Glamis Gold Discovers High Grade Gold and Silver Mineralization at La Hamaca.

Business Editors

RENO, Nev.--(BUSINESS WIRE)--March 24, 2004

Glamis Gold Ltd. (NYSE:GLG)(TSX:GLG) today reported initial drilling results at the La Hamaca prospect, located approximately three kilometers north of its Marlin project in Guatemala. La Hamaca is the northern-most of five targets within a six kilometer radius of Marlin.

Reverse circulation drilling has identified high grade gold and silver mineralization similar in grade and character to the veins at Marlin. The first phase, 10-hole program has identified gold mineralization within an East-West trending high-angle vein, hosted within altered andesite. The quartz-calcite vein has been traced by drilling and surface outcrop sampling along a strike length of 280 meters within a gold-in-soil anomaly of 800 meters in length. Additional untested structures containing gold and silver mineralization have been identified by surface sampling within a 200 meter distance to the south.

Significant drilling results are as follows:

                          True
Hole           Interval  Width   Gold  Silver  Au Equiv
Number               (m)    (m)  (g/t)   (g/t)     (g/t)
------    -------------  -----   ----  ------  --------
LH04-01   141.0 - 150.0    5.2   23.3     735      34.6
LH04-02   178.5 - 180.0    0.9    8.0     213      11.3
LH04-04   130.5 - 135.0    2.6   31.3   1,240      50.4
LH04-09    99.0 - 103.5    3.2   13.8     373      19.5

To view a map of the priority targets, drill hole locations, a long section of the drilling results, and the entire drill-hole assay database, click on the "What's New" section on the Glamis website at www.glamis.com.

The long section indicates four of the completed holes have intercepted the La Hamaca vein and the vein is open to the east, west and to depth. Another seven holes have been added to the first phase program and will be drilled to test the vein in these directions. The remainder of the program will be completed with core drilling. The potential of the parallel structures to the south will also be tested.

Initial metallurgical testing indicates that the La Hamaca mineralization is similar to the Marlin ores and amenable to conventional processing technology. Further test work is planned.

One of the Company's prime objectives is to look beyond the initial Marlin discovery and attempt to develop the area into a new gold producing district. Once the phase one drilling program is completed, Glamis expects to analyze and comment further on any potential impacts to the Marlin project development plans.

Exploration activities on the other targets near Marlin will proceed throughout 2004. These targets appear similar to La Hamaca in terms of geology, alteration and gold-in-soil geochemical signatures.

Other Exploration

Elsewhere in Guatemala, regional work is underway on several targets. Glamis expects to drill test at least two of the regional targets (within 30 kilometers of Marlin) in 2004.

El Sauzal exploration efforts are focused on developing targets for resource expansion. Exploration drilling at El Sauzal awaits completion of mine construction which remains on schedule for initial gold production in the fourth quarter of this year.

Marigold drilling is focused on converting resources to reserves, with recent results showing promise for reserve additions during the year. In-fill drilling of the Section 30 and TZN areas is the top priority at present. Marigold mine production will be low in the first quarter as expansion activities proceed. The production forecast for 2004 remains unchanged at 170,000 ounces of gold on a 100 percent basis. At San Martin mine in Honduras, operations continue to show improvement over last year.

Glamis Gold Ltd. is a premier intermediate gold producer with low-cost gold mines and development projects in Nevada, Mexico and Central America. The Company remains debt free and 100 percent unhedged. Glamis' plan and budget reflects annual gold production doubling to more than 600,000 ounces by 2006 at a total cash cost well below $150 per ounce.

Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, include, but are not limited to those with respect to, the price of gold, the estimation of mineral reserves and resources, the realization of mineral reserves estimates, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of new deposits, success of exploration activities, Glamis' hedging practices, permitting time lines, currency fluctuations, requirements for additional capital, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims limitations on insurance coverage and the timing and possible outcome of pending litigation. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", or "does not expect", "is expected", "budget", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variation of such words and phrases or state that certain actions, events or results, "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Glamis to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the actual results of current exploration activities, actual results of current reclamation activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold, possible variations in ore grade or recovery rates, failure of plant, equipment or processes to operate as anticipated, accidents, labor disputes and other risks of the mining industry, delays in obtaining governmental approvals or financing or in the completion of development or construction activities, as well as those factors discussed in the section entitled "Other Considerations" in the Glamis Annual Information Form. Although Glamis has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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