Goldcrest Resources Ltd. Reports Further Positive Drilling Results from Its Gaoua Copper-Gold Project in Burkina Faso, West Africa



    TORONTO, Sept. 20 /CNW/ - Goldcrest Resources Ltd. ("Goldcrest", "the
Company"), (GCL-TSX.V) is pleased to announce continuing success from the
current diamond drilling program at its Gaoua copper-gold project in southern
Burkina Faso, West Africa.
    Assay results have been received from three more holes drilled on the
Gongondy target (S31 to S33GON/07) and five holes (S63 and 64DIE/07,
S69-71DIE/07) drilled on the Dienemera target (see
http://files.newswire.ca/329/Figure_1.doc). The program commenced in April
(see News Release of 5 April, 2007) with the objective to test several targets
for copper-gold porphyry style mineralization in two main areas; Gongondy, in
the Souhouera property, and Dienemera-Mont Biri, in the Malba property.
    The drill holes and assay results at both Gongondy and Dienemera confirm
the presence of copper-gold mineralization hosted by hydrothermal breccia,
which show porphyry copper characteristics. The results obtained from three
holes in Gongondy confirm the extension of the mineralization, as identified
by previous holes, to the west. Highlights include 116m @ 0.37%Cu and 0.25g/t
Au (S32GON, this hole bottomed in mineralization), including 23m @ 0.79%Cu and
0.45g/t Au and 26m @ 0.75%Cu and 1.11g/t Au (S33GON).
    The results obtained from the holes in Dienemera confirm the presence of
wide mineralized intervals, while a new prospective area has been identified
by a hole (S71DIE) designed to test a coinciding geochemical-ground magnetic
anomaly. Best intercepts include 122m @ 0.56%Cu and 0.26g/t Au (S64DIE), 61m @
0.44%Cu and 0.19g/t Au (S69DIE).

    Significant drill intercepts from this program are listed in the table
below.

    
    Table 1. Main Cu-Au Intercepts.

    -------------------------------------------------------------------------
                                                                     Maximum
    TARGET             FROM(*)          INTERVAL(*)                 Internal
     AREA    HOLE Nb.    (m)   TO(*)(m)    (m)      Cu %  Au (g/t)  Dilution
                                                                      (m)(*)
    -------------------------------------------------------------------------
    Gongondy   S31GON     98      102        4      0.48    0.43        1
             ----------------------------------------------------------------
               S32GON    184      300      116      0.37    0.25       18
                      -------------------------------------------------------
                      INCL. 184   213       29      0.34    0.26        2
                      -------------------------------------------------------
                      INCL. 230  248.55   18.55     0.58    0.34        1
                      -------------------------------------------------------
                      INCL. 277   300       23      0.79    0.45        3
             ----------------------------------------------------------------
               S33GON     20       46       26      0.75    1.11        1
                      -------------------------------------------------------
                         256      262        6      0.31    0.30        2
                      -------------------------------------------------------
                         282      288        6      0.37    0.30        2
    -------------------------------------------------------------------------
    Dienemera  S63DIE    194      211       17      0.42    0.20        2
                      -------------------------------------------------------
                         247      261       14      0.43    0.13        3
             ----------------------------------------------------------------
               S64DIE      2      124      122      0.56    0.26        5
                      -------------------------------------------------------
                       INCL. 4     17       13      0.71    0.27        0
                      -------------------------------------------------------
                       INCL. 40    69       29      0.71    0.29        1
                      -------------------------------------------------------
                       INCL. 83   124       41      0.64    0.34        2
             ----------------------------------------------------------------
               S69DIE      0       61       61      0.44    0.19        9
             ----------------------------------------------------------------
               S70DIE     95      104        9      0.40    0.11        1
                      -------------------------------------------------------
                         177      182        5      0.55    0.16        1
                      -------------------------------------------------------
                         215      219        4      0.31    0.15        1
                      -------------------------------------------------------
                         230      237        7      0.45    0.16        2
             ----------------------------------------------------------------
               S71DIE     98      102        4      0.48    0.43        1
    -------------------------------------------------------------------------
    (*) core length-not true width.
    

    The above intersections are based on a 0.3% Cu cut-off with no top cut
applied. Internal dilution (less than 0.3 % Cu) has been carried out to a
maximum of 3m except for the wider (+50m) intervals, where the maximum
internal dilution is 18m (259 to 277m) in hole S32GON/07, 5m (23-28m) in
S64DIE/07 and 9m (39-48m) in S69DIE/07.
    The above assay results were obtained on HQ and some NQ sized core
sampled at one metre intervals, on average (the visually less mineralized
intervals were sampled at 2m intervals), and cut in half using a diamond saw.
One-half of the core was archived at the core storage facility on site while
the other half was sent to Abilab Burkina S.A.R.L, Ouagadougou/Burkina Faso
(subsidiary of ALS Laboratory Group) for standard preparation (crushing,
pulverization, split) and gold fire assay on 50g charge. Copper was assayed by
atomic absorption at the ABILAB facilities in Bamako/Mali, while multi-element
analysis, aimed at characterizing the mineralization, is being carried out by
ICP-MS by the ALS Laboratory Group in the Republic of South Africa (results
pending). The accuracy of the results was tested through the systematic
inclusion of standards (Ore Research and Exploration, Australia, (OREAS) Cu-Au
and OREAS multi-element standards) and field blanks. Standards were inserted
every 25 samples and blanks every 30 samples. From a QA/QC perspective, the
initial review of results suggests this is a satisfactory and reliable data
set.

    
    Table 2. Drill Hole Locations for Holes S31GON/07 to S33GON/07, S63DIE/07
    to S64DIE/07 and S69DIE/07 to S71DIE/07.

    -------------------------------------------------------------------------
    Drill Hole Nb     Location(*)      Azimuth       Dip       Drill Hole
                  ------------------- (degrees)   (degrees)    Length (m)
                     East    North
    -------------------------------------------------------------------------
    S31GON/07       499063  1140700       90          55           240
    -------------------------------------------------------------------------
    S32GON/07       499173  1139900       90          55         300.8
    -------------------------------------------------------------------------
    S33GON/07       499030  1139250       90          55         401.2
    -------------------------------------------------------------------------
    S63DIE/O7       497591  1147505       90          60         425.8
    -------------------------------------------------------------------------
    S64DIE/O7       497769  1147503       90          50         302.6
    -------------------------------------------------------------------------
    S69DIE/07       497982  1147699       90          55         250.8
    -------------------------------------------------------------------------
    S70DIE/07       498150  1147525      270          55         308.8
    -------------------------------------------------------------------------
    S71DIE/07       498150  1147525      135          55         260.7
    -------------------------------------------------------------------------
    (*) Datum WGS84, coordinates as planned, final coordinates to be surveyed
        and confirmed.

    GONGONDY

    -  Hole S31GON intersected the eastern extension of the mineralization
       recognized in holes S29 and S30 (see
       http://files.newswire.ca/329/Gongondy_Dh_Geol_2.jpg) near surface.
       However the mineralization is only recognizable by its relatively high
       gold values and (visible) traces of copper oxides (malachite mainly);
       the copper (sulphide) mineralization is essentially leached out so
       close to surface and copper grades, though anomalous, are low.

    -  Holes S32GON and S33GON were designed to test the western extension of
       the mineralization, identified in the central and southern parts of
       the area, respectively by holes S27 and S19GON. These holes
       intersected wide Cu-Au intervals, respectively 106m@ 0.66%Cu and
       0.49g/t Au  in hole S19GON and 23m@0.45% Cu and 0.31g/tAu and 51m
       @ 0.61% Cu and 0.36g/t Au in hole S27GON (see news release of 11
       July, 2007). Holes 32 and 33 confirm the extension of the
       mineralization, which remains open to the west. Hole S32GON was halted
       in relatively high-grade mineralization. The 116m @ 0.37% Cu and
       0.25g/t Au mineralized interval consist of three 18-29m wide, higher-
       grade intercepts, as indicated in table 1.

    -  Best interval in hole S33GON occurs near surface (20-46m) with not
       less than 26m @ 0.75% Cu and 1.1g/t Au. This intercepts suggests
       the presence of either a new mineralized breccia zone or of a fault
       between holes S33 and S19GON/07, which might have uplifted the
       mineralization intersected in S19. The hole is further marked by the
       presence of several high-grade (+1g/t) gold intervals, not all
       coinciding with high-grade copper mineralization. These intervals are
       summarized in table 3. Hole S33 suggests a possible lateral Au-Cu
       zoning, similar to the N-S zoning observed in the 1.5km drilled area
       along strike.
    

    To date all the holes drilled at Gongondy during the initial drilling
program have been assayed and results have been received for Cu and Au. The
holes identified copper-gold mineralization over the entire length of the
tested area, extending over more than 1.5km from hole S22 in the south to
holes S29 to 31 in the north (see
http://files.newswire.ca/329/Gongondy_Dh_Geol_2.jpg). Further drilling will be
needed to test whether the mineralization is continuous, hosted by one large
breccia, or whether it is contained in a set of contiguous breccia bodies.
Drill results obtained to date suggest that the northernmost target is richer
in gold, inferring a zoning in the mineralization. An on-going expansion
program will also test the mineralization for extensions.

    DIENEMERA

    The high-grade copper-gold mineralization is confined to hydrothermal
breccias, hosted by quartz diorite and/or diorite porphyry intrusions. The
breccia-hosted mineralization, intersected by all holes, is genetically
related to the porphyry complexes as part of a porphyry copper-gold system and
is largely hosted by diorite porphyry intrusions.

    
    -  Drill hole S63DIE/07 aimed at testing the mineralization at depth,
       extends the mineralization to the west well-under historical drill
       holes and the company's 2004 reverse circulation drill holes.

    -  Hole S64DIE/07, which returned 122m @ 0.56%Cu and 0.26g/tAu,
       confirms and extends (at depth) the mineralized interval recognized by
       the company's former reverse circulation hole RC2 (2004).

    -  Hole S69DIE/07 aimed at testing the eastern extension of the
       mineralization known to date. It hit the mineralization from surface
       to 61m depth (61m @ 0.44%Cu and 0.19g/t Au), suggesting that it is
       close to the eastern limit of the west-dipping mineralized breccia.
       As opposed to Gongondy (see above for example hole S31GON/07)
       weathering and leaching are less important at Dienemera, with fresh
       rock and sulphides being generally encountered at shallow depth.

    -  Hole S70 was drilled towards the west and aimed at testing an Induced
       Polarization chargeability anomaly. The hole was started quite far
       east from the currently known mineralized bodies. It did intersect
       essentially pyrite, the inferred cause of the chargeability anomaly,
       but nevertheless encountered several Cu-Au mineral intervals of +4m
       wide. At this stage this confirms that the mineralization is
       widespread throughout the area.

    -  Hole S71DIE/GON aimed at testing a ground magnetic anomaly coinciding
       with (historic) gold-in-soil highs. The hole was drilled in a NW-SE
       direction, perpendicular to the general trend of the ground magnetic
       anomaly. The best Cu-related intercept was 4m @ 0.48%Cu and
       0.43g/tAu. However it intersected several relatively high-grade gold
       zones, summarized in table 3: one near surface (44m @0.5g/t Au and
       0.15%Cu), others between 89-102m and 130-142m yielding on average some
       0.3g/t Au. This hole opens a new target area to be further tested for
       the possible presence of associated higher-grade copper
       mineralization.


    Table 3. Main (wide or high-grade) gold intervals not directly associated
    with copper mineralization.
    -------------------------------------------------------------------------
                                                                     Maximum
    TARGET              FROM(*)         INTERVAL(*)                  Internal
     AREA      HOLE Nb.   (m)  TO(*)(m)    (m)     Au (g/t)  Cu %   Dilution
                                                                      (m)(*)
    -------------------------------------------------------------------------
    GONGONDY   S33GON/07   85     89        4       5.28  below 0.1     0
                         ----------------------------------------------------
                          114    116        2       1.69     0.47       0
                         ----------------------------------------------------
                          216    288       72       0.23     0.17       3
                         ----------------------------------------------------
                          250    251        1       1.97     0.90       0
                         ----------------------------------------------------
                          331    332        1       6.04  below 0.1     0
                         ----------------------------------------------------
                          371    372        1       1.07  below 0.1     0
    -------------------------------------------------------------------------
    DIENEMERA  S71DIE/07   10     54       44       0.50     0.15       2
                         ----------------------------------------------------
                           89    102       13       0.30     0.23       3
                         ----------------------------------------------------
                          130    142       12       0.26     0.12       1
    -------------------------------------------------------------------------
    (*) core length-not true width.
    

    The above +1m intersections are based on a 0.15g/t Au cut-off with no top
cut applied. Internal dilution (less than 0.15g/t Au) has been carried out to
a maximum of 3m as indicated.
    Currently, drilling continues on the Gongondy target, where a 2,500m
drilling expansion program is being carried out (see news release of August
30, 2007). The drilling at Gongondy aims at identifying extensions and at
testing the continuity of the +1.5km long mineralized area as identified by
the initial drilling campaign. The north-south oriented mineralization is, as
known to date, open to the north, south and west.
    This drilling campaign is being funded by Freeport-McMoRan Exploration
Corporation (formerly Phelps Dodge Exploration Corporation), a subsidiary of
Freeport-McMoRan Copper & Gold Inc., as part of its earn-in (see news release
of 21 November, 2006).
    Under the guidelines of National Instrument 43-101, the qualified person
for the Gaoua copper-gold project is Mr. Guy Franceschi, Vice President
Exploration. Mr. Franceschi is a member of the European Federation of
Geologists and has reviewed and approved the contents of this news release.

    The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. Except for the
historical statements contained herein, this news release presents
"forward-looking statements" within the meaning of Canadian securities
legislation that involve inherent risks and uncertainties. Forward-looking
statements include, but are not limited to, statements with respect to the
closing of the transaction, the acquisition of Gidgee Gold Project and
Aphrodite Gold Project by Apex and the strategy and plans of Apex. Generally,
these forward-looking statements can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not expect",
"is expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or variations of such
words and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking statements are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results, level of
activity, performance or achievements of Goldcrest to be materially different
from those expressed or implied by such forward-looking statements, including
but not limited to: risks related to international operations, risks related
to the integration of acquisitions; risks related to joint venture operations;
actual results of current exploration activities; actual results of current or
future reclamation activities; conclusions of economic evaluations; changes in
project parameters as plans continue to be refined; future prices of gold and
other minerals and metals; possible variations in ore reserves, grade or
recovery rates; failure of equipment or processes to operate as anticipated;
accidents, labour disputes and other risks of the mining industry; and delays
in obtaining governmental approvals or financing or in the completion of
development or construction activities. Although the management and officers
of Goldcrest Resources Ltd. believe that the expectations reflected in such
forward-looking statements are based upon reasonable assumptions and have
attempted to identify important factors that could cause actual results to
differ materially from those contained in forward-looking statements, there
may be other factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements. Goldcrest does not undertake to
update any forward-looking statements that are incorporated by reference
herein, except in accordance with applicable securities laws. Trading in the
securities of Goldcrest Resources Ltd. should be considered highly
speculative.

    %SEDAR: 00017848E




For further information:

For further information: Kevin Bullock, P.Eng., President & CEO,
Goldcrest Resources Ltd., kbullock@goldcrestresources.com, Ph: (647) 388-1842,
Fax: (416) 867-2298; Ann Gibbs, Investor Relations, Goldcrest Resources Ltd.,
agibbs@goldcrestresources.com, Ph: (416) 488-0778; Corporate Website:
www.goldcrestresources.com

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