Goldrush Resources Ltd.
TSX VENTURE : GOD
OTC PINK : GDRRF

Goldrush Resources Ltd.

February 01, 2012 11:15 ET

Goldrush Encounters Gold Mineralization in RAB Drilling Program on Pompoi Permit, Contiguous With Roxgold's Yaramoko Project in Burkina Faso

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 1, 2012) - Goldrush Resources Ltd. (TSX VENTURE:GOD)(OTCQX:GDRRF) ("Goldrush" or the "Company") is pleased to announce the results of a shallow Rotary Air Blast ("RAB") drilling program on the Company's Pompoi permit which is contiguous with and to the east of Roxgold Inc.'s ("Roxgold") Yaramoko permit. The program included 5,433 metres of RAB drilling in 197 shallow holes along two fences oriented to traverse an interpreted east-west gold anomaly located in the southwest quadrant of the Pompoi permit. This anomalous area is 2.9 kilometres east of Roxgold's recent Bagassi Central "55 Zone" high grade gold discovery.

Drill fence #1 was drilled across the southwest corner of the Pompoi permit in a southeast-northwest direction over a linear distance of 2.08 kilometres. Coverage and testing of the saprolite on this line was approximately 85% with short gaps of from 10 to 55 linear metres and totalling 295 linear metres, occurring where the RAB drill encountered thick laterite gravel and/or the water table. Assays of the drill samples revealed the presence of four, two metre thick mineralized intersections that varied from 0.47 to 7.40 g/t Au. Three of these intersections occurred in laterite gravels and may have been transported an undetermined distance from a bedrock source.

Hole PPRB11-110, the most westernmost hole on drill fence #1, was collared approximately 45 metres from the commonYaramoko-Pompoi property boundary. The intersection of 0.47 g/t Au over 2 metres at a vertical depth of 27 metres in hole PPRB11-110 occurred in quartz veining in granitic saprolite, which is very similar to the host rock setting at the Bagassi Central discovery. The intersection in hole -110 is open in all directions and the orientation of the mineralization is unknown at this time.

Drill fence #2 was drilled over a linear distance of 1.54 kilometres across the southwest corner of the Pompoi permit, subparallel to and approximately one kilometre northeast of drill fence 1. Coverage and testing of the saprolite was limited to approximately 25% with gaps varying from 30 to 760 linear metres and totalling 1180 linear metres, due to the presence of thick laterite gravels, a shallow water table and the dwellings of a native village. As a result, the program did not conclusively test the soil anomaly along this line and an alternative drilling method (air core or RC drilling) may be required in this area.

Hole PPRB11-176 on drill fence #2 intersected 2.3 g/t Au over 2 metres at a vertical depth of 10 metres, this intersection also occurring in granitic saprolite, which is similar to the host rock setting at the Bagassi Central discovery. The intersection in hole -176 is open in all directions and the orientation of the mineralization is unknown at this time.

Commenting on the results of this initial drilling program Len Brownlie, President and CEO of Goldrush, noted: "The initial RAB program on the southwest quadrant of the Pompoi permit has been successful in demonstrating the presence of gold mineralization in a similar setting to that encountered by Roxgold at Bagassi Central. Roxgold's nearby success, combined with data from regional aeromagnetics and the results of our soil geochemistry and RAB drilling have confirmed that the Pompoi permit contains highly prospective targets that will require near term follow up. Coupled with our recent drilling success at our Ronguen gold deposit and our pipeline of 10 other exploration projects in Burkina Faso, we look forward to a very active and successful 2012 exploration campaign."

Assay Results

Significant intersections are noted above and in the following table:

- Total Gold Vertical
Azimuth Inclination Depth From To Interval2 Grade Depth1
HOLE ID X-WGS84 Y-WGS84 Line (degrees) (degrees) (m) (m) (m) (m) (g/ Au/t) (m) Lithology
PPRB11-067 472730 1297617 1 330 -50 30 2 4 2 7.4 2.3 laterite
PPRB11-095 472510 1298014 1 330 -50 23 8 10 2 0.52 6.9 laterite
PPRB11-110 472409 1298198 1 330 -50 39 34 36 2 0.47 26.8 saprolite
PPRB11-162 473792 1298619 1 330 -50 18 10 12 2 0.58 8.4 laterite
PPRB11-176 473379 1299051 2 330 -50 21 12 14 2 2.30 10.0 saprolite

1 "Vertical depth" is the calculated depth to the centre of the intersection.
2 True widths are undetermined at this time.

A total of 5,433 metres was drilled in the 197 RAB holes, which were continuously sampled at two metre intervals for assaying. This drilling program marks the second phase of exploration on a portion of the Pompoi permit in conjunction with the recent high grade drilling results by Roxgold on its Yaramoko permit.

This southwest Pompoi gold-in-soil anomaly was defined by reconnaissance scale (400 by 200 metre) soil sampling that partly defined an anomaly of >13 ppb gold which contained eleven anomalous gold values, with individual high values up to 504 ppb gold (See Goldrush news release dated September 7, 2011 for full details). The anomaly has been traced over a north-south distance of 1,600 metres and westerly for 1,400 metres to the common boundary of Pompoi and Roxgold's Yaramoko permit, where it is continuing.

An excerpt from a July 2010 Technical Report on the Yaramoko Permit provided on the Roxgold website, describes the mineralization on the Yaramoko permit as a series of subparallel quartz veins hosted in northwest trending shears. A granodioritic to tonalitic body has intruded the volcanic country rocks, and the resulting veins and shears related to this event cut both the volcanics and the intrusive on its eastern flank. Artisanal workings generally line up along this south southeast trending shearing, with these activities being conducted at a high angle to the shear. An interpretation of this description suggests that the mineralized structures may trend easterly onto the Pompoi permit, although readers are cautioned that there is no data to confirm that mineralization on the Yaramoko permit extends onto the Pompoi permit.

According to Roxgold's news releases dated October 4 and 19, 2011, diamond drilling on the "55 Zone", Bagassi Central area, 2.9 kilometres from Goldrush's Pompoi permit western boundary, produced gold intersections of 53.56 g/t Au over 8 metres in hole YRM-11-DDH-021, 47.41 g/t Au over 8.5 metres in hole YRM-11-DDH-018, and 37.68 g/t Au over 16 metres in hole YMR-11-DDH-024. Deeper holes drilled on the eastern edge of the 55 Zone encountered 31.90 g/t Au over 5 metres in hole YRM-11-DDH-032 and 48.46 g/t Au over 2 metres in hole YRM-11-DDH-034. Roxgold's interpretation of the drilling results has the series of gold-bearing structures from north to south occasionally overlapping along strike in an east to west direction, and perhaps plunging to the east towards the Goldrush permit.

Goldrush's widely spaced sampling has also documented eight separate anomalies, each of which is composed of two contiguous samples that could represent elevated bedrock gold mineralization with strike lengths of up to 800 metres. Also, a single soil sample assaying 903 ppb gold was found adjacent to the Pompoi-Yaramoko permit boundary, approximately 700 metres north of Goldrush's southwest gold-in-soil anomaly.

In addition to the potential extensions of the easterly trending structures containing the Bagassi Central gold mineralization on the Yaramoko permit, an interpretation of the regional airborne magnetometer survey which covers the Pompoi permit suggests the occurrence of a structural regime of northeasterly trending faults and/or shear zones and folding (in the northern parts of the permit) similar to that seen at Semafo Inc.'s Mana Mine.

Also, Goldrush has identified in the northern part of the soil sampled area a northerly oriented gold anomaly that spans a north-south distance of 2,000 metres and an east-west distance of 1,400 metres, with the most westerly portion approximately two kilometres east of the common Pompoi-Yaramoko permit boundary. This anomaly is slated for drill testing in a future program.

Location maps showing Goldrush's soil sampling results, regional geophysics and proximity to the Yaramoko/Bagassi Central drilling area are available at www.goldrushresources.ca.

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 #13 - 2010, dated October 25, 2010.

The SGS laboratory in Ouagadougou, Burkina Faso was used for sample analysis. Samples are assayed using standard fire assay techniques on a 50 gram charge with an atomic absorption finish. For its internal control, SGS inserted one certified standard and one blank, and analyzed one random duplicate for approximately each 20 samples submitted. For its certified standard and blank samples included in the QA-QC procedure, Goldrush averaged 4.2% of the total samples submitted.

The RAB drilling was contracted to Forages Technic-Eau/Burkina sarl based in Ouagadougou, Burkina Faso.

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 tones 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 www.goldrushresources.ca.

ON BEHALF OF THE BOARD OF DIRECTORS,

GOLDRUSH RESOURCES LTD.

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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