SOURCE: GLR Resources

August 21, 2007 08:30 ET

GLR Resources Inc.: Drilling Resumes on the Goldfields Project

KIRKLAND LAKE, ON--(Marketwire - August 21, 2007) - GLR Resources Inc. (GLR) (TSX: GRS) is pleased to announce that drilling has resumed on the Goldfields Project located in northern Saskatchewan. This particular program will consist of at least 5,000 metres of drilling of which most will be related to exploration around and below the present Box deposit area. Some "condemnation" drilling will also be carried out to ensure no zones of gold mineralization are located immediately beneath the proposed location areas for the mill buildings and waste rock piles.

GLR Resources recently made a request to the Saskatchewan Environment authorities to increase the size of the milling throughput from 2000 tpd to 5000 tpd. Saskatchewan Environment authorities noted that this would result in a few changes to the project in particular a larger surficial area for the waste rock pile. To accommodate this expanded waste dump, a further rare plant study has been undertaken in the area. In addition further ABA testing for potential acid mine drainage from the gangue stream was requested. These studies have now been completed with ABA tests showing no acid mine drainage problems. Rare plant study data and ABA test results will be submitted shortly for review and approval. This review and approval process will take some time and as such it is now not possible for Saskatchewan Environment to be able to issue the final environmental permit by the end of August as had initially been expected. It is now contemplated it will be at least November before GLR can expect the final permit.

The office and camp facilities in Uranium City are nearing completion and brush cutting of the power line to the Box deposit is on schedule for completion by the end of September.

In a Press Release dated July 30th, 2007, it was noted that GLR had received a revised term sheet from Investec Bank (UK) for US$40 million in project debt financing. Investec is now set to begin the formal due diligence review of the Goldfields Project feasibility study. Micon international from Toronto has been retained by Investec to assist in this endeavor. In addition, Investec Bank (UK) have indicated that as this due diligence review is proceeding, they should be in a position to advance some funds to GLR that can be used for down-payments on several key pieces of mill equipment. Ordering this equipment now will allow for delivery of it directly to site using winter ice roads in early 2008.

Commenting on the continued progress at Goldfields, Robert Kasner President and CEO noted "I am pleased to see drilling resume at Goldfields as there are several interesting areas to be tested and I believe the area has the potential to contain several more gold deposits and as mentioned in previous press releases, the Box and Athona deposits remain open at depth. I am also pleased with the progress being made by Investec Bank, and I look forward to the official completion of their due diligence review."

About GLR Resources

GLR is a Canadian-based junior mining and exploration company focusing on projects in North America and with existing projects in Ontario, Quebec and Saskatchewan. GLR's most advanced project is its Goldfields Project, located near Uranium City in northern Saskatchewan. The Goldfields project consists of two open-pitable Gold deposits -- The Box and The Athona -- containing a resource in excess of one million ounces Gold. GLR is focused on bringing the Goldfields project into production in late 2008. GLR trades on the TSX under the symbol GRS.

Forward-Looking Statements: This news release contains certain forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond GLR's ability to control or predict which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Although GLR believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these forward-looking statements.

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

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