Press Releases

Goldrich Exploration Update

Spokane, WA - September 15, 2011 - Goldrich Mining Company (OTCBB: GRMC) (the "Company") reports good progress on its Chandalar, Alaska HQ core drilling and gold exploration program as follows:

Drilling Update
To date, Goldrich has drilled nineteen diamond drill core holes for a total of approximately 11,000 feet, of which sixteen holes were completed to target depth. Initial drilling on three gold targets, Summit, Mikado, and St. Mary's, has been finished. The fourth target, Rock Glacier, is currently being drilled, and road access to a fifth target, Aurora, is being prepared. Subject to weather, the Company believes it will be able to continue drilling through the third week of September and possibly into October. Drill core assays have a current turnaround time of approximately six weeks and all assay results should be released by mid-November 2011.

Soil Sampling
Goldrich recently completed a grid-based soil geochemical sample survey over the Chandalar district. Seven hundred and fifty samples were taken and work is now focused on tightening up the grid with more closely spaced sampling sites. This program is expected to involve more than 2,000 samples and will continue as long as weather permits.

A low-elevation airborne geophysical survey is underway by an international geophysical contractor and, subject to weather, should be completed shortly. The detailed helicopter-borne magnetic and gamma-ray spectrometry survey encompasses the whole Chandalar gold district. Gold mineralization appears to be spatially related to restricted magnetic lows occurring within a large northeasterly trending magnetic high that envelops the entire district. The results of this survey are expected to aid in the definition of drilling targets.


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, 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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