VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 20, 2007) - Goldrush Resources Ltd. (TSX VENTURE:GOD) -
Goldrush Resources Ltd. ("Goldrush" or "the Company") is pleased to announce that, further to the Company's news release of October 31, 2007 the Company has closed a non-brokered private placement of 100,000 units of its securities for gross proceeds of $31,000. Each unit is priced at $0.31 per unit and is comprised of one common share and one common share purchase warrant entitling the holder to purchase one additional share at a price of $0.38 until December 14, 2008. The warrants will be subject to a forced conversion provision if the common shares of Goldrush close at greater than $0.50 per share for 20 consecutive trading days ("the Trading Days"). The warrant holders will be required to exercise the warrants within 30 days, commencing 3 business days after the twentieth Trading Day. Securities issued pursuant to the private placement will be subject to a hold period which expires on April 14, 2008. No Finder's fee has been paid in connection with this placement.
Exhibition at Vancouver Resource Investment Conference
Goldrush Resources Ltd. will be exhibiting at the Cambridge House Vancouver Resource Investment Conference, January 20-21, 2008 at the Vancouver Convention & Exhibition Centre. Shareholders are invited to attend the Company's booth to meet with management and to discuss 2007 exploration results and the Company's very ambitious 2008 exploration plan.
About Goldrush: Goldrush is a mineral exploration company focused on gold exploration in Burkina Faso, West Africa with an established organization of people and projects to enable aggressive growth. Through a strategic alliance with High RiverGold Mines Ltd. Goldrush can utilize High River's processing facilities and infrastructure without incurring all the capital costs associated with developing a standalone mine, thereby enhancing Goldrush's gold discoveries within trucking distance of the processing facility.
ON BEHALF OF THE BOARD OF DIRECTORS,
GOLDRUSH RESOURCES LTD.
Len Brownlie - President
FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Goldrush Resources Ltd.
Vice-President Corporate Development
Goldrush Resources Ltd.
(604) 681-5910 (FAX)