Glass Earth Gold Limited

Glass Earth Gold Limited

May 12, 2011 08:00 ET

Glass Earth Gold Announces Significant High Grade Gold Results From 'WKP-West', Waihi, New Zealand

DDH WKP 27 intersected 1.4 m @ 30.7 g/t Au and 77.7 g/t Ag within 152.4m @ 1.16 g/t Au and 2.22 g/t Ag.

WELLINGTON, NEW ZEALAND--(Marketwire - May 12, 2011) -Glass Earth Gold Limited (TSX VENTURE:GEL)(NZAX:GEL) ("Glass Earth") reports completion of a further two drill holes on the WKP West gold – silver project near Waihi, New Zealand. Results from the first hole (WKP27) are tabled below with the results from diamond drill hole ("DDH") WKP 28 pending. Drill testing is planned on other targets during the course of 2011 as influenced by successive results (the WKP Gold-Silver Prospect is a joint venture with Newmont Mining - Newmont 65%, Glass Earth 35%).

DDH WKP 27, a two hundred metre step-out southwest confirms the previous significant intersections of gold mineralisation consistently greater than 150m, with narrow high-grade zones in the one ounce to two ounce gold range (see 25th August 2010 news release).

Simon Henderson, President and CEO commented that "The success of the 2010 drilling results on holes WKP 24, 25 and 26 demanded further drilling examination. Both Newmont and Glass Earth have been very keen to press forward with additional drilling and we are confident that this exploration phase will provide further substantial insight into the characteristics of WKP West and the overall WKP prospect."

The newest programme of diamond drill holes of approximately 400m - 500m length tested the southerly extensions of the WKP West mineralised zone.

Hole NoFromToInterval mGold g/tSilver g/t
WPK 27129281.4152.4@1.162.2

An adjacent area of interest identified through recent ground based CSAMT resistivity surveying is also targeted.

Location and History

The WKP prospect is a 2 km mineralised alteration zone, just 10 km from Newmont's currently active Waihi gold operations and 5 km northeast of the Golden Cross deposit (634,000 oz gold production in the 1990's). The WKP epithermal system has magnetic/alteration characteristics similar to the Waihi area and has open-along-strike potential for several kilometres south-westward. The WKP West zone currently outlines an area approximately 180 m wide with a strike continuity of over 600 m.

2010 Drilling Results were:
WKP 24 intersected:
Hole NoFromToInterval mGold g/tSilver g/t
WPK 24125.9282156.1@1.62.6
207.7209.31.6@30.244*within following interval
WKP 25 collared from the same drill pad intersected:
Hole NoFromToInterval mGold g/tSilver g/t
WKP 2522123615@9.312.8
Hole NoFromToInterval mGold g/tSilver g/t
WPK 26115293178@1.053.0

The remainder of the WKP 26 hole contained many narrow (<150 mm) quartz veins. The entire zone from just above the quartz vein at 115 m to the end of the hole at 552.1 m averaged 436.1 m @ 0.50 g/t Au, 1.8 g/t Ag.

About Glass Earth Gold Limited

Glass Earth is one of the largest New Zealand-based gold exploration companies exploring a land position of approximately 10,800 square kilometres in the North and South Islands.

In the NorthIsland, exploration efforts are focused on large epithermal gold systems in the Hauraki/Central Volcanic Region. This Region is host to the 10 million ounce Waihi Gold Mine, (Newmont Mining).

Hauraki Region – Glass Earth occupies a significant ground position around the Newmont's currently active Waihi gold operations; The Newmont-Glass Earth Waihi West JV (Newmont earning 65%) and Hauraki JV (North and Central Areas - 65/35) are currently being explored and managed by Newmont.

Central Volcanic Region – Glass Earth has defined several significant epithermal gold targets in this region including the Muirs Reef project (Mamaku district).

In the South Island, exploration efforts are focused on the Otago Region for mesothermal "Macraes-style" gold targets and alluvial gold.

Otago Region – The drilling of highly ranked Serpentine and Game Hen gold targets has commenced.

Two alluvial mining operations continue into the 2011 year, coupled with an acceleration of alluvial exploration and resource definition; Glass Earth / Dunstan Mining (placer mining 50/50 partner) plan to treble gold output in 2011.

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To view the map associated with this press release, please visit the following link:

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor New Zealand Exchange Limited has reviewed this release and neither accepts responsibility for the adequacy or accuracy of this release.

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