June 12, 2012: Vancouver, British Columbia: Gold Reach Resources Ltd. (GRV: TSX-V) (Gold Reach and/or the Company) is pleased to announce that drilling is underway at the company’s 100% owned Ootsa Property located adjacent to the producing Huckleberry Mine in British Columbia, and the first 2 holes of the planned 20,000 metre 2012 program have been completed (holes S12-101 and S12-102).
Hole S12-101 was drilled to a total depth of 1079 metres and hole S12-102 was drilled to a total depth of 951 metres and both holes tested the new West Seel discovery made at the end of the 2011 exploration season. Hole S12-101 was drilled 100 metres back from hole S11-100 which intersected 566.7 metres grading 0.51% copper equivalent (Cu Eq.) (previously released see December 5, 2011 news release) and hole S12-102 stepped out 100 metres in front of hole S11-98 which intersected 571.9 metres grading 0.38% Cu Eq. (previously released see December 5, 2011 news release). A drill hole location map and a cross section showing the new holes have been added to the Map Gallery on Gold Reach’s website (www.goldreachresources.com.).
Assay results from holes S12-101 and 102 are expected in about 3 weeks.
Dr. Shane Ebert, President of the company stated, “The Company is extremely pleased with the drilling progress made to date at the Ootsa Project. The planned 20,000 metre drill program will continue to step out in several directions and will attempt to outline the extent of the new West Seel discovery. Holes 101 and 102 both ended in strong alteration containing visible copper and molybdenum sulfides, indicating the alteration zone still remains open at depth. Two drills are currently operating at the project and surface exploration and trenching will commence in a few weeks.”
On another matter, the Company announces that further to its stock option plan; it is granting options to buy an aggregate of 161,000 shares to various directors, officers, employees and consultants of the Company. The options are exercisable at $0.83 per share for a term of five years from the date of grant.
About Gold Reach Resource
Gold Reach Resources Ltd. is a Canadian exploration company with an experienced board and management team that is actively involved in mineral exploration in British Columbia. The company holds a 100% interest in the Ootsa Property, located adjacent to the producing Huckleberry Mine, and containing the Seel and Ox porphyry systems. The Seel porphyry contains a NI43-101 compliant resource containing 214.78 million tonnes grading 0.17% Cu, 0.13 g/t Au, 0.017% Mo, and 2.17 g/t Ag (0.33% Cu Eq) in the inferred category plus an additional 28.13 million tonnes grading 0.22% Cu and 0.21 g/t Au (0.40% Cu Eq) in the indicated category. The resource contains 805 million lbs. of Cu inferred plus 136 million lbs. of Cu indicated, 897,694 ounces of Au inferred plus 189,924 ounces of Au indicated, 15 million ounces of Ag inferred plus 1 million ounces of Ag indicated, and 80 million lbs. of Mo inferred plus 4 million lbs. of Mo indicated. The Ox porphyry, located 4 km northwest of Seel, contains a NI43-101 compliant resource containing 16 million tonnes grading 0.3% Cu and 0.04% Mo in the inferred category.
The company is well financed with over $6 million dollars in the treasury and holds a 2% NSR covering 23,000 hectares of mining claims located adjacent to the Blackwater Gold deposit in central British Columbia. Additional information is available on our website at www.goldreachresources.com.
Dr. Shane Ebert, P. Geo. the President of the Company, is the Qualified Person responsible for the preparation of this news release, and has approved all technical disclosure contained herein.
Shane Ebert, President/Director
For Further information, please contact:
S. Ebert direct line: 250 964-2699
Toll Free: 888-500-4587
Neither the 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.
Safe Harbour Statement: The Company relies upon litigation protection for “forward-looking statements.” The Company undertakes no obligation to update these forward- looking statements in the managements beliefs, estimates obligations or other factors should change.