Gossan Resources Ltd GSS

Shares issued 15,261,124 Jul 27 2004 close $ 0.36

Friday August 6 2004 News Release

Mr. Patrick Holden reports

DRILL RESULTS FROM GOSSAN'S ANGELINA GOLD PROPERTY

Gossan Resources Ltd. has received the results of the recent drilling of the Discovery

zone on the Angelina property and the initial findings of a summer field program

conducted over much of the property. Three new areas of interest were identified and

high-grade mineralization was confirmed at the recently acquired Macketta showing. The

Angelina property is located 27 kilometres southeast of Bissett, Man.

Gossan found the results obtained on surface at the Discovery zone were echoed in two

of seven diamond drill holes. At 14 metres, hole ANG-04-01 intersected one metre

grading 3.4 grams per tonne gold and at 16.2 metres, hole ANG-04-05 intersected 4.2

metres with an average grade of 1.9 grams per tonne. Three reconnaissance holes

undertaken just west of the Discovery zone provided valuable geological and structural

information, but did not encounter any significant mineralization.

The summer field program of geological mapping and rock sampling located three new

zones of interest in the southwest of the Angelina claim group. The first zone returned an

assay of 13.9 grams per tonne gold in a grab sample, the second 43.7 grams per tonne in a

one-metre chip sample, and the third returned 1.4 grams per tonne gold with 2.1 per cent

copper and 0.5 per cent titanium in a grab sample associated with a long linear magnetic

anomaly. In addition, the three grab samples taken at the adjacent Macketta showing

verified the anomalous gold values previously reported with assays ranging from 31

grams per tonne to 205.7 grams per tonne gold. P. Fulton-Regula, MSc, geology, PGeo,

is the qualified supervising person on this project.

The Angelina gold property totals 2,486 hectares. A total of 833 geochemical samples

have been taken at 25-metre intervals transecting the property. The results of this

sampling are still pending and will be used in conjunction with the summer mapping

results to define further areas of work and drill targets.