Goldcliff Resource Corporation

Goldcliff Resource Corporation

November 01, 2007 15:00 ET

Goldcliff Resource Corporation: Panorama Ridge Trenching Expands Gold Zones, Includes 19 Metres of 2.15 gm/t Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 1, 2007) - Leonard W. Saleken, Chairman of Goldcliff Resource Corporation (TSX VENTURE:GCN) is pleased to report initial surface gold trenching results of the 2007 trenching program at Goldcliff's 100% owned Panorama Ridge property near Hedley, B.C. The results reported herein indicate that the two most significantly developed zones, the York-Viking and the Nordic, remain open for expansion. The trenching program consisted of 29 trenches totalling 1,008 metres of surface sampling, 8 of which are reported in this release The trenching covers the Nordic, Thor and York-Viking zones. The gold values are highlighted by 19 metres grading 2.15 grams per tonne gold with a high-grade section grading 5.19 grams per tonne gold. The gold results expand the mineralization in the northeast towards the Nordic zone.

The Nordic trenches have extended the gold mineralization by 17 metres in a northerly direction, exposing new gold mineralization beyond the known surface showings:

Trench (#) From (m) To (m) Interval (m) Au (g/t)
ND142 0.00 29.10 29.10 1.56
Includes 7.00 25.70 18.70 2.15
Includes 9.00 15.40 6.40 3.09
Includes 11.10 14.60 3.50 5.19
ND143 0.00 16.90 16.90 0.67
Includes 4.00 16.00 12.00 0.91
Includes 4.00 13.00 9.00 1.11
Includes 8.00 11.00 3.00 2.28

The Thor trenches have extended the gold mineralization of the northern portion of the York-Viking zone in a northeast direction towards the Nordic showing. These two trenches confirm that the surface gold mineralization extends some 30 metres from drill holes 26072 and 26075, which represents the northeast boundary of the York-Viking zone drilled in 2006:

Trench (#) From (m) To (m) Interval (m) Au (g/t)
TH146 0.00 58.30 58.30 0.30
Includes 0.00 26.00 26.00 0.55
Includes 0.00 10.00 10.00 0.72
Includes 17.00 25.00 8.00 0.73
TH147 0.00 32.00 32.00 0.24
Includes 8.00 16.00 8.00 0.40
Includes 8.00 12.00 4.00 0.55

The York-Viking trenches, along with the previous trenches, signified that the gold mineralization is contained in northwest-southeast fault-related gold mineralized blocks. The gold blocks are offset in a general southeast direction and move in a general northeast direction. As such, trenching in this area can and does move in and out of the gold mineralized zone where fault offsetting occurs. Trenches YK149 and YK151 are located in the gold mineralized blocks that contain the gold mineralized zone (GMZ):

Trench (#) From (m) To (m) Interval (m) Au (g/t)
YK148 0.00 16.30 16.30 0.05
YK149 0.00 16.30 16.30 0.12
Includes 1.00 10.00 9.00 0.21
YK150 0.00 10.80 10.80 0.08
YK151 0.00 9.20 9.20 0.48

The Panorama Ridge property contains a large surface area of gold mineralization related to silica-iron alteration (skarn) in sedimentary rocks from the Hedley Formation of the Triassic Nicola Group. The gold mineralization occurs over an area of approximately two square kilometres, only 0.72 square kilometres of which (or 36 per cent) consist of the York-Viking gold zone. Prior to the 2007 exploration program, the trenching and drilling in the York-Viking zone outlined an area of gold mineralization measuring 375 metres in a northeast-southwest direction and 193 metres across. The York-Viking zone is the most explored area and was the focus of the 2007 drilling program. The Nordic, Thor, Spar and Tower zones remain wide-open and will be further explored. The York-Viking zone map displaying the area of the gold zone, the gold trends and their gold values is posted on Goldcliff's website:

The assay results from the remaining 21 trenches are expected in the near future.

In addition to the trenching, a total of 2,827 metres of a planned 10,000-metre diamond drill program have been completed in 32 drill holes. All the holes were drilled on the York-Viking zone. The core from 4 holes has been sampled and dispatched to the assay laboratory. The core from the remaining holes is being cut and sampled on a daily basis. The assay results will be disclosed on a continuing basis as received. The drilling for the remainder of the program is expected to resume in early spring, as conditions permit.

Leonard W. Saleken, PGeo, is the qualified person as defined by National Instrument 43-101 who supervised the preparation and verification of the technical information in this release.


Leonard W. Saleken, PGeo, Chairman, CEO, Director

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this news release, gcnnews2718.

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