Goldrush Resources Ltd.

Goldrush Resources Ltd.

April 07, 2006 09:30 ET

$3.25 Million Private Placement Arranged for Burkina Faso Exploration Programs

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 7, 2006) - Goldrush Resources Ltd. (TSX VENTURE:GOD) ("Goldrush" or the "Company") has arranged a non-brokered private placement of up to 13,000,000 units of its securities at a price of $0.25 per unit for gross proceeds of up to $3,250,000. Each unit will be comprised of one common share and one common share purchase warrant entitling the holder to purchase one additional share at a price of $0.35 for a period of one year. Proceeds of the placement will be used to fund the Company's exploration programs in Burkina Faso, West Africa and for working capital purposes. Finder's fees may be payable in cash, shares and/or warrants with respect to certain subscribers and in accordance with the policies of the TSX Venture Exchange.

The financing is subject to the approval of the TSX Venture Exchange.

The Board of Directors has granted director and employee incentive stock options for the purchase of 1,400,000 common shares at a price of $0.27 per share for a period of three years.

Goldrush has a Strategic Alliance Agreement with High River Gold Mines Ltd. (TSX:HRG) ("High River") under which Goldrush has acquired 21 exploration permits totaling approximately 4,690 square km in Burkina Faso, West Africa. Prior to the end of 2006, the Company intends to spend a total of US$2.2 million on its West African exploration program.

For further information on Goldrush Resources Ltd., investors are invited to visit the Company's website at



Len Brownlie - President

FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

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

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