Goldrush Resources Ltd.
TSX VENTURE : GOD

Goldrush Resources Ltd.

October 20, 2006 09:30 ET

Goldrush Initiates Exploration Program on Falagountou IV Permit Near Promising Essakane Project in Burkina Faso, West Africa

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 20, 2006) - Goldrush Resources Ltd. (TSX VENTURE:GOD) ("Goldrush" or the "Company") is pleased to announce the initiation of a US$300,000 exploration program on the Falagountou IV permit which it acquired with the Falagountou III permit in August, 2006 (see Goldrush news release dated August 21, 2006).

Location

The Falagountou III and IV permits are located in northeastern Burkina Faso on the Burkina Faso-Niger border and lie adjacent to and between the Essakane Gold Project of Gold Fields Limited and Orezone Resources Inc. ("Orezone") on the Burkina Faso side of the border and Orezone's Kossa Permit in Niger. (see permit location map at www.goldrushresources.ca). Orezone and Goldfields Limited have defined a 1.9 million ounce gold resource on the Essakane project (Source: www.orezone.com).

Prior Exploration on the Falagountou IV Permit Goldrush is now in possession of a compilation report on the work conducted by Sante Fe Mining Inc. on the Falagountou IV permit.during the mid 1990's. Management feels that shareholders should be informed of the results of previous work completed on the permit, although this work was conducted before the implementation of National Instrument 43-101 and may not meet the disclosure requirements of NI-43-101. From 1995 to 1997, Santa Fe Mining Inc. conducted gridding, geological mapping, rock sampling and extensive soil geochemistry,followed up by soil pit geochemistry, trenching and reverse circulation ("RC") drilling on auriferous showings. The Sofokel-North showing emerged as the main target. When Sante Fe Mining Inc. merged with another gold producer in 1998, it abandoned all permits in Burkina Faso.

The Sofokel-North showing lies in the southeastern portion of the Falagountou IV permit and has a northsouth orientation with an estimated strike length of over 1,000 metres . Three 100-metre long trenches were excavated over a strike length of 200 metres but assay results from the trenches are not available. Twenty-six RC drill holes, totaling 2,163 metres over thirteen 100-metre spaced sections were drilled in the Sofokel-North showing. (Three of these holes drilled on a secondary gold-in-soil anomaly offset from the principal trend produced low values). The best reported intersections over the principal gold-in-soil anomaly were:


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Sample
From To Interval Gold Grade
Line Number Hole Number (meters) (meters) (meters) (g/t)
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L100N DSN-001 19.5 24.0 4.5 1.06(i)
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L100N DSN-001 34.5 36.0 1.5 0.65
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L100N DSN-001 39.0 43.5 4.5 0.64(i)
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L300N DSN-002 76.5 79.5 3.0 1.30
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L300N DSN-003 4.5 6.0 1.5 1.49
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L300N DSN-003 13.5 46.5 33.0 2.06(i)
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L500N DSN-004 13.5 15.0 1.5 0.55
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L500N DSN-004 19.5 28.5 9.0 0.53(i)
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L500N DSN-004 61.5 63.0 1.5 0.55
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L500N DSN-005 12.0 13.5 1.5 1.32(i)
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L500N DSN-005 18.0 19.5 1.5 0.79(i)
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L800N DSN-008 10.5 12.0 1.5 2.39(i)
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L800N DSN-008 19.5 21.0 1.5 0.64(i)
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L800N DSN-008 25.5 27.0 1.5 0.89(i)
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L800N DSN-008 40.5 42.0 1.5 0.77
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L800N DSN-008 55.5 61.5 6.0 1.81(i)
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L800N DSN-009 10.5 12.0 1.5 2.02(i)
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L800N DSN-009 18.0 19.5 1.5 0.62(i)
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L200N DSN-010 12.0 15.0 3.0 0.85(i)
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L200N DSN-010 22.5 25.5 3.0 3.02(i)
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L200N DSN-010 30.0 33.0 3.0 0.63(i)
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L200N DSN-010 42.0 43.5 1.5 0.64
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L400N DSN-011 18.0 33.0 15.0 1.37(i)
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L400N DSN-011 42.0 46.5 4.5 0.47(i)
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L400N DSN-011 75.0 76.5 1.5 0.58
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L600N DSN-013 22.5 25.5 3.0 0.64(i)
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L800N DSN-014 49.5 51.0 1.5 0.63
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L800N DSN-014 75.0 78.0 3.0 1.80
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L900N DSN-015 39.0 40.5 1.5 0.76
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L900N DSN-015 43.5 45.0 1.5 1.22
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L900N DSN-015 48.0 49.5 1.5 0.81(i)
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L700N DSN-018 39.0 45.0 6.0 0.62(i)
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L700N DSN-018 60.0 61.5 1.5 0.52
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L700N DSN-018 67.5 69.0 1.5 1.30
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L700N DSN-018 78.0 79.5 1.5 0.50(i)
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L700N DSN-019 36.0 39.0 3.0 0.58(i)
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L700N DSN-019 54.0 55.5 1.5 0.51(i)
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L700N DSN-019 58.5 60.0 1.5 6.78(i)
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L700N DSN-019 64.5 67.5 3.0 1.56(i)
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L700N DSN-019 78.0 82.5 4.5 0.68(i)
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L1000N DSN-020 33.0 34.5 1.5 0.75
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L1000N DSN-020 40.5 42.0 1.5 0.74(i)
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L1100N DSN-022 43.5 45.0 1.5 1.27
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L1200N DSN-023 46.5 48.0 1.5 1.02(i)
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(i) Visible gold reported in pan


There is insufficient information to determine if the reported hole length intervals represent true widths and readers are cautioned that the above information has not been independently verified by Goldrush. A drill hole location map is available at www.goldrushresources.ca.

Two of the Santa Fe Mining Inc. trenches (one of which had collapsed) and three RC drill hole collar markers were located during reconnaissance exploration by the Company's geological staff at Sofokel- North. Eighteen rock samples taken from the open trench provided seven samples which assayed greater than 0.5 g/t gold, and a six metre section averaging 10.58 g/t gold, including a 1-metre interval grading 47.9 g/t gold.

Exploration Program

A 30-person mobile camp has been recently established on the Falagountou IV permit and work is underway to re-establish the Santa Fe grid in preparation for 1:5000 scale mapping and 100m x 50m soil sampling over the Sofokel North showing. A 400 metre diamond drilling program is scheduled to begin the week of October 22, 2006. This program is designed to confirm and extend the significant Sante Fe drill results. With positive results, the Company will return in Q1 2007 to cover the previously untested southern part of the Sofokel North showing with induced polarization geophysical surveying and initiate aggressive RC drilling with the objective to delineate the gold mineralization at Sofokel North and to test other targets on the Falagountou IV permit. Goldrush will commence exploration work on the Falagountou III permit in November.

Quality Assurance and Quality Control

Most surface rock samples are composite grab samples, broken from bedrock with a rock hammer to provide a final weight of 2-3 kilograms, and taken within a five meter radius. One blank sample, similar in size and appearance to regular samples, and one standard are included in each batch of 20 samples sent to the Abilab laboratory in Bamako, Mali. At Abilab, rock samples are coarsely crushed, and up to 1 kilogram is pulverized to a minimum of 95% passing -200 mesh (with tests on granulometry). Assays are conducted on a 50 grams sub-sample by fire assay with atomic absorption finish. Internal laboratory QAQC includes insertion of blanks and standards and repeat assaying, which is in part random and in part targeted on higher grade results. Most samples grading greater than 5 g/t gold are also checked with another pulp split by fire assay with a gravimetric finish.

Dr. Jean-Francois Couture P.Geo, Principal Geologist with SRK, is the Qualified Person for the purpose of National Instrument 43-101. Dr. Couture reviewed the technical information contained in this news release.

ON BEHALF OF THE BOARD OF DIRECTORS, GOLDRUSH RESOURCES LTD.

Len Brownlie - President

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 forwardlooking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forwardlooking statements.

To view the map accompanying this release please click on the following link: http://www.goldrushresources.ca/images/08_sofokel_rc.gif

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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