Goldstrike Resources Ltd.
TSX VENTURE : GSR
PINKSHEETS : APRAF
FRANKFURT : KCG1

Goldstrike Resources Ltd.

February 11, 2015 07:45 ET

Goldstrike $1,000,000 Private Placement Fully Subscribed

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 11, 2015) - Goldstrike Resources Ltd. (TSX VENTURE:GSR)(PINKSHEETS:APRAF)(FRANKFURT:KCG1) is pleased to report that its $1,000,000 private placement announced on January 9, 2015 has been significantly oversubscribed, with strong institutional / Pro Group support, and that the Company's filing in respect of the financing has been conditionally accepted by the TSX Venture Exchange.

Management considers the interest in this financing in a challenging market to be a strong testament to the merits of the Company's flagship Plateau project, a newly discovered, district-scale gold system in Yukon, which contains multiple gold discoveries within an area measuring more than 25 kilometres in length.

This original discovery, known as the "Yellow Giant Trend", was made by Goldstrike in less than 11 weeks of cumulative field exploration. There is no record of any previous exploration on the property. Gold mineralization at Plateau is widespread in hydrothermal breccias, veins and stockworks, and disseminated in very strongly silicified and altered bedrock. To date, Goldstrike has identified three principal zones of mineralization - the Goldstack Zone, the VG Zone (Gold Dome) and the Goldbank Zone. The potential for similar, additional discoveries in as yet untested areas of the trend is considered by the Company's geological team to be high.

The discovery hole drilled in the Goldstack Zone intersected near-surface gold mineralization grading 4.05 grams per tonne (gpt) gold over 28 metres, including 10.91 gpt gold over 10 metres. The Goldstack Zone remains open along strike and to depth.

The discovery hole drilled in the VG Zone (Gold Dome), near the east end of the Yellow Giant Trend, intersected near-surface gold mineralization grading 7.6 gpt over 9.03 metres, including 14.58 gpt gold over 4.0 metres. The VG Zone remains open along strike and to depth. A high resolution, three dimensional induced polarization (IP) survey conducted in 2014 confirmed multiple strong targets underlying Gold Dome that remain to be drilled. These IP targets have a similar signature to the high grade gold intersection in the VG Zone discovery hole.

The 11 kilometre long Goldbank Zone is located between the VG (Gold Dome) and Goldstack Zones, all of which are within the 25 kilometre Yellow Giant Trend. Goldbank contains multiple areas of high grade gold mineralization on surface, with rock grab samples from bedrock having returned up to 308.49 gpt (9.0 ounces per tonne), that remain to be drilled.

On completion of the private placement financing, Goldstrike will be well funded to continue exploring this new district-scale gold system. The 2015 program includes plans to follow up on the Goldstack Zone discovery hole with additional drilling to trace the extent of high grade mineralization to depth and along strike. The 2015 program is also planned to include drilling to follow up on the VG Zone discovery hole and to test the IP targets underlying Gold Dome generated from the 2014 survey. Finally, Goldstrike is planning to carry out an IP survey and subsequent drilling at the Goldbank Zone, where high-grade grab samples were identified in 2014.

Based on the widespread distribution of high grade gold within such a broad area, and the highly-encouraging results from preliminary drilling, Goldstrike directors Dr. Lawrence Dick, Ph.D., P.Geo., and Trevor Bremner, P.Geo., consider the project to represent a significant discovery with exciting upside potential.

The proposed private placement remains subject to final acceptance by the Exchange. The Company proposes to pay finder's fees in cash and warrants in respect of a portion of the financing in accordance with the policies of the Exchange. All shares issued pursuant to the offering, and any shares issued pursuant to the exercise of warrants or finders' warrants will be subject to a four-month hold period from the closing date.

Trevor J. Bremner, P. Geo., Chief Geologist and Goldstrike Board Member, is a qualified person, as defined by National Instrument 43-101, for Goldstrike's Yukon exploration projects and supervised the preparation of, and has reviewed and approved, the technical information in this release.

ON BEHALF OF THE BOARD

Terrence E. King, President and Chief Executive Officer

For sections and maps on the Plateau property, please visit Goldstrike's website at www.GoldstrikeResources.com. For further information follow the Company's tweets at www.twitter.com/GoldstrikeRes.

Neither 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 release.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward- looking statements address future events and conditions, and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements.

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