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Dear Eric,
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September 15, 2008
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NEWS
RELEASE
Goldbrook
Expands the Ni-Cu-PGE Sulphide zone at Mystery
DDH MYS08-006
intersects 73.1 metres of 0.72% Ni, 0.99% Cu and 3.25g/t PGE+Au
DDH MYS08-005
intersects 4 metres of 0.64% Ni, 3.11% Cu and 41.29 g/t PGE+Au
Vancouver, British Columbia - Goldbrook Ventures Inc. ("Goldbrook")
is pleased to announce further results from its 2008 Raglan project
diamond drilling program. The company contracted three drill rigs
from Bradley-Nuvumiut (Rouyn-Noranda) for a minimum of 12,000 metres of
BQ-size core. The program also includes geological mapping, prospecting
and an extensive remote sensing survey. Field crews mobilized to
the Belanger base camp in early July. As of early September over 35
drillholes totaling about 9,062 metres had been completed.
Mystery Prospect
As of September Goldbrook completed 26 drill
holes totaling over 6,160 metres on the Mystery prospect. These holes are
drilled on nine vertical sections along a strike length of about 525
metres. This release reports lab assay data for an additional four
drillholes. Three drillholes are on section 490850 (see Goldbrook website for
sections and drillhole location map), located 50
metres east of the drilling data on Section 490800 released on September
3, 2008; and, one hole is on section 490775, located 25 metres west of
the 490800 section. As of this news release 26 drillholes have been
sampled, and have been submitted, or are in transit, to ALS Chemex in
Vancouver for assay. Assays are pending.
Drilling to date indicates the potential for a
major new Ni-Cu-PGE sulphide zone at the Mystery prospect, which is about
10 kilometres west of Goldbrook's Getty-Sylvie deposits. The Mystery
drill program is focused on testing an extensive, coincident EM and
magnetic response from a 2007 airborne geophysical VTEM survey, and a
very strong downhole EM anomaly obtained during the 2007 drill
program.
Highlights of the Mystery drilling to date
include:
MYS08-005, -006 and -007 were drilled on Section 490850 East, below the
previously reported MYS08-004 and 50 metres east of the first drillholes
on Section 490800 East (see
September 3, 2008 press release), to further delineate
the discovery of the sulphide mineralized zone at the Mystery prospect.
- MYS08-005
intersected sulphides over 46
metres from 186.0 to 232.0 metres downhole, with an
average grade of 0.74%
Ni, 1.58% Cu and 6.80 g/t PGE+Au. This 46-metre
section includes
a 4 metre section from 200 to 204 metres with an average grade of
0.64% Ni,
3.11% Cu and 41.30 g/t PGE+Au.
- MYS08-006
intersected 73.1
metres from 252 to 325.1 metres downhole, with an average grade of
0.72% Ni, 0.99% Cu and 3.25 g/t PGE+Au.
MYS08-008 was drilled at
-55 degrees on Section
490775 East, 75 metres west of the drilling reported
above, and 25 metres west of Section 490800 containing Mystery drillholes
MYS08-001, -002 and -003 (see press release Sept 3, 2008) and MYS07-001,
-002.
- MYS08-008
intersected 46
metres from 145.0 to 191.0 metres downhole, with an average grade of
0.65% Ni, 0.90%Cu and 2.14 g/t PGE+Au
Jilin
Jien Nickel Joint Venture Agreement
Goldbrook
Ventures has announced (see press release of August 29, 2008) that it has
entered into a definitive agreement with Jilin Jien Nickel Industry Co.,
Ltd. of Panshi, Jilin, China for the exploration and development of
Goldbrook's Raglan District properties comprising some 891,000 acres in
northern Quebec. Jien may earn a 50% interest in the property by
providing funding of $45 million over three years for exploration on the
property, plus any funds rebated by the government for expenditures
during the first two years. Upon Jien acquiring a 50% interest, any
government rebate from exploration in the third year will be applied to a
fourth year work program and other costs will be funded 50% by Jien and
50% by Goldbrook.
Summary
The
2008 exploration program is developing Ni-Cu-PGE sulphide targets, along
the Belanger and related trends, as part of the longer term exploration
objectives of the company. Drilling at Mystery appears to confirm a
vertical to steeply dipping, mineralized zone of about 30 to 50 m
thickness at sections 490800 and 490850 East, which is tested to depths
of between 250 and 300 metres. Drillhole
MYS08-005 also includes a 4-metre section containing an average of 41.30
g/t PGE+Au, which includes 9.85 g/t platinum. Continued
drilling of the Mystery zone to define the extent of the sulphide
mineralization is a high priority for the 2008 drilling season.
Further assay results will be released as they become available.
Jamie
Pardy, PGeo, and G. Carter, PGeo, Vancouver, are qualified persons as
defined by National Instrument 43-101 and have reviewed and verified the
information contained and are responsible for the technical content of
this press release.
ON
BEHALF OF THE BOARD:
(signed)
"Brian Grant,
PGeo" President and COO
For
Further Information, please contact: (604) 683-8083
Website:
www.goldbrookventures.com
This
news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States. The
securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities
Act") or any state securities laws and may not be offered or sold
within the United States or to U.S. Persons unless registered under the
U.S. Securities Act and applicable state securities laws or an exemption
from such registration is available.
This
press release contains "forward-looking information" that is
based on Goldbrook's current expectations, estimates, forecasts and
projections. This forward-looking information includes, among other
things, statements with respect to Goldbrook's mineral discoveries,
plans, outlook and business strategy. The words "may",
"would", "could", "should",
"will", "likely", "expect,"
"anticipate," "intend", "estimate",
"plan", "forecast", "project" and
"believe" or other similar words and phrases are intended to
identify forward-looking information.
Forward-looking
information is subject to known and unknown risks, uncertainties and
other factors that may cause Goldbrook's actual results, level of
activity, performance or achievements to be materially different from
those expressed or implied by such forward-looking information.
Such factors include, but are not limited to: uncertainties related to
drilling results; the ability to raise sufficient capital to fund
exploration; changes in economic conditions or financial markets; changes
in prices for Goldbrook's mineral products or increases in input costs;
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.
This
list is not exhaustive of the factors that may affect our forward-looking
information. These and other factors should be considered carefully
and readers should not place undue reliance on such forward-looking
information. Goldbrook disclaims any intention or obligation to
update or revise forward-looking information, whether as a result of new
information, future events or otherwise.
THE
TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THE CONTENT OF THIS
PRESS RELEASE.
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