Goldcliff Resource Corporation

Goldcliff Resource Corporation

May 20, 2008 09:30 ET

Goldcliff Resource Corporation: High-Grade Gold Minerals Identified at Bonanza Trench

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 20, 2008) - Leonard W. Saleken, Chairman of Goldcliff Resource Corporation (TSX VENTURE:GCN) is pleased to announce that the high-grade gold minerals of the Bonanza Trench's 17.368 gold ounces per short ton sample have been identified by electron microprobe analysis. This finding is significant because it is the first time that these native gold minerals - specifically, hedleyite and joseite - have been identified on the Panorama Ridge property. Now that Goldcliff knows what specific minerals to look for, it can further focus its exploration for high-grade gold zones on the Company's 100%-owned Panorama Ridge property. Hedleyite is the signature high-grade gold mineral in the Hedley mining district.

The Bonanza Trench high-grade gold mineralization was identified in the high-grade gold hand sample from the trench and confirmed by electron microprobe analysis. The minerals are hedleyite and joseite (gold-bismuth-tellurium alloys), and native gold. These gold minerals are the high-grade gold contributors to the gold mines in the Hedley mining district, and are recognizable in the field with careful observation.

Bonanza Trench High-Grade Gold Minerals

The gold minerals in the Bonanza Trench samples are native gold, hedleyite and joseite. These three gold minerals resulted in a combined metallic assay of 17.368 ounces gold per short ton or 596 grams gold per tonne (previously reported). The native gold in the oversize fraction contributed 2.057 ounces gold per short ton and the undersize fraction of hedleyite and joseite contributed 15.311 ounces gold per short ton. The high-grade gold sample contained very anomalous bismuth and tellurium values along with 9.4 grams per tonne silver.

Hedleyite was first identified in 1945, at the Good Hope mine in Hedley, BC, by H.V. Warren and M.A. Peacock of the University of British Columbia. Hedleyite is the signature high-grade gold mineral that contributed to the ore deposits of the Good Hope, French and Nickel Plate mines that produced 2.5 million ounces of gold in the Hedley gold mining district.

Bonanza Trench Gold Mineralogical Analysis

The native gold and the gold-bismuth-tellurium alloys of hedleyite and joseite were identified by electron analysis. The minerals were identified by an electron microprobe (ARL SEMQ electron microprobe) and scanning electron microscope methods. The analysis was conducted by Cannon Microprode, Seattle, WA.

Bonanza Trench Importance and Conclusions

Hedleyite, joseite and native gold are the important contributors to the high-grade gold values in the Bonanza Trench on the Panorama Ridge property and other gold mines in the Hedley gold mining district.

The identification of native gold, hedleyite and joseite at the Bonanza Trench allows Goldcliff to focus its exploration for other high-grade gold areas on the Panorama Ridge property.

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.


Leonard W. Saleken, PGeo, Chairman, CEO, Director

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this news release, gcnnews2807.

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