Greenock Resources Inc.
TSX VENTURE : GKR

Greenock Resources Inc.

March 25, 2010 11:26 ET

Greenock Receives NI 43-101 Report on Nevada Gold Property

TORONTO, ONTARIO--(Marketwire - March 25, 2010) - Greenock Resources Inc. (TSX VENTURE:GKR) ("Greenock") is pleased to announce that has received an independent NI 43-101 geological report on the Needles property located in Nye County, Nevada.

The Needles property is 100% owned by Greenock, is located 60 miles east of Tonapah and was organized in 1919 around the Arrowhead and Arrowhead Extension Mines that produced silver-antimony-gold ore from 1920 to 1939. This early development included sinking the inclined Arrowhead shaft to a depth of 350 feet with drifting on four levels and a 150 foot two compartment shaft with two working levels.

The principal mineral target type sought in the Needles area is epithermal gold, silver and base metals mineralization. Epithermal gold-silver deposits have been the largest producing deposits in northern Nye County since discovery of silver-rich veins in the Tonopah district in the early 1900's. The Needles geological setting is clearly analogous in many respects to that of the Round Mountain Au-Ag Mine (Barrick Gold Corp-50%, Kinross Gold Corp-50%) located approximately 65 miles NW of the property. The Round Mountain Mine is a classic epithermal deposit with a high tonnage low grade operation that has produced more than 13,200,000 oz of gold and 11,000,000 oz of silver since 1907; production in 2008 was 520,000 oz of gold and 1,000,000 oz of silver.

A three stage program of field work is planned for the Needles property at an estimated cost of $1.0 million with the first two stages costing approximately $360,000. The program will build on previous exploration on the property that has encountered mineralization with a strong geological similarity to the epithermal deposit at Round Mountain.

About Greenock:

Greenock Resources Inc. (formerly Simberi Mining Corporation) is a Canadian based international mineral development company that focuses on developing a portfolio of natural resource properties.

Greenock's main development project is the Kakanda Copper/Cobalt project in the Democratic Republic of the Congo that is a joint venture with Gecamines, the Congolese State mining company. This copper/cobalt deposit in the Central African Copper Belt is adjacent to the Tenke Fungurume project presently being developed by Freeport McMoRan Gold & Copper Company.

The Kakanda tailings project has NI 43-101 measured and indicated resources of 18.5 million tonnes with an average grade of 1.25% copper and 0.15% cobalt. Adjacent hard rock deposits have a historical resource of 18.6 million tonnes with an average grade of 3.19% copper and 0.19% cobalt.

Greenock holds a 100% interest in the Needles gold/silver property located in the Arrowhead mining district Nye County, Nevada. The Barrick – Kinross Round Mountain Gold Mine is located approximately 65 miles NW of the property.

Greenock's holdings in Australia are the nickel and platinium group metal exploration property Merlot and a share position in the listed uranium exploration company Raisama.

This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". Howard Coates, P.Geo., is the qualified person who has reviewed this material on behalf of the Company. All dollar amounts are noted in Canadian dollars unless otherwise stated in this release.

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

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