Goldrush Applies to Amend Warrants
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/05/12 -- Goldrush Resources Ltd. (TSX VENTURE: GOD)(OTCQX: GDRRF) ('Goldrush' or the 'Company') wishes to announce that it will apply to the TSX Venture Exchange (the 'Exchange') for acceptance to amend the terms of an aggregate of 10,000,000 common share purchase warrants (the 'Warrants') issued pursuant to a non-brokered private placement (the 'Private Placement') which closed on March 12, 2010. The Warrants originally issued are exercisable into common shares in the capital of the Company at an exercise price of $0.20 per common share until March 12, 2012. These Warrants will be amended by reducing the exercise price of the Warrants from $0.20 to $0.16 per common share issued upon exercise of the Warrants and extending the expiry date of the Warrants for approximately three weeks to March 31, 2012. No Warrants issued under the Private Placement have been exercised to date. The amendments to the terms of the Warrants are subject to Exchange approval.
For further information on Goldrush Resources Ltd., shareholders and other interested parties are invited to visit the Company's website at www.goldrushresources.ca.
ON BEHALF OF THE BOARD OF DIRECTORS,
GOLDRUSH RESOURCES LTD.
Len Brownlie - President and Chief Executive Officer
About Goldrush: Goldrush is a Canadian mineral exploration company which has successfully focused on gold exploration in West Africa, where the company has discovered, and is currently expanding and defining the 249,000 ounce (inferred resource of 5.9 million tones at a grade of 1.31 g/t Au) Ronguen gold deposit in Burkina Faso.
FORWARD-LOOKING STATEMENTS: This news release contains certain 'forward-looking statements' within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of historical fact relating to the company, certain information contained herein constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as 'plan,' 'expect,' 'project,' 'intend,' 'believe,' 'anticipate', 'estimate' and other similar words, or statements that certain events or conditions 'may' or 'will' occur. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Goldrush Resources Ltd.
Don Willoughby
VP Corporate Development
info@goldrushresources.ca
www.goldrushresources.ca
