Galore Resources Inc.
TSX VENTURE : GRI

Galore Resources Inc.

July 08, 2008 08:30 ET

Galore Confirms Gold Values on Dos Santos Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 8, 2008) - Galore Resources Inc. (TSX VENTURE:GRI) announces analytical results ranging up to 1,509 ppb Au (1.5 gm/tonne) gold from the initial trenching and rock-sampling program on its 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.

Assays have been reported for 156 rock samples, the first of three sample shipments to the Mexico preparation facility of Acme Analytical Laboratories Ltd. These samples were taken from trenches and outcrops and from old pits and underground workings in two areas of the property. One-hundred-seven samples are from the San Jose area, at the north end of the property, and 45 samples from the Los Gemelos mine area. The Los Gemelos mine is a small artisanal gold mine with production dating back to the 1950's.

The program in the San Jose area included sampling hand-trenches, numerous artisanal pits and several abandoned underground workings. This area is underlain by Cretaceous-age carbonate rocks, which have been extensively altered and re-crystallized. Previous artisanal mining activity in the area centered on structurally controlled iron oxide occurrences. Continuous chip samples were taken over two-metre lengths, where possible. Representative samples were also taken from old waste dumps.

The San Jose portion of the sampling program confirms a strong association of gold with these iron-oxide occurrences. Gold analyses range from 2.4 to 1,509 ppb gold with 50% of the samples exceeding 44 ppb gold and eleven samples exceeding 500 ppb gold (0.5 grams/tonne) gold. The three highest analyses range from 1,018 to 1,509 ppb gold (1 to 1.5 gm/tonne). The highest concentrations obtained in bedrock are 1,018 ppb gold (1.1 grams/tonne gold) over 1.5 metres and 1,008 ppb gold (1 gram/tonne) average of two samples over four metres. All samples lie within a one-kilometre diameter circular carbonate and silica alteration anomaly, which is evident on ASTER satellite images of the area.

"The association of highly anomalous gold values with the iron-oxide occurrences at San Jose is very encouraging. This association occurs elsewhere in the district and indicates a new target within the northern limits of the Dos Santos Project," said Michael Byrne, Galore's president. The San Jose target is located four kilometres north of Galore's Los Gemelos' skarn-hosted, gold mine.

Sampling at the Los Gemelos mine included chip sampling of hand excavated trenches 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.

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 calc-silicate altered carbonate host rocks. To date, the results for only 45 samples have been received for the Los Gemelos area. Gold in these analyses range from trace to 1,416 ppb gold. Further Los Gemelos results are expected within one week and an additional 100 samples have been shipped to Acme Analytical's preparation laboratory. A total of approximately 500 samples are estimated from this phase of the sampling program.

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 the Penasquito deposit and Canplats discovery as models.

The Dos Santos exploration program is being managed by Octavio Gonzalez, Galore's Vice-President Exploration, 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.

Ray D. Torresan, Chief Executive Officer

Cautionary Note Regarding Forward-Looking Information: The Company expressly warns readers not to rely on the information herein for investment or other related purposes. Accordingly, any use of this information is at your own risk and without liability to the company. The information contained herein is not, and under no circumstances is to be construed as either a public or a private offer or solicitation to purchase securities in the capital stock of Galore Resources Inc. The reader is referred to his/her professional investment advisor regarding investment or related decisions respecting the securities of the company. No securities commission or similar regulatory authority has passed on the merits of or reviewed the information contained herein.

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

Contact Information