God's Lake Resources Inc.
CNSX : GLR

God's Lake Resources Inc.

February 22, 2012 09:00 ET

God's Lake Announces Results of Preliminary Property Investigation and Discovery of A New Vein System With Assays Up to 79.87g/t

TORONTO, ONTARIO--(Marketwire - Feb. 22, 2012) - God's Lake Resources Inc. (CNSX:GLR) ("the Company") is pleased to announce results of the 2011 field season on the Sherman Lake Gold Project located approximately 400 kms north of Red Lake Ontario. The purpose of work carried out was to verify previous operators results and locating gold showings, old trenches and diamond drill holes utilizing GPS for control (note: This is the first time GPS was used on this claim group). A limited Soil-Gas-Hydrocarbon survey was carried out to test the viability of the survey method also utilizing GPS for control including old grid lines from 1988 which were easily followed.

All work was confined to the 16 leased claims.

The initial discovery of gold mineralization, vein #1, is located approximately 1 km south of the Sachigo River Mine Site which was sunk on vein #2. Vein #1 is hosted by sheared diorite with numerous parallel zones of silicification and sulphide mineralization. The vein itself averages 1.0m in width, with 2-5% pyrite and chalcopyrite and has been traced on surface by numerous old pits, trenches and diamond drill holes for a distance of 150m. Drilling in 1988 by INCO, intersected numerous low grade sections which assayed 1-2g/t over 1-2m widths along with higher grade sections as follows:

Hole#78713: 4.9g/t across1.38m from 70.27 -75.12m
Hole#78714: 4.0g/t across 2.2m from 81.27 - 83.94m, and
3.5g/t across 1.35m from 113.2 - 114.55m
Ref: MNDMF Assessment files

GLR located all Inco drill collars and cleaned out 3 old trenches for the purpose of sampling and bedrock determination. The quartz vein has an apparent vertical dip, striking 350 degrees az, and is well mineralized with 3% chalcopyrite and 2% pyrite and returned assays ranging from 3.40 g/t to 11.49g/t. Wall rock is schistose with 1% pyrite and returned assays from 0.72g/t to 1.25 g/t. All samples taken from vein#1 were grab samples. Plotting of the previous Inco drilling indicates a plunge component to the vein system which was never followed up. The 1988 INCO drill program was the last drilling the property has seen.

Vein # 2 is the location of the Sachigo River Mine which was discovered in 1936 while performing assessment drilling north of Vein #1. The discovery hole assayed 28 oz/ton across 2 feet (960g/t across 0.61m) and led to the eventual production of 52,560 ounces of gold from 46,457 tons at the average grade of 1.13 oz/ton (38.74 g/t). The mine operated from 1938 to the end of 1942 when the necessary high grade ore was exhausted above the 500-foot level and all equipment was removed from the site and sold off. During the mine's operation, it was deemed to have the highest grade in North America (Ref: B.G. Edward, Canadian Mining Journal 1944).

GLR prospected and mapped around the old mine site locating old drill holes, buildings, sampling core dumps and determining local lithologies. Also in 1988, Inco completed 2 holes in the vicinity of the old workings with the first being drilled 375m west of the mine workings returning the following:

Hole#78707: 7.73g/t across 1.06m from 50.06 - 51.12 hosted by a quartz-feldspar porphyry cut by a quartz stock work. This hole also contained 5.49 g/t across 0.5m from 100.00 to 100.50m.

Hole#78708: Drilled to far north and failed to hit any gold mineralization.

Ref: MNDMF Assessment Files

Prospecting around INCO Hole#78707, approximately 100m west and 100m south, a new vein was discovered by GLR geologists which was initially exposed as a small knob the size of a baseball cap. Hand stripping of this vein with picks and shovels uncovered a rusty, fractured quartz vein 2.4m wide containing numerous bluish-black streaks and traced for a distance of 10m heading into swamp on either sides of the outcrop. Sulfides were contained by the dark streaks and consisted of galena, chalcopyrite, sphalerite and pyrite with an average content of 10%. Grab samples of the rusty-white quartz returned assays from trace to 0.068g/t. The dark vein material was grab sampled and returned 79.87g/t in a composite sample.

Sampling of old core dumps did not yield any significant values. Plotting of old mine workings indicates a potential plunge to the west. Inco drilling and the newly discovered vein provides evidence to this theory which will be followed up and tested in the near future.

All assays were performed by Cattarello Assayers Inc., of Timmins Ontario. Samples were crushed, split and pulverized where a one-assay-tonne portion was removed and fire assayed with an atomic absorption finish.

GLR also contracted a Soil-Gas-Hydrocarbon Survey to cover the existing 1988 grid within the leased claim boundaries. A total of 683 samples were collected and analyzed, with interpretation, by Activation Laboratories. The survey was successful in locating 5 "drill ready" targets located at interpreted depths between 200 and 300m southeast of the mine workings. Also a deep VMS (Volcanogenic Massive Sulfide) target was located 300m south of the mine workings. This target is interpreted at a depth of 500m. The survey was also successful in defining a major N-S fault or shear structure approximately 700m west of the mine workings.

Warren Hawkins, P.Eng, a "Qualified Person", within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release. Mr. Hawkins is not considered to be "independent" of the Corporation (as defined in National Instrument 43-101), as he currently holds securities of the Corporation.

God's Lake Resources is a junior gold exploration company and is publicly traded on the Canadian National Stock Exchange under the symbol GLR.

Forward-Looking Statements

This press release may contain forward-looking statements, which are subject to risks and uncertainties and other factors that may cause the Company's results to differ materially from expectations. When reviewing the Company's forward-looking statements, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. These include risk relating to market fluctuations, investee performance, strength of the North American and European economy, foreign exchange fluctuations and other risks not yet known to the Company. These forward-looking statements speak only as of the date hereof. Unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update these forward-looking statements. The Company does have an ongoing obligation to disclose material information as it become available. The discussion also includes cautionary statements about these matters. You should read the cautionary statements made as being applicable to all forward-looking statements wherever they appear in this document.

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