Goldbrook Ventures Inc.
TSX VENTURE : GBK

Goldbrook Ventures Inc.

April 29, 2009 11:04 ET

Goldbrook Receives Additional Funding for 2009 Exploration Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 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 it has received the second installment of funding which brings the total cash advances received to $8,900,000 for the 2009 exploration program, from Jilin Jien Nickel Industry Co., Ltd., Jilin, China. This year's exploration program will include over 15,000 metres of diamond drilling, in addition to airborne geophysical surveys, regional mapping programs and geochemical surveys. This program will follow-up on the highly successful 2008 program, which resulted in the discovery of extensive nickel sulphides within the Mystery zone.

The 2009 exploration program, which is planned to be in excess of $15 million dollars, will test new and positive results from completed geophysical, geochemical and geological surveys. Goldbrook plans to open the Belanger exploration camp about mid June and will mobilize at least three drill rigs to test new targets within the Mystery-Delta region. The company plans extensive new geological survey work and airborne ZTEM surveys over selected target areas.

The primary exploration focus will be to extend the limits of the new Mystery discovery and test additional new geophysical targets in the immediate Mystery area. The drill program will also test newly defined, strong coincident geophysical, geochemical and geological anomalies within the areas at Pillow Lake, Getty North, Getty West, Ben, Pad, Timtu, Bravo, the Cecilia and River Flats areas (east and west of Xstrata's Delta deposit), and other sites.

Goldbrook has expended considerable effort over the winter months working with geophysical consultants to review and analyze the company geophysical databases and also to compile and analyze geochemical and geological data for the property. The result of this work has been the identification of a significant number of new targets for drill testing within the Mystery-Delta region. This 2009 program will better define the Ni-Cu-Co-PGE sulphide potential within the company's extensive Raglan nickel belt property holdings.

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