Goldrush Resources Ltd.

Goldrush Resources Ltd.

October 31, 2007 12:16 ET

Goldrush Announces Resumption of Core Drilling Program at Ronguen Gold Discovery

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 31, 2007) - Goldrush Resources Ltd. (TSX VENTURE:GOD) ("Goldrush" or the "Company") is pleased to announce that an exploration program consisting of a minimum of 1,800 metres of core drilling and 1,300 metres of trenching was initiated at the Ronguen Gold Zone in Burkina Faso, West Africa on October 21, 2007. The objectives of this program are to:

- Provide sufficient information to allow for the independent calculation of a National Instrument 43-101 qualified resource,

- expand the mineralized zone below a depth of 80 metres,

- drill along strike to test for easterly and westerly extensions of the gold zone, and

- explore a parallel structure located a few hundred metres to the south of the main Ronguen Gold Zone by trenching.

Assay results from this exploration program are expected late in Q4, 2007 and a news release with these results will be published as soon as they are available. An independent resource calculation will also be commissioned upon receipt of these results.

Incentive stock options granted

The Board of Directors has granted director and employee incentive stock options for the purchase of 1,660,000 common shares pursuant to Goldrush's incentive stock option plan. The incentive stock option plan is a rolling plan compliant with the prevailing policies of the TSX Venture Exchange. The incentive stock options granted are subject to a two year vesting provision and a four month hold period from the date of grant and are exercisable for three years at $0.31 per share, being the closing market price of the Company's shares on the TSX Venture Exchange on October 30, 2007.

There are a total of 3,150,000 incentive stock options outstanding after the current grant which represent approximately 5.0 % of the outstanding issued capital.

Non-brokered private placement

Goldrush management has arranged a non-brokered private placement of up to 100,000 units of its securities at a price of $0.31 per unit for gross proceeds of up to $31,000. Each unit will be comprised of one common share and one common share purchase warrant entitling the holder to purchase one additional share at a price of $0.38 for a period of one year. No finder's fees or commissions are payable for this placement. Proceeds of the placement will be used for working capital purposes. The financing is subject to the approval of the TSX Venture Exchange.

Discussion forum established on Goldrush website

In order to provide shareholders and potential investors with the highest level of communication possible, not only with management but with other interested parties as well, there has been a discussion forum added to the website. Please visit, complete the simple sign-up form and join a discussion group. As always, management also welcomes your emails and telephone calls. Contact information is available on the Company's website at

About Goldrush: Goldrush is a mineral exploration company focused on gold exploration in Burkina Faso, West Africa with an established organization of people and projects to enable aggressive growth. Through a strategic alliance with High RiverGold Mines Ltd. Goldrush can utilize High River's processing facilities and infrastructure without incurring all the capital costs associated with developing a standalone mine, thereby enhancing Goldrush's gold discoveries within trucking distance of the processing facility.


Len Brownlie - President

FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward looking statements.

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

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