SOURCE: Goldrich Mining Company

Goldrich Mining Company

December 10, 2010 17:19 ET

Goldrich Reports Block Purchase of Stock

SPOKANE, WA--(Marketwire - December 10, 2010) - Goldrich Mining Company (OTCBB: GRMC) ("Goldrich") reports that Northland Capital Markets, headquartered in Minneapolis, Minnesota, successfully organized a group of investors to make a block purchase of Goldrich shares held by a fund located in London. A total of approximately 6.4 million shares, representing approximately 13% of the issued and outstanding shares of Goldrich, were purchased at a price of $0.23 cents per share.

William Schara, CEO of Goldrich, notes, "According to reports with the SEC, over 900,000 shares of Goldrich were sold by the London fund from late May through November 2010. We believe the block purchase of shares will relieve downward market pressure on our stock. We also welcome our new investors and look forward to growing the company with them."

For additional information regarding Goldrich Mining Company or this news release, contact Mr. William Schara at telephone (509) 768-4468; e-mail wschara@goldrichmining.com.

Goldrich Mining Company is engaged in the business of the discovery and mining of gold deposits. This endeavor carries certain risks that are commensurate with the potential rewards of such efforts. These risks cannot be quantified and should not be taken lightly. 

Forward-Looking Statements

This press release contains "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Legislation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Goldrich Mining Company expects or anticipates will or may occur in the future, including such things as the Company's assumptions related to the block sale, belief that downward market pressure on the stock will be relieved and other such matters are forward-looking statements. Often, but not always, forward-looking statements state that certain actions, events or results "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks and uncertainties, which may cause Goldrich Mining Company's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things: the volatility of natural resource prices, including gold prices; product demand; market competition; the Company's ability to cure defaults under its forward gold sale contracts, the Company's ability to continue with corporate spending priorities; the Company's ability to secure additional financing; the existence and extent of gold deposits at the Chandalar property; the Company's ability to start and maintain commercial production at the Company's Chandalar property; and other risks inherent in the Company's operations discussed in the Company's latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q and other documents filed with the U.S. Securities and Exchange Commission. The Company makes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable laws or regulatory policies.

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