Gossan Resources Limited is a rapidly emerging player in the multi-billion dollar

resource arena. Although the Company is over 20-years old, recent developments have

now placed Gossan on the radar screen once again. The Company is currently focused on

its three precious metals properties. The

The

Angelina Gold Project, located 27 km southeast

of Bissett, Manitoba, within the Rice Lake Greenstone belt, host to successful pastproducing

gold mines that produced 1.7 million ounces. Recently, the area around the

Angelina property has been abuzz with significant activity and extensive staking. Giant

Placer Dome has optioned the adjacent properties and made a significant financial

commitment to exploration. A local 1,200 ton-per-day gold mill is also in the process of

re-opening. Exploration on the 2,313-hectare Angelina property has concentrated on a

30-hectare section, which has returned grab samples with values of gold in excess of 42

g/t (1.2 oz/t). Two major shear systems up to 1 km in width and extending along strike in

excess of 2 km have been identified. Fugro Airborne Surveys have been retained to

perform an airborne, high-density, low-level magnetic and electromagnetic survey and

follow-up geochem is scheduled for March with drilling thereafter. Gossan has recently

acquired three additional properties totaling 1749 hectares also within the Rice Lake

Greenstone belt; exploration work programs are anticipated

,