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Goldbrook Ventures Inc

Publié le 02 juin 2010

2010 Exploration Update

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June 2, 2010

Goldbrook 2010 Exploration Update


Vancouver, British Columbia - Goldbrook Ventures Inc. ("Goldbrook") is pleased to provide an update on the exploration program to be undertaken on the company`s Raglan property this summer, under the Option Joint Venture Agreement (the "JV Agreement") with Jilin Jien Nickel Industry Co., Ltd. of Panshi, Jilin, China ("Jilin Jien").


The 2010 summer exploration program has a budget of $17,500,000 and will consist of up to 25,000 metres of diamond drilling and an integrated geological/structural mapping, geological prospecting and geochemical sampling program designed to evaluate the large property position currently held by Goldbrook. The primary goals for the 2010 exploration program will be to delineate mineralized zones discovered in previously successful programs and conduct an extensive reconnaissance program to better understand the mineral potential for the company's extensive land holdings in the Raglan Belt. The campaign will be operated from two camps with a total exploration crew of 105 people. Several technical innovations will be incorporated into the 2010 program including real-time basal till and rock geochemistry, regional and target scale structural mapping and structure based geophysical targeting methods.


To ensure optimum results from the execution of this program, Goldbrook has recently expanded its management and technical abilities with the hiring of several key personnel.


Kevin Wells P.Geo, has joined Goldbrook as General Manager, with overall direct responsibility for the execution of the 2010 exploration program. Kevin is a Bachelor of Science in Geology graduate from Laurentian University with 28 years of experience in the exploration and mining industry. Since his graduation in 1994 he has worked extensively in Ni-Cu-PGE mineral exploration for Falconbridge Ltd. and most recently for Anglo American Exploration Canada Ltd. based in Vancouver. He worked as a senior geologist with Anglo American Canada on a variety of projects throughout North America, and recently completed a three year secondment to Anglo Platinum's Ni-Cu-PGE exploration projects in Sichuan Province, China. Kevin brings to Goldbrook a strong technical background and excellent project management skills.


Additionally, Goldbrook has retained a turn-key geoscience consulting team, Revelation Geoscience Ltd. ("Revelation"). The Revelation team maintains significant knowledge and experience in all stages of magmatic sulphide exploration and project management. It also maintains a global network of specialist consultants, some of whom have been contracted by Goldbrook to assist in the summer 2010 exploration campaign.


The exploration team members from Revelation include:


         Dr. Dave Peck P.Geo, the President of Revelation. Dave is the former Global Commodity Leader for Anglo American plc where he was in charge of all aspects of magmatic sulphide exploration and a major contributor to business development and corporate strategy for nickel and platinum group metals. He was a key part of the West Raglan discovery team (Frontier Zone; co-owned by Anglo American and Knight Resources) and has spent nearly ten years exploring and evaluating opp ortunities in the Raglan Belt.


         Mr. Phil Smerchanski P.Geo. is Vice-President of Revelation. He has a Masters of Economic Geology degree from the University of Tasmania. For the last six years he has led regional reconnaissance and property-scale exploration programs for nickel sulphides and copper-gold porphyry systems for Anglo American Exploration across northern Canada and Alaska. Prior to this time Phil managed underground and surface exploration drill programs for Inco in the Thompson Nic kel Belt. Phil also led the Anglo technical program in 2005 during the option agreement with Goldbrook and he and his team were directly responsible for the discovery of Goldbrook's Timtu and Pad-1 zones.


         Dr. Dennis Arne (P.Geo, RPGeo - Australia) is the Revelation Principal Consultant - Geochemistry. He was formerly Principal Geochemical Consultant for ioGlobal, and has been involved in providing geochemical support for a range of mineral exploration programs across a spectrum of commodities, including Ni-Cu-PGE.


The addition of the Revelation team to the Goldbrook team will enhance Goldbrook's ability to provide significant value to Goldbrook's shareholders from its ownership of the advanced exploration projects in the Raglan District. Under Kevin Wells' supervision, the combined exploration team, including individuals from Goldbrook's existing technical staff, consultant geophysicist Bob Lo, and three of Revelation's lead nickel specialists, will execute the 2010 exploration program.


Goldbrook retains the dominant land position in the Raglan District, currently exceeding 861,000 acres (refer to property map on the Goldbrook Ventures website). The total land package includes several geologically distinct claim blocks covering both the Raglan Formation, host to Xstrata Nickel's Raglan mining operations, and the Povungnitiuk Group (a.k.a., 'southern trend'), host to Goldbrook's Mystery, Getty, Sylvie, Timtu and Pad deposits, all of which are subject to the JV Agreement. Goldbrook also has partial ownership, through Jien Canada Mining Ltd. ("JCM") of the Expo, Mesamax, Mequillon, Allamaq, Ivakkak and Puimajug deposits and associated advanced exploration projects that are held by Canadian Royalties. Canadian Royalties and all of its mineral assets were jointly acquired by JCM in a successful take-over bid and subsequent plan of arrangement in the first quarter of this year. Goldbrook owns 25% of the voting shares of JC M and Jilin Jien owns 75%. JCM is operated under the terms of a Shareholder, Joint Bid and Operating Agreement (the "Shareholder Agreement"). Pursuant to the Shareholder Agreement, Jilin Jien is responsible for providing 100% of the funding to bring the Canadian Royalties' properties into production and will be repaid for its contribution out of cash flow from production on the properties if commercial production occurs. Additionally, through the Shareholders Agreement, Goldbrook is entitled to participate in all exploration and development decisions for the Canadian Royalties' properties and will be able to rely on the expertise of its expanded team in providing its input on these decision. Goldbrook is currently taking steps to ensure an information exchange occurs during the forthcoming summer exploration programs on the Goldbrook properties and the Canadian Royalties' properties.


Dr. Peck states; "We are extremely pleased to be a part of the Goldbrook Ventures team and be given the unique opportunity to direct all aspects of the 2010 Raglan exploration program. Our group is uniquely capable of providing Goldbrook with major company technical and project management skills. The Revelation team brings an unparalleled understanding of value creative, multi-disciplinary and fully integrated nickel-copper-PGE exploration methods that is already being applied to the Goldbrook 2010 campaign. We are confident we can expand Goldbrook's mineral resource inventory, thereby allowing Jilin Jien and Goldbrook to enact an integrated, long-term exploration and development strategy aimed at maximizing value for all stakeholders. This strategy will underpin appropriate scaling and sequencing of future advanced exploration and development programs, ensuring the most effective use of capital as the joint ventures between Jili n Jien and Goldbrook move from the exploration stage to the development stage. In our view, the Goldbrook and JCM properties represent attractive advanced stage exploration assets. Most of the Goldbrook property remains under-explored, thereby providing the exploration team with the potential for making new discoveries this year."


About Goldbrook


Goldbrook Ventures is engaged in the exploration and development of Nickel-Copper-Platinum Group Element sulphide deposits - a class of mineral deposit that, due to its polymetallic nature, has the advantage of protection against individual metal price cycles and has strong long term supply-demand fundamentals. Goldbrook's quest for discovery is focused in the Raglan District of northern Quebec, a district that hosts Xstrata's Raglan operations, arguably one of the world's most profitable nickel-copper-PGE mines. Goldbrook is the District's single largest holder of mineral rights, with a 100% interest in 861,000 acres.


Goldbrook also owns 25% of the voting shares of Jien Canada Mining Ltd. (which successfully acquired Canadian Royalties Inc.), the owner of the nickel-copper-cobalt-platinum-palladium-gold deposits in the Raglan mining district which collectively form the Nunavik Nickel Project.




(signed) "Edward T. Gardner," CEO and Director


For further information please contact:

Telephone: 604-683-8083

Website: www.goldbrookventures.com



Cautionary Note Regarding Forward-Looking Statements


Certain of the statements made herein may contain forward-looking statements or information within the meaning of Canadian securities laws and the applicable securities laws of the United States. Such forward looking statements or information include, but are not limited to, statements or information with respect to Goldbrook's plan for future exploration and development of its properties, the mineral resource potential for its properties, and the joint venture with Jilin Jien.


Forward-looking statements or information are based on a number of estimates and assumptions and are subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking statements or information. Should one or more of these risks and uncertainties materialize, or should underlying estimates and assumptions prove incorrect, actual results may vary materially from those described in forward looking statements or information. Factors related to such risks and uncertainties, and underlying estimates and assumptions include, among others, the following: the ability of Goldbrook to advance development of its properties; price volatility of nickel and other metals; impact of any hedging activities, including margin limits and margin calls; discrepancies between actual and estimated production, between actual and estimated resources, and between a ctual and estimated metallurgical recoveries; mining operational risk; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign investment; speculative nature of mineral exploration; defective title to mineral claims or property, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. Accordingly, undue reliance should not be placed on forward looking statements or information. We do not expect to update forward-looking statements or information continually as conditions change, except as may be required by law.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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Goldbrook Ventures Inc. - 1550 - 200 Burrard Street Vancouver, BC Canada V6C 3L6
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Goldbrook Ventures Inc

ISIN : CA38076R1091
CUSIP : 38076R 10 9
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Goldbrook Ventures est une société d’exploration minière d'or basée au Canada.

Goldbrook Ventures détient divers projets d'exploration au Canada.

Ses principaux projets en exploration sont NUVILIK, RAGLAN / BELANGER, SYLVIE, UNGAVA, SCOTT et MASUPARIA PROJECT au Canada.

Goldbrook Ventures est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 80,8 millions CA$ (78,8 millions US$, 62,9 millions €).

La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2003 à 0,80 CA$, et son plus bas niveau récent le 24 décembre 2008 à 0,04 CA$.

Goldbrook Ventures possède 230 989 000 actions en circulation.

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Présentations des Compagnies de Goldbrook Ventures Inc
21/11/2009Goldbrook positioned for nickel production in Quebec
07/04/2008Research note
Rapports annuels de Goldbrook Ventures Inc
2008 Annual Report
Financements de Goldbrook Ventures Inc
12/10/2011Announces Non Brokered Private Placement
Nominations de Goldbrook Ventures Inc
28/03/2011Announces Executive Appointment
30/04/2010Appoints New CEO and Director
Projets de Goldbrook Ventures Inc
19/08/2011(Nunavik)Nunavik Nickel Project Update
21/07/2011(Nunavik)Entitled to 25% Interest in Nunavik Nickel Project
13/07/2010(Raglan / Belanger)Commences 2010 Drill Program on Raglan Project
24/06/2010(Raglan / Belanger)Raglan Project Mobilizes Summer Field Crews
14/04/2010(Nunavik)Receives NI 43-101 on Nunavik Nickel Project
12/11/2009(Raglan / Belanger)2009 Drilling Enhances Mystery Ni-Cu-PGE Sulphides
06/10/2009(Raglan / Belanger)Discovers Deep Extension to Ni-Cu-PGE Sulphides at TIMTU
30/06/2009(Raglan / Belanger)Announces Start of Raglan Drilling Program 2009
26/05/2009(Raglan / Belanger)Exploration Update
07/11/2008Intersects 76.3 metres .91% Ni, 1.11% Cu 2.94 g/t PGE + AU
03/09/2008(Raglan / Belanger)Discovers Ni-Cu-PGE Sulphide Zone at Mystery
09/05/2008(Raglan / Belanger)Announces Multiple Intersections at Getty
01/05/2008(Raglan / Belanger) Announces 6.05 Metres 2.72% Nickel at Sylvie
03/06/2005(Raglan / Belanger)Anglo American form Raglan joint venture
Communiqués de Presse de Goldbrook Ventures Inc
31/01/2012JJ Offer and GBK Directors' Circular Recommending Tender to ...
20/01/2012Executes Support Agreement with Jilin Jien for Friendly $0.3...
22/12/2011Announces Arbitration Award
20/12/2011Announces Results of 2011 Shareholders Meeting
19/12/2011(Nunavik)Noel Nunavik Nickel
30/11/2011Jilin Jien Requests Consent to Make an Offer
22/09/2011Arbitration Update
26/07/2011Clarifies Arbitration Award
19/04/2011Files Petition in the Supreme Court of British Columbia
31/03/2011Announces Notice of Arbitration
13/08/2010from Michael A Berry Morning Notes
08/07/2010Receives Additional 2010 Exploration Funding
29/06/2010(Nunavik)LOI with SNC Lavalin for Nunavik Nickel Project
02/06/20102010 Exploration Update
01/06/2010Are You The Winner ?
26/03/2010Participates in Hong Kong Conference
24/03/2010Receives Additional Funding For 2010 Exploration Program
03/03/2010Receives Initial Funding for 2010 Exploration
21/01/2010Chairman's Update
15/01/2010Confirms Delisting of Canadian Royalties
13/01/2010and Canadian Royalties Complete Plan of Arrangement
05/01/2010/Jien Offer Approved By Canadian Royalties Shareholders
23/11/2009Special Report on Goldbrook Ventures Inc.
12/11/2009Jien Canada Takes Up Shares & Debentures of Canadian Royalti...
29/10/2009Expands Pad Zone
28/10/2009Jien Canada Reports Tender Results
16/10/2009Jien Canada And Canadian Royalties Sign Agreement
21/09/2009Expands Mystery Ni-Cu-PGE Sulphide Zone
10/09/2009Drills 95.4 m of .78% Ni - Discovers New Zone
27/08/2009Offer Represents Full and Fair Value
10/08/2009Jilin Jien and Goldbrook Formally Commence All- Cash Bid for...
26/06/2009Northern Miner Article
17/06/2009Announces Camp Mobilization
11/02/2009Receives Initial Funding for 2009 Exploration
26/11/2008Receives Quebec Refund
26/11/2008and Jilin Jien Nickel Hold Signing Ceremony in Beijing
26/11/2008Re-Elects Directors
03/11/2008Mystery Zone Additional Results
15/09/2008Expands Ni-Cu-PGE Sulphide Zone at Mystery
29/08/2008Signs Agreement with Jilin Jien Nickel
25/08/2008looks to China for partnership
22/08/2008Extends Letter of Intent with Jilin Jien Nickel
07/08/2008Extends LOI with Jilin Jien Nickel
18/07/20082008 Exploration Program at Raglan Underway
20/06/2008Enters LOI with Jilin Jien Nickel
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