Gossan Resources Limited

Gossan Resources Limited

March 04, 2005 02:32 ET

Gossan Acquires Additional Ground on Bird River Sill


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: GOSSAN RESOURCES LIMITED

TSX VENTURE SYMBOL: GSS
FRANKFURT SYMBOL: GSR

MARCH 4, 2005 - 02:32 ET

Gossan Acquires Additional Ground on Bird River Sill

WINNIPEG, MANITOBA--(CCNMatthews - March 4, 2005) - Gossan Resources
Limited (TSX VENTURE:GSS)(Frankfurt/Freiverkehr:GSR) has again added
additional ground to its land package on the nickel-PGM-prospective Bird
River Sill based on new developments in the area. At Mustang Minerals
Corp.'s nearby Maskwa Pit, which was last mined in the mid-1970's, a
recent analysis of 14 samples of pyrrhotite-rich "waste rock" assayed on
average 6.65 % Nickel, 0.09% Copper, 4.0gpt Palladium, and 1.6gpt
Platinum (Manitoba Geological Survey, November 19, 2004).

Gossan has now expanded its Bird River Sill Property to 6,778 hectares
(16,748 acres) by staking an additional 1,123 hectares, primarily on the
south side of the Sill. The property covers over 21 kilometres of the
Bird River Sill Complex and it is comprised of the Western (Ward's)
Extension and 4 separate faulted blocks of the Sill - the National
Ledin, the Chrome and its Extension, the Peterson and the Page Blocks.

Locally, about 500 to 600 meters thick, the Bird River Sill is a
differentiated gabbroic complex, which trends east-west, dips steeply to
the south and is subdivided into a basal ultramafic, a transitional and
an upper mafic series. This complex carries important concentrations of
palladium and platinum along with nickel, copper, zinc and chromite. The
property is located about 40 km east of Lac Du Bonnet, Manitoba and,
along the Sill, approximately 6 km west and northwest of Mustang
Minerals' Maskwa Deposit.

Additional information is provided in Gossan News Release 04-13 dated
December 9, 2004, and an extract of the Manitoba Geological Survey
presentation is available at www.gossan.ca/mgs.pdf.

In 2004, work on the property included magnetic and HLEM surveys and an
extensive geochemical orientation survey (bark and twigs) on the Page
Block and a portion of the Peterson. Both of the geophysical and
geochemical surveys identified anomalies, that should lead to viable new
drill targets. Ryan Cooke, P.Geo., is the Qualified Person supervising
this project.

The management of Gossan Resources will be presenting the Company at the
Investors' Exchange - Booth 2222 - at the PDAC Convention being held
next week, from March 6th to 9th, at the Metro Toronto Convention Centre.

Gossan Resources Limited is engaged in mineral exploration in Manitoba
and northwestern Ontario. It has a well-diversified portfolio of
properties hosting gold, platinum group and base metals, as well as the
specialty metals, tantalum, chromium, titanium and vanadium. The Company
also has a large deposit of magnesium-rich dolomite and a silica sand
prospect. Gossan trades on the TSX Venture and the Frankfurt/Freiverkehr
& Xetra Exchanges and has 17,418,124 shares outstanding (21,043,124
shares fully diluted).

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Gossan Resources Limited
    Douglas Reeson
    Chairman & CEO
    (416) 533-9664 or Toll Free: (800) 462-4283
    (204) 942-3434 (FAX)
    E-mail: info@gossan.ca
    Website: www.gossan.ca
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this news release.