Gold-Ore Resources Ltd.
TSX VENTURE : GOZ

Gold-Ore Resources Ltd.

November 08, 2007 09:30 ET

Gold-Ore Resources Ltd.: Vallberget Property Acquisition-Bergslagen District, Sweden

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 8, 2007) - Gold-Ore Resources Ltd. (TSX VENTURE:GOZ) (the "Company") announces that it has acquired an option to purchase 100% interest in four contiguous exploration permits covering 29 square kilometers in the prolific Bergslagen mining district in southern Sweden. The Bergslagen district has seen mining since the Middle Ages and currently Lundin Mining and New Boliden produce base and precious metals in proximity to the Vallberget property.

The Vallberget permits cover an area where previous work has located 13 volcanogenic massive sulphide style occurrences of Zn, Pb, Cu, Ag and Au within felsic volcanic rocks. Most of the occurrences have seen small scale mining during the 1800's and 1900's. Historic drill intersections dating back to the late 1930's include 22.9% Zn and 0.70% Pb over 9.8 metres and 17.1% Zn and 1.9% Pb over 3.8 metres. The property has never been explored systematically or to depths exceeding 90 metres.

"We continue to selectively add properties to our land holdings," states Bob Wasylyshyn, the Company's President. "Our goal is to create a high quality portfolio of exploration projects focused in Sweden."

Under terms of the option to purchase agreement, Gold-Ore will acquire 100% of the permits from a private company by paying a combination of cash and shares equivalent totaling CDN$585,000 over a four year period. The first annual payment of CDN$10,000 and 25,000 shares has been paid.

Further information will be posted on the Company's web site at www.goldoreresources.com.

On Behalf of the Board of Directors

Robert Wasylyshyn, President

GOLD-ORE RESOURCES LTD.

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 07-16

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