Gold-Ore Resources Ltd.
TSX VENTURE : GOZ

Gold-Ore Resources Ltd.

January 02, 2008 11:40 ET

Gold-Ore Resources Ltd.: Bjorkdal Gold Mine-Purchase Closes

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 2, 2008) - Gold-Ore Resources Ltd. (the "Company") (TSX VENTURE:GOZ) is pleased to announce that it has completed the purchase of 100% of the issued shares of Bjorkdalsgruvan AB - the Swedish company that owns the Bjorkdal Gold Mine. The assets of Bjorkdalsgruvan includes a fully operational 3500 tonne/day gold processing plant with a replacement value of US$40 million, all associated mineral resources, working capital of CDN$1.5 million, and 43 square kilometres of prime exploration territory. Minmet plc the vendor retains a 1.75% net smelter interest on the gold produced from the property.

Bjorkdal produced approximately 19,200 ounces of gold during 2007. Gold production is primarily from surface stockpiles supplemented from underground exploration workings. The Company's goal is to expand underground mining to 1500 tonnes per day during 2008.

Within the next two weeks, the Company will release a summary of its 2007 activities and the 2008 exploration plans.

Bjorkdal property information is posted on the Company's web site at www.goldoreresources.com. Robert S. Wasylyshyn; P. Geo. is the Company's Qualified Person for the Bjorkdal Project.

ON BEHALF OF THE BOARD

Glen Dickson, Chairman

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

News Release 08-01

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

Contact Information

  • Gold-Ore Resources Ltd.
    Glen Dickson
    (604) 687-8884
    or
    Gold-Ore Resources Ltd.
    Bob Wasylyshyn
    (604) 687-8884
    (604) 629-0400 (FAX)
    Website: www.goldoreresources.com