Monday, September 24, 2007
Work Underway At Dorozhni Property, Far East Russia

The first phase of the 2007 exploration program at the Dorozhni property has been completed. Dorozhni is one of two highly-prospective gold properties located in the Magadan Region of Far East Russia under agreement to Golden Reign Resources Ltd. (the "Company"). The properties are both held under twenty-year comprehensive exploration-mining licences.

Situated at the headwaters of Dorozhni Creek, gold mineralization on the property is thought to be the source of the nearly 100,000 ounces of placer material collected from Dorozhni Creek. The Dorozhni property covers an area of 8.8 square kilometres.

Previous exploration work at Dorozhni focused on identifying and testing mineralized quartz veins at or near surface. Gold mineralization was recorded in five separate quartz veins. The veins, which have been traced for 380 metres along strike, average between 0.4 to 2.4 metres in width and occasionally expand up to 17 metres wide. The distance between the veins ranges from 15 to 50 metres. Gold distribution is extremely irregular, with the highest reported grades resulting from two separate channel samples, both of which were collected from Vein No 1, of 6,322.2 g/t over 0.1 metres and 2,678.2 g/t over 0.5 metres. A sampling plan of Vein No 1 is available for review on the Company's website and is included in the Company's National Instrument 43-101 technical report ("NI 43-101"). These mineralized veins have not been tested by drilling to depth.

Despite the historical focus on exploration for high-grade gold bearing quartz veins, the Company believes that the property has potential for a low-grade bulk tonnage gold deposit.

The first phase of exploration was designed to map the mineralized zones and to test whether the gold mineralization is restricted solely to quartz veins and veinlets, or whether mineralization occurs in the surrounding host rocks. Exploration will test the sheeted vein system within the granite intrusive to evaluate the gold content between veins, with the intent of determining an average gold grade from the vein swarm and the intervening intrusive.

The Company has established an exploration camp, mobilized equipment and upgraded an existing access road. In addition, the Company has built a new 2-kilometre road to provide access to previously untested mineralized zones within the property boundaries. The Company has also completed compilation of historical geological data and acquired all necessary exploration permits. Comprehensive geological mapping, including reconnaissance traverses, and grab sampling have been completed. Assay results are pending and will be released as they become available.

The Company also plans to evaluate the silver content of the mineralization. Geological and mineralogical data suggest that the veins may contain silver values; however, only gold analyses were completed previously.

The second phase of the 2007 exploration program, commencing this week, will consist of a program of excavator and bulldozer trenching. The Company plans to trench 3,000 metres and carry out systematic channel sampling in one metre intervals across the entire length of the trenches. This program is designed to further expose mineralized zones within the altered granite and to identify drill targets.

A NI 43-101 technical report for the Dorozhni property has been filed on SEDAR (www.sedar.com) and is also available for viewing on the Company's website at www.goldenreign.com.

Qualified Person

John M. Kowalchuk, P.Geo, an independent geologist and qualified person (as defined under NI 43-101) has reviewed the technical information contained in this news release.

About Magadan

The Magadan Region is considered one of the world's richest mining areas, with gold being the main resource of the region. There are approximately 2,000 placer gold deposits, 100 gold ore deposits and 48 silver deposits. Total probable gold reserves in the Magadan Oblast are estimated at 4,000 tons (128,000,000 ounces) (source: Kommersant).

About Golden Reign:

Golden Reign Resources Ltd. is a publicly listed (TSX-V: GRR) mineral exploration company engaged in the business of exploring and developing a portfolio of precious metals and mineral assets in Far East Russia and Canada.

On August 23, 2007, the TSX Venture Exchange accepted for filing the formal agreement dated June 8, 2007 between the Company and Status LLC ("Status"), the mining division of CentroCredit Bank of Moscow, pursuant to which the Golden Reign has a right to acquire up to a 50% equity interest in Gold Mining Corporation LLC ("GMC") by incurring aggregate exploration expenditures totalling US$6,000,000 over a three-year period. GMC is a private Russian company jointly formed by Status and the Company to hold the 20-year comprehensive exploration-mining licences for the Butarni and Dorozhni mineral properties, both of which are located in the Magadan Region of Far East Russia.

For additional information please visit our website at www.goldenreign.com and SEDAR www.sedar.com.

On behalf of the Board,

"Kim Evans"
Kim Evans, CGA
Director & CFO

Forward-Looking Statements: Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Such forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to political risks involving the Company's exploration and development of mineral properties interests in Russia, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and uncertainties. Such information contained herein represents management's best judgment as of the date hereof, based on information currently available.


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.