Goldstrike Resources Ltd.

Goldstrike Resources Ltd.
Petro One Energy Corp.

Petro One Energy Corp.

August 18, 2011 09:15 ET

Goldstrike Discovers Coffee Creek Style Gold Mineralization

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 18, 2011) - Goldstrike Resources Ltd. (TSX VENTURE:GSR)(PINK SHEETS:ADRAF)(FRANKFURT:KCG1) and Petro One Energy Corp. (TSX VENTURE:POP)(PINK SHEETS:CUDBF)(FRANKFURT:C6K1) are pleased to report that rock samples of angular, silicified schist taken from surface felsenmeer on the Lucky Strike property in the White Gold District have returned values as high as 3.06 g/t Au to date. With less than 5 per cent outcrop on the property this is considered to be a very encouraging result. A total of 101 reconnaissance soil samples collected to date over a large area of the property have returned values ranging from 15 to 256 ppb Au. They outline a 7 km long northwest structure that has been confirmed by geophysics and prospecting, as well as a series of cross-cutting northeast structures that are also evident on the geophysics. Because soil geochemistry is commonly masked by felsenmeer, volcanic ash and permafrost, deep auger drilling was employed and was successful in identifying new gold anomalies and enhancing existing gold anomalies that are more representative of the unglaciated bedrock. Active placer claims are located less than 1 km from the property boundary.

The Lucky Strike property is flanked by the Kinross Golden Saddle property and claims staked by Shawn Ryan. The Lucky Strike property occurs in the same package of rocks as Kaminak's high profile Coffee Creek gold discovery, and based on the results of the Phase I program it is now showing many of the same initial indicators as Coffee Creek, including similar geology, geophysics, structure, gold geochemical values and alteration. Goldstrike has already mobilized a Phase II program on the Lucky Strike property to include mapping and mechanized trenching in preparation for diamond drilling.

First pass exploration on all of Goldstrike's 24 Yukon gold projects is almost complete, and all significant results will be released as they become available. Based on positive results, a second phase of exploration consisting of mapping and trenching in preparation for drilling is planned to commence on these properties in the immediate future, and this is to be completed by the end of October. Goldstrike has a diamond drill and crew in Dawson that are ready to test all targets generated. Results will be released as they become available.

On the KZ-STRIKE property (contiguous with Rockhaven's Klaza discovery in the Mt. Nansen Gold Camp), reconnaissance soil samples returned anomalous values up to 405.5 ppb and 116.5 ppb Au, further confirming the presence of gold on the property, in addition to the historic 500 ppb Au value 50 previously reported. Further study and compilation is ongoing to lay out a Phase II program for the KZ-STRIKE property.

Goldstrike has completed the first pass exploration programs on most of its 24 Yukon gold properties to date, and expects to report a steady flow of news as significant results become available.

As previously reported, Petro One has a 30% carried interest in the Lucky Strike property, as well as being a large shareholder in Goldstrike Resources.

"We are very encouraged by these preliminary results that confirm the potential of the Lucky Strike property to host one or more significant gold discoveries similar to Coffee Creek", said Petro One's President Peter Bryant. "As a significant shareholder in Goldstrike Resources, Petro One will have exposure to 22 highly prospective properties in addition to the BRC and Lucky Strike properties optioned to Goldstrike by Petro One, for a total of 24 properties that cover all of the most active gold camps in the Yukon at this time, and are expected to add significant shareholder value. We look forward to receiving the exploration results with much anticipation."

The technical data in this news release has been reviewed and approved by Trevor J. Bremner, P. Geo., who is a qualified person as defined in National Instrument 43-101. For more detailed information on these properties, refer to Goldstrike's web site at


"Reimar Koch"
Goldstrike Resources Ltd.
"Peter Bryant"
Petro One Energy Corp.

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.

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