New mineralized zone discovered at Gossan’s Bird River property

Gossan Resources Limited has been advised by its Option and Joint Venture Partner, Marathon PGM Corporation (Marathon), that drilling has discovered a parallel zone of low-grade Nickel-Copper and Platinum Group Metals (Ni-Cu-PGM) mineralization on the southern side of the Page Block at its Bird River Property in southeast Manitoba.

Marathon has recently completed a 17-hole drill program on the 7,000-hectare Property and at the Page Block, in the northeast of the Property, 13 holes (2,046 metres) were drilled with a goal of establishing, in conjunction with historic results, an initial resource estimate.

Highlights:

- drill discovery of a new zone of low-grade Ni-Cu-PGM mineralization 225m south of the Page Zone surface projection

- successful test of down dip extension of Page Zone confirms 3D geophysical model

- 8m intersection of Ni-Cu-PGM mineralization grading 0.78% Nickel, 0.26% Copper, and 0.69gpt PGM and Gold in a sulphide lens within hole MP0803 at the Page Zone

- 47.34m interval grading 0.35% Nickel, 0.11% Copper and 0.344gpt PGM and Gold demonstrates the potential for open-pit mining

- nearly continuous mineralization over a thickness of 180m

Phillip Walford, President and CEO of Marathon, said discovery of this new parallel zone is an impressive exploration success.

This new zone gives us a mineralized sequence of at least 180m in thickness in which to develop resources. The results of the drilling to date are very significant for resource development at the Page Block, added Mr. Walford.

Historic and current drilling along the northern side of the Page Block has identified mineralization over an east-west strike length of 500m which gently dips to the south.

Holes MP0804 and MP0805 were collared 225m south of Hole MP0806, which was drilled in the known area of mineralization, in order to test the down-dip extension of the Page Zone and a coincident 3D IP geophysical anomaly.

Both holes confirmed the presence of known Page Zone mineralization down-dip and intersected a newly discovered low-grade parallel zone on surface to the south. These three holes identify a wedge of extensive mineralization - up to 180m thick - that thickens and remains open to the south.

These two holes are also the southern most drilling ever conducted on the Page Block. The total thickness of the new zone is not known since both drill holes were collared in mineralization.