Georgia Ventures Inc.
TSX VENTURE : GVI

Georgia Ventures Inc.

March 29, 2006 16:00 ET

Georgia Ventures Inc.: Exploration Commences on the Towerstone Copper-Gold Project, Northwest China

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 29, 2006) - Georgia Ventures Inc. (TSX VENTURE:GVI) ("Georgia") is pleased to announce that exploration has commenced on its Towerstone Copper-Gold Project in Northwest China.

Exploration on the recently identified Towerstone porphyry target, located 15 km from Bogutu, will consist of detailed mapping, sampling, and ground geophysics, in preparation for an extensive drill program estimated to begin in early July.

The Towerstone porphyry target covers a 2.5 X 3.0 km area characterized by the presence of extensive quartz and quartz-magnetite stockworks. Copper occurrences have been located in various intrusive rocks. In addition high grade copper values (up to 4% Cu) have been found in skarns located 3 km northwest of the main stockwork zones.

A ground geophysical survey (IP, resistivity and magnetics) carried out over the main stockwork zone has identified a strong sub-circular chargeability anomaly with a diameter of 1.7 km. The chargeability anomaly coincides with an apparent resistivity low. Readings within the central core of the chargeability anomaly exceed 40mV/V. Resistivity readings associated with the apparent resistivity low are in the range of 20 to 150 ohms/m.

The interpretation of data gathered during the 2005 field season suggests that the present level of erosion of the Towerstone porphyry system coincides with the leached pyritic outer shell or cupola of a buried copper porphyry system. This interpretation is corroborated by the presence of copper occurrences throughout the area, and boxworks after copper minerals. The strong chargeability anomaly coinciding with areas of intense quartz stockworks points to the existence of metal concentrations at depth.

The Towerstone Copper-Gold Project is located in the Xinjiang Autonomous Region of Northwest China, and is readily accessed by a paved highway, which bisects the 500 sq. km property. The geologic environment of the Towerstone Copper-Gold Project area is conducive to the discovery of Porphyry-type and epithermal style deposits possibly of the Kumtor type. Georgia Ventures Inc. has the right to earn up to 85% interest in the Sino Foreign Joint Venture.

Preparations are also being made for a drill program on the Bogutu Gold prospect, expected to begin in early May.

The Bogutu prospect consists of six subparallel NW trending and SW dipping fault/deformation zones containing high sulphidation epithermal gold mineralization associated with pyrite, minor arsenopyrite and trace base metal sulphides.

The main mineralized zone, known as Zone 1, is more than one kilometre long and displays strong hydrothermal alteration over widths in excess of 100 m. It was discovered by the Chinese and subsequently tested by trenching, open cutting, two shallow adits and four diamond drill holes. Small tonnages of oxidized material from open cuts were processed in heap leach facilities. The best results from the Chinese work included:

- Drilling: 1.79 g/t Au over 78 m and 7.06 g/t Au over 13.27 m

- Adit Sampling: 3.34 g/t Au over 10.4 m

- Trenching: 3.1 g/t Au over 23.8 m

Recent rock sampling returned values of up to 94.6 g/t Au in character samples.

In addition, work along the main E-W fault, associated with Bogutu, encountered gold mineralization at different locations over a five km strike length. Assays from trench sampling included 2.35 g/t over 13.40 metres and 5.13 g/t over 2.50 metres.

Based on the observations gathered during the 2005 field season it appears that the Bogutu area has good potential for outlining both open pittable and underground epithermal gold deposits. In addition, gold occurrences along and near the main E-W fault may host orogenic gold deposits. Orogenic gold deposits in central Asia contain multi-million ounce reserves. Notable examples are Kumtor (8 million oz) in nearby Kyrgystan and Muruntau (140 million oz) in Uzbekistan.

Luca Riccio, PhD., P. Geo, a Qualified Person as defined by National Instrument 43-101, has reviewed the contents of this News Release and is responsible for program design and quality control of exploration undertaken by the Company in China.

On behalf of The Board

Jonathan W. George, President

This press release contains "forward looking statements" that involve a number of risks and uncertainties. There can be no assurance that such statements prove to be accurate and actual results and future events could differ materially from those anticipated from such statements.


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

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