Gold Reach Clarifies Public Disclosure
July 12, 2012: Vancouver, British Columbia: Gold Reach Resources Ltd. (GRV: TSX-V) (Gold Reach and/or the Company) announce that as a result of a review by the British Columbia Securities Commission, we are issuing the following news release to clarify our disclosure.
The Company will file an amended technical report titled “Mineral Resource Estimate Update for the Seel Copper Gold Porphyry Deposit, Tahtsa Reach Area, British Columbia, Canada, dated February 15, 2012.” Dr. Shane Ebert has been removed as an author of the report as he is not independent of the Company. The report will remain unchanged and the remaining 2 authors, who are independent of the Company, and are Qualified Persons as defined in NI 43-101, will be the sole authors of the report.
In addition changes have been made to the Company’s July 2012 Corporate Presentation which is available on our website. Slide 20 has been modified to remove volume-tonnage and mean grades associated with 3-D voxel models of the Seel deposit that were based on copper equivalent values in drill holes. These voxel models are unconstrained and the tonnage and grade numbers associated with them are not NI 43-101 compliant and are intended to illustrate the grade distribution within the deposit and show where the mineralized zones remain open. The corporate presentation also stated that “With more drilling the ultimate target size (of the Seel deposit) could be >500 mt”. This reference to target size has been deleted from the presentation as it is not compliant with section 2.3(2) of NI 43- 101. Dr. Shane Ebert has been added as the Qualified Person responsible for the technical disclosure in the Corporate Presentation.
About Gold Reach Resource
Gold Reach Resources Ltd. is a Canadian exploration Company with an experienced board and management team that is actively involved in mineral exploration in British Columbia. The Company holds a 100% interest in the Ootsa Property, located adjacent to the producing Huckleberry Mine, and containing the Seel and Ox porphyry systems. The Seel porphyry contains a NI43-101 compliant resource containing 214.78 million tonnes grading 0.17% Cu, 0.13 g/t Au, 0.017% Mo, and 2.17 g/t Ag (0.33% Cu Eq) in the inferred category plus an additional 28.13 million tonnes grading 0.22% Cu and 0.21 g/t Au (0.40% Cu Eq) in the indicated category. The Ox porphyry, located 4 km northwest of Seel, contains a NI43-101 compliant resource containing 16 million tonnes grading 0.3% Cu and 0.04% Mo in the inferred category.
The Company is well financed with over $6.8 million dollars in the treasury and holds a 2% NSR covering 23,000 hectares of mining claims located adjacent to the Blackwater Gold deposit in central British Columbia. Additional information is available on our website at www.goldreachresources.com.
Dr. Shane Ebert P.Geo., President of the Company, is the Qualified Person for the Ootsa project as defined by National Instrument 43-101 and has approved the technical disclosure contained in this news release.
“Shane Ebert”
Shane Ebert, President/Director
For Further information, please contact:
Telephone: 604-718-5454 S. Ebert direct line: 250 964-2699 Toll Free: 888-500-4587
Neither the 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.
Safe Harbour Statement: The Company relies upon litigation protection for “forward-looking statements.” The Company undertakes no obligation to update these forward- looking statements in the managements beliefs, estimates obligations or other factors should change.