Goldrush Resources Ltd.

Goldrush Resources Ltd.

September 27, 2011 07:00 ET

Goldrush Announces Start of Fill-In and Expansion 8,890 Metre Fall Drilling Program and Advancement Plan for the Ronguen Gold Deposit, Burkina Faso, West Africa

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 27, 2011) - Goldrush Resources Ltd. (TSX VENTURE:GOD)(OTCQX:GDRRF)(PINK SHEETS:GDRRF) ("Goldrush" or the "Company") is pleased to announce an 8,890 metre autumn 2011 drilling program to enhance and expand the Company's Ronguen Gold Deposit that has a current inferred resource of 5.9 million tonnes at a grade of 1.31 grams of gold per tonne (g/t), containing 249,000 ounces of gold.

The current inferred gold resource at Ronguen was prepared by SRK Consulting (Canada) Inc. and published in May, 2008. Subsequent to the calculation of this estimate, the Company has completed 2,443 metres of core drilling in 14 holes; 7,661 metres of reverse circulation ("RC") drilling in 83 holes; and 315 metres of trenching in 3 trenches, along with approximately 7,300 metres of rotary air blast ("RAB") drilling in 183 holes on the deposit. Combining the results of this program and the new fall program will enable the calculation of a new resource estimate, and form the basis for an economic evaluation of the project.

The detailed objectives of the fall drilling program, which is contracted to begin on September 26, include:

  1. to advance the oxidized gold mineralization from the "inferred" to the "indicated" category;
  2. to expand the footprint of the deposit through exploratory drilling on the east, north and west margins of the deposit; and
  3. to follow-up on previous intersections of 2.14 g/t Au over 4 metres in RC hole KGRR011-135 and 7.72 g/t Au over 6 metres in RAB hole KGRB-007-151B, approximately 430 metres west of the currently defined western limit of the deposit.

Goldrush's geologists have developed an 8,890 metre drill program consisting of 1,725 metres of core drilling in 15 holes and 7,165 metres of RC drilling in 94 holes to accomplish objectives 1 and 2. The 8,890 metres is a portion of the total drilling of 10,000 metres of RC and 8,000 metres of core, from which objective 3 will be accomplished. In addition, selected targets on the Company's other high priority exploration permits will be drilled, including at least 1,000 metres of core drilling on the Company's Salbo permit where shallow RAB drilling conducted in early 2011 intersected 1.74 g/t Au over 8 metres in hole SLBB11-023 and 2.12 g/t Au over 6 metres in hole SLBB11-030. As the Salbo permit is located less than 40 kilometres south of Ronguen, the development of a gold resource at Salbo would potentially enhance the viability of an operation at Ronguen.

Commenting on the Ronguen drilling and development plan, Goldrush President and CEO Len Brownlie said, "Our experienced geological team is determined to move the Ronguen project towards a production decision. While Goldrush is first and foremost a gold exploration company, management is very motivated to leverage the current gold price and uniform nature of the oxide resource at Ronguen into a production scenario that could provide significant cash flow, and finance future exploration programs without the need for additional shareholder dilution."

The Company has entered into contracts with Forages Technic-Eau/Burkina Sarl and Projet Production International BF Sarl, respectively, to drill the 10,000 metres of RC and the 8,000 metres of core.

SRK Consulting has completed its preliminary fieldwork and will provide a resource update following completion of the autumn drill program at Ronguen. Mineralized samples of the deposit have been selected for preliminary metallurgical testing by bottle roll analysis. The Company has purchased a weather and environmental monitoring station to collect baseline environmental data, and discussions are underway with several consulting companies to provide an Environmental Scoping Study which will guide future detailed environmental and socio-economic studies.

The goal of this work is to examine the potential economic viability of a mining project at Ronguen that would be characterized by a conventional open pit mine providing near surface oxide gold mineralization delivered to an onsite processing facility that could involve conventional crushing and grinding and gravity concentration, deposition on heap leach pads and gold recovery on site. The Company plans to complete a Preliminary Feasibility Study prior to the end of Q2, 2012 and, if appropriate, proceed with a full feasibility study thereafter.

A geographic analogue of the proposed Ronguen production scenario is the Cluff Gold PLC Kalsaka Gold Mine, which is located approximately 40 kilometres west of Ronguen. Kalsaka is currently in production from an open pit mine and recovers the gold with heap leach treatment.

Quality Assurance/Quality Control

Goldrush maintains a rigorous quality control program involving the use of certified standards from an accredited Canadian laboratory, inserted blanks, and the use of repeat assays. Details of Goldrush's quality control program were provided in the Company's News Release #2010-13, dated October 25, 2010.

Mr. Driffield Cameron, P.Geo., Vice President, Exploration of Goldrush, is the Qualified Person for this press release for the purposes of National Instrument 43-101 and has reviewed the technical information herein.

About Goldrush: Goldrush is a Canadian mineral exploration company which has successfully focused on gold exploration in West Africa, where the Company has discovered, and is currently expanding and defining the 249,000 ounce (inferred resource of 5.9 million tonnes at a grade of 1.31 g/t Au) Ronguen gold deposit in Burkina Faso.

For further information on Goldrush Resources Ltd., shareholders and other interested parties are invited to visit the Company's website at



Len Brownlie – President and Chief Executive Officer

FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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