Goldbrook Ventures Inc.

Goldbrook Ventures Inc.

May 17, 2010 11:50 ET

Goldbrook's Raglan Winter Geophysics Program Underway

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 17, 2010) -


Goldbrook Ventures Inc. ("Goldbrook" or the "Company") (TSX VENTURE:GBK) is pleased to announce the commencement of a winter geophysics program at its McCart Lake camp in the western portion of the Raglan belt, Ungava, Quebec in order to carry out a planned winter geophysical program. Contractors, equipment and support personnel arrived at the McCart Lake camp site in early April, using ski-equipped aircraft, to carry out a program starting April 18th, of ground magnetic and EM surveying in preparation for an aggressive exploration and drilling program during the summer season.

About 1600 line-kilometres of continuous recording high resolution magnetometer surveys over various areas of interest are being completed by Clearview Geophysics Inc. These high resolution magnetometer surveys are conducted in "walking mode" in conjunction with GPS guided snowmobile towed mode. The magnetometer data provide the mapping information for the detection and delineation of ultramafic bodies which host Raglan-style mineralization.

Two crews, from Crone Geophysics and Exploration Ltd., are conducting up to 70 line-kilometres of moving loop electromagnetic surveys using a combination of SQUID and fluxgate sensors. These sensors are state-of-the-art instruments specifically designed to detect and discriminate the highly conductive nickel sulphides of the Raglan deposits. The moving loop model of surveying is labour intensive, but provides the highest resolution.

The 2010 exploration program, with a budget of over $17,500,000, includes a goal of 25,000 metres of diamond drilling in conjunction with an extensive program of prospecting, geochemical surveys, geological mapping and ground geophysics over both the east and west extensions of the productive north and south Raglan horizons. This is an aggressive expansion from the previous, and successful, exploration focus on the Belanger Trend into new, and high potential geological target areas. This program will follow-up on the positive results of geological, geophysical and remote sensing surveys completed in these areas over the last two years and which helped with discoveries of extensive nickel sulphides at the Mystery and Timtu zones. The work is expected to be successful in defining new sulphide nickel occurrences within the Company's extensive Raglan Nickel Belt property holdings.

About Goldbrook

Goldbrook Ventures is engaged in the exploration and development of Nickel-Copper-Platinum Group Element sulphide deposits – a class of mineral deposit that, due to its polymetallic nature, has the advantage of protection against individual metal price cycles and has strong long term supply-demand fundamentals. Goldbrook's quest for discovery is focused in the Raglan District of northern Quebec, a district that hosts Xstrata's Raglan operations, arguably one of the world's most profitable nickel-copper-PGE mines. Goldbrook is the District's single largest holder of mineral rights, with a 100% interest in 861,000 acres.

Goldbrook also owns 25% of the voting shares of Jien Canada Mining Ltd. (which successfully acquired Canadian Royalties Inc.), the owner of the nickel-copper-cobalt-platinum-palladium-gold deposits in the Raglan mining district which collectively form the Nunavik Nickel Project.


David Baker, Chairman and Director

Cautionary Note Regarding Forward-Looking Statements

Certain of the statements made herein may contain forward-looking statements or information within the meaning of Canadian securities laws and the applicable securities laws of the United States. Such forward looking statements or information include, but are not limited to, statements or information with respect to Goldbrook's plan for future exploration and development of its properties.

Forward-looking statements or information are based on a number of estimates and assumptions and are subject to a variety of risks and uncertainties, which could cause actual events or results to differ from those reflected in the forward-looking statements or information. Should one or more of these risks and uncertainties materialize, or should underlying estimates and assumptions prove incorrect, actual results may vary materially from those described in forward looking statements or information. Factors related to such risks and uncertainties, and underlying estimates and assumptions include, among others, the following: the ability of Goldbrook to advance development of its properties; price volatility of nickel and other metals; impact of any hedging activities, including margin limits and margin calls; discrepancies between actual and estimated production, between actual and estimated resources, and between actual and estimated metallurgical recoveries; mining operational risk; regulatory restrictions, including environmental regulatory restrictions and liability; risks of sovereign investment; speculative nature of mineral exploration; defective title to mineral claims or property, 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. Accordingly, undue reliance should not be placed on forward looking statements or information. We do not expect to update forward-looking statements or information continually as conditions change, except as may be required by law.

Neither 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 release.

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