Goldcliff Resource Corporation: Panorama Ridge-A New Gold Discovery, Hedley Gold Basin, Canada.

Business Editors

VANCOUVER, British Columbia--(BUSINESS WIRE)--March 31, 2004

Leonard W. Saleken, President of Goldcliff Resource Corporation (TSX VENTURE:GCN), is pleased to report that the gold results from the 2003 exploration drilling program have yielded a new gold discovery at Panorama Ridge in the Hedley Gold Basin, British Columbia, Canada. The drilling was very successful. The gold results are extremely encouraging.

The Panorama Ridge property exploration model is based on the Nickel Plate-Mascot gold mine, "one very large gold deposit of world-class size (Ettlinger and Ray, 1989)." The Nickel Plate-Mascot deposit is geologically situated in the Late Triassic Nicola Group of sedimentary rocks, the Hedley Formation, and occurs within a favourable suite of rocks that are approximately 200 metres thick. This rock suite contains an extensive zone of heightened gold mineralization (GMZ) From 1904 to 1996, the Nickel Plate-Mascot mine produced 2.5 million ounces of gold from one very large gold skarn deposit. The GMZ has now been found on Goldcliff's Panorama Ridge property.

Goldcliff's exploration work discovered a large surface area that contains coincidental geological, geochemical and geophysical anomalies, and surface gold showings that cover approximately 2.8 square kilometres. Within this discovery area, careful examination and interpretation of exploration data identified 40 initial drill holes in three gold target zones, the Epic, Panorama and Castle zones.

In 2003, Goldcliff drilled 17 core holes, 16 of which intersected the GMZ. Of these 16 holes, seven contained potential economic gold grades over significant intervals in three separate areas: York-Viking (Panorama), Nordic (Panorama) and Tower (Castle) showings. The gold intervals (core lengths) and values are summarised below:

Drill           GMZ  Gold Intervals  Gold Intervals  Gold Grades
Holes  Total Length    Total Length    Total Length  Grams/tonne
(DDH)            (m)             (m)             (f)        (g/t)

DDH23003     118.60           69.92          299.34         1.01
DDH23003   includes           28.00           91.84         1.52
DDH23003        and           18.00           59.04         2.04
DDH23003        and            7.00           22.96         3.31
DDH23003        and            1.00            3.28         7.65
DDH23004     130.73           48.00          157.44         1.01
DDH23004   includes           17.00           55.76         1.50
DDH23004        and           11.00           36.08         2.00
DDH23004        and            3.00            9.84         3.12
DDH23004        and            1.00            3.28         5.12
DDH23005     109.42           54.67          179.32         1.05
DDH23005   includes           16.91           55.46         1.50
DDH23005        and            4.00           13.12         2.09
DDH23005        and            1.00            3.28         3.19
DDH23006     123.14           15.00           49.20         1.02
DDH23006   includes            5.00           16.40         2.16
DDH23006        and            2.00            6.56         4.43
DDH23006        and            1.00            3.28         7.86
DDH23010     141.13           19.21           63.01         1.03
DDH23010   includes            7.00           22.96         1.50
DDH23010        and            1.00            3.28         2.17
DDH23012      99.09           32.27          105.85         1.00
DDH23012   includes           13.00           42.64         2.10
DDH23012        and            3.00            9.84         3.33
DDH23012        and            1.00            3.28         3.90
DDH23013      99.09           34.00          111.52         1.00
DDH23013   includes           11.00           36.08         2.06
DDH23013        and            6.00           19.68         2.65
DDH23013        and            2.00            6.56         2.84

The early-stage exploration drilling results on the Panorama Ridge property signify a new gold discovery in the Hedley Gold Basin. For the limited amount of wide spaced drilling conducted (17 holes, 1,920 metres, covering an area approximately 300 by 1000 metres), the drilling results are very successful and are extremely encouraging.

For comparison, Mascot Gold Mines (1984 to 1986) drilled over 22,600 metres in approximately 475 drill holes to develop an open-pit gold ore body at the Nickel Plate-Mascot gold mine. The Mascot drilling resulted in the production (1987 to 1996) of approximately 1.0 million ounces of gold at a recovered grade of 1.98 g/t gold (Minfile, 2004).

Goldcliff's drilling success of 2003 has focused the Company's objective to discover another very large gold deposit of world-class size on the Panorama Ridge property. Goldcliff has sufficient funds to plan an enlarged exploration and drilling program on the Panorama Ridge property for 2004.

Leonard W. Saleken, PGeo and Grant F. Crooker, PGeo, the qualified persons as defined by National Instrument 43-101, supervised the preparation and verified the technical information in this release. The core samples were prepared and analyzed by EcoTech Laboratory Ltd. in Kamloops, B.C. All exploration and drill results have been previously reported.

GOLDCLIFF RESOURCE CORPORATION

Leonard W. Saleken, PGeo, President

USA Exemption 12g3-2b:82-2748

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