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

Goldstrike Resources Ltd.

October 29, 2014 07:45 ET

Goldstrike to Proceed With Option on Its Flagship Plateau Property

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 29, 2014) - Goldstrike Resources Ltd. (TSX VENTURE:GSR)(PINKSHEETS:APRAF)(FRANKFURT:KCG1) reports that it has made application to the TSX Venture Exchange (the "Exchange") for consent to issue 487,013 shares to satisfy the $300,000 payment due by November 1, 2014 to maintain the Company's option (the "Option") on its flagship "Plateau" property.

Pursuant to an agreement (the "Option Agreement") made as of March 22, 2011, the Plateau Option may be exercised by the Company making cash payments, issuing shares and incurring exploration expenses on the "Plateau" property over a period of four years. The Company's original filing in respect of the Option Agreement was accepted by the TSX Venture Exchange during June, 2011. The Company has made all Option payments to date and has incurred all exploration expenses required to be incurred under the Option Agreement.

The Option Agreement requires the issuance of 750,000 shares and a $300,000 cash payment during November, 2013 to maintain the Option and provides that, subject to prior approval of the Exchange, the Company may issue shares in lieu of making the $300,000 cash payment. The Company desires to maintain the Option in good standing and, to conserve cash, has applied to the Exchange for approval to issue 487,013 shares at the deemed issue price of $0.616 per share. The deemed issue price is based on the Market Price of the Company's shares when the Option Agreement was announced on March 24, 2011.

ON BEHALF OF THE BOARD

Terrence E. King, President and Chief Executive Officer

For information on the Plateau project, please visit Goldstrike's website at GoldstrikeResources.com. For further information follow the Company's tweets at 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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