Gold Reach Announces Proceeds of $ 400,000 From Warrant Exercise Monies to be used for January Drill Program
December 4, 2006
Vancouver, British Columbia: Gold Reach Resources Ltd. (GRH: TSX-V) ("Gold Reach" or the "Company") announces that proceeds from the exercise of various warrants has netted the company an estimated $ 400,000 (four hundred thousand dollars).
A contract to commence drilling on the Seel property is in place for January 10th. 2007 and the proceeds will be used to assist with the capital expenditures associated with this program.
Gold Reach Resources is a Canadian exploration company actively involved in the development of the Seel Property, a 8.466 hectare copper-gold–silver molybdenum property located 120 kms south of Houston, British Columbia and 8 km to the east of the producing copper-gold-molybdenum Huckleberry Mine.
At the completion of the last drill program a total of 47 holes (10,000 metres to date) have been drilled on the Seel Property by the Company with the majority of the holes intersecting widths of mineralization. Gold Reach Resources holds a 90% interest in the Seel Property with Consolidated Abaddon Resources holding the remaining 10%.
ON BEHALF OF THE BOARD OF DIRECTORS
Conrad Swanson, President
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