Goldcliff Resource Corporation

Goldcliff Resource Corporation

August 30, 2011 11:36 ET

Goldcliff Commences Silver Exploration at Ainsworth

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 30, 2011) - George W. Sanders, President of Goldcliff Resource Corporation (TSX VENTURE:GCN), reports that the Company has begun field exploration on the Ainsworth Silver property. This work will follow-up very strong geochemical anomalies at the Bjerk-1 target, with silver values of 5.2 grams per tonne, and strongly elevated responses in gold, cadmium, copper, molybdenum, lead and zinc. Goldcliff's 100-per cent owned Ainsworth Silver property is located in the Ainsworth-Kalso silver camp, Kootenay mining district, Slocan Mining Division, British Columbia, Canada. The property consists of a contiguous claim block containing 10,280 hectares.

Previous exploration on the claims has identified six large target areas that contain 14 coincidental geological, geochemical and multi-sensor airborne geophysical anomalies. Two of the anomalies are associated with the Bjerk-1 and Big-C targets. The Bjerk-1 target is located within the Bjerkness Target area which is in the northern end of the claim block and the Big-C target is located within the Lendrum Target area which is central to the claim block. The remaining 12 anomalies require future exploration to advance to targets.

The Bjerk-1 exploration target occurs on a ridge between Fletcher and Bjerkness Creeks and is a northerly trending airborne geophysical feature some 1,200 metres in length and 600 metres in width. The moderate to strong individual EM conductors strike north to north-northwest and vary in length from 200 to 500 metres. The conductors are interpreted to be structures and are accompanied by a circular magnetic-high response interpreted to be a Cretaceous Fry Creek Intrusion. The Bjerk-1 is underlain by Triassic Slocan Group rocks of argillite and limestone in juxtaposition with the Permian Kaslo Group greenstone.

Very strong silver values occur at the intersection of a strong conductive structure and the north east Bjerk fault. Soil samples within the anomaly contain up to 5.2 grams silver and range from 1.0 to 4.9 grams per tonne silver. The coincidental metals also have very strong responses in cadmium (0.51 to 26.61 ppm), copper (12.0 to 91.5 ppm), molybdenum (0.73 to 61.03 ppm), lead (12.0 to 91.5 ppm) and zinc (12.0 to 91.5 ppm). The Bjerk-1 silver anomaly represents a multi-element silver mineralizing system associated with structures. The Bjerk-1 target is located in a similar geological and structural silver deposit setting as the mines at the Slocan-Sandon camp.

The Big-C target (previously reported, October 07, 2010) occurs on a ridge between Lendrum and Woodbury Creeks and is a north trending airborne geophysical feature some 700 metres in length and 500 metres in width. The moderate to strong cluster of individual EM conductors strike north-northwest, and vary in length from 50 to 500 metres. The conductors parallel a major regional fault and are interpreted to be mineralizing structures. A strong silver anomaly and its pathfinders coincide with the structural trends. The Big-C is underlain by Mississippian to Lower Permian Milford Group limestone and is in contact with the Permian Kaslo Group greenstone.

The Big-C target is located approximately four kilometres north of the historic No.1 Mine in similar geology. The No.1 Mine was the largest silver producer in the camp with production of 1,993,818 ounces of silver at a grade of 49.64 ounces per ton (1,707.78 grams/tonne). The Big-C target has been permitted for trenching and drilling.

Pursuant to the terms of its stock option plan, the Company has granted incentive stock options to directors, officers and consultants to acquire 5,581,170 common shares of Goldcliff at a price of $0.10 per share, effective August 30, 2011.

Leonard W. Saleken, PGeo (geologist) is the qualified person as defined by National Instrument 43-101 who supervised the preparation and verification of the technical information in this release.


George W. Sanders, President, Director

Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or the accuracy of this news release, gcnnews201104

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