Galore Resources drills 294 m of 0.23% CuEq at Taseko


Galore Resources Inc (C:GRI)
Shares Issued 34,328,830
Last Close 10/14/2008 $0.095
Wednesday October 15 2008 - News Release

Mr. Michael Byrne reports

GALORE REPORTS 294 METRES OF 0.230% COPPER EQUIVALENT AT TASEKO PROJECT

Galore Resources Inc. is releasing further drill results from its $3-million-plus Taseko project exploration program in southwest British Columbia. Results have been received for diamond drill holes located at the Hub and Northwest Copper targets. Drill testing has been completed for several targets located on the company's 100-per-cent-owned, 48,000-hectare Taseko project southwest of Williams Lake, B.C.

Drill testing of the Hub porphyry copper-molybdenum target continues to generate encouraging results. The Hub prospect is located approximately 20 kilometres south of Taseko mine's Prosperity project, which is reported to be one of Canada's largest undeveloped copper-gold deposits. Complete analyses have been received for holes 08TSK-04 and 08TSK-06 located at the Hub prospect. Both holes were drilled at azimuth of 320 degrees and an angle of minus 65 degrees. Diamond drill hole 08TSK-04 is located 277 metres northwest of diamond drill hole 08TSK-3, which was reported previously. Hole 08TSK-04 is mineralized over its entire length of 322 metres, and averages 0.099 per cent copper (Cu) and 0.0081 per cent molybdenum (Mo) (0.174 per cent copper equivalent (CuEq)) over 316 metres. This includes five intervals ranging from 0.194 per cent to 0.433 per cent copper equivalent. The mineralization is primarily hosted by altered volcanic rocks.

Diamond drill hole 08TSK-06 is located 88 metres southeast of hole 08TSK-03, and is also mineralized over its entire length and ends in mineralization at 305 metres. The hole averages 0.140 per cent copper and 0.0097 per cent molybdenum (0.230 per cent copper equivalent) over 294 metres. Significant intervals include 42.2 metres of 0.259 per cent copper equivalent, 98.8 metres of 0.273 per cent copper equivalent and 41.5 metres of 0.221 per cent copper equivalent. The best intercept returned 10.5 metres of 0.137 per cent copper and 0.0342 per cent molybdenum (0.454 per cent copper equivalent). Mineralization at the Hub prospect is hosted by a strong, quartz-sulphide stockwork, with copper and molybdenum sulphide concentrations over the entire length of the holes. The mineralization is hosted by altered multiphase intrusive and volcanic rocks, and is open at depth.

SIGNIFICANT ANALYTICAL RESULTS



Hole From (m) To (m) Interval (m) Cu (%) Mo (%) CuEq (%)



08TSK-04 hole average 6.1 322.5 316.4 0.099 0.0081 0.174

08TSK-04 10.6 14.6 4.0 0.119 0.0339 0.433

08TSK-04 29.8 50.2 20.4 0.141 0.0098 0.231

08TSK-04 81.7 122.8 41.1 0.120 0.0080 0.194

08TSK-04 148.7 177.7 29.0 0.143 0.0068 0.206

08TSK-04 including 150.2 157.9 7.7 0.220 0.0121 0.332

08TSK-04 211.2 247.8 36.6 0.128 0.0079 0.202

08TSK-06 hole average 9.3 304.8 294 0.140 0.0097 0.230

08TSK-06 44.3 86.5 42.2 0.146 0.0122 0.259

08TSK-06 89.5 100.0 10.5 0.137 0.0342 0.454

08TSK-06 104.0 202.8 98.8 0.188 0.0091 0.273

08TSK-06 including 108.0 132.8 24.8 0.206 0.0083 0.282

08TSK-06 and 152.3 173.3 21.0 0.269 0.0107 0.368

08TSK-06 and 187.8 202.8 15.0 0.169 0.0099 0.261

08TSK-06 222.8 264.3 41.5 0.153 0.0073 0.221

Note that the analyses were converted to percentages from analyses reported in parts per million. Copper equivalent is an approximate equivalent copper concentration, calculated from copper concentration plus the value of molybdenum concentration (dollars of molybdenum trioxide (MoO3) divided by 1.5 equals dollars molybdenum), converted to copper concentration of equivalent value, using current metal prices, and equals copper per cent plus molybdenum per cent times (22.20 divided by 2.40). The copper equivalents are presented to permit comparison with analyses reported from other porphyry copper drill projects but do not consider beneficiation and smelter losses, which have not been determined.


Results have also been received for diamond drill hole 08TSK-05, located at the Northwest Copper prospect. This hole was drilled to 310 metres on the Northwest Copper target, and tested a strong alteration zone and magnetic anomaly associated with copper and silver vein mineralization. Anomalous copper concentrations were reported over 297 metres, but no concentrations were of economic interest.

In addition to the Hub and Northwest Copper prospects, this year's program included drilling the Mad Major copper-molybdenum prospect, the Syndicate copper-gold prospect and the Spokane copper-gold prospect. Results are pending for these drill holes.

Mexico

Galore recently announced in Stockwatch the expansion to 12,000 hectares of its 100-per-cent-owned Mexico Dos Santos gold property, which now lies adjacent to the northern claim boundary of Canplats Resources' Camino Rojo gold property. Galore's property is located in the historic Concepcion del Oro mining district approximately 35 kilometres southeast of Goldcorp's Penasquito mine. Recent samples from the Dos Santos property included gold analyses ranging up to 6,542 parts per billion (6.5 grams per tonne) gold. Additional 403 rock samples from surface bedrock trenches have been received at the laboratory, with analyses expected in late October.

Uwe Schmidt, PGeo, vice-president, exploration, and Galore's qualified person as defined by Canada's National Instrument 43-101, is responsible for supervising the Taseko project and has verified the technical data in this release.

© 2008 Canjex Publishing Ltd.