Goldbrook Ventures Inc.

Goldbrook Ventures Inc.

April 29, 2010 14:27 ET

Goldbrook Appoints New CEO and Director

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 29, 2010) -


Goldbrook Ventures Inc. (TSX VENTURE:GBK) ("Goldbrook" or the "Company") is pleased to announce the appointment of Mr. Edward T. Gardner as Chief Executive Officer and Director of the Company effective immediately. Concurrently, David Baker is stepping down from his current position as CEO, and continuing as Chairman of the Board of Directors.

Mr. Gardner has resigned his position as Senior Vice President/Corporate Finance with Gilford Securities in New York, USA, to join the Goldbrook team. Mr. Gardner was a senior member of the investment banking team at Gilford Securities focusing on Energy, Natural Resources and Technology. Prior to joining Gilford Mr. Gardner ran his own financial advisory firm and spent seventeen years at Alex Brown Securities in corporate finance and institutional sales. Mr. Gardner was a principal of Heafitz, Widman, McMahon & Gardner, a project finance business focused on the energy business. Previously he was an institutional salesman at Donaldson, Lufkin & Jenrette, White Weld and Smith Barney. Mr. Gardner graduated from Fordham University with a degree in Economics.

Mr. Baker stated that 'Goldbrook has accomplished several important milestones in the past few years in assembling and exploring a large strategic land position in the Raglan nickel belt, and successfully executing a takeover of Canadian Royalties Inc with our partner Jilin Jien Nickel Industry Co., Ltd. Now is an appropriate time to enlarge the management team to ensure the Company can continue to exploit its opportunities in a timely and efficient manner. The addition of Terry Gardner, with his experience and capabilities, is important for our forward progress, and adds valuable expertise to our existing Board and Management team'.

Terry Gardner's appointment has been approved by the Board of Directors but is subject to customary regulatory approval.

In addition, Goldbrook announces that pursuant to its stock option plan, an aggregate of 6,000,000 incentive stock options have been granted to various employees, directors and consultants. The Options have an exercise price of $0.31 with a five year term. The grant of options remains subject to regulatory approval.

(signed) "David Baker", Chairman and Director

Cautionary Note Regarding Forward-Looking Statements

Certain of the statements made herein may contain forward-looking statements or information within the meaning of Canadian securities laws and the applicable securities laws of the United States. Such forward looking statements or information include, but are not limited to, statements or information with respect to Goldbrook's plan for future exploration and development of its properties.

Forward-looking statements or information are based on a number of estimates and assumptions and are subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking statements or information. Should one or more of these risks and uncertainties materialize, or should underlying estimates and assumptions prove incorrect, actual results may vary materially from those described in forward looking statements or information. Factors related to such risks and uncertainties, and underlying estimates and assumptions include, among others, the following: the ability of Goldbrook to advance development of its properties; price volatility of nickel and other metals; impact of any hedging activities, including margin limits and margin calls; discrepancies between actual and estimated production, between actual and estimated resources, and between actual and estimated metallurgical recoveries; mining operational risk; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign investment; speculative nature of mineral exploration; defective title to mineral claims or property, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. Accordingly, undue reliance should not be placed on forward looking statements or information. We do not expect to update forward-looking statements or information continually as conditions change, except as may be required by law.

Neither 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.

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