SOURCE: GLR Resources

December 03, 2007 09:44 ET

GLR Updates Drilling Progress at Box Deposit

KIRKLAND LAKE, ON--(Marketwire - December 3, 2007) - GLR Resources (TSX: GRS) is pleased to provide the following drill progress report from the Company's Box Mine property located within the Goldfields project in Northern Saskatchewan. A total of 13 holes have been drilled to date.

A significant highlight of this drilling campaign is hole B07-294 which returned 6.316 g/t gold over 19 metres.

Holes BO7-286 to B07-291 were condemnation drill holes and were necessary to demonstrate that no significant mineralization is present at proposed locations for mill buildings and waste rock dumps. As expected, no economic assays were encountered on these holes.

Holes BO7-292 to B07-298 were completed into the Box Mine Granite formation (BMG) located below the proposed open pit location. Assay results are pending for holes BO7-295 to B07-298.

Results are presented below for holes BO7-292 to B07-294.

                                    True       True
Hole       From (m) To (m) Meters Width (m)  Width (ft)     Au (g/t)
           -------- ------ ------ --------- ---------- --------------------
B07-292         257    277     20      19.4      63.65                0.977

                                                        Including 7 meters
                                                        (23 ft) of 2.11
                                                        g/t Au
           -------- ------ ------ --------- ---------- --------------------
B07-293         246    283     37     32.56      106.8                0.510

                                                        Including 11 meters
                                                        (36.1 ft) of 0.729
                                                        g/t Au
           -------- ------ ------ --------- ---------- --------------------
B07-294       227.4  246.4     19     16.72       54.9            6.316 g/t

                                                        Including 10 meters
                                                         (32.8 ft) of 11.47
                                                         g/t Au
           -------- ------ ------ --------- ---------- --------------------

*All assays were cut to 60 g/t. Assaying is by the total metallic method to eliminate any loss of the coarse gold fraction during sample processing in the assay lab. All samples were assayed at TSL Laboratories Inc. of Saskatoon, an ISO/IEC 17025 Laboratory.


Holes B07-292 and B07-294 had several assays above the Box Mine Granite formation (BMG) of up to 3.71 g/t Au over 2 metres and up to 8.98 g/t Au over 1 metre respectively. However, much of the core was not assayed in these areas. This is presently being assayed and results will be reported as soon as received.

Additional drilling is in progress to trace the extension of the Box Mine Granite formation (BMG) to the southwest. Additional drilling of the Athona deposit is planned for the New Year. GLR has a budget of $2M for drilling in and around the Box and Athona gold deposits.

Commenting on this drilling, Bob Kasner, President and CEO, noted, "Hole B07-294 certainly is an encouraging hole and hopefully we will get more like this as we go deeper. This hole is 80 metres below the proposed pit which lends support to the premise that there is potential to increase the present Box deposit resource considerably. I am also pleased to see the increase in drilling progress at Goldfields."

Mr. John Cook, P.Eng. 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.

For further information please see the company website at www.glrresources.com.

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 early 2009. 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.

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.
    COO
    T:1.306.241.3403
    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

    Saskatoon Office:
    515-45th St. West,
    Saskatoon, Saskatchewan,
    S7L 5X5 (306) 657-4549