Gold-Ore Resources Ltd.
TSX VENTURE : GOZ

Gold-Ore Resources Ltd.

November 12, 2008 09:30 ET

Gold-Ore Continues to Increase Gold Production at Bjorkdal

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 12, 2008) - Gold-Ore Resources Ltd. (TSX VENTURE:GOZ) is pleased to provide October operational highlights for the 100% owned Bjorkdal Gold Mine in Sweden. Gold production has increased dramatically during 2008 and reached an annualized rate of 34,992 ounces in October. Gold-Ore is focused on increasing cash flow and production from the mine and remains debt-free, unhedged and cash flow positive.

October, 2008 Gold Production

October gold production at the Bjorkdal Mine increased significantly from previous months. A total of 2,916 ounces was produced, which equates to an annualized production rate of 34,992 ounces. This increased productivity is directly related to increased grades and tonnages achieved from stopes and on-vein drives in the underground unit of the mine.



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October, 2008
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Tonnes processed 96,273
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Daily throughput - tonnes 3,106
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Gold recovered - ounces 2,916
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- kilograms 90.7
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Average plant recovery 88%
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To view attached graph please click on the following link: http://media3.marketwire.com/docs/GOZgraph.jpg

Gold production at Bjorkdal is achieved by processing material from three sources: underground, open pit and surface stockpiles. During September and October the underground unit produced at the average rate of 1,030 tonnes per day, the open pit at 857 tonnes per day and the stockpiles at the rate of 1,252 tonnes per day.

Operational Objectives

During the next few months the Company plans to evaluate or complete the following objectives:

- Complete test mining of stopes - currently three completed and three underway

- Complete on-going feasibility study utilizing stope mining results

- Declare commercial production

- Develop the Central Tunnel area where historic mining and diamond drilling demonstrate higher gold grades

- Evaluate development of decline to access a lower level (cost CDN$1.1 million, SEK$7.0 million) to provide sufficient plant feed from the underground unit for 2009

- Increase open pit production to decrease reliance on stockpiles

- Plant upgrade - install a second Knelson Concentrator in 2009 (ordered in Sept.) to improve gold recovery

About Gold-Ore

Gold-Ore Resources is a mineral exploration and development company focused in Sweden. In addition to the Bjorkdal Gold Mine, the Company also has other assets in the country; the Ronnberget Gold Property (adjacent to Bjorkdal), Norrliden Polymetallic Deposit and the Vallberget Polymetallic Property.

Bjorkdal property information is posted on the Company's web site at www.goldoreresources.com.

ON BEHALF OF THE BOARD

Robert Wasylyshyn, President

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

News Release 08-15

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

Contact Information

  • Gold-Ore Resources Ltd.
    Glen Dickson
    (604) 687-8884
    or
    Gold-Ore Resources Ltd.
    Bob Wasylyshyn
    (604) 687-8884
    or
    Gold-Ore Resources Ltd.
    Ron Ewing
    (604) 687-8884
    Website: www.goldoreresources.com