Goldrush Resources Ltd.
TSX VENTURE : GOD

Goldrush Resources Ltd.

December 10, 2009 16:27 ET

Goldrush Terminates Strategic Alliance Agreement With High River Gold Mines Ltd.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 10, 2009) - Goldrush Resources Ltd. ("Goldrush" or the "Company")(TSX VENTURE:GOD) hereby announces that it will withdraw from the Strategic Alliance Agreement ("SAA") between Goldrush and High River Gold Mines Ltd. ("High River") effective December 31, 2009.

Commenting on the situation, Goldrush President and CEO Len Brownlie said: "Goldrush has been a loyal partner to High River and has very patiently waited while High River has attempted to resolve its financial and management issues over the past year. Regrettably, the parties have not been able to agree on modified terms to the SAA in a manner that would be considered fair by both parties. As such, Goldrush has no option but to withdraw from the SAA. Following termination, the Ronguen gold deposit will remain 100% owned by Goldrush, subject to a 50% back-in right to High River. The one time back-in right is time limited to within 60 days of the completion of a feasibility study for a cost of 150% of Goldrush's cumulative expenditures on the two permits that contain this deposit, that based on current expenditures would be approximately C$4.8M. Goldrush now looks forward to (i) extending and better defining the mineralization at the Ronguen deposit; (ii) discovering other deposits elsewhere on the two permits that contain Ronguen and (iii) acquiring projects in Burkina Faso and elsewhere in West Africa without any back-in rights to High River. We look forward to reactivating Goldrush's exploration efforts to take advantage of the current strong gold market." 

 For further information on Goldrush Resources Ltd., shareholders and other interested parties are invited to visit the Company's website at www.goldrushresources.ca.

ON BEHALF OF THE BOARD OF DIRECTORS,
GOLDRUSH RESOURCES LTD.
"Len Brownlie"
Len Brownlie – President

About Goldrush: Goldrush is a mineral exploration company focused on gold exploration in West Africa.

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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