GSR Goldstrike Resources Ltd New

Goldstrike Resources Ltd. (TSX VENTURE:GSR)(PINKSHEETS:APRAF)(FRANKFURT:KCG1) is
pleased to announce that it has mobilized for the Phase One drill program on its
100% owned Plateau South property, targeting several locations where numerous
high grade grab samples, up to 15.45 ounces per ton, were taken from bedrock and
subcrop along the newly discovered 25 kilometre long Yellow Giant Trend (News
Release October 30, 2012). The Phase One program is designed to test several
strong drill targets at large structural intersections that coincide with high
grade mineralization seen on surface, including the VG Zone, where high grade
rock grab samples containing visible gold are associated with an extensive area
of intense silica flooding and albitization of a previously unmapped felsic
volcanic sequence. Initial drilling is planned to consist of a series of shallow
holes of 150 metres or less, totaling up to 2,000 metres. Compilation of data
from the 2012 exploration season indicates that the Yellow Giant Trend is a new
district-scale gold bearing system, and the Company has identified many new
areas of strong gold potential that remain to be explored.


Within the two kilometre long VG Zone, three dimensional magnetic imaging has
defined a northeast-trending magnetic low approximately 250 metres long and 150
metres wide, directly beneath surface expressions of quartz and quartz-flooded
felsic volcanics that produced grab samples containing visible gold, with
multi-ounce samples taken from felsenmeer (subcrop) that included 15.45, 8.18,
6.13, 4.65, 1.90, and 1.76 ounces per ton (525.86, 280.60, 210.26, 159.48,
65.15, and 60.51 grams per tonne) as reported in previous news releases. This
northeast structure is believed to be directly associated with the gold
mineralization and strong silica (quartz) flooding seen at surface, and is to be
drill tested.


Within the 11 kilometre long Goldbank Zone, several target areas to be drill
tested have returned numerous bedrock samples assaying up to 26.99, 24.70 and
34.25 grams per tonne gold respectively. These bedrock target areas have a
northwest-southeast orientation parallel to stratigraphy, and are thought to
coincide with dilation zones related to flat-lying fold hinges in the volcanics,
forming sites considered by Company geologists to have excellent potential for
gold deposition. Based on alteration patterns, surface dimensions of individual
target areas along the Goldbank Zone are up to 1 kilometre (1,000 metres) long,
and 0.6 kilometres (600 metres) wide, and remain open.


Geophysics, spectral analysis, and petrochemical studies have outlined several
large areas of quartz-albite alteration up to 4.1 kilometres long and 2
kilometres wide that coincide with the high grade mineralization found at
surface in both the VG and Goldbank zones. Magnetic and geological mapping show
that the alteration and highest gold grades are concentrated in areas where
broad northeast-trending magnetic lows up to a kilometre wide cut across a thick
sequence of regionally deformed rhyolite volcanics that strike
northwest-southeast and have been folded twice about sub-horizontal
northwest-trending axes. The crosscutting structures are interpreted as zones of
closely spaced fracture cleavage that have allowed large volumes of quartz and
albite to invade and alter the volcanic rocks. All of the evidence to date is
consistent with a new district scale gold-bearing system.


"This is a new high grade gold discovery in a previously unknown volcanic belt,
on ground that has never been staked before," said Goldstrike CEO and President
Terry King. "We have used some of the best available technology and consultants
in the business to mitigate risk, and have embarked on a program to drill the VG
and Goldbank zones for the first time. We believe a successful drill campaign on
this property will confirm that the Yellow Giant Trend/Plateau South area has
the potential to evolve into a new gold camp, and build significant shareholder
value. We look forward to the results of this summer's drilling with great
anticipation." 


Sample analysis and assaying for all of Goldstrike's projects are being
conducted by Acme Analytical Laboratories Ltd in Vancouver, BC and AGAT
Laboratories Limited in Mississauga, Ontario, both of which are ISO 9001
accredited. Soil samples are dried at 60C, reduced to 100 grams, and sieved to
-80 mesh. A 15 gram charge is then dissolved with a 1:1:1 aqua regia digestion,
and analyzed by a 72-element combination ICP-MS and ICP-AES package that
includes gold. Rock samples are crushed, split, and 250 gram samples are sieved
to 200 mesh. 30 gram charges are then assayed for gold using fire assay fusion
and ICP-ES, and in addition, 0.5 mg charges are dissolved with a 1:1:1 aqua
regia digestion, and analyzed by 37-element ICP-MS that also includes gold.
Rigorous procedures are in place regarding sample collection, chain of custody
and data entry. Certified assay standards, duplicate samples and blanks are
routinely inserted into the sample stream to ensure integrity of the assay
process.


Note: Grab samples are selective by nature, and are unlikely to represent
average grades on the property.


Trevor J. Bremner, P. Geo., Chief Consulting Geologist and Goldstrike Board
Member, is a qualified person, as defined by National Instrument 43-101, for
Goldstrike's Yukon exploration projects and supervised the preparation of the
technical information in this release. 


ON BEHALF OF THE BOARD

Terrence E. King, President and Chief Executive Officer

For further information and maps on the Plateau property, please visit
Goldstrike's website at www.GoldstrikeResources.com and follow the Company's
tweets at www.Twitter.com/GoldstrikeRes.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
King James Capital Corporation
Jeff Stuart
Investor Relations
(604) 805-0375
jstuart@kingjamescapital.com
www.GoldstrikeResources.com

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