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November19, 2007
NEWS RELEASE - #07-10
TSX- V: GRR
2007 EXPLORATION PROGRAM UPDATE - BUTARNI PROPERTY, FAR EAST RUSSIA
Golden Reign Resources Ltd. (the “Company”)(TSXV: GRR) is pleased to report on progress at its Butarni
property, including assay results from samples collected during a recent property visit. The Butarni property,
located in the Magadan Region of Far East Russia, covers an area of 9.3 square kilometres.
The primary target of the 2007 exploration program was a known gold bearing area in the SW portion of the
intrusive body, referred to as Zone 1. Two trenches, numbered 5 and 6, spaced 450 metres apart, and covering an
aggregate 940 metres were completed. A significant weathered zone, measuring approximately 1,000 metres in
length by 600 metres in width, with a projected depth of 25 metres, has been exposed. This weathered zone hosts
intensely altered intervals up to 25 metres in width, containing a series of mineralized quartz veins. The altered
intervals, believed also to contain disseminated gold mineralization, were sampled during the 2007 program.
Initial results are presented in the table below.
Two one-metre continuous channel samples and two grab samples were submitted to Alex Stewart Geo.
Analytical Ltd. in Moscow as part of a check assay procedure. The channel samples, collected from Trench 5
using the hammer and chisel method, returned the following assay values:
No.
Sample
Number
1
B-3/07
Trench 5
One-metre
channel sample
(from 59-60m)
Intense altered interval within the
weathered zone containing 6 to 7
quartz veins, with sulphide
mineralization.
8.63
2
B-6/07
Trench 5
One-metre
channel sample
(from 60-61 m)
Interval contains 5 quartz veins
(max. width 25cm). Intense
sulphide mineralization within the
quartz veins.
16.11
Location
Type
Description
Grade
Au (g/t)
The channel samples (from 59m to 61m) graded 8.63 g/t and 16.11 g/t gold, averaging 12.37 g/t gold over two
metres.
Encouraged with its early findings, the Company expanded the trenching program and excavated an additional
1,000 metres across four trenches (Trenches 1 to 4). In all, a total of six trenches, approximately 100-150 metres
apart, were excavated and sampled via one-metre channel samples across their entire lengths. Testing of the
newly exposed weathered zone will continue throughout 2008.
Gold mineralization within Zone 1 was previously identified by both private and Russian government companies;
however, earlier sampling, trenching and drilling programs were restricted solely to high grade quartz veins.
Testing of the host rock and intervals with narrow veins was not completed. Historical grab and channel sampling
of these quartz veins returned values ranging from 1 g/t to 334.4 g/t Au, with an average grade of 21.3 g/t gold
from 45 grab samples and 29.6 g/t gold from 22 channel samples. The combination of a large tonnage of
mineralized rock and the gold grades from historical sampling suggest potential for discovery of an open-pittable
gold deposit.
The two grab samples, B-1/07 and B-5/07, collected from granite and metamorphosed sediments returned 0.39 g/t
and 0.27 g/t gold, respectively. The presence of gold mineralization within the sediments demonstrates that gold
mineralization is not restricted to the granite stock as previously assumed.
Samples collected during the 2007 exploration program included approximately 990 one-metre channel samples,
25 grab samples and 1,010 geochemical samples. The bulk of the samples collected during the 2007 exploration
program at Butarni are being assayed at the Magadangeology laboratory located in Magadan City. Assays are
pending and will be released as they become available.
Qualified Person
John M. Kowalchuk, P.Geo, an independent geologist and qualified person (as defined under NI 43-101) has
reviewed the technical information contained in this news release.
About Magadan
The Magadan Region is considered one of the world’s richest mining areas, with gold being the main resource of
the region. There are approximately 2,000 placer gold deposits, 100 gold ore deposits and 48 silver deposits.
Total probable gold reserves in the Magadan Oblast are estimated at 4,000 tons (128,000,000 ounces) (source:
Kommersant).
About Golden Reign:
Golden Reign Resources Ltd. is a publicly listed (TSX-V: GRR) mineral exploration company engaged in the
business of exploring and developing a portfolio of precious metals and mineral assets in Far East Russia and
Canada.
On August 23, 2007, the TSX Venture Exchange accepted for filing the formal agreement dated June 8, 2007
between the Company and Status LLC (“Status”), the mining division of CentroCredit Bank of Moscow, pursuant
to which the Golden Reign has a right to acquire up to a 50% equity interest in Gold Mining Corporation LLC
(“GMC”) by incurring aggregate exploration expenditures totalling US$6,000,000 over a three-year period. GMC
is a private Russian company jointly formed by Status and the Company to hold the 20-year comprehensive
exploration-mining licences for the Butarni and Dorozhni mineral properties, both of which are located in the
Magadan Region of Far East Russia.
For additional information please visit our website at www.goldenreign.com and SEDAR www.sedar.com.
On behalf of the Board,
“Kim Evans”
Ms. Kim Evans, CGA
Director & CFO
Forward-Looking Statements: Some of the statements contained herein may be forward-looking statements which involve
known and unknown risks and uncertainties. Such forward-looking statements are subject to a variety of risks and
uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking
statements, including, without limitation, risks and uncertainties relating to political risks involving the Company’s
exploration and development of mineral properties interests in Russia, the inherent uncertainty of cost estimates and the
potential for unexpected costs and expenses, commodity price fluctuations, the inability or failure to obtain adequate
financing on a timely basis and other risks and uncertainties. Such information contained herein represents management’s
best judgment as of the date hereof, based on information currently available.
The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of this news release.