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Not for Distribution to U.S. Newswire Services or for Dissemination in
the United States
For
Immediate
Release
August 22, 2008
Trading Symbol: GBK - TSX-V
NEWS RELEASE
Goldbrook Extends Letter of
Intent with Jilin Jien Nickel
Vancouver,
British Columbia - Goldbrook Ventures Inc.
("Goldbrook") today announced that further to its news releases
of June 20, 2008 and August 7, 2008 announcing the execution of a letter
of intent (the "LOI") with Jilin Jien Nickel Industry Co., Ltd.
of Panshi, Jilin, China ("Jien"), that Goldbrook and Jien have
agreed to extend the date by which the obligations set out in the LOI,
including the completion and signing of a joint venture agreement, must
be completed to August 31, 2008. In consideration of the extension
of the LOI and to continue funding the current exploration program in
Raglan, Jien has agreed to provide Goldbrook with an additional Cdn$1.5
million. If Goldbrook or Jien decide not to enter into definitive
documentation, Goldbrook will repay the Cdn$1.5 million, together with
the Cdn$6.5 million previously advanced under the LOI, plus interest at
LIBOR, by no later than December 31, 2008. Goldbrook will repay
this amount from rebates from the Quebec government. The
transaction remains subject to board approvals and the execution of
definitive documentation.
ON
BEHALF OF THE BOARD
(signed) "David Baker," Chairman and CEO
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.
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