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Swedish Property Acquisition
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Gold-Ore Resources Ltd. (the "Company") announces that it has purchased
100% interest in 9 exploration permits covering 35 square kilometres
from North Atlantic Natural Resources AB, a Swedish company owned by
Lundin Mining Corporation. The permits are contiguous with the east and
south boundaries of the Company's Bjorkdal Gold Project. The Bjorkdal
Project together with this new acquisition totals 78 square kilometres
covering most of the Bjorkdal granodiorite intrusive complex. Gold-Ore
has an option to purchase 100% of the Bjorkdal Project from Minmet plc.
Exploration programs conducted in the 1990's on the permits included
soil and base of till geochemical sampling, prospecting, trenching,
geological mapping and 96 widely spaced shallow diamond drill holes.
The programs discovered several locations where gold grains were
recovered from the till. Diamond drilling intersected Bjorkdal style
quartz veining containing gold associated with bismuth and tellurium
hosted by granodiorite. The most significant drill intersections are
reported in the following table.
Significant Reported Intersections
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Core Interval
Hole Number From (m) To (m) (m) Gold grade g/t
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94008 40.15 42.15 2.0 2.61
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95050 18.87 19.87 1.0 3.86
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95055 71.0 74.2 3.2 13.7
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and 75.2 78.2 3.0 3.35
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95059 47.0 53.0 6.0 179.8
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including 48.0 49.0 1.0 1017.5
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96001 55.74 57.74 3.0 8.57
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96002 61.1 62.1 1.0 23.71
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96005 81.2 82.2 1.0 3.83
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96006 80.0 81.0 1.0 7.66
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96012 58.0 59.0 1.0 5.18
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96028 36.8 38.8 2.0 18.9
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96035 17.5 18.14 1.0 6.76
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"This is a strategic acquisition for Gold-Ore and illustrates our
confidence in the Bjorkdal Project" states Glen Dickson, Gold-Ore's
Chairman. "It expands our exploration portfolio and provides us with
excellent targets in close proximity to our operating plant. Any new
resources discovered could be rapidly developed and trucked to the
Bjorkdal plant thereby increasing our production profile."
Results of a GEOTEM airborne geophysical survey conducted by North
Atlantic covering the entire area of the permits including the Bjorkdal
property are also included in the purchase.
Under terms of the purchase agreement, Gold-Ore issued 250,000 units to
North Atlantic. Each unit consists of a common share and a share
purchase warrant. Each warrant can be exercised to purchase an
additional common share of Gold-Ore at $1.10 until September 28th,
2008. In addition, North Atlantic retains a 2% net smelter royalty on
any metal produced from the permits. Gold-Ore has a right of first
refusal to purchase the royalty should North Atlantic wish to sell it.
For more information please contact Glen Dickson or Bob Wasylyshyn at
(604) 687-8884. Bjorkdal property information is posted on the
Company's web site at www.goldoreresources.com Robert S. Wasylyshyn; P.
Geo. is the Company's Qualified Person for the Bjorkdal Project.
On Behalf of the Board of Directors
Glen Dickson, Chairman
GOLD-ORE RESOURCES LTD.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. 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.
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Copyright (c) 2007 GOLD ORE RESOURCES LTD. (GOZ) All rights reserved.
For more information visit our website at
http://www.goldoreresources.com/ or send
mailto:info@goldoreresources.com
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