Staccato Gold Resources Ltd.
TSX VENTURE : CAT

Staccato Gold Resources Ltd.

November 20, 2008 09:30 ET

Staccato Reports Results From Its 2008 South Eureka Exploration Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 20, 2008) - Staccato Gold Resources Ltd. (TSX VENTURE:CAT) is pleased to announce partial results from the 2008 exploration drilling campaign at its extensive South Eureka Property. The drilling component of the program is now complete.

Three separate project areas were drilled during the program including:

- South Ratto Ridge project area - 19 holes for 16,528 feet (5,038 metres); most assays received.

- North Lookout Mountain project area - 6 holes for 6,500 feet (1,981 metres); assays pending.

- Windfall Patents project area - 4 holes for 1,655 feet (504 metres); assays pending.

- Total of 24,683 feet (7,523 metres) of combined RC and core drilling in 29 holes completed during the program. Please refer to Staccato's website (www.staccatogold.com) for a detailed map of the drill hole locations.

All of the drilling completed was outside of the existing Lookout Mountain resource area. An approved Plan of Operations is expected to be in hand by mid year 2009 which will allow for future drilling throughout the entire district.

Highlights of the Program to Date:

- Drilled approx. 20% more than budgeted due to cost efficiencies.

- Drill program targeted zones along extensive Ratto Ridge structural zone and along the prospective Windfall trend.

- 90 feet @ 0.027 opt (27.4 metres @ 0.926 g/t) gold drilled at South Adit target, a mineralized zone located 2 miles (3.2 kilometres) south of the Lookout Mountain resource area.

- Extended mineralized zone at South Adit by 200 feet (61 metres) in dip direction and by 650 feet (198 metres) on strike.

- Program will provide sufficient data to complete the first resource estimate for the South Adit area, one of many mineralized zones that occur within the extensive South Eureka district.

The main objectives of the program were to: 1) confirm the grade of existing mineralization, 2) extend known mineralization on strike and down dip, and 3) drill deeper to allow for better understanding of the stratigraphy and structure in the South Ratto Ridge and North Lookout Mountain Project areas.



Summary table of results:
---------------------------------------------------------------------------
Thick-
ness Gold
Hole From To ft oz/ton
Number ft (m) ft (m) (m)(i) (g/t) Comments
---------------------------------------------------------------------------
South Ratto Drilling Including South Adit, South Pinnacle Peak, and Triple
Junction targets
---------------------------------------------------------------------------
BHSE-001 No Significant Intercepts
---------------------------------------------------------------------------
BHSE-002 340 365 25 0.027
(103.6) (111.3) (7.6) (0.926)
---------------------------------------------------------------------------
BHSE-003 No Significant Intercepts
---------------------------------------------------------------------------
BHSE-004 No Significant Intercepts Weakly anomalous gold (5-85 ppb)
from 485' (148 m) to 560'
(170.7 m) in altered structure
from 485' (148 m) to 615'
(187.5 m)
---------------------------------------------------------------------------
BHSE-005 385 475 90 0.027 Includes 25' (7.6 m) at 0.041 opt
(117.4) (144.8) (27.4) (0.926) Au (1.406 g/t) from 410' (125 m)
to 435' (132.6 m)
---------------------------------------------------------------------------
BHSE-006 No Significant Intercepts
---------------------------------------------------------------------------
BHSE-007C 439 492 53 0.011 Assays below 732' (223 m) are
(133.8) (150) (16.2) (0.377) pending
---------------------------------------------------------------------------
BHSE-008 120 125 5 0.018 Thick, strongly altered,
(36.6) (38.1) (1.5) (0.617) structural zone carrying anomalous
gold (greater than 50 ppb)
---------------------------------------------------------------------------
BHSE-009 No Significant Intercepts Thick, strongly altered,
structural zone carrying anomalous
gold (greater than 50 ppb)
---------------------------------------------------------------------------
BHSE-010 115 125 10 0.011 Within thick, strongly altered
(35) (38.1) (3.1) (0.377) structural zone from 85' (25.9 m)
to 180' (54.9 m) carrying
anomalous gold
---------------------------------------------------------------------------
160 165 5 0.012
(48.8) (50.3) (1.5) (0.411)
---------------------------------------------------------------------------
BHSE-011 No Significant Intercepts Several thick zones of anomalous
gold in large structural zone from
105' (32 m) to 290' (88.4 m) in
depth
---------------------------------------------------------------------------
BHSE-012 225 230 5 0.012 Intercept within 150 foot (45.7 m)
(68.6) (70.1) (1.5) (0.411) thick altered structure carrying
anomalous gold
---------------------------------------------------------------------------
BHSE-013 No Significant Intercepts
---------------------------------------------------------------------------
BHSE-014 340 380 40 0.01 Includes 20' (6.1 m) @ 0.015 opt
(103.6) (115.8) (12.2) (0.343) (0.514 g/t) from 350' (106.7 m)
to 370' (112.8 m) in depth
---------------------------------------------------------------------------
BHSE-015 No Significant Intercepts
---------------------------------------------------------------------------
BHSE-016 0 85 85 0.014 Includes 50' (15.2 m) to 55'
(0) (25.9) (25.9) (0.480) (16.8 m) @ 0.051 opt (1.750 g/t)
gold and 80' (24.4 m) to 85'
(25.9 m) @ 0.066 opt (2.263 g/t)
gold
---------------------------------------------------------------------------
BHSE-017C Pending
---------------------------------------------------------------------------
BHSE-022C Pending
---------------------------------------------------------------------------
BHSE-024C Pending
---------------------------------------------------------------------------
North Lookout Mountain Target
---------------------------------------------------------------------------
BHSE-018 - 21, 23, 25C Pending
---------------------------------------------------------------------------
Windfall Patents Drilling
---------------------------------------------------------------------------
BHWF-01 - 04 Pending
---------------------------------------------------------------------------
(i) drill hole thickness


The 19 drill holes in the South Ratto Ridge project area covered three separate targets including South Adit (7 holes for 6,192 feet or 1,887 m), South Pinnacle Peak (7 holes for 5,930 feet or 1,807 m), and Triple Junction (5 holes for 4,406 feet or 1,343 m).

At the South Adit target, mineralization is controlled along a north striking zone containing strong argillic alteration, variable decalcification, moderate to strong silicification, and strong iron oxide mineralization. Previous drilling showed mineralization to exist over a strike length of 1,220 feet (372 m) and a down dip extent of 300 feet (91 m).

The drilling into the South Adit zone extended mineralization down dip in holes BHSE-002 (intersected 25' of 0.027 opt (7.6 m @ 0.926 g/t) gold) and BHSE-005 (90' at 0.027 opt (27.4 m @ 0.926 g/t) gold) an additional 200 feet (61 m). Hole BHSE-007C extended mineralization in the South Adit zone an additional 650 feet (198 m) on strike to the north. Hole BHSE-007C intersected 53 feet at 0.011 opt (16.2 m @ 0.377 g/t) gold at a depth of 439 feet (134 m). Holes BHSE-001, BHSE-003, BHSE-004, and BHSE-006 did not intersect significant mineralization, but contained strong clay altered gouge containing anomalous gold (greater than 35 ppb) within the South Adit structural zone. These holes indicate that additional controls, such as favorable host rocks and pinch and swell in the fault zone, are necessary to concentrate mineralization.

Holes BHSE-006 and BHSE-007C were drilled near the intersection of the South Adit mineralization and a Northwest trending mineralized fault zone controlling mineralization at the South Pinnacle Peak target. Hole BHSE-006 targeted the projected intersection zone at shallow depths, while hole BHSE-007C targeted the NW South Pinnacle Peak zone at depth. Hole BHSE-006, as discussed above, did not intersect mineralization. Hole BHSE-007C intersected a dike filled with weakly silicified and argillically altered fault zone at a depth of 1280' (390 m), which is interpreted to represent this northwest trending structure. Assays in hole BHSE-007C are pending below 732 feet (223 m) in depth.

Other holes drilled into the South Pinnacle Peak zone include BHSE-008, BHSE-009, BHSE-010, BHSE-011, BHSE-012, BHSE-017C and BHSE-022C. Assay results for holes BHSE-008 through BHSE-012 contain thick intercepts of anomalous gold mineralization within very strongly silicified and argillized limestone and dolomite. Hole BHSE-022C, targeting the deep down dip extent of the northwest trending structure north of hole BHSE-007C, was lost before reaching the zone, but did encounter a new structure containing over 200 feet (61 m) of strongly argillized, decalcified, and silicified shale and limestone interbeds in the upper 300 feet (91 m) of the hole. Assays are pending for hole BHSE-022C.

Five holes (BHSE-013, BHSE-014, BHSE-015, BHSE-016, and BHSE-024C) were drilled into the Triple Junction target. Holes BHSE-013 and BHSE-014 were drilled to intersect, at depth, mineralization on a north trending structure. Both holes intersected two separate structural zones characterized by strong argillic alteration, silicification, and strong iron oxide staining. Thick zones of anomalous gold were encountered in both holes with Hole BHSE-014 containing 40' of 0.010 opt (12.2 m @ 0.343 g/t) gold at 350 feet (106.7 m) depth. Holes BHSE-15 and BHSE-16 targeted mineralization in a poorly understood structure. Hole BHSE-015 was drilled due west, encountering no mineralization and only weak alteration. Hole 16 was drilled to the east-northeast and intersected 85 feet at 0.014 opt (25.9 m @ 0.480 g/t) gold in strongly altered rock at the top of the hole.

Additional results will be announced in the coming weeks, including cynanide shake test results that were completed on all assays over 0.01 opt (0.343 g/t) gold to determine potential for cyanide leaching.

Following completion of the current program, Staccato will perform a comprehensive analysis and assessment of all of the new data in preparation for future exploration of the extensive and highly prospective South Eureka property.

All assays for the program were performed by Inspectorate America Corporation, an ISO 9001 certified assay lab. Drill samples were analyzed for gold using a Fire Assay method with an ICP-AES finish on a 30 gram aliquot. All analyses containing 0.01 opt (0.343 g/t) gold or greater will be analyzed using a hot cyanide leach with an AA finish. Check assays on significant intercepts are pending and will be completed by ALS Chemex Laboratories, an ISO 9001 certified laboratory.

The South Eureka property encompasses an area of approximately 43 square kilometres (27 square miles) and is comprised of several projects. The property is located in the Eureka Mining district within the Battle Mountain - Eureka Trend, also referred to as the Cortez Trend. Barrick's Archimedes (Ruby Hill) mine is located approximately 7.2 kilometres (4.5 miles) north of the Staccato claim area. The South Eureka property has a history of gold production from several open pits including the Windfall Mine, one of Nevada's first open pit heap leach mines. Historic production from the district totals in excess of 2 million ounces of gold.

Evans Mine Drilling

Further to the announcement on July 16, 2008 that discussed partial results from the three-hole drill program completed on the Evans Mine property, Staccato has now received the balance of the results for hole ES-3. No significant gold assays were encountered in hole ES-3 from 592 feet (180.4 metres) in depth to the end of the hole. No further work is planned on the Evans property at this time.

This press release was reviewed by Gary Edmondo, M.Sc. Geology, who is Staccato's Senior Exploration Manager, and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.

On behalf of the Board of Directors

STACCATO GOLD RESOURCES LTD.

Grant Ewing, President & CEO, Director

About Staccato Gold Resources Ltd.: Staccato Gold is a well funded junior gold exploration company with resources and advanced stage exploration assets located exclusively in Nevada. The Company has assembled a portfolio of prospective gold prospects in the dominant gold trends in Nevada.

Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, are forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

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

Contact Information