Goldcrest Intersects Wide Copper-Gold Mineralization at Dienemera and Expands Drilling Program at its Gaoua Copper-Gold Project in Burkina Faso, West Africa



    TORONTO, Aug. 30 /CNW/ - Goldcrest Resources Ltd. ("Goldcrest", "the
Company"), (GCL-TSX.V) is pleased to announce additional results from the
on-going diamond drilling program at its Gaoua copper-gold project in southern
Burkina Faso, West Africa.
    Assay results have been received from four holes, drilled on the
Dienemera target (See http://files.newswire.ca/329/Malba.jpg). 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 four holes confirm the presence of wide copper-gold mineralization
hosted by hydrothermal breccia, which show porphyry copper characteristics.
The best results for these drill holes include 150m @ 0.38%Cu and 0.13g/t Au
in hole S66DIE/07, 173m @ 0.42%Cu and 0.16g/t Au in hole S67DIE/07, and 61m @
0.42%Cu and 0.25g/t Au in hole S68DIE/07. Hole S65DIE/07, designed to test the
continuity of the mineralization down-dip, intersected the mineralization over
224m @ 0.52% Cu and 0.19g/t Au. These wide intercepts also contain higher
grade intervals as presented in Table 1.
    "With wide intersections at Dienemera, we have now confirmed copper-gold
mineralization at a second target area, approximately 8 kilometres north of
Gongondy," said Kevin Bullock, President and CEO of Goldcrest.
    Based on the encouraging results received, the drilling program has been
increased by a further 2,500 metres. This is the second increase of the
initial program since its implementation. A first increase involved the
drilling of three additional holes at Gongondy (see news release of 19 June
2007). The total drilling program, including the two expansions, will now
total about 12,500m of core drilling, about 50% more than initially planned.
The expanded program will mainly focus on extending the mineralized breccias
in the Gongondy target area to the west, north and south.
    A total of 9,091 metres in 30 holes have been drilled at the Gaoua
project to date. A total of 4,464 metres in 15 holes at Gongondy and 4,627
metres in 15 holes at Dienemera have been drilled. Results have now been
received for 16 holes in total (4 at Dienemera and 12 at Gongondy).

    
    Table 1. Main Cu-Au Intercepts.
    -------------------------------------------------------------------------
                                                                   MAXIMUM
                                                                   INTERNAL
    DDH          FROM        TO     INTERVAL      Cu       Au      DILUTION
                  (m)        (m)     (m)(*)       (%)     (g/t)     (m)(*)
    -------------------------------------------------------------------------
    S65DIE           0      224       224        0.52     0.19        9
           ------------------------------------------------------------------
             INCL. 119      132        13        0.88     0.31        0
           ------------------------------------------------------------------
             INCL. 160      165         5        1.11     0.27        0
           ------------------------------------------------------------------
             INCL. 193      212        19        0.79     0.24        1
           ------------------------------------------------------------------
                   282      290         8        0.71     0.24        3
    -------------------------------------------------------------------------
    S66DIE          78      229       151        0.38     0.13       16
           ------------------------------------------------------------------
              INCL. 78      146        68        0.45     0.15        5
           ------------------------------------------------------------------
             INCL. 162      165         3        0.80     0.21        0
           ------------------------------------------------------------------
             INCL. 173      204        31        0.50     0.15        3
           ------------------------------------------------------------------
             INCL. 215      229        14        0.40     0.11        3
    -------------------------------------------------------------------------
    S67DIE         164      337       173        0.42     0.16       17
           ------------------------------------------------------------------
             INCL. 164      199        35        0.49     0.18        1
           ------------------------------------------------------------------
             INCL. 231      250        19        0.43     0.16        2
           ------------------------------------------------------------------
             INCL. 267      337        70        0.53     0.21        3
    -------------------------------------------------------------------------
    S68DIE         142      203        61        0.43     0.25        7
           ------------------------------------------------------------------
             INCL. 152      186        34        0.60     0.38        2
    -------------------------------------------------------------------------
    (*) 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 to a maximum
of 5m except for the wider (+150m) intervals, where the maximum internal
dilution is 16m (146 to 162m) in hole S66DIE/07 and 17m (250-267m). in
S67DIE/07. A maximum internal dilution of 7m has been carried out in S68DIE
(142-203m) which was drilled down-dip to test the continuity of the
mineralization.

    Table 2. Drill Hole Locations for Holes S65DIE/07 to 68DIE/07.
    -------------------------------------------------------------------------
                  Location(*)
      Drill    -----------------     Azimuth      Dip     Drill Hole
     Hole Nb     North    East      (degrees)  (degrees)  Length (m)
    -------------------------------------------------------------------------
    S65DIE/07   497709   1147456       270        50       326.7
    -------------------------------------------------------------------------
    S66DIE/07   497834   1147501        90        50       302.7
    -------------------------------------------------------------------------
    S67DIE/07   497599   1147605        90        55       413.8
    -------------------------------------------------------------------------
    S68DIE/07   497832   1147706        90        55       383.8
    -------------------------------------------------------------------------
    (*) Datum WGS84, coordinates as planned, final coordinates to be surveyed
        and confirmed.
    

    Hole S66DIE/07 was designed to test the southern extension of the
mineralization as recognized by previous explorers. The hole intersected a
wide mineralized interval (150m @ 0.38%Cu and 0.13g/t Au) confirming the
extension of the mineralized breccia towards the south where it remains open
(See http://files.newswire.ca/329/Dienemera.jpg).
    Holes S67DIE/07 and S68DIE/07 confirmed the extension of the mineralized
breccia towards the west and indicate that it dips towards the west. Hole
S67DIE/07 (173m @ 0.42% Cu and 0.16g/t Au) intercepted a much wider
mineralized interval than reported in previous (historical) nearby holes,
while S68DIE/07 (61m @ 0.42%Cu and 0.25g/t Au) on section 1147725N intercepted
a mineralized interval similar to those intersected by previous historical,
nearby, holes.
    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. The mineralized breccia is
characterized by small clasts and by the presence of centimetric clots of
cementing minerals that approximate a triangular form. The hydrothermal cement
is composed of quartz, K-feldspar, epidote, chalcopyrite, bornite, pyrite,
calcite and anhydrite. Open cavities occur in core recovered from above the
sulphate front, thereunder anhydrite is an important late cementing mineral.
Most of the breccia-hosted mineralization consists of hypogene chalcopyrite
with which gold values appear to be closely correlated.
    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.
    A total of 15 diamond drill holes have been completed at Dienemera
totalling 4,627 meters. So far results have been obtained for only 4 holes.
Results for the remaining holes will be released as they become available. The
project has recently experienced severe delays in obtaining assay results from
the Laboratory. Copper assays from several holes, completed in June and July
at Gongondy and Dienemera, are still pending.
    Currently, drilling continues on the Mt. Biri target, about 2km due north
of Dienemera (See http://files.newswire.ca/329/Malba.jpg), where three holes
are to be completed before heading back to Gongondy.
    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, Consulting
Exploration Manager for West Africa. 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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