Galore Resources Inc.

Galore Resources Inc.

July 16, 2008 09:30 ET

Galore Assays Up to 6.5 gm/tonne Gold at Dos Santos

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 16, 2008) - Galore Resources Inc. (TSX VENTURE:GRI) announces a second release of analytical results ranging up to 6,542 ppb (6.5 gm/tonne) gold from its trenching and rock-sampling program on the Dos Santos Project, northern Zacatecas State, Mexico. The Dos Santos Project claims are located approximately 25 km north of Canplats Resources' recent gold discovery at its Camino Rojo project.

"We continue to receive encouraging gold results from our Dos Santos project. This confirms that a gold-mineralization event has occurred on our property. We are currently planning the next phase of our program, which includes a percussion drilling program to test a large target area of our property. The potential for this target area, which is covered by overburden and has never been drilled, is supported by our structural, stratigraphic and sampling work," said Michael Byrne, Galore's president.

Analyses have been received for an additional 154 rock samples, the second of three sample shipments to the Mexico preparation facility of Acme Analytical Laboratories Ltd. These samples were taken from trenches, outcrops, old pits and underground workings in two areas of the property. Sixty new samples for a total of 167 samples are from the San Jose area.

The sampling program in the San Jose area will evaluate the gold exploration potential of previously undocumented artisanal mining activity in the San Jose area at the north end of the project. The work is centered on structurally controlled iron-oxide occurrences and includes numerous pits and small underground mines. The area is underlain by Cretaceous-age carbonate rocks, which have been extensively altered and re-crystallized. Continuous chip samples were taken over lengths of up to two metres. Representative samples were also taken from old waste dumps.

The latest results for the San Jose area include a 1.5-metre chip sample returning 6,542 ppb (6.5 gm/tonne) gold. Eight additional new analyses range from 531 to 2,221 ppb (0.5 to 2.2 grams/tonne) gold, including 2,120 ppb (2.1 grams/tonne) gold over 2 metres, 1,532 ppb (1.5 grams /tonne) gold over 1 metre, 1,411 ppb (1.4 grams / tonne) gold over 2 metres and 1,230 ppb (1.2 grams/tonne) gold over 2 metres. This brings the total number of samples exceeding 0.5 grams/tonne gold, reported to date, to 20 or 12 % of the samples, half the samples exceed 46 ppb gold. The sampling is distributed widely within a circular, one-kilometre-diameter carbonate and silica alteration zone, which has been identified on ASTER satellite images of the area. Results to date confirm a strong association of gold with these iron-oxide occurrences. Gold values are also associated with anomalous arsenic, mercury, antimony and thallium concentrations, which are known pathfinder elements associated with mineralization in the historic Concepcion del Oro mining district.

The Los Gemelos mine is located four kilometers south of the San Jose target. Previous work at Los Gemelos by artisanal miners concentrated on the production of free gold associated with carbonate veins. This work, carried out in the 1950's, includes 40 metres of underground workings. Galore's hand-trenching program is designed to provide information on mineralization controls and gold-grade distribution over broad areas around the Los Gemelos carbonate veins and within the skarn and calcium-silicate altered carbonate host rocks. Samples from the Los Gemelos mine area, include chip samples from hand-excavated trenches, underground workings and from numerous artisanal pits. The trenches typically have a 20-metre length. Chip samples of bedrock, each two metres in length, were taken continuously along the trench for its entire length.

Analyses from 94 new samples were received for the Los Gemelos mine area, bringing the total to 139 samples. The new results for the Los Gemelos area include a chip sample returning 3,323 ppb (3.3 grams/tonne) gold over 2 vertical metres. Five additional new analyses range from 537 to 2,347 ppb (0.5 to 2.3 grams/tonne) gold, including 2,347 ppb (2.3 grams/tonne) gold over 1.7 metres and 1,210 ppb (1.2 grams /tonne) gold over 2 vertical metres. To date, seven samples exceeding 0.5 grams/tonne gold have been reported. The distribution of analyses from the area reflects the systematic nature of trenching and sampling in an area of the property, which has less bedrock exposure.

A third shipment of 103 rock samples has arrived at Acme Analytical's laboratory in Vancouver. Results are expected within two weeks.

The carbonate host rocks of the Los Gemelos mine area are located within the western limb of a north-south trending syncline, which trends south to the Canplats gold discovery. Although the core of the syncline is covered by sediments, the Upper Cretaceous Caracol Formation, the host rocks of the Canplats discovery, is interpreted by the Geological Survey of Mexico to overly these carbonate rocks in the core of this syncline. Galore intends to aggressively explore this geological trend for disseminated gold mineralization, using Goldcorp's nearby Penasquito deposit and Canplats' discovery as models.

The Dos Santos exploration program is being managed by Octavio Gonzalez, Galore's Vice-President Exploration for Mexico. Uwe Schmidt, P.Geo., Vice-President Exploration and Galore's Qualified Person as defined by Canada's National Instrument 43-101, is responsible for supervising the Dos Santos program and has verified the technical data in this release.

Samples were shipped to Acme Analytical's preparation facility in Guadalajara, Mexico and analyzed at Acme Analytical Laboratories' assay facilities in Vancouver, B.C. All samples were analyzed using Aqua Regia digestion and ICP-MS analysis on a 30-gram sample.

Galore Resources Inc. is a Canada -based mineral resources company focused on exploration for gold and copper in British Columbia and Mexico.


Ray D. Torresan, Chief Executive Officer

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