Golden River Resources Announces High Grade Surface Results.MELBOURNE, Australia -- Golden River Resources Corporation, (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :GORV), a Delaware Corporation A Delaware corporation is a corporation chartered in the U.S. state of Delaware. Delaware is well known as a corporate haven, and thus, over 50% of US publicly-traded corporations and 58% of the Fortune 500 companies are incorporated in the state. specializing in gold exploration, is pleased to announce it has received results from surface sampling at its exploration properties within the Slave Craton The Slave craton is a relatively small Archean craton (about 300,000 km²) located in the Northwest Territories of Canada. It is dominated by ca. 2.73-2.63 Ga greenstones and turbidite sequences and ca. 2.72-2. Nunavut, Canada. Golden River Resources advises that the recently completed exploration program follows up a highly successful 2004 examination with a focus on re-examining key areas for a planned winter drill program. During our summer field program, a total of 901 samples were taken in and around the Contwoyto Lake Contwoyto Lake is a lake in the Kitikmeot Region of the Canadian territory of Nunavut, located near the border with the Northwest Territories. With a total area of 957 km² (369 sq mi), it is the territories' tenth largest lake. The Lupin Mine is located near Contwoyto Lake. and Hood River The Hood River is a tributary of the Columbia River in northwestern Oregon in the United States. Approximately 25 mi (40 km) long from its mouth to its farthest headwaters on the East Fork, the river descends from wilderness areas in the Cascade Range on Mount Hood and flows concessions within the Slave Craton. Sample preparation and analysis was conducted by Acme Analytical Laboratories Ltd of Vancouver, B.C. Samples were analysed with a 36 element geochemical procedure and gold fire assays were conducted where warranted. The field program and sampling was under the direct supervision of Bruce Goad, PGeo, a Qualified Person under NI 43-101. Hood River Concession Our Hood River concession covers 15,450 acres of prospective ground in the High Lake volcanic belt A volcanic belt is a large volcanic region. Other terms are used for smaller areas of activity; in shrinking size there are volcanic belts, clusters, chains and fields.[1] . Our most recent results from 343 rock outcrop samples collected primarily in three prospective sectors continue to show encouraging results. Of the 343 samples: * 117 returned values greater than 0.5 g/t gold. * 33 contained 3.0 g/t to 60.0g/t gold Significant results are presented in table format below. [TABLE OMITTED] The Penthouse prospect covers a large structurally controlled 3 kilometer long zone of sheared sheared adj. Shaped or finished by shearing, especially cut or trimmed to a uniform length: a sheared fur coat. Adj. 1. and brecciated brec·ci·ate tr.v. brec·ci·at·ed, brec·ci·at·ing, brec·ci·ates To form (rock) into breccia. brec siliceous siliceous relating to or made of silica or a silicate. basalts and sediments that may be directly analogous to the nearby Ulu deposit. Arsenopyrite arsenopyrite (är'sĭnōpī`rīt, ärsĕn`ō–) or mispickel (mĭs`pĭkəl), silver-white to steel-gray mineral with the metallic luster characteristic of a pyrite. mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. is abundant over a 500 metre wide by 2 700 metre long area proximal to the volcanic-sediment contact. The results indicate the need for follow up drill investigation. These surface results will be combined with our geophysical data to form the basis for new drill targets in 2007. [TABLE OMITTED] These samples were collected over an area measuring 400 metres by 800 metres. The North Fold Nose zone is located approximately 3 km north of the ULU deposit and is thought to be part of the same major fold structure which hosts the ULU deposit. Contwoyto Lake Area The Contwoyto concessions cover an area of 11,062 acres. With the use of recent airborne geophysical surveys and new structural data, Golden River Resources has outlined numerous zones of banded iron formations with strike lengths of over several kilometres. A total of 381 samples were collected from the six Contwoyto concession subsections. To date the scope of work has been limited to a more regional nature in this area. The majority of the best values (between 600 and 14,000 ppb gold) come from folded and faulted deformation zones within several of the iron formation horizons. The size and nature of at least these areas appear similar to the nearby Lupin Mine. Several new claims were staked over some of the most promising areas. Further detailed work is required over the principle areas of the Contwoyto concession. Background to Slave Craton Concessions Golden River Resources has an arrangement with Tahera Diamond Corporation ("Tahera"), to explore for gold and base metals on the Tahera ground in the Contwoyto Lake area, proximal to the Lupin Mine and the High Lake Volcanic Belt, in the Hood River area within the Slave Craton of Nunavut in Canada. Golden River is very encouraged by the results of the 2006 exploration program which was successful in finding locations of strong gold mineralization. Our planned drill program is expected to take place during the 2007 winter months. About Golden River Resources Corporation Golden River Resources is a Delaware Corporation that is focusing its activities in the mining and exploration industry. Golden River Resources has entered into an arrangement with Tahera Diamond Corporation, a Canadian diamond explorer, to explore for gold and base metals on Tahera's ground in the Slave Craton of northern Canada. Through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Golden Bull Resources, the Company also has highly prospective properties within the Committee Bay Greenstone Belt, Canada. Golden River Resources is continuing to investigate opportunities in the industry for investment and or other types of participation. For further information please visit our website at www.goldenriverresources.com. Forward-Looking Statements Forward-looking statements in this press release are made pursuant to the "safe harbour" provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties including, without limitation, the risks of exploration and development stage projects, risks associated with environmental and other regulatory matters, mining risks and competition and the volatility of mineral prices. Actual results and timetables could vary significantly. Additional information about these and other factors that could affect the Company's business is set forth in the Company's fiscal 2006 Annual Report on Form 10-KSB and other filings with the Securities and Exchange Commission. |
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