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Not for Distribution to U.S. Newswire Services or for Dissemination in
the United States
For
Immediate
Release
August 7, 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 release
of June 20, 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 15, 2008. In consideration of the extension of
the LOI and to continue funding the current exploration program in
Raglan, Jien has provided 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$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 approval of the TSX Venture Exchange, 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.
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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