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Goldcliff Resource Corporation: Panorama Ridge-Spar Gold Zone Discovered at Depth

Posted on: Thursday, 1 March 2007, 15:00 CST

Leonard W. Saleken, President of Goldcliff Resource Corporation (TSX VENTURE: GCN) is pleased to report that the 2006 drilling program has produced a depth discovery of the Spar gold zone at Panorama Ridge. The 2006 drill hole (26054) intersected three significant gold mineralized horizons - highlighted by 0.51 grams gold per tonne over a 26.22 metre core intersection. Included in the intersection is 1.01 grams gold per tonne over 11.22 metres with a high-grade interval assaying 4.15 grams gold per tonne over 1.67 metres. Surface trenching at the Spar in 2002 did not reproduce a previously reported grab sample that had assayed 18.05 grams gold per tonne. This 2006 drilling now confirms the Gold Mineralized Zone (GMZ) at the Spar and the potential of the GMZ to contain economically significant values at this locale. The Spar showing drill discovery of gold mineralization zone (GMZ) at depth provides new exploration territory on Panorama Ridge.

The drill hole (26054) at the Spar showing intersected three gold mineralized horizons in the zone. The hole was drilled north-east (320 degree azimuth) at minus 45 degrees to a total length of 151.08 metres. The three significant gold mineralized horizons were intersected from 10.71 to 16.71 metres (6.00 metres), 18.71 to 74.09 metres (55.38 metres) and 139.26 to 143.89 metres (4.61 metres). The drill gold mineralized horizons are reported with the core intercept in metres (m) and gold in grams per tonne (Au g/t):

 Upper Gold Horizon DDH (#)   From (m)   To (m)  Interval (m)  Au (g/t) 26054       10.71    16.71          6.00      0.21 Middle Gold Horizon DDH (#)   From (m)   To (m)  Interval (m)  Au (g/t) 26054       18.71    74.09         55.38      0.31 Including   34.24    60.46         26.22      0.51 Including   46.24    57.46         11.22      1.01 Including   50.24    57.46          7.22      1.44 Including   52.24    56.46          4.22      2.29 Including   53.79    55.46          1.67      4.15 Lower Gold Horizon DDH (#)   From (m)   To (m)  Interval (m)  Au (g/t) 26054      139.26   143.89          4.61      0.27 Includes   142.37   143.10          0.73      1.00 

The drill hole 23017 is located 80.00 metres east of 26054. It was drilled in 2003 towards the Spar showing from the east to the west (260 degree azimuth, minus 45 degrees). This hole intersected a significant gold horizon towards the bottom of the hole and appeared to intersect the Spar zone. The significance of this hole was unclear at the time. The 2003 gold mineralization results are as follows:

 DDH (#)     From (m)     To (m)          Interval (m)     Au (g/t) 23017          88.69          154.53          65.84          0.28 Including     139.39          154.53          15.14          0.54 Including     150.86          154.53          3.67          0.70 Including     151.86          152.49          0.63          1.08 

Based on the 2006 drilling data, it is now known that the 23017 drill hole gold horizon did intersect the Skar showing and the gold mineralization is interpreted to be associated with the lower gold horizon of hole 26054 (drilled in 2006). The upper and middle gold horizons in hole 26054 were not intersected in hole 23017. Based on two dill holes at the Spar, the general gold mineralization trend is in a north-west direction.

With the Spar showing drill discovery of gold mineralization at depth, Goldcliff has opened new exploration territory to the north-west section of the Panorama Ridge property and added another potential gold deposit to the overall Panorama Ridge gold system. The Spar zone discovery signifies the on-going gold discovery success on the Panorama Ridge property.

Goldcliff is awaiting receipt of the remaining assay data on the Panorama property from last fall's diamond drilling program. The assay results will be disclosed once the full set of data has been received and compiled.

Leonard W. Saleken, PGeo., is the qualified person as defined by National Instrument 43-101 who supervised the preparation and verification of the technical information in this release.

GOLDCLIFF RESOURCE CORPORATION

Leonard W. Saleken, PGeo., CEO, President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this news release.

 Contacts: Goldcliff Resource Corporation Leonard W. Saleken (604) 685-5685 or Toll Free: 1-866-769-4802  Goldcliff Resource Corporation George W. Sanders (604) 685-5685 or Toll Free: 1-866-769-4802  Goldcliff Resource Corporation George W. Sanders (604) 685-5685 or Toll Free: 1-866-769-4802 (604) 261-8994 (FAX) Email: info@goldcliff.com Website: www.goldcliff.com

SOURCE: Goldcliff Resource Corporation

Source: MARKET WIRE

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