Golden Touch Resources Corp.
TSX VENTURE : GOT
FRANKFURT : 0GT

July 18, 2011 13:02 ET

Golden Touch Extends Gold Mineralisation

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 18, 2011) - Golden Touch Resources Corp. ("Golden Touch" or the "Company") (TSX VENTURE:GOT)(FRANKFURT:0GT) is pleased to announce that assay results have outlined further gold mineralisation within holes recently drilled at the Gjazuj Area within the Company's Rubik Gold Project in Albania.

Golden Touch is undertaking a drilling program at Gjazuj, in order to determine the extent of gold mineralisation originally discovered by drilling in the 1980's and more recently confirmed by the Company in surface trench sampling.

Twelve drill holes have now been completed at Gjazuj to their total planned depth. The assay results from the first three holes were released on May 17th 2011. The assay results of the next five holes have been received, four of which intersected significant gold mineralisation as reported below. A further four holes have been drilled and the core is currently being logged and samples prepared prior to being despatched for assaying.

The following significant gold bearing intervals were intersected:

Hole GJZ 1008: 17 metres at 3.0 g/t (grams/tonne) Au (gold) over the down hole interval from 47-64 metres.

Hole GZJ 1010: 25 metres at 1.0 g/t Au over the interval from 40-65 metres.

Hole GZJ 1011: 30 metres at 1.3 g/t Au over the interval from 24-54 metres.

Hole GZJ 1012: 30 metres at 1.7 g/t Au over the interval from 39-69 metres.

The above holes were drilled to the south east of Hole GZJ 1005, the results of which were announced in May. Hole GZJ 1005 intersected 37 metres at 1.67 g/t Au over the interval from 63 to 100 metres.

The collar of each of the five holes mentioned above is shown on the plan (Fig 1) below. Each of the holes reported were drilled at a steep angle and the position of the gold mineralisation intersected (or gold bearing envelope) as projected vertically to the surface is shown on Fig 1.

The position of the gold mineralisation envelope is also shown on a down hole section (Fig 2) below. The section shows the top of the envelope is at fairly constant elevations ASL. However, the results of hole GZJ 1008 suggests some variation in thickness can be expected.

Fig 1 and Fig 2 suggest that the drilling results obtained thus far, have traced the gold mineralisation envelope over a strike distance of at least 100 metres. Further holes are planned along strike to ultimately define the limits of the gold mineralisation and hence the resources available.

Previous drilling suggested that the mineralisation may extend over a strike length of 1300 metres. Gold in soils geochemical anomalies suggest that gold bearing soils extend over a strike length of up to 6 km.

The gold envelope is bounded by two separate higher grade auriferous zones, one situated at the top of the gold bearing envelope and one at the base of the envelope.

TABLE 1: HIGHER GRADE INTERVALS WITHIN THE GOLD MINERALISATION ENVELOPE.
Drill hole Down hole
interval
(metres)
Down hole
Intersection
(metres)
Gold Grade
grams/tonne
gold (g/t Au)
GZJ 1005 63-71 9 5.1
90-94 4 3.2
GZJ 1008 47-54 7 4.0
60-64 4 5.5
GZJ 1010 40-42 2 8.0
62-65 3 2.2
GZJ 1011 24-30 6 7.0
49-54 5 0.8
GZJ 1012 39-47 8 2.3
55-69 14 1.5

To determine the optimal gold recovery techniques, Golden Touch has engaged ALS AMMTEC of Perth Australia to undertake initial mineralogical and metallurgical sighter tests on the laboratory residues and reject material from the mineralised interval of hole GZJ 1005. This test work is in progress and the results are expected to be available shortly.

Further background information on the gold project can be obtained from a National Instrument 43-101 ("NI 43-101") compliant technical report on the Livadheza Gold Project (EC 1124) prepared by Ian Mathison, Bsc (Hons Geol), MAusIMM, as posted under the Company's profile on SEDAR at www.sedar.com.

Robert Murdoch, President of Golden Touch, a Fellow of the Australian Institute of Geoscientists and hence a qualified person under the meaning of Canadian National Instrument 43-101, is responsible for the technical content of this news release.

On Behalf of the Board of Directors Golden Touch Resources Corp.

Rob Murdoch , Chairman and President

To view the maps accompanying this release please click on the following link: http://media3.marketwire.com/docs/0718got.pdf

Neither the 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 news release.

Contact Information