Gold Reach Intersects Significant Widths of Copper Mineralization


January 23, 2006

Gold Reach Intersects Significant Widths of Copper Mineralization

Vancouver, BC, January 23, 2006 . . . Gold Reach Resources Ltd. (TSXV:GRH) and Consolidated Abaddon Resources Inc. (TSXV:ABN) have released the first batch of results from the December 2005 phase of a 3,000 – 4,000 metre drill program on the Seel Property, Central B.C. Complete assays have been received for 3 holes plus partial assays for Hole S05-22. From these assays we note the following highlights.

Hole S05-20 intersected 206.6 metres grading 0.20 per cent Cu and 0.07 g/t Au from 38.5 metres to the end of the hole at 245.1 metres. The hole ended in mineralization and mineralization remains open from the west to the southeast.

Hole S05-22 is 725 metres northeast of Hole S05-20 and intersected 12.2 metres grading 0.52 per cent Cu and 0.92 gram per tonne (g/t) Au from 73.6 - 85.8 metres depth. Assay results have been received for drill core samples to a depth of 87.0 metres. Sample intervals from 87.0 metres to the end of the hole are in the lab and are pending. Hole S05-22 is located 155 metres SE of hole S05-08 which intersected 102.1 metres grading 0.44 per cent Cu, 0.48 gram per tonne Au (as reported in Stockwatch Feb. 10, 2005). Hole S05-22 was the only drill hole in the December 2005 phase of the drill program to test the extent of the NE Cu-Au mineralized Zone.

A total of 5 holes, 1,250 metres, were drilled in December of 2005 with assays from approximately 900 metres reported in this press release. The drill rig has recently completed Hole S06-27 and has drilled 1,100 metres since the January 2006 start-up. In this drill program (Dec. 2005 and Jan. 2006) a total of 2,350 m has been drilled with sample assays received from 38% of the to-date drilled core. The samples from Hole S05-21 in entirety and the bottom 113 metres of Hole S05-22 are in the lab with analyses pending. Listed below is a table summarizing the sample assay intervals from the first batch of results.

 

 

 

Sample Interval

 

 

 

 

Hole

Length

Overburden

From

To

Length

CU%

Au g/t

Mo%

Ag g/T

S05-18

256.03

9.1

9.1

140.8

131.7

0.14

0.09

0.01

3.45

S05-19

306.93

11.3

166.5

240.1

73.6

0.19

0.08

0.01

2.83

S05-20

245.10

6.1

38.5

245.1

206.6

0.20

0.07

0.01

4.07

S05-22*

200.25

50.3

73.6

85.8

12.2

0.52

0.92

0.00

2.68

*Partial results posted - Hole S05-22 samples from 87.0 metres to the end-of-hole at 200.25 metres are still pending
** All lengths are in metres

All the holes to date in the January 2006 phase of the drill program (holes S06-23 to S06-27) have been spotted to test the extent of the NE Cu-Au mineralized Zone. The 2006 phase of the drill program will continue to focus within the 4 km long by 1.5 km wide chargeability anomaly delineated by the 2005 summer 3-D Induced Polarization geophysical survey and in the vicinity of zones of known mineralization (as reported in an October 17, 2005 news release).

The first batch of results, reported in this press release, represent all the samples that were processed in the field before the project was placed on hiatus for the Christmas break. At that juncture there was insufficient time to process Hole S05-21 in entirety and Hole S05-22 from 87.0 metres to the end of the hole at 200.25 metres before the break. These intervals were logged, split and sent to the assay lab when the drill program recommenced in January. The diamond drill holes were drilled NQ diameter and half-core samples were sent to the Acme Analytical Labs facility in Vancouver, B.C., for sample preparation and analysis. All samples underwent multielement analysis by ICP/MS with continuous sampled sections additionally assayed for copper. The drill program on the Seel property is under the supervision of Peter Daubeny, PGeo, a qualified person under National Instrument 43-101.

Location maps and figures displaying the updated drill collar locations and current geophysical model can be found on our website: www.goldreachresources.com

For further information, please contact:
Gold Reach Resources Ltd.
Conrad Swanson - President – (604-718-5454)