Galore Resources Inc.

Galore Resources Inc.

March 26, 2008 09:30 ET

Galore Names Equity to Manage 2008 Taseko Program & 2007 Taseko Drill Results Announced

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 26, 2008) - Galore Resources Inc. (TSX VENTURE:GRI) announces the appointment of Equity Engineering Ltd. ("Equity"), a leading Canadian mining exploration and development firm with international experience. Equity will manage the $3 million 2008 exploration program at the Taseko Lakes Project. Galore's 48,000 hectare Taseko Lakes Project covers prospective targets for gold, silver, copper and molybdenum mineralization and is located south of Taseko Mine's Prosperity Project near Williams Lake, British Columbia.

The 2008 program will include:

1. Complete review and assessment of 2006 and 2007 programs, including preparation of a summary technical report.

2. Twelve- to 20-person camp operating from June 15, to October 15, 2008.

3. Field exploration consisting of prospecting, mapping and sampling by a team of six geologists, two prospectors and two samplers.

4. A 1,700-soil-sample program over anomalies outlined from the 2006 and 2007 geophysical and geochemical surveys.

5. Property-wide 5,000-metre diamond-drill program testing known targets and new targets resulting from the 2007 and 2008 field work.

With over 20 years of exploration excellence, Equity has considerable local and international experience. Equity has managed projects in 24 countries on 5 continents and over 40 projects in British Columbia. In addition, Equity and its staff have previous experience in the Taseko Lakes area.

Taseko 2007 Drill Results:

Drill targets were designed to test a series of geophysical anomalies outlined by the 2000 line-kilometer TEM and magnetometer survey completed on the property earlier in 2007. The two holes drilled in the Battlement area of the property returned significant concentrations of copper and anomalous gold and silver concentrations over a drill-core interval of 23 meters. Drill-hole 07-02BA failed to reach the target depth. A second hole, 07-03BA, although terminated due to difficult drilling conditions, returned extensive sulphide mineralization with significant copper analyses and anomalies in gold, silver, antimony, bismuth and barium. The best intersection averages 1,125 ppm copper over 23 meters, and ranges from 13 to 3,755 ppm copper over individual 1.5 meter core-sample lengths. Over this 23-metre interval, silver analyses range from trace to 57 ppm and gold analyses range from 0.9 to 187 ppb.

Holes 07-04SP and 07-05SP tested a conductive zone in the Spokane area of the property. Both holes were terminated after failing to penetrate fault zones. The holes intersected a gently north-dipping pyritic zone before ending in faults. Analytical results for the holes returned no significant intervals of mineralization but the geochemical signature of the sulphide zone indicates the presence of intense alteration.

Hole 07-06FO tested a strong EM conductor within the Fortune area of the property. This hole returned anomalous arsenic concentrations associated with veins related to a fault. The highest concentration is 2,010 ppm arsenic and 41 ppb gold over 1.1 meters. Only a small portion of this conductor has been tested by drilling.

Galore budgeted for 2,400 meters of diamond drilling in 2007 and planned a mid-July start-up; however, the program did not begin on time due to permitting and equipment delays. Permits were finally received on September 18, but drill availability further delayed the start of the program until October 10. A total of 796 meters of the planned 2,400 meters was drilled in five holes before severe weather shut the program down on November 23, 2007. Seven drill holes were attempted at four sites with five holes penetrating into bedrock. Only two of the holes reached their planned target depth. Difficult drilling conditions caused the early termination of the three holes that penetrated bedrock. These delays and the resulting small number of samples have limited the proper evaluation the original group of targets laid out for the 2007 program. Complete evaluation awaits the continuation of the program as part of Equity's extensive $3 million 2008 exploration program.

"We are encouraged with the results of the 2007 airborne survey, the collaboration with the University of British Columbia and the extensive exploration programs in 2006 and 2007 and some of the abbreviated drilling results. We are, of course, disappointed that we were able to complete less than one-third of our 2007 drill program, but we look forward to testing our other numerous targets in 2008," said Michael Byrne, Galore's president. "Our 2008 season promises to be active and exciting. We are extremely pleased to have Equity assisting us," Byrne added. "Equity will provide top-notch geological expertise, a complete camp set-up, equipment and supporting personnel to efficiently run the entire program. Equity's involvement will enable Galore's core staff to manage the Taseko Lakes Project, while it continues its active exploration and acquisition program in the gold-rich Concepcion del Oro region in Zacatecas State, Mexico."

Uwe Schmidt, P.Geo., Vice-President Exploration, serves the board of directors of the company as an internal technically qualified person. Technical information in this news release has been reviewed by Mr. Schmidt and prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101.

Galore is a British Columbia based exploration company that has assembled a leading group of industry professionals to acquire and explore promising ore deposits with an emphasis in Mexico and British Columbia. Galore shares trade on the TSX Venture Exchange under the Symbol GRI.

To find out more about Galore Resources Inc. visit our website at


Ray D. Torresan, CEO

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