Goldbrook Ventures Inc.
TSX VENTURE : GBK

Goldbrook Ventures Inc.

June 29, 2009 12:38 ET

Goldbrook Announces Start of Raglan Drilling Program, 2009

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 29, 2009) -

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

Goldbrook Ventures Inc. ("Goldbrook") (TSX VENTURE:GBK) is pleased to announce that crews have mobilized to the company's Belanger base camp in the western portion of its Raglan belt, Ungava, Quebec properties, as of June 13th. Senior geological staff and camp management personnel are on site and the first drill hole of a 15,000 metre program commenced on the Far East anomaly in the Delta region, on Sunday, June 28th.

Goldbrook is also pleased to announce that it has received a third advance on funding for the 2009 exploration program from its partner Jilin Jien Nickel Industry Co., Ltd., of Jilin, China. This advance of $4,500,000 brings the funding received to a total of $13,400,000 towards the planned $15,000,000 exploration budget for 2009.

This year's exploration program includes in excess of 15,000 metres of drilling; more than sixteen high priority targets have been selected for drill testing, most of which are new showings with geological and geophysical characteristics similar to previous discoveries at the company's Mystery, Getty and Sylvie zones. In addition, there will be an extensive program of geological mapping and geochemistry to improve the company's knowledge of the setting and characteristics of the ultramafic rocks in the property area. Goldbrook also plans over 9000 line-kilometres of new VTEM surveys in three separate blocks within the northwest, northeast and southeast portions of their extensive tenure holdings. By previous company experience VTEM surveys have proven to be highly valuable and a key element to identifying new target zones for Raglan-style Ni-Cu-PGE sulphide mineralization.

Brian Grant, P.Geo. (President & COO), Jamie Pardy P.Geo. (Goldbrook's Exploration Manager), and Ginette Carter, P.Geo. a consulting geologist to Goldbrook, are the designated Qualified Persons for Goldbrook Venture's Raglan Project. These individuals will supervise the drilling program, geological surveys and ensure quality control/assurance programs for the Raglan project during 2009.

ON BEHALF OF THE BOARD:

Brian Grant, PGeo., President and COO

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

This press release contains "forward-looking information" that is based on Goldbrook's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Goldbrook's mineral discoveries, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Goldbrook's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related to drilling results; the ability to raise sufficient capital to fund exploration; changes in economic conditions or financial markets; changes in prices for Goldbrook's mineral products or increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters.

This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Goldbrook disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the content of this press release.

Contact Information

  • Goldbrook Ventures Inc.
    Brian Grant, PGeo.
    President and COO
    (604) 683-8083 or Toll Free: 1-888-488-9884
    (604) 683-8087 (FAX)
    www.goldbrookventures.com