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Goldstrike Identifies Several Drill-Ready Gold Bearing Structures

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 21, 2013) - Goldstrike Resources Ltd. (TSX VENTURE:GSR)(APRAF)(KCG1.F) is pleased to report the results of recent high resolution airborne and ground geophysics, geological mapping, structural interpretation, geochemical and alteration studies, petrographic studies, and spectral matching of remote sensing data on its 100% owned Plateau South property, where numerous high grade grab samples up to 15.45 ounces per ton have been documented at surface along the 25 kilometre Yellow Giant gold trend (News Release October 30, 2012). The detailed studies have clearly identified several excellent drill targets at large structural intersections that coincide with high grade gold seen on surface, and have also identified many other new areas with strong gold potential that remain to be explored. 

The property's gold potential has been significantly enhanced by identifying and mapping the extent of several large areas of quartz-albite alteration up to 4.1 kilometres long and 2 kilometres wide that coincide with the high grade gold mineralization found at surface on both the VG and Goldbank zones. Magnetic maps and geological mapping show that the alteration and the highest gold grades are concentrated in areas where broad magnetic northeast-trending lows up to 1 kilometre wide cut across regionally deformed northwest-trending stratigraphy. All of the evidence to date is consistent with a new district scale gold-bearing system.

To view the first map associated with this press release, please visit the following link: http://media3.marketwire.com/docs/Yellow_Giant_total_magnetic_intensity_map.pdf.

The recent high resolution airborne geophysical survey flown by Precision Geosurveys shows a series of broad northeast-southwest trending magnetic lows up to 1 km wide that cut across a newly mapped package of regionally deformed rhyolite volcanics. Geophysical and structural studies show that the volcanic rocks that have been folded twice about horizontal northwest-trending axes. The magnetic lows coincide with extensive areas where high grade gold has been found at surface, and 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. A petrochemical study showed five times as much gold and ten times as much arsenic in sodium (albite) enriched zones relative to others, providing an additional vector for gold targets.

Three of the intersections where large northeast-trending magnetic structures cross the stratigraphy were subjects of reconnaissance prospecting and sampling late in the 2012 field season, and all three returned high grade gold values on surface, providing multiple strong drill targets. Company geologists believe the results to date indicate excellent potential for gold mineralization in the remaining unexplored structures and across the entire Yellow Giant System.

To view the second map associated with this press release, please visit the following link: http://file.marketwire.com/release/Yellow_Giant_geology_map_on_greyscale_magnetics.pdf.

Within the two kilometre long VG Zone, three dimensional magnetic imaging has clearly defined a northeast-trending magnetic low approximately 250 metres long and 150 metres wide, directly beneath grab samples of quartz and quartz-flooded felsic volcanics containing visible gold, with grades up to 529.86 grams per tonne (15.45 ounces per ton) as reported in previous news releases. Several drill targets have been identified along this structure. This northeast structure is believed to be directly associated with the gold mineralization seen at surface, as well as a very strong silica (quartz) response on the multi-spectral analysis measuring 4.1 kilometers (4,100 metres) by 0.7 to 2 kilometres (700-2,000 metres).

Within the 11 kilometre long Goldbank Zone, several compelling drill target areas have been defined where high grade gold mineralization has been found in outcrop at the intersection of several northeast structures with felsic volcanics. The targets 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 long (1,000 metres) and 0.6 kilometres wide (600 metres). As reported in previous news releases, reconnaissance rock grab samples along the 11-kilometre Goldbank Zone assayed up to 34.25 grams per tonne gold.

At the time of this news release, detailed studies of the Goldstack Zone are still in progress. Initial results are very encouraging, and will be incorporated into the exploration plan.

"Goldstrike has used the best available technology, and has employed some of the best consultants in the industry to review all of the data from its flagship Plateau South gold property, and as a result, we now have a number of very strong and clearly defined drill targets that we plan to test in the upcoming drilling season," said Goldstrike CEO and President Terry King. "Our initial 2012 reconnaissance sampling program recovered many bonanza grade grab samples at key structural intersections along the 25 kilometre Yellow Giant Trend that that are now recognized as high priority gold targets. Many of these large structural intersections remain to be explored and are considered to have excellent potential to host gold mineralization. The Company looks forward with great anticipation to the planned drill program."

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., Senior 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.

For further information and maps on the Plateau property, please visit Goldstrike's website at GoldstrikeResources.com, follow the Company's tweets at Twitter.com/GoldstrikeRes and contact Jeff Stuart of King James Capital Corporation, handling Investor Relations for the Company, by telephone at (604) 805-0375 or by email at jstuart@kingjamescapital.com.


Terrence E. King, President and Chief Executive Officer

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.