Goldcliff Resource Corporation
TSX VENTURE : GCN

Goldcliff Resource Corporation

May 18, 2010 09:30 ET

Goldcliff Resource Corporation: New Gold Drill Discovery at Panorama Ridge

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 18, 2010) - George W. Sanders, President of Goldcliff Resource Corporation (TSX VENTURE:GCN), is pleased to report a new drill discovery of disseminated gold mineralization in the Thor zone on the Panorama Ridge gold property. The Thor showing is centrally located between the York-Viking and Nordic gold zones on a southwest to northeast trend of gold mineralization along the crest of Panorama Ridge. This drilling followed up Trench SP165 (excavated in 2007), which established surface gold mineralization over 69.80 metres grading 0.56 gold per tonne, including 1.01 grams per tonne gold over 31.50 metres. The recently received drill results are from 8 holes drilled during 2008 from the area of Trench SP165. The holes were drilled in a fan pattern from one set-up. Drill values range from 96.62 metres of 0.22 grams per tonne gold to 7.36 metres of 1.03 grams per tonne gold and include 1.36 metres of 6.35 grams per tonne gold. The Panorama Ridge Gold property is 100 per cent-owned by the Company and is located near Hedley, British Columbia, Canada.

These are the first holes drilled in the Thor zone, and they establish an important continuity of gold mineralization along the 1000 metres of trend from the Tower and York-Viking zones (in the southwest) to the Nordic zone (in the northeast). Much more drilling will be required in the Thor zone in order to better determine the geometry of the Gold Mineralized Zone (GMZ) in this area.

The Thor zone gold drilling results are summarized as follows:



Drill Hole Metres Total Metres Gold

Hole 28-144
Total Hole from 3.21 to 99.67 metres 96.46 0.15 g/t
GMZ from 3.21 to 33.77 metres 30.56 0.20 g/t
Including from 3.21 to 6.21 metres 3.00 1.17 g/t

Hole 28-145
Total Hole from 3.27 to 99.67 metres 96.40 0.19 g/t
GMZ from 3.27 to 83.51 metres 80.24 0.20 g/t
Including from 70.99 to 79.51 metres 8.52 0.72 g/t

Hole 28-146
Total Hole from 3.05 to 99.67 metres 96.62 0.22 g/t
GMZ from 3.05 to 99.67 metres 96.62 0.22 g/t
Including from 4.05 to 14.05 metres 10.00 0.51 g/t

Hole 28-147
Total Hole from 3.21 to 99.67 metres 96.46 0.21 g/t
GMZ from 3.21 to 99.67 metres 96.46 0.21 g/t
Including from 3.21 to 6.21 metres 3.00 1.19 g/t
And
including from 64.79 to 76.02 metres 11.23 0.60 g/t

Hole 28-148
Total Hole from 3.05 to 99.67 metres 96.62 0.18 g/t
GMZ from 3.05 to 61.73 metres 58.68 0.20 g/t
Including from 3.05 to 8.05 metres 5.00 1.06 g/t
And
including from 44.19 to 47.49 metres 3.30 0.74 g/t

Hole 28-149
Total Hole from 3.28 to 99.67 metres 96.39 0.16 g/t
GMZ from 3.28 to 56.71 metres 53.43 0.20 g/t
Including from 32.35 to 39.71 metres 7.36 1.03 g/t
And
including from 34.35 to 35.71 metres 1.36 6.35 g/t

Hole 28-150
Total Hole from 3.05 to 99.67 metres 96.62 0.09 g/t
GMZ from 3.05 to 56.71 metres 42.88 0.20 g/t

Hole 28-151
Total Hole from 3.05 to 99.67 metres 96.62 0.17 g/t
GMZ from 3.05 to 25.05 metres 22.00 0.20 g/t
Including from 3.05 to 6.05 metres 3.00 0.65 g/t


On the Panorama Ridge property, the gold mineralization continuity at surface and at depth is related to a disseminated gold envelop - referred to as the gold mineralized zone (GMZ) - that grades 0.20 grams gold per tonne or better. The GMZ defines the economic limits and potential for large disseminated gold deposits on the Panorama Ridge gold property

In 2000, Goldcliff staked the Panorama Ridge property based on gossan outcrops (iron rich rocks) that were exposed on new logging roads along the ridge. The ensuing exploration activities have discovered ten gold showings. Four of the showings - the York-Viking, Nordic, Thor and Tower - have developed into significant zones of gold mineralization. The gold mineralization occurs in a sedimentary-volcanic hosted rock sequence of the Upper Triassic Nicola Group, Hedley Formation. The gold values on the property occur over an extensive surface area and to considerable drill depths. The gold mineralization is mainly disseminated in nature and associated with silica-sulphide alteration (skarn). The higher grade gold horizons and quartz veins occur within the broadly disseminated gold envelope (GMZ). The disseminated gold envelope contains zones of gold mineralization that range from 0.20 grams per tonne gold to over one ounce gold per ton (34.286 grams per tonne).

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.

GOLDCLIFF RESOURCE CORPORATION

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, gcnnews20106

Contact Information