GSS Gossan Resources Limited

Gossan Resources Limited (TSX VENTURE:GSS) has optioned the Vermillion Gold
Property which, along with additional ground staked by Gossan, encompasses about
576 hectares. The property is located on the south shoreline of Vermilion Lake
about 26 km west of Sioux Lookout, Ontario.


The property was originally staked in 1928. Historic records indicate a 25-ton
bulk sample was extracted in 1930 by H. Botham and E.K. Mitchell that produced
15.75 ounces of gold or the equivalent of a recovered grade of 0.63 opt (21.60
gpt) gold. A second bulk sample of 18 tons was taken in 1935 that produced 7.076
ounces of gold or a recovered grade of 0.393 opt (13.47 gpt) gold. The latest
reported work was conducted in 1988-89 by Acadia Mineral Ventures who drilled 5
drill holes from lake ice towards the projection of mineralization beneath the
gold showings along the shoreline. The holes intersected altered meta-sediments,
quartz/carbonate alteration, tourmaline stringers, and minor pyrite. Acadia also
drilled 8 other holes in the vicinity. 


The mineralized zone appears to strike N80E, more or less parallel along the
lakeshore, and dips about 70 degrees to the north under the lake. The
mineralized zone appears to be up to 10 feet wide and can be traced along strike
for 150 feet before disappearing under the lake to the west and under overburden
to the east. The host rock for the gold mineralization is a highly sheared and
altered quartz porphyry unit with inclusions of sheared meta-sediments. The
quartz porphyry is in contact, to the north and south, with the Patara
metasediments which include argillites, arkose, greywacke, and conglomerate. The
mineralized quartz porphyry is altered to a quartz-sericite, or talcose, schist
with minor Fuchsite or Mariposite. It is variably mineralized, with 10-15%
disseminated pyrite, chalcopyrite and minor arsenopyrite and/or galena.


Gossan intends to conduct a limited surface program at the Vermillion Gold
Property followed by a drill program to extend exploration at depth, if
warranted. Any drilling would be conducted during the winter on the ice offshore
of the mineralized zone.


Under the terms of the option agreement, Gossan must make a series of payments
totalling $56,000 through to May 15, 2015. The property is also subject to work
commitments totalling $75,000 and a 2.0% NSR of which 1.0% is re-purchasable by
Gossan for $1,000,000.


MaryAnn Mihychuk, P.Geo. is the Company's Qualified Person and she has reviewed
and approved the technical contents of this news release.


Gossan Resources Limited is engaged in mineral exploration and development in
Manitoba and northwestern Ontario. It has a well-diversified portfolio of
properties hosting gold, platinum group and base metals, as well as the
specialty and minor metals, tantalum, lithium, chromium, titanium and vanadium.
The Company also has a large deposit of magnesium-rich dolomite, the world-wide
rights to the Zuliani magnesium production process, and a silica sand deposit.
Gossan trades on the TSX Venture Exchange and has 29,277,900 common shares
outstanding.


For further information, please bookmark www.gossan.ca.

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