G4G Resources Ltd.
TSX VENTURE : GXG

G4G Resources Ltd.

June 10, 2008 09:00 ET

G4G Resources Announces 3,000 Metre Iron and Copper-Gold Drilling Program, Sweden

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 10, 2008) - G4G Resources Ltd. (TSX VENTURE:GXG) ("G4G") today announced plans to drill 3,000 metres during 2008, with a total expenditure of US$750,000, on properties under option from Teck Cominco Limited's wholly owned subsidiary TCL Sweden Ltd. ("TCL Sweden"), located in the Norrbotten District of northern Sweden (Refer to news release of March 31, 2008). Norrbotten is a world-class mining district which hosts the Kiruna and Malmberget iron ore mines.

On three of the properties under option (Masugnsbyn, Vittangi and Vathanvaara) the Geological Survey of Sweden estimates a combined resource of 134.2 million tonnes of iron ore grading between 25% and 39.7% Fe (Note: The historical resource numbers for the properties have not been verified by a Qualified Person under NI 43-101).

The objective of the exploration program is to start to upgrade the historical iron ore resources to the NI 43-101 compliant resource category with the eventual aim of producing hot briquetted iron (HBI). G4G Resources has signed a memorandum of understanding with IMBS of South Africa to utilize the Finesmelt™ technology to produce HBI (Refer to news release dated March 3, 2008).

"Based on the large amount of exploration work conducted over the years, the eight properties under option with TCL Sweden exhibit strong potential for the discovery of a sizeable resource," stated Peter Arendt, President and CEO of G4G Resources Ltd. "The 2008 program is the first step to confirm the potential for a significant iron ore resource, which fits with G4G's focus on iron ore and iron production."

The properties targeted for drilling in 2008 are Masugnsbyn, Vittangi and Fjallasen.

The Masugnsbyn property hosts a number of magnetite (iron oxide) occurrences. The iron ore at Masugnsbyn was discovered in 1644 and a blast furnace was built on the site soon thereafter, with iron production continuing until 1805. A number of exploration campaigns were conducted in the Masugnsbyn iron ore field from 1914 to 1970, including ground geophysical surveys and diamond drilling by the SGU from 1965 to 1970. The largest orebody reported by the SGU is quoted as 60 million tonnes of near-surface skarn iron ore at 25% to 30% Fe.

The Vittangi property includes several magnetite occurrences associated with a linear, northeast trending magnetic anomaly. Historical work conducted on Vittangi estimate resources of approximately 31.2 million tonnes with Fe content ranging from 30.5% to 36.3% (Source: SGU). Advanced exploration conducted on other areas within Vittangi has identified occurrences of copper, lead, zinc, cobalt and nickel.

The Fjallasen property is comprised of iron, copper and gold occurrences with coincident magnetic, gravity and Cu geochemical anomalies.

While not a drill target for 2008, the Vathanvaara property contains three magnetite occurrences which will be drilled in the future. The mineralization is associated with a north-south trending, linear magnetic feature. Historical work conducted on these prospects estimates total resources of approximately 43 million tonnes with Fe content ranging from 31.3% to 39.7% (Source: SGU).

G4G has budgeted US$750,000 for the 2008 exploration program, which corresponds with the expenditure required for the first year under the option agreement with TCL Sweden. The program will initially focus on target definition on the Masugnsbyn, Vittangi and Fjallasen properties this summer followed by 3,000 metres of diamond drilling in the winter. While the principal target is iron ore the Norrbotten district is also known for its potential to host iron-oxide copper-gold systems and a number of these types of targets will also be tested.

"The Board and Management of G4G continues to be enthusiastic about the Norrbotten properties and the 2008 exploration program, both from the perspective of the potential that the properties exhibit and the very positive business environment in Sweden for exploration and mine development," continued Mr. Arendt. "The Swedish Government is highly supportive of mining and Sweden's well-qualified workforce allows for the efficient execution of exploration projects. While G4G is focusing on iron ore exploration in 2008, the intention is to expand the program to include exploration for other minerals, including copper and gold, which occur on the other properties covered in the option agreement with TCL Sweden."

The exploration program described in this news release is being conducted under the supervision of Mr. Christopher K. Hutchings, P. Geo., who is the qualified person as specified in National Instrument 43-101 for technical disclosure. Mr. Hutchings has reviewed and approved the technical information contained in this news release.

Cautionary Statement

Work performed on the properties has been insufficient to classify historical estimates as current resources. Historical resource tonnage and grades for Masugnbyn, Vittangi and Vathanvaara iron occurrences have not been verified by a Qualified Person under NI 43-101 requirements. The Company, therefore, is not treating historical resource estimates as current estimates and investors are cautioned not to rely upon historical estimations.

About G4G Resources

G4G Resources is a Canadian-based mineral exploration and development company focused on iron ore and iron production projects. On March 31, 2008, the Company announced the signing of an agreement with TCL Sweden Ltd., a wholly owned subsidiary of Teck Cominco Limited, for G4G to option eight mineral properties in the Norrbotten iron ore mining district of Sweden. On March 3, 2008, the Company announced the execution of a Memorandum of Understanding (MOU) with IMBS to establish a joint venture to utilize Finesmelt™ technology, a process which converts iron ore fines into high quality iron units. Additionally, G4G is evaluating a number of other strategic growth opportunities to create and enhance shareholder value.

Forward-Looking Statement

This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2006 Annual Report filed with SEDAR on April 23, 2008.

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