GOLDBELT RESOURCES LTD.
TSX : GLD

GOLDBELT RESOURCES LTD.

March 28, 2008 08:06 ET

Goldbelt Resources Ltd.: Additional Good Drill Results at Kari Nord Project, SW Burkina Faso

TORONTO, ONTARIO--(Marketwire - March 28, 2008) -

NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Goldbelt Resources Ltd. (TSX:GLD) is pleased to announce new results from a further 27 shallow reverse circulation ('RC') drill holes (KNRC027-054) completed on two zones at its 100% owned Kari Nord license in SW Burkina
Faso.

Highlights

- Gold intersections of 29m @ 4.15 g/t, 38m @ 2.40 g/t, 10m @ 6.06 g/t and 19m @ 2.34 g/t at Kari Nord

- Preliminary auger geochemistry shows potential strike extent of the more than 1200 metres for the Vindaloo trend

- Ground geophysics in progress and further drilling scheduled for late April on 7,000m of bedrock gold anomaly at Kari Nord

Significant new results from RC drilling of the Vindaloo Prospect at the Kari Nord license are summarized below (see also Table 1).

- 29m @ 4.15 g/t gold from 1m, 38m @ 2.40 g/t gold from 60m and 8m @ 1.50 g/t gold from 102m in hole KNRC035

- 10m @ 6.06 g/t gold from 15m, 5m @ 1.60 g/t gold from 31m and 24m @ 1.07 g/t gold from 76m in hole KNRC042

- 19m @ 2.34 g/t gold from 10m and 11m @ 1.08 g/t gold from 85m in hole KNRC053

- 10m @ 1.42 g/t gold from 24m in hole KNRC054

The Vindaloo gold prospect has been followed by Company RC drilling for 300 metres and is open on strike in both directions and at depth. Preliminary auger gold geochemistry clearly shows that the Vindaloo mineralization has the potential for more than 1200 metres of strike extent and the trend is still open. Auger geochemistry also highlights the presence of at least two parallel zones of gold mineralizaton, the Vindaloo Prospect and a second zone located 300 to 400 metres to the east.

Complete results for the ongoing auger geochemical survey and an IP geophysical survey over the 7,000m of known bedrock gold mineralization should be available before the end of April and will guide the second drilling campaign scheduled for the second quarter.

"These new drill results and the initial auger geochemistry continue to confirm the presence of a large connected gold system. We look forward to our next drilling campaign as a step towards evaluating the resource potential of this system" said Michael Gareau, a Director of Goldbelt and Executive Vice President of Exploration for Wega Mining ASA that holds a 93% interest in Goldbelt.

The information in this press release is based on exploration results compiled under the supervision of Michael Gareau, P. Geo. who is the Executive Vice President of Exploration for Wega Mining ASA and a Director of Goldbelt Resources Ltd. Mr. Gareau is the Qualified Person as defined by National Instrument 43-101 for this disclosure.

GOLDBELT RESOURCES LTD.

Per: Michael Gareau, Director

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Certain statements contained in this disclosure document constitute forward-looking statements which are not historical facts and are made pursuant to the "safe harbor" provisions under the United States Private Securities Litigation Reform Act of 1995. When used in this document, words like "anticipate", "believe", "estimate" and "expect" and similar expressions are intended to identify forward-looking statements.

Information concerning exploration results and mineral reserve and resource estimates may also be deemed to be forward-looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable at the time they are made, are inherently subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from logistical, technical or other factors; the possibility that results of work will not fulfill projections/expectations and realize the perceived potential of the Company's projects; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold reserves and resources; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of environmental issues at the Company's projects; the possibility of cost overruns or unanticipated expenses in work programs; the need to obtain permits and comply with environmental laws and regulations and other government requirements; fluctuations in the price of gold and other risks and uncertainties.

The United States Securities and Exchange Commission permits mining companies in their filings with the SEC to disclose only those mineral deposits that a company can economically and legally extract or produce. We may use certain terms in this disclosure document such as resources that are prescribed by Canadian regulatory policy and guidelines but are not provided for in the SEC guidelines on publications and filings.

Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management or its independent professional consultants on the date the statements are made. The reader is cautioned that actual results, performance or achievements may be materially different from those implied or expressed in such statements.



Table 1. Significant RC drill results from the Kari Nord license,
SW Burkina Faso

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Hole From To Down-hole Gold grade
Number (m) (m) Interval (m) (g/t)
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KNRC034(i) Vindaloo Prospect 0 2 2 7.88
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KNRC035(i) 1 30 29 4.15
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and 60 98 38 2.40
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and 102 110 8 1.50
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KNRC039 Adjacent structure 18 20 2 27.20
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KNRC040 Adjacent structure 16 20 4 1.90
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KNRC042 Vindaloo Prospect 15 25 10 6.06
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and 31 36 5 1.60
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and 76 100 24 1.07
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KNRC053 Vindaloo Prospect 10 29 19 2.34
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and 85 96 11 1.08
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KNRC054 Vindaloo Prospect 24 34 10 1.42
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(i) Denotes that mineralization occurred in the first or last metre of
drilling and therefore the mineralization may extend further than the
drilling indicates.


Notes accompanying drilling results

- All reported holes were drilled by reverse circulation technique and all are inclined at -60 degrees.

- Each sample is riffle split and a 2kg sample each 1 metre interval is collected at the drilling site and uniquely numbered

- All samples were prepared at the SGS Laboratory in Ouagadougou by drying and pulverizing to 90% passing 75µm.

- Gold analysis was conducted by SGS using industry standard fire assaying with an atomic absorption spectrometry (AAS) finish (a detection limit of 0.01 ppm Au quoted by SGS)

- Internationally recognized geo-reference standards and duplicate samples are inserted in sequence with all drilling samples at a frequency of 1 in every 20 to monitor the accuracy and precision of the procedure

- All results of geo-reference standards and duplicates are routinely monitored to be within acceptable limits for the type and method of analysis used

- The intercepts quoted are down-hole lengths and therefore might not represent the true widths of the mineralisation

- All reported intercepts are greater than 5 gramme-metres and are quoted using a 0.5 g/t gold lower cut-off, no upper cut-off and less than 4m of internal dilution (less than 0.5 g/t gold)

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

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