Galore drills 21 m of 1.72% Cu at Taseko

Galore Resources Inc (C:GRI)
Shares Issued 38,028,830
Last Close 11/25/2008 $0.025
Thursday November 27 2008 - News Release

Mr. Ray Torresan reports

GALORE REPORTS ADDITIONAL DRILL RESULTS FROM TASEKO PROJECT, INCLUDING 1.72% COPPER OVER 21 METRES

Galore Resources Inc. has released further drill results from the $3-million program at its Taseko project, located southwest of Williams Lake, B.C. Additional results have been received for diamond drill holes located at the Hub, Syndicate, Mad Major and Spokane targets.

"We are very pleased with the assay results. With every hole recording significant intervals of copper and molybdenum, it's clear that each of these large targets is in a strongly mineralized area. We are especially impressed with the results from the Spokane target, where hole 08STK-12 returned impressive copper and significant molybdenum, gold and silver values, as well," said company president, Michael Byrne.

Spokane target

One drill hole tested quartz-chalcopyrite-pyrite veins exposed in existing trenches. Hole 08STK-12 averages of 0.269% Cu and 0.0018% Mo over the entire hole length of 151.9 metres. The strongest mineralized zone returned 21 metres of 1.719% Cu, 0.0040 % Mo, 0.317 gm/tonne Au and 18.3 gm/tonne Ag. This interval includes two intercepts that returned 9 metres of 0.599% Cu, 0.0029% Mo, 0.035 gm/tonne Au and 2.0 gm/tonne Ag and 9.9 metres of 3.102% Cu, 0.0057% Mo, 0.511 gm/tonne Au and 32.9 gm/tonne Ag.

Hub porphyry copper-molybdenum target

Two additional drill holes on the Hub porphyry copper-molybdenum (Cu-Mo) target intersected mineralization. The Hub prospect is located approximately 20 kilometres south of Taseko Mine Limited's Prosperity project, which is reported to be one of Canada's largest undeveloped copper-gold deposits. A total of seven diamond drill holes were drilled at the Hub prospect in 2008.

Diamond drill hole 08TSK-07 was drilled on section of previous holes at the same location as 08TSK-06, but was drilled in a southerly direction, at -65 degrees and 140 degrees azimuth. This hole tested a magnetic low within the larger magnetic anomaly, which defines the Hub target. The hole is weakly mineralized over its entire length and averages 0.0420 % Cu and 0.009% Mo over 287 metres. The best intervals, returned 0.130% Cu and 0.0175% Mo over 11.2 metres from 39.0 to 50.2 metres and 0.0509% Mo over 7.7 metres from 148.7 to 156.4 metres.

Hole 08TSK-08 is a step-out hole located 138 metres northeast of previously announced hole 08TSK-03. Hole, 08TSK-08 tested the same magnetic feature as hole 08TSK-03. The hole intersected strongly, magnetite-biotite-altered and fractured andesite with mineralization over the entire length of the hole with grades increasing at the bottom of the hole. The entire hole averages 0.091% Cu and 0.0056% Mo over 210.3 metres. The

1 best assay intervals returned 16.2 metres of 0.120% Cu and 0.0037% Mo and 74.7 metres of 0.111% Cu and 0.0082% Mo, including 16.8 metres of 0.150% Cu and 0.0100% Mo at the bottom of the hole.

Mineralization at the Hub prospect is hosted by strong, quartz-sulphide stockwork, with copper and molybdenum sulphide concentrations over the entire length of the holes. The mineralization is hosted by altered, multi-phase intrusive and volcanic rocks and is open in all directions and depth. The magnetic anomaly, interpreted as outlining this porphyry system covers an area of approximately two by three kilometres.

Syndicate target

The Syndicate prospect is a copper-gold showing associated with a hydrothermal breccia. Mineralization extends over an area approximately 1 kilometre by 1 kilometre with selective rock samples consistently averaging between 0.2 1% Cu and 0.1 1.7g/t Au. The mineralization has been shown to extend beyond the hydrothermal breccia body into the surrounding quartz monzonite host rocks. The most intense alteration and mineralization is associated with the breccia zone This target was tested by two drill holes.

Diamond drill hole 08TSK-09, drilled in a northwesterly direction, averaged 0.068% Cu and 0.0096% Mo over the entire 200-metre hole length. This included the following intervals: 58.5 metres of 0.151% Cu and 0.0305% Mo, including 7.2 metres 0.279% Cu and 0.0447 % Mo; and 19.8 metres of 0.179% Cu and 0.040 % Mo, including 9.1 metres of 0.233% Cu and 0.025 % Mo.

The second hole, 08TSK-11 was drilled in a southwesterly direction. This hole averaged 0.095% Cu and 0.0044 % Mo over the entire hole length of 273.8 metres. Higher-grade intervals averaged 0.357 % Cu, 0.0218%Mo, 0.14 gm/tonne gold (Au) and 2.6 gm/tonne silver (Ag) over 22 metres and 0.519% Cu, 0.118% Mo, 0.565 gm/tonne Au and 8.9 gm/tonne Ag over 21 metres.

Mad Major target

The Mad Major target is a large copper-in-soil geochemical anomaly. The surface mineralization in the area is hosted by structurally controlled, sheeted quartz veins, developed in granodiorite. Hole 08TSK-10 intersected mineralized fractures and veins containing chalcopyrite, pyrite, molybdenite and chalcocite. The hole averages 0.117% Cu and 0.0045% Mo over 224.2 metres with individual sample intervals ranging from 0.031% Cu to 0.420 % Cu over 1.5 metres. Over longer intervals the analyses include 42 metres of 0.137% Cu and 0.0014% Mo and 57 metres of 0.166% Cu and 0.0120% Mo.

                                                                                      

 

                           SIGNIFICANT ANALYTICAL RESULTS

  Hole                         From(m)    To(m)   Interval (m)   Cu %    Mo %     Au gm/tonne   Ag gm/tonne

               Hub target

08TSK-07      Hole Average        5        292        287        0.042   0.0090

08TSK-07       Including          39       50.2       11.2       0.130   0.0175

08TSK-07       Including        148.7     156.4       7.7        0.026   0.0509



08TSK-08      Hole Average        5.5     215.8      210.3       0.091   0.0056

08TSK-08       Including         62.4     78.6       16.2        0.120   0.0037



08TSK-08          and           141.1     215.8       74.7       0.111   0.0082

08TSK-08       Including         199      215.8       16.8       0.150   0.0100



            Syndicate Target



08TSK-09      Hole Average        3.5     203.6      200.1       0.068   0.0096

08TSK-09                         32.3     90.8       58.5        0.151   0.0305

08TSK-09

08TSK-09       Including         53.1      60.3       7.2        0.279   0.0447

08TSK-09

08TSK-09          and            71.0      90.8       19.8       0.179   0.0402

08TSK-09       Including         81.7      90.8       9.1        0.233   0.0254





08TSK-11      Hole Average       3.0      276.8      273.8       0.095   0.0044

08TSK-11       Including        77.0      99.0        22         0.357   0.0218      0.140          2.6

08TSK-11          and           180.5     201.5       21         0.519   0.0118      0.565          8.9



           Mad Major target



08TSK-10      Hole Average       6.1      230.3      224.2       0.117   0.0045

08TSK-10       Including          13       56.5       42         0.137   0.0014

08TSK-10          and            73        83.5      10.5        0.125   0.0003

08TSK-10          and           114.5     171.5       57         0.166   0.0120

08TSK-10          and            180       192        12         0.110   0.0011

08TSK-10          and           202.5      217       14.5        0.122   0.0065



             Spokane target



08TSK-12      Hole Average        3.0     154.9      151.9       0.269   0.0018

08TSK-12                         20.7     41.7       21.0        1.719   0.0040      0.317         18.3

08TSK-12       Including         20.7     29.7        9.0        0.599   0.0029      0.035         2.0

08TSK-12     and including       31.8     41.7        9.9        3.102   0.0057      0.511         32.9

08TSK-12

08TSK-12          also           50.5      56.5       6.0        0.145   0.0057      0.006          2.4

08TSK-12

08TSK-12          and            68.5      73.8       5.3        0.550   0.0076      0.233          1.0

*Note: Copper and molybdenum analyses in this table were converted to % from analyses reported in parts per million (ppm) and gold and silver analyses were converted to gm/tonne from parts per billion (ppb).

Work on the 48,000-hectare Taseko property was completed on October 8, 2008. Seventeen targets were explored during the 2008 field season and five of these were drill tested. Consultants are currently compiling and interpreting all the field data.

Uwe Schmidt, P.Geo., 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.