Goldrich Begins Gold Production In Alaska

SPOKANE, WA – Goldrich Mining Company reported that it has begun commercial gold production at its Chandalar property in Alaska.
William Schara, President and CEO of Goldrich, comments, "This is a major milestone for the Company. Through the extraordinary efforts of our exploration and mining crew, we have been able to reach production in less than three years since drilling discovered the deposit in the summer of 2007. Having a cash flow helps protect us from some uncertainties in the current world financial markets and gives us a distinct advantage for growth over non-producing junior mining companies."
The Company expects to produce 5,000 to 7,000 ounces of gold this operating season, which ends with freeze up in late September. As the project matures over the next couple of summers, the production level is anticipated to reach 30,000 ounces of gold per year. The alluvial gold mine is being commissioned following successful test processing of some 13,800 cubic yards last season that recovered about 500 ounces of fine gold in a short two week run. Drilling has shown the deposit contains more than 10.5 million cubic yards of mineralized material at an average grade of 0.02456 ounces gold per cubic yard. The Company believes continued drilling would materially expand the size of the deposit. Production is beginning with the gold recovery plant that was constructed and tested last year. A second larger gold recovery plant is expected to be operational sometime in August.
The company’s address is 2607 Southeast Blvd., Suite B211, Spokane, Washington 99223, 509.768-4468, 509.695-3289.