Lindero Feasibility Study With 109,000 Oz Annual Production

VANCOUVER - Goldrock Mines Corp reported the results of a positive Feasibility Study by Kappes, Cassiday & Associates ("KCA"), Mine Development Associates ("MDA") and AMEC Americas Limited ("AMEC") to develop its 100% owned and permitted Lindero gold deposit in the Salta province, Argentina the "Lindero Project"). The economic assessment for the Feasibility Study estimates the project will produce an average of 109,000 ounces of gold per annum for the first 9 years of the mine life with a total life of mine production of 1.037 million ounces.

Highlights of the Feasibility Study include: An average of 128,000 ounces gold production in the first three years; Developmental capital costs of US$155.4 million 3, inclusive of 3 months of working capital, and First Fills (including lime, cyanide and carbon); Pre-tax Internal Rate of Return of 40.9%; After-tax Internal Rate of Return of 33.4%; After-tax NPV of US$215 million; Payback period of 24 months; Cash operating costs of US$647/oz gold 4; All-in sustaining cash costs of US$703/oz gold 5; After-tax Internal Rate of Return @ US$1200 and US$1300 /oz Gold are 21.7% and 27.6%.

The Feasibility Study demonstrates a straightforward mining project including a shallow open pit mine, three stage ore crushing, conventional heap leaching, and a carbon adsorption-desorption-recovery ("ADR") processing plant for precious metal recovery.

Although the mineral resources currently outlined on the Lindero Project could support a significantly higher mining rate and production profile, it is the Company's preference to build a low capital cost and smaller footprint operation. This initial lower risk mining and processing scenario will act as a foundation for future production growth and will also provide the Company with the opportunity to fund possible future expansions including the evaluation and possible development of the adjacent Arizaro deposit from internally generated cash flow.

Paul Matysek, President and CEO, commented "The completion of the Lindero Feasibility Study marks an important milestone towards our goal of becoming a gold producer. We are pleased to be able to deliver a technically and financially robust project with modest capital requirements, a shorter construction schedule and an accelerated time-line to positive cash flow generation. It is also noted that the project's after-tax NPV of US$215M (using a $1,400 gold price) is over 5 times our current market capital ($42.6M @ $0.65 per share). The project is already permitted for development and has strong Salta provincial government and community support. Salta is a mining friendly jurisdiction that wants Lindero to be the first gold mine to be put into production in the province (Argentina is the 12th largest producer of gold in the world). With the completion of the Feasibility Study and project permitting, the Company is now focused on funding alternatives for the project."