January 3, 2012: Vancouver, British Columbia: Gold Reach Resources Ltd. (TSX-V: GRV) (Gold Reach and/or the Company) is pleased to announce that exploration permits have been received from the Ministry of Mines for the Ootsa Property, British Columbia. The permit is a 5-year exploration approval update that is valid until 2015 and will allow the company to maintain an exploration camp, conduct geophysical surveying and trenching, and drill up to 215 additional holes.
The company intends to conduct a major exploration and drilling program at Ootsa in 2012 to delineate and expand the new West Seel discovery, test the expansion potential of the Ox deposit, and further explore the large Ootsa land package.
Dr. Shane Ebert PGeo., who joined the board of directors on April 4, 2011, has been appointed President of the Company by the Board of Directors. Dr. Ebert brings over 20 years of mineral exploration experience to the company and has been running and managing junior exploration companies for the past 6 years.
Mr. Conrad Swanson, has been appointed Chairman of the Board and will continue to pursue a strategic joint venture partner to further the company’s resource through to production or bankable feasibility.
The company, pursuant to its stock option plan, has granted incentive stock options to its various directors, officers, employees and consultants to purchase a total of 1,158,000 common shares in the capital stock of the company, exercisable for a period of five years, at a price of $0.60 per share, subject to regulatory approval.
Dr. Shane Ebert, a qualified person under NI 43-101 has approved this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
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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.