Gossan Resources Limited has successfully completed its previously announced diamond drilling program at its Glitter Property situated on the Sturgeon Lake Greenstone Belt in northwestern Ontario. Gossan identified numerous sulphide-bearing horizons in all three target locations. Based on preliminary core logging, at least six drill holes were found to contain anomalous amounts of sphalerite, the zinc-bearing sulphide mineral mined in the past-producing Sturgeon Lake mines whose stratigraphy extends into Gossan's Glitter Property.

Gossan cautions that these are preliminary results as core assays and definitive results are pending. Gossan is pleased to provide the following preliminary summary of drilling highlights: The main host rocks are andesite and basalt with gabbro intrusions and local lapilli tuffs. Bedded sulphides occur in altered felsic tuffs, crystal tuffs and graphitic felsic tuffs.

Extensive footwall stringer and stock work sulphides and alteration veins occur in all rock types. Holes GL-21-01, 02, and GL-22-03, 04, 05, 08 and 11 intersected the northern target area. They delineate and area of widespread massive and semi-massive sulphide mineralization in up to 4 separate horizons comprising this northern target.

The region contains very extensive footwall style stock work veining similar to footwall veining and stock work under the Lyon Lake and Sturgeon Lake mine deposits, comprised of quartz, calcite, Fe-carbonate, chlorite, biotite, pyrrhotite, magnetite, and tourmaline. The mineralization is associated with extensive faulting and shearing. At least one of the 4 horizons intercepted is now known to host at least some sphalerite mineralization.

Holes GL-22-06, 07 and 09 intercepted the central target area. All holes contained minor sphalerite mineralization associated with sulphides in altered felsic tuffs. Hole GL-22-10 intercepted the lower target area.

A series of felsic tuffs and blue quartz crystal tuffs host the most significant and widespread sphalerite with local chalcopyrite seen in the current program, within laminated, disseminated and semi-massive sulphides of pyrrhotite and pyrite. Drill Hole Highlights: GL-21-01 (434m): Intersected 125 metres of footwall type stringer sulphide mineralization hosted in quartz-calcite-Fe-carbonate-tourmaline veins and stock work. Two minor zones of bedded disseminated to semi-massive sulphides of pyrrhotite and pyrite were also encountered.

Image 3 - Drill core photograph from DDH GL-21-01. Footwall style stringer veining and mineralization cutting through mafic host rocks. Veins are quartz-calcite-Fe-carbonate-chlorite-tourmaline-pyrrhotite-magnetite.

GL-21-02 (302m): Intersected two horizons of 10 and 22 metres with intervals of massive, semi-massive and stringer sulphides comprised of pyrite and pyrrhotite. Footwall style stringer mineralization and alteration veins extend above and below the main sulphide horizons. GL-22-03 (401m): Intersected at least 300 metres of weak to moderate (and locally strong) footwall type stringer sulphide mineralization hosted in quartz, Fe-carbonate, chlorite, tourmaline veins and stockwork.

This hole terminated while still in the footwall zone. GL-22-04 (260m): Intersected a 5.4-metre zone of massive and semi-massive pyrite and pyrrhotite with associated footwall-type stringer sulphides. GL-22-05 (176m): Intersected a 33-metre zone with massive, semi massive and stringer sulphides of pyrite and pyrrhotite, and also footwall-style stringer mineralization.

This hole also intersected several crack-seal style quartz-veins up to 3.1 metres in width with graphite schlieren, pyrite, pyrrhotite and minor sphalerite. GL-22-06 (395m): Intersected two zones of less than 3 metres with disseminated to locally semi- massive sulphides with minor sphalerite and chalcopyrite (zinc-copper). GL-22-07 (347m): Intersected a 16-metre zone of disseminated to semi-massive sulphides of pyrrhotite and pyrite with trace to minor sphalerite throughout the interval.

GL-22-08 (512m): Intersected an extensive zone of sheared, brecciated and altered rock with an upper 2.3-metre massive sulphide lens, a 12-metre middle zone of disseminated to massive sulphides of pyrite and pyrrhotite, and an 8-metre lower zone of massive and semi-massive sulphides in quartz-Fe- carbonate-chlorite-biotite-tourmaline breccia.