Gold Standard Ventures Corp.
TSX VENTURE : GV
OTCQX : GDVXF

Gold Standard Ventures Corp.

December 21, 2010 14:35 ET

Gold Standard Ventures Corp.: Update on Drilling Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 21, 2010) - Gold Standard Ventures Corp. ("Gold Standard") (TSX VENTURE:GV)(OTCQX:GDVXF) www.goldstandardv.com is pleased to report the Company's exploration progress on our Railroad project located on the Carlin Trend, Nevada.

The Phase I, 2010 Railroad drilling program has been completed with a total of 16 holes drilled for a total of 5,587 meters. Of these 16 holes, Hole RR10-16 is a not yet completed re-drill of RR10-14 which was lost. Also, holes RR10-5 and RR10-15 will be completed by core in 2011. Complete assays are currently pending on RR10-8. Most of the holes drilled in 2010 focused on the Bullion fault zone target, formerly referred to as the North Corridor target zone. As a result of 2010 drilling, this target zone has substantially increased in lateral extent both to the north and the east beneath post mineralization rock units. The target zone remains entirely open to the north, east, and also to the south. Thick intervals, up to 270 feet, of low levels of gold have been encountered (RR10-11). The primary hosts for almost all the mineralization encountered in our drilling are the Mississippian Webb mudstone and the underlying Devils Gate limestone units. In hole RR10-11, almost all of the Webb Formation appears to have been faulted out and the bulk of the mineralization occurs within dolomitized Devils Gate limestone. Hole RR10-12 intersected 25.9m (85ft) of 2.74g/t (0.077 oz/st) at 100.6 meters within the POD deposit. The POD deposit is believed to be genetically connected to a very recently identified and untested potential feeder structure, referred to as the Railroad Fault zone located a few hundred feet to the north. Similar to the productive Rain fault zone in the Rain district to the north, the Railroad fault zone is west-northwest trending with down-faulting on the north flank and also has anomalous gold and arsenic in several rock and soil samples. This target zone will be drilled as early as possible in 2011.

SUMMARY OF 2010 DRILL RESULTS TO DATE:

Drill hole (type) Td(m) From(m) To(m) Interval(m) Gold(g/t) Length(ft) Gold(oz/st)
               
RR10-1 (RC) 524 4.6 24.4 19.8 0.34 65 ft 0.01
RR10-2C (Core) 440 No significant intercepts greater than 10 feet thick
RR10-3
(RC & Core)
472 76.2 82.3 6.1 0.505 20 0.015
  And   86.9 93.0 6.1 0.355 20 0.01
  And   272.8 277.4 4.6 0.515 15 0.015
RR10-4 (Core) 453 232.9 239.3 6.4 0.654 21 0.019
RR10-5
(RC & Core)
189 To be completed with core in 2011
RR10-6 (RC) 457 120.4 131 10.7 0.546 35 ft 0.016
  And   268.2 309.4 41.2 0.886 135 ft 0.026
RR10-7 (RC) 457 No significant assays
Drill hole (type) Td(m) From(m) To(m) Interval(m) Gold(g/t) Length(ft) Gold(oz/st)
RR10-8
(RC & Core)
442 Completed with core, assays pending
RR10-9 (RC) 476 350.5 379.5 29.0 0.475 95 0.014
RR10-10 (RC) 451 No significant assays
RR10-11 (RC) 457 132.6 173.7 10.7 1.01 35 0.029
  And   309.4 391.7 82.3 0.413 270 0.012
RR10-12 (Core) 190 100.6 126.5 25.9 2.74 85 0.077
    With an internal gap of 8ft or 2.2m of lost core
  And   140.2 146.3 6.1 0.422 20 0.012
    155.5 162.0 8.6 0.400 21.5 0.012
RR10-13 (RC) 536 22.9 42.7 19.8 0.332 65 0.01
RR10-14 (RC)   Hole lost at 268m as a result of severe caving; site re-drilled by hole RR10-16
RR10-15 (RC) 415 Hole not completed, will be finished with core in 2011
RR10-16
(RC & Core)
  Hole drilled to 900 ft (274 m) with RC, to be completed by core in 2011

All drill hole assays are weighted averages. Gold assays were completed by ALS Minerals, ALS Canada Ltd using 30 gram charge, fire assay, with ICP final. Q&A includes inclusion of blanks, duplicates, and check standards into submitted sample batches and comparison with known results, with sample preparation in Elko, and assayed in Reno and/or Vancouver.

Target development continues elsewhere on our Railroad project. An additional 1,268 stations were added to existing 1,168 stations to comprise a total of 2,436 gravity readings over the 21 square mile land position. Most of these stations were obtained in the western and southern portions of the property position in order to help define target opportunities on recently acquired properties and where previous surface geochemistry suggested target potential. In addition to the gravity an additional 1,433 soil samples were obtained from specific potential areas of target opportunity. All these data will be integrated into the existing database for the purpose of target synthesis. A total of six large target areas have been identified within the Railroad property position. To date, only the Bullion fault zone target has received substantial drill-hole assessment.

"Visual rock characteristics of variably to strongly altered collapse breccias bodies with thick intervals of low levels of gold mineralization that were encountered in several of our drill holes indicate that we are dealing with the very prospective, potentially high-grade Carlin Trend type collapse-breccia model. The large step-outs of our drill holes and open-ended target zones beneath post-mineral cover further indicate the hydrothermal system is considerably larger than previously believed. Severe structural complexity and encountering significant mineralization under post mineral rock units in previous undrilled areas are both encouraging and daunting with regard to targeting and locating the high-grade, economic portions of these gold-bearing collapse breccias bodies. We believe we will zero in on these high-grade Bullion fault zone target opportunities from the information provided from all the RC and core holes drilled in 2010 combined with an aggressive drill program in 2011," quotes Vice President of Exploration Dave Mathewson.

The Company's Vice President of Exploration, David C. Mathewson, M.Sc., a non-independent Qualified Person, as defined by NI 43-101, Standards of Disclosure for Mineral Properties, has verified the technical information and evaluated interpretations contained in this news release.

ABOUT GOLD STANDARD VENTURES – Gold Standard Ventures is focused on the acquisition and exploration of gold projects in North Central Nevada. Gold Standard currently holds a portfolio of projects totaling approximately 26,000 acres of prospective ground within North Central Nevada of which 15,349 acres comprise the flagship Railroad Gold Project.

On behalf of the Board of Directors of Gold Standard,

Jonathan Awde, President and Director

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information