Press Releases

Goldrich Starts Chandalar Gold Exploration Drilling

Spokane, WA - July 6, 2011 - Goldrich Mining Company (OTCBB: GRMC) (the "Company") announces it has begun a diamond-core drilling program at its Chandalar gold property in Alaska. The drilling program, which began last week, will test multiple targets with 25 to 30 angle holes averaging 500 feet, with some up to 750 feet.

Drilling will explore an established northeast trend of gold mineralization more than five miles long and a half a mile wide. Gold mineralization occurs where a series of northwest striking shear zones cut a northeast structural feature (folding). Gold with strong arsenic mineralization along this corridor is hosted within the broad shears and their enclosing metamorphic stratigraphy. The mineralized meta-sediments are black graphitic phyllites and chloritic schists, within the black phyllites exists peripheral to the gold mineralization, yielding a strong, northeast trending magnetic halo more than five miles long.

Dick Walters, a geologist and director of the Company, remarked: "I believe Chandalar displays characteristics of sediment-hosted orogenic gold mineralization prospective for world-class gold deposits. The distribution, composition and structure of pre-metamorphic organic and sulfide rich metalliferous black shales are manifested by a metamorphic equivalent at Chandalar known as the Mikado Phyllite. The Mikado Phyllite is unique to the Chandalar property, is hundreds of feet thick, and presents a Carlin-type opportunity for Goldrich."


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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