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Message: The Chinese are investing in a Nickel explorer (Goldbrook)

The Chinese are investing in a Nickel explorer (Goldbrook)

posted on Feb 11, 2009 09:27AM

http://www.marketwire.com/press-rele...

Feb 11, 2009 11:21 ET

Goldbrook Receives Initial Funding for 2009 Exploration Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 11, 2009) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Goldbrook Ventures Inc. ("Goldbrook") (TSX VENTURE:GBK) is pleased to announce that it has received the initial funding of $5,400,000 for the 2009 exploration program, from Jilin Jien Nickel Industry Co., Ltd. of Panshi, Jilin, China. This year's exploration program will include over 15,000 metres of diamond drilling in addition to regional mapping programs, geochemical surveys and geophysical surveys. This program will follow-up on the highly successful 2008 program, which resulted in the discovery of extensive nickel sulphides within the Mystery zone. Exploration program funding in 2009, which is planned to be in excess of $15 million dollars, will also test new and positive results from previous geophysical, geochemical and geological work to better define the Ni-Cu-Co-PGE sulphide potential within the company's extensive Raglan nickel belt property holdings.

Other News

Goldbrook previously reported (press release November 24, 2008) that it has received its refund from the Quebec government in the amount of $6,901,182. This refund represents the Quebec corporate tax credits for the Goldbrook fiscal year ended April 30, 2008 relating to exploration expenditures on their Quebec mineral properties.

Goldbrook, in press releases dated from September 3 through November 6, 2008, announced details of its discovery of a new and significant zone of Ni-Cu-Co-PGE sulphides within ultramafic rocks in the western part of the Belanger Trend within the company's extensive landholdings in the Raglan Belt. One drillhole, MYS08-003, intersected 131 metres of sulphide with an average grade of 0.81% Ni, 0.87% Cu, 0.04% Co and 3.01 g/t PGE+Au. Drilling at Mystery appears to confirm a vertical to steeply dipping, mineralized zone varying in thickness form about 10 to 60 m along a strike length of over 150 metres. It is drill tested to a vertical depth of over 300 metres. Continued drilling of this zone in 2009 is planned to better define the extent of the sulphide mineralization zone.

ON BEHALF OF THE BOARD:

Brian Grant, PGeo, President and COO

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

This press release contains "forward-looking information" that is based on Goldbrook's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Goldbrook's mineral discoveries, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect", "anticipate", "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Goldbrook's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related to drilling results; the ability to raise sufficient capital to fund exploration; changes in economic conditions or financial markets; changes in prices for Goldbrook's mineral products or increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters.

This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Goldbrook disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of the content of this press release.

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