Goldbrook Announces Jien Canada Board Purports to Approve Share Issuances in Violation of Shareholder Agreement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


Goldbrook Ventures Inc. ("Goldbrook") (TSX VENTURE:GBK) announces that at a
meeting of the Directors of Jien Canada Mining Ltd. ("Jien Canada"), the
nominees of Jilin Jien Nickel Industry Co., Ltd. ("JJ") have purported to
approve an issuance of voting common shares of Jien Canada ("Voting Shares") to
JJ that would reduce Goldbrook's percentage of Voting Shares from 25% to 4.21%
and increase JJ's percentage of Voting Shares from 75% to 95.79%. Goldbrook has
informed JJ that this share issuance is not permitted under the Shareholder,
Joint Bid and Operating Agreement (the "Shareholder Agreement") between the
parties that governs the operation of Jien Canada. Goldbrook has discussed this
matter with its legal counsel and has informed JJ that any issuance of Voting
Shares requires its approval under the Shareholder Agreement and that such
issuance is also in contravention of other provisions of the Shareholder
Agreement. Goldbrook intends to vigorously defend its rights under the
Shareholder Agreement. Goldbrook intends to commence court and/or arbitration
proceedings against JJ and others which may include, without limiting the
forgoing, claims for breach of contract, oppression and bad faith. Although
Goldbrook intends to defend its position vigorously there is no certainty it
will be successful in this regard.


About Goldbrook

Goldbrook Ventures is engaged in the exploration and development of
Nickel-Copper-Platinum Group Element sulphide deposits - a class of mineral
deposit that, due to its polymetallic nature, has an advantage of protection
against individual metal price cycles and has strong long term supply-demand
fundamentals. Goldbrook's quest for discovery is focused in the Raglan District
of Northern Quebec, a district that hosts Xstrata's Raglan operations, arguably
one of the world's most profitable nickel-copper-PGE mines. Goldbrook is the
District's single largest holder of mineral rights, with a 100% interest in
863,000 acres.


Goldbrook is also a shareholder of Jien Canada Mining Ltd. (which successfully
acquired Canadian Royalties Inc.), the owner of the
nickel-copper-cobalt-platinum-palladium-gold deposits in the Raglan mining
district which collectively form the Nunavik Nickel Project.


ON BEHALF OF THE BOARD:

David Baker, Chairman and Director

Cautionary Note Regarding Forward-Looking Statements

Certain of the statements made herein may contain forward-looking statements or
information within the meaning of Canadian securities laws and the applicable
securities laws of the United States. Such forward looking statements or
information include, but are not limited to, statements or information with
respect to Goldbrook's plan for future exploration and development of its
properties and the results of any legal proceedings against JJ.


Forward-looking statements or information are based on a number of estimates and
assumptions and are subject to a variety of risks and uncertainties, which could
cause actual events or results to differ from those reflected in the
forward-looking statements or information. Should one or more of these risks and
uncertainties materialize, or should underlying estimates and assumptions prove
incorrect, actual results may vary materially from those described in forward
looking statements or information. Factors related to such risks and
uncertainties, and underlying estimates and assumptions include, among others,
the following: the ability of Goldbrook to advance development of its
properties; price volatility of nickel and other metals; impact of any hedging
activities, including margin limits and margin calls; discrepancies between
actual and estimated production, between actual and estimated resources, and
between actual and estimated metallurgical recoveries; mining operational risk;
regulatory restrictions, including environmental regulatory restrictions and
liability; risks of sovereign investment; speculative nature of mineral
exploration; defective title to mineral claims or property, litigation,
legislative, environmental and other judicial, regulatory, political and
competitive developments; technological or operational difficulties or inability
to obtain permits encountered in connection with exploration activities; and
labour relations matters. Accordingly, undue reliance should not be placed on
forward looking statements or information. We do not expect to update
forward-looking statements or information continually as conditions change,
except as may be required by law.