GOLD Reach Provides a Review of 2016 Activities
GOLD REACH PROVIDES A REVIEW OF 2016 ACTIVITIES
January 17 , 201 7, Vancouver, Br itish Columbia - Gold Reach Resources Ltd. ( the “Company” or “Gold
Reach”) ( TSX-V:GRV) is pleased to provide an overview of the Company’s accomplishments during 20 16.
Gold Reach owns a 100% interest in the Ootsa P roperty, an advanced stage exploration project containing the
East Seel, West Seel and Ox porphyry deposits located adjacent to the Huckleberry open pit copper mine in
British Columbia.
Key advances made in 2016 include:
In February, the Company released a R esource Update and Preliminary Economic Assessment (PEA)
for the Ootsa Property. Details of the study can be found in the Company’s February 9, 2016 news
release, and in a technical report, available on the Company’s website and on SEDAR. The PEA shows
potential for a low capital cost, low r isk, high margin project with rapid pay b ack utilizing existing
infrastructure in the district with a contract mining and toll m illing scenario. The study indica tes
significant amounts of copper, gold, molybdenum, and silver could potentially be produced over 12
years.
In July the Company successfully raised $700,000 by way of a non -brokered private placement, having
increased the originally announced $600,000 financing due to strong demand.
In August and September, the Company completed mapping an d sampling at the Troitsa Peak T arget,
located on the Ootsa Property. This work defined an alteration zone 1700m long by 250m wide with
surface samples returning up to 1.4 g/t gold and 40 g/t silver over 1m. A float b oulder of black matrix
porphyry was found during prospecting and returned 4.78% copper and 96.9 g/t silver, and represents a
new exploration target in the area. Details of this exploration program can be fo und in the Company’s
September 30, 2016 news release available on the Company’s website.
In September, base line water sampling was conducted around the Seel and Ox deposits. This sampling
program is part of an on-going effort to advance the deposits, re move project risk, and prepare for
further advanced economic studies.
Dr. Shane Ebert Pr esident of the Company stated , “Gold Reach has made significant progress in 2016 with the
completion of a positive economic study on our Seel and Ox deposits, and the identification of new exploration
targets on the property. W e look forward to further progress in 2017 as we pursue corporate opportunities,
continue to advance our main deposits , and further our exploration targets. Programs, budgets, and
opportunities for 2017 are still being evaluated and details will be released once finalized.”
Incentive Stock Options Granted
The Company has granted 793,000 incentive stock options to its directors, officers, employees, and consultants,
at an exercise price of $0.12 per share for a term of five years from the date of the grant. The incentive stock
options were granted in accordance with the Company’s Stock Option Plan and in part replace 923,000 options
that expired on January 3, 2017.
About Gold Reach Resources
Gold Reach Resources own s a 100% interest in the Ootsa P roperty, an advanced stage exploration project
containing the East Seel, West Seel and Ox porphyry deposits located adjacent to the open pit Huckleberry
copper mine. The property contains NI 43-101 compliant resources of 224 million tonnes in the Measured and
Indicated categories with contained metals of 1.1 billion pounds of copper and 1 million ounces of gold as
summarized in the table below.
Ootsa Project Pit Constrained Mineral Resource Estimate at $8.50/t NSR Cut-off Value
Category Tonnes
(‘000’s)
CuEq
%
Cu
%
Au
g/t
Mo
%
Ag
g/t
CuEq
M lbs
Cu
M lbs
Au
K oz
Mo
M lbs
Ag
K oz
Measured 187,148 0.38 0.23 0.15 0.021 2.8 1,568 934 916 85 17,089
Indicated 37,041 0.35 0.21 0.12 0.023 2.8 286 175 146 19 3,368
M&I 224,189 0.37 0.22 0.15 0.021 2.8 1,854 1,109 1,062 104 20,457
On February 9, 2016, the Company announced a positive Preliminary Economic Assessment (PEA) for the
Ootsa Property with potential for low capital cost, low risk and rapid pay back utilizing existing infrastructure in
the district with a contract mining and toll m illing scenario. The study recommends that Gold Reach continue
to advance the Ootsa Project with extended and advanced technical studies with the intention of moving the
project toward a production decision.
The current technical report supporting the resource statement and PEA is available on SEDAR or the Company’s website at
www.goldreachresources.com and has an effective date of January 2016. The resource estimate uses $8.50 per tonne NSR cut -off value. Mineral
resources are not mineral reserves and by definition do not demonstrate economic viability. There is no certainty that all or any part of the mineral
resource will be converted into mineral reserves. A ‘Measured Mineral Resource’ is that part of a mineral resource for which quantity, grade or
quality, densities, shape and physical characteristics are so well established that they can be es timated with confidence sufficient to allow the
appropriate application of technical and economic parameters, to support production planning and evaluation of the economic v iability of the
deposit. An ‘Indicated Mineral Resource’ is that part of a Minera l Resource for which quantity, grade or quality, densities, shape and physical
characteristics can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters, to
support mine planning and evaluation of the economic viability of the deposit. Copper Equivalent (CuEq) calculations are based on base case metal
price (US$3/lb Cu, US$1260/oz Au, US$10.30/lb Mo, and US$17/oz Ag) and process recovery assumptions, and take into account smelter payabl e
rates and refining costs. M&I = measured and indicated.
Dr. Shane Ebert P.Geo., 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”
President and Chief Executive Officer
For Further information, please contact:
Telephone: 604-718-5454
Toll Free: 888-500-4587
http://goldreachresources.com
Or
Don Mosher
Corporate Development
Telephone: 604-685-6465
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Ven ture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
This News Release contains forward -looking statements, which relate to future events. In some cases, you can identify forward -
looking statements by terminology such as "will", " may", "should", "expects", "plans", or "anticipates" or the negative of these terms
or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and
other factors that may cause the Company’s act ual results, level of activity, performance or achievements to be materially different
from any future results, levels of activity, performance, or achievements expressed or implied by these forward -looking-statements.
Such uncertainties and risks may incl ude, among others, that the Offering will not complete, actual results of the Company's
exploration activities being different than those expected by management, delays in obtaining or failure to obtain required g overnment
or other regulatory approvals or financing, inability to procure equipment and supplies in sufficient quantities and on a timely basis,
equipment breakdown and bad weather. While these forward-looking statements, and any assumptions upon which they are based, are
made in good faith and re flect the Company's current judgment regarding the direction of its business, actual results will almost
always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance sugg ests
herein. Except as req uired by applicable law, the Company does not intend to update any forward -looking statements to conform
these statements to actual results.