Press Releases

Goldrich Reports Receipt of Mining Permit

Spokane, WA - July 9, 2012 - Goldrich Mining Company (OTCBB: GRMC) ("Goldrich") is pleased to report Goldrich NyacAU Placer, LLC ("GNP"), a 50/50 joint-venture company formed by Goldrich and NyacAU, LLC. ("NyacAU") has received a general mining permit for placer mining operations at Chandalar, Alaska.  This permit will enable mining operations to proceed at the Chandalar property.

GNP has begun earth moving at Chandalar and anticipates the recovery plant to extract gold from the placer gravels will be set up by mid-August. Commercial production is anticipated to begin by June 2013, although it could begin as early as this summer. An eventual production rate of approximately 10,000 ounces of fine gold per season is anticipated, but this could be significantly increased if a second gold recovery plant is put into production. Goldrich has not defined a mineral reserve according to SEC Industry Guide 7 criteria. However, based on drilling of the placer deposit to date and the anticipated production rate, Goldrich estimates the mine life will be approximately 25 years. The placer deposit is open to expansion in three directions and Goldrich believes the mine life may be significantly extended with additional drilling.

Goldrich also reports GNP has completed construction and set up of a new 30-man camp. The camp includes a water system, kitchen/mess hall, and recreation facilities. The camp will be used primarily for placer mining operations and Goldrich's existing camp will be used for exploration activities.

FORWARD-LOOKING STATEMENTS

This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements concern use of proceeds and potential exercise of the warrants. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, budgets, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might”, “should” or “will” be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements. Investors should not place undue reliance on any forward-looking statement and should consider the uncertainties and risks discussed in in the Company’s latest Annual Report on Form 10-K and Quarterly Report on Form 10-Q under the heading “Risk Factors”, filed with the U.S. Securities and Exchange Commission (the “SEC”) and available on the SEC website or www.goldrichmining.com, as well as the Company’s other SEC filings. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events, except as required by law.

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