SOURCE: GLR Resources

August 15, 2007 09:59 ET

GLR Resources: New Gold Zone Discovered

KIRKLAND LAKE, ON--(Marketwire - August 15, 2007) - GLR Resources (TSX: GRS) (FRANKFURT: GKF) Company has completed its first phase of diamond drilling on the Goldie Property consisting of 2,332 meters in 17 drill holes resulting in the discovery of a new, non-outcropping gold zone which appears to extend to the west of the current drilling. The 3,760 acre Goldie Property is located on the Trans-Canada Highway approximately 30 miles west of Thunder Bay, Ontario and is a joint-venture with RJK Exploration (TSX-V: RJX.A).

The widely spaced preliminary drilling was initiated to test several of the extensive Phase IP geophysical trends, including numerous local surface showings, on the property. The drilling program has resulted in a new auriferous horizon being discovered containing gold values of up to 3.01 g/t over 5.0 meters (16.4 feet) in a silicified, carbonated and brecciated zone that is distinctly hematized and sericitized and contains 2-8% pyrite, quartz, quartz-carbonate, and tourmaline veining with minor arsenopyrite.

For a listing of the drill holes, locations, assay intervals and results, click on the link below or paste the link into your browser:

http://www.usetdas.com/maps/glrresources/GLSDrillTableAug15-07.pdf

Diamond drill core has been sawn, with half the core being stored at the MNDM core storage facilities, Conmee Township and the other half sent to Accurassay and ALS Chemex Laboratories of Thunder Bay, Ontario and Polymet Inc., Laboratories of Cobalt, Ontario.

Mr. J. Gary Clark, P.Geo., is the qualified person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101.

Robert Kasner, GLR President and CEO, noted that "...this preliminary drill program has been extremely successful in that several targets on the property have been tested and that a new gold bearing structure has been discovered. We are encouraged with the discovery of this new, non-outcropping zone and in particular by the relatively few, widely spaced and shallow drill holes in this zone that contain strongly anomalous, gold contents over substantial near true widths. We are also encouraged with the possibility of hundreds of meters of untested on-strike extension (based on IP data) as well as the depth potential remaining to be tested on this zone. Gold values over good widths appear to increase towards the west along this horizon."

GLR Resources and RJK Exploration will be planning additional drill testing as soon as possible.

For further information please see the company website at www.glrresources.com to view a map showing the drill hole locations and geophysical trends for the Goldie Property.

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.

Contact Information

  • Contact Information

    Robert Kasner
    President & CEO
    T: 1.705.567.5351
    E: Email Contact

    Malcolm Bucholtz
    V.P. Investor Relations
    T: 1.306.525.0852
    E: Email Contact

    John Orr, P.Eng.
    C.O.O.
    T: 1.416.987.7188
    E: Email Contact

    GLR RESOURCES INC.

    P.O.Box 546, 4 Al Wende Avenue
    Kirkland Lake, Ontario P2N 3J5
    Tel: (705) 567-5351
    Fax: (705) 567-5557
    e-mail: Email Contact

    Saskatoon Office:
    515-45th St. West
    Saskatoon, Saskatchewan S7L 5X5
    (306) 652-0582