February 27, 2012: Vancouver, British Columbia: Gold Reach Resources Ltd. (TSX-V: GRV) (Gold Reach and/or the Company) is pleased to announce that a technical report detailing the January 17th resource estimate update for the Seel Cu-Au porphyry has been filed on Sedar (www.sedar.com) and is also available on the company’s website at www.goldreachresources.com.
The previously announced January 17th resource update contains a 400% increase in the Seel resource which now 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. At a 0.2% Cu Eq cut off the Seel deposit contains an indicated resource of 28.13 million tonnes grading 0.22% Cu, 0.21 g/t Au, 0.007% Mo and 1.1 g/t Ag (0.40% Cu Eq) plus an inferred resource of 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). The majority of the resource sits in the inferred category reflecting the widely spaced nature of the deep drilling and step out holes complete during the 2011 drill program.
The company is planning an aggressive 2012 drilling program at the recently discovered West Seel deposit. The last hole drilled during the 2011 drilling program at West Seel returned 566.7 metres grading 0.54% Cu Eq and the hole ended in mineralization. The West Seel deposit contains higher average grades than the rest of the system and remains open to the west, north, south, and at depth. The 2012 drill program will focus on defining the limits of the higher grade zone of mineralization. The West Seel deposit also shows a trend of increasing grade at depth. Once the boundaries of the West Seel zone have been defined, one or two deep holes will be drilled into the zone to see if the grades continue to increase with depth, and to learn more about the depth extent of mineralization.
The 2012 drilling program is anticipated to commence in late May depending on snow conditions in the area.
About Gold Reach Resources
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 8 km from the producing Huckleberry Mine, and containing the Seel and Ox porphyry systems. The company also holds a 100% interest in the Auro property located in central British Columbia adjacent to the 6.4 million ounce Blackwater Gold deposit owned by New Gold. Additional information is available on our website at www.goldreachresources.com.
Dr. Shane Ebert, P. Geo. is the Qualified Person responsible for the preparation of this news release.
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.