Goldbrook Ventures Inc.

Goldbrook Ventures Inc.

May 26, 2009 11:23 ET

Goldbrook Confirms Contracts for 2009 Exploration Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 26, 2009) -


Goldbrook Ventures Inc. ("Goldbrook") (TSX VENTURE:GBK) is pleased to announce that it has concluded contracts for all program elements of its planned 2009 exploration in the Raglan belt in Ungava, Quebec. The 2009 Goldbrook program, in cooperation with project partner Jilin Jien Nickel Industry Co., Ltd. of Jilin China, will entail a 70-person exploration camp and have a budget in excess of $15 million. The work will follow-up on the highly successful 2008 exploration, which resulted in the discovery of extensive nickel sulphides within the Mystery zone.

Goldbrook has expended considerable effort over the winter months working with in-house geoscience staff, geological and geophysical consultants to review and analyze the company geophysical and geological databases and to compile geoscience data for the property. The result of this work has been the identification of a significant number of new targets for drill testing, particularly within the Mystery-Delta region. The planned program will better define the Ni-Cu-Co-PGE sulphide potential within the company's extensive Raglan nickel belt property holdings.

This year's exploration program will include in excess of 15,000 metres of drilling; sixteen hi-priority targets have been selected for drill testing, most of which are new showings with geological and geophysical characteristics similar to previous discoveries at Mystery, Getty and Sylvie. In addition, there will be an extensive program of geological mapping and geochemistry to improve the Company's knowledge of the setting and characteristics of the ultramafic rocks in the property area. Goldbrook plans to undertake additional VTEM surveys which have proven highly valuable in identifying new target zones for Ni-Cu-PGE mineralization.

New geoscience tools will also be deployed to the Raglan property as part of this year's program. Goldbrook will utilize an Innov-X Systems XRF Analyzer in field operations. This sophisticated tool provides real time analysis of metal content in rock, drill core and other earth materials. This helps with drill planning and most importantly provides immediate feedback to the regional mapping, geochemistry and prospecting programs.

Current planning is to mobilize equipment, drill crews and geological staff in mid-June with exploration work starting before the month end. The program is planned to run from about mid June into mid September.

Brian Grant, P.Geo. (President), Jamie Pardy P.Geo. (Goldbrook's Exploration Manager), and Ginette Carter, P.Geo. a consulting geologist to Goldbrook, are the designated Qualified Persons for Goldbrook Venture's Raglan Project. These individuals will supervise drill program, geological surveys and ensure control/quality assurance programs for the Raglan project during 2009.


Brian Grant, P.Geo, President and COO

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

This press release contains "forward-looking information" that is based on Goldbrook's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Goldbrook's mineral discoveries, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect", "anticipate", "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Goldbrook's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related to drilling results; the ability to raise sufficient capital to fund exploration; changes in economic conditions or financial markets; changes in prices for Goldbrook's mineral products or increases in input costs; 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.

This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Goldbrook disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the content of this press release.

Contact Information

  • Goldbrook Ventures Inc.
    Brian Grant, P.Geo
    President and COO
    (604) 683-8083 or Toll Free: 1-888-488-9884
    (604) 683-8087 (FAX)