Gossan Resources Limited

Gossan Resources Limited

May 14, 2008 12:46 ET

Sonic Drill Program Improves Recovery at Gossan's Manigotagan Silica Property

WINNIPEG, MANITOBA--(Marketwire - May 14, 2008) - Gossan Resources Limited (TSX VENTURE:GSS)(FRANKFURT/FREIVERKEHR:GSR) has a sonic drill program underway at its Manigotagan Silica Property. The initial 15 holes will test the eastern border of the Property towards an open pit where the silica sand formation outcrops near surface. An additional 10 holes may be drilled to extend the known area of the silica formation to the south, as well as, possibly investigating the southern portion of the Property. Boart Longyear is the drill contractor. The 297-hectare Property, located on the east shore of Lake Winnipeg, is directly across from Black Island where silica sand was extensively quarried prior to the island becoming a Provincial Park.

Douglas Reeson, CEO of Gossan, stated, "Sample recovery from previous drilling has been an issue at Manigotogan as various drill methods have not proven to be effective. This initial program of sonic drilling has yielded perfect 10-foot core sections with excellent recovery. The quality of the sampling will have important economic implications for the Property."

In December of 2006, a drill program consisting of 23 holes was conducted at the Manigotagan Silica Property. The drill program was successful in outlining the edge of two zones of silica sand with a thickness exceeding 8 metres and an average thickness of 11.5 metres. The two zones, with lengths known to exceed 400m and 600m, are both open on two or more sides. The ratio of overburden above the two zones of silica sand is less than 1:1. However, the extent of the silica sand potentially of use as frac sand, the highest and best use, cannot be reliably determined. A drill rig capable of both core and auger drilling was utilized in anticipation of difficult conditions for sample recovery. Although the auger drilling method proved to be the better of the two methods, neither method provided good sample recoveries. The sampling from the current sonic drill program should be capable of achieving NI 43-101 standards for sample recovery.

In the summer of 2007, Gossan completed a series of tests on various sized sub-samples of Manigotagan silica sand and the results have exceeded all of the minimum standards for frac sand used by the oil and gas industry. This analysis, known as Proppant Testing, was conducted by PropTester Inc. of Cypress, Texas using the American Petroleum Institute's standards for the following tests: Sieve analysis (particle distribution and MPD), Crush test (crush resistance), Krumbein shape factors (roundness and sphericity), Densities (bulk and specific gravity), Photomicrographs, Acid Solubility (12:3 HCl:HF), Turbidity (silt and fine particulates), as well as, PropTester's PT Crush Profile.

Manigotagan silica sand has potential uses in foundries and smelters; in the production of float or container glass; and in the oil & gas industry as frac sand. Silica sand from the property has been subjected to a variety of tests that indicate it is of a high purity with few contaminants and that it is similar to the silica sands previously quarried at nearby Black Island. A prior composite of 19 samples, returned a silica content of 94.2% without sizing or treatment. Sizing, washing or other simple treatments significantly improve the purity. Tests to date indicate that these silica sands appear to meet all the requirements for use as frac sand in shallow gas wells and as metallurgical flux.

G. Ryan Cooke, P.Geo., Gossan's Qualified Person for the Manigotagan Silica Property, has reviewed and approved the contents of this news release.

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 and minor metals, tantalum, lithium, chromium, titanium and vanadium. The Company also has a large deposit of magnesium-rich dolomite, the world-wide rights to the Zuliani magnesium production process, and a silica sand prospect. Gossan trades on the TSX Venture and the Frankfurt/Freiverkehr & Xetra Exchanges and has 29,020,900 common shares outstanding.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION 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" 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 risks and uncertainties include but are not limited to those identified and reported in Management's Discussion and Analysis for the year ended March 31, 2007. Circumstances or management's estimates or opinions could change, and management disclaims any obligation to revise or update forward-looking statements, whether for new information, future events or otherwise. The reader is cautioned not to place undue reliance on forward-looking statements.

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