Goldbrook Expands New Palladium-Rich Nickel Sulphide Discovery at Echo One

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UNITED STATES


Goldbrook Ventures Inc. ("Goldbrook" or the "Company") (TSX VENTURE:GBK) is
pleased to announce results from its 2010 Raglan project diamond drilling
program. The Raglan Project located in Ungava, northern Quebec, is an
Option-Joint Venture Agreement with Jilin Jien Nickel Industry Co., Ltd. ("Jilin
Jien") of Panshi, Jilin, China.


Echo One Prospect

Goldbrook is pleased to announce an expansion along strike of the recently
reported discovery (October 22, 2010 news release) of a significant and
apparently extensive high grade palladium-platinum-nickel-copper sulphide system
at the Echo One prospect located between Goldbrook's Timtu and Bravo deposits
(NI43-101 compliant resources described in November 5, 2010 news release). The
results expand the Echo One zone strike length to about 700 m and the zone
appears to increase in grade and thickness particularly in the vicinity of
drillholes ECH10-21 and ECH10-25 with 21 m and 58.9 m intersections
respectively.


The Echo Ultramafic Complex was identified as an under-explored and high
priority target during 2010 pre-season targeting led by a team from Revelation
Geoscience Ltd. Historical exploration identified narrow intervals of high grade
Ni-Cu-Pd sulphides associated with a strike-extensive gossan at Echo One. (see
detail at http://www.goldbrookventures.com/EN/echo_one/)


During the 2010 drilling campaign, 32 diamond drill holes totalling 6193 metres
were completed within the Echo One prospect. These holes were drilled along the
southern contact of the Echo One complex over a strike length of 1600 metres.
Twenty-eight of these drillholes intersected nickel-copper-palladium sulphide
mineralization located both within, and at the contact of, the large composite
ultramafic complex.


The Echo One mineralized zone is exposed at surface and has been intersected
beyond 225 metres vertical depth. Supporting field work at Echo One included
Crone borehole EM surveys on 22 drillholes, prospecting, structural mapping, a
25-metre spaced ground magnetic survey and a detailed till sampling grid over
the basal contact of the Echo One mafic-ultramafic complex.


Ongoing interpretation of the geology, geophysical responses and geochemistry of
Echo One have already indentified critical structural controls on thicker parts
of the mineralized zone and have defined preliminary drill targets for a 2011
follow-up program.


Highlights of the Echo One drilling assay results reported below include:



--  ECH10-021, with an inclination of -55 degrees, intersected sulphides
    over 21.00 metres from 217.00 to 238.00 metres downhole, with an average
    grade of 0.46% Ni, 0.93% Cu, 0.03% Co, 3.93 g/t PGE+Au, which calculates
    to 1.77% Ni Equivalent, including 7.00 metres from 223.57 to 230.57
    metres downhole, with an average grade of 1.14% Ni, 1.77% Cu, 0.07% Co
    and 8.98 g/t PGE+Au, which calculates to 4.00% Ni Equivalent. The
    drillhole ended in graphitic argillite at 290 metres. 

--  ECH10-025, with an inclination of -65 degrees, intersected sulphides
    over 58.90 metres from 121.10 to 180.00 metres downhole, with an average
    grade of 0.53% Ni, 0.50% Cu, 0.03% Co and 2.05 g/t PGE+Au, which
    calculates to 1.24% Ni Equivalent. The drillhole ended in peridotite at
    271 metres. 



Echo One is considered to be a new style of mineralization in the Raglan
District with a significant value contribution from higher grade Palladium.
These new intercepts are also being reported in nickel equivalent values in
order to reflect the polymetallic nature of the mineralization.




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Table 1. Composited assay results 2010 - Echo One Prospect                 
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                         Inter-                                  PGE+    Ni
            From      To   val    Ni   Cu    Co    Pt   Pd    Au   Au Equiv
          -------------------- ---------------- ---------------- ---- -----
Hole ID          metres             percent      grams per tonne  g/t     %
---------------------------------------------------------------------------
ECH10-011 139.00  142.43  3.43  0.18 0.28  0.01  0.29 0.89  0.05 1.23  0.43
---------------------------------------------------------------------------
ECH10-013  55.60   56.70  1.10  0.13 0.15  0.01  0.10 0.53  0.06 0.69  0.36
---------------------------------------------------------------------------
ECH10-014 226.00  230.30  4.30  0.24 0.44  0.02  0.26 1.13  0.25 1.64  0.80
---------------------------------------------------------------------------
ECH10-016 122.00  132.20 10.20  0.25 0.57  0.02  0.29 1.87  0.04 2.20  1.00
---------------------------------------------------------------------------
ECH10-017 214.00  222.50  8.50  0.22 0.31  0.02  0.20 0.89  0.03 1.12  0.62
---------------------------------------------------------------------------
ECH10-018 156.57  161.64  5.07  0.28 0.21  0.02  0.25 1.16  0.03 1.44  0.73
---------------------------------------------------------------------------
ECH10-019 206.00  211.70  5.70  0.25 0.19  0.02  0.16 1.00  0.01 1.17  0.64
---------------------------------------------------------------------------
ECH10-020 200.40  201.30  0.90  0.91 2.89  0.06  0.95 1.55  0.08 2.58  2.60
---------------------------------------------------------------------------
ECH10-021 217.00  238.00 21.00  0.46 0.93  0.03  0.50 3.39  0.04 3.93  1.77
---------------------------------------------------------------------------
Including 223.57  230.57  7.00  1.14 1.77  0.07  1.22 7.68  0.08 8.98  4.00
---------------------------------------------------------------------------
ECH10-022 280.00  296.00 16.00  0.19 0.27  0.01  0.17 0.82  0.04 1.03  0.55
---------------------------------------------------------------------------
ECH10-023  76.00   79.30  3.30  0.61 0.74  0.04  0.26 1.57  0.03 1.86  1.37
---------------------------------------------------------------------------
ECH10-024  93.00   98.25  5.25  0.24 0.30  0.02  0.26 0.86  0.02 1.14  0.64
---------------------------------------------------------------------------
ECH10-025 121.10  180.00 58.90  0.53 0.50  0.03  0.35 1.67  0.03 2.05  1.24
---------------------------------------------------------------------------
ECH10-026  32.15   36.00  3.85  0.33 0.56  0.02  0.58 1.77  0.02 2.37  1.12
---------------------------------------------------------------------------
ECH10-027  45.35   49.25  3.90  1.16 0.29  0.07  0.64 3.85  0.04 4.53  2.47
---------------------------------------------------------------------------
ECH10-029  21.75   23.00  1.25  0.20 0.23  0.02  0.24 0.88  0.01 1.13  0.59
---------------------------------------------------------------------------
ECH10-030  34.16   38.67  4.51  0.59 0.38  0.04  0.73 1.64  0.02 2.39  1.37
---------------------------------------------------------------------------
ECH10-031  86.85   87.65  0.80  0.69 0.14  0.04  1.45 7.27  0.03 8.75  2.89
---------------------------------------------------------------------------
ECH10-032 108.94  116.00  7.06  0.29 0.45  0.02  0.27 1.33  0.10 1.70  0.88
---------------------------------------------------------------------------
NOTE 1: Intersections are reported as actual core lengths, true widths may 
be less than core widths depending on the angle of the hole and orientation
of the intersection                                                        
---------------------------------------------------------------------------
NOTE 2: Ni equivalent calculations use metal prices from the November 2010 
NI43-101 P&E Mining resource estimates for Goldbrook's Belanger-Delta Trend
deposits. These prices, being US$8.92/lb for nickel, US$2.93/lb for copper,
US$$20/lb for cobalt, US$1143/oz for platinum, US$354/oz for palladium, and
US$975/oz for gold. As no metallurgical studies have been completed to 
date, metallurgical recoveries and net smelter returns are assumed to be 
100%.                      
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----------------------------------------------------------------------------
Table 2. Drillholes collar coordinates and details 2010 - Echo One Prospect 
---------------------------------------------------------------------------
                      UTM                       Eleva- Length              
HOLE ID       Datum  Zone  Easting   Northing    tion      (m)  Dip Azimuth
---------------------------------------------------------------------------
ECH10-011   NAD1983    18 514147.6  6812531.9   466.0  187.00   -50     180
---------------------------------------------------------------------------
ECH10-013   NAD1983    18 514107.8  6812389.3   436.0  110.00   -50     360
---------------------------------------------------------------------------
ECH10-014   NAD1983    18 514287.0  6812618.4   467.8  253.00   -50     180
---------------------------------------------------------------------------
ECH10-016   NAD1983    18 514784.5  6812681.9   464.9  167.80   -45     180
---------------------------------------------------------------------------
ECH10-017   NAD1983    18 514784.7  6812683.1   465.0  232.40   -65     180
---------------------------------------------------------------------------
ECH10-018   NAD1983    18 515076.4  6812797.8   452.0  213.43   -45     180
---------------------------------------------------------------------------
ECH10-019   NAD1983    18 515076.4  6812797.8   452.0  225.00   -60     180
---------------------------------------------------------------------------
ECH10-020   NAD1983    18 515024.3  6812804.2   456.1  219.00   -45     180
---------------------------------------------------------------------------
ECH10-021   NAD1983    18 515024.3  6812804.2   456.1  290.00   -55     180
---------------------------------------------------------------------------
ECH10-022   NAD1983    18 515024.3  6812804.2   456.1  326.40   -60     180
---------------------------------------------------------------------------
ECH10-023   NAD1983    18 514984.2  6812584.7   430.2  139.80   -45     360
---------------------------------------------------------------------------
ECH10-024   NAD1983    18 514984.2  6812584.7   430.2  149.00   -55     360
---------------------------------------------------------------------------
ECH10-025   NAD1983    18 514984.2  6812584.7   430.2  271.40   -65     360
---------------------------------------------------------------------------
ECH10-026   NAD1983    18 514599.5  6812505.1   429.7   98.60   -45     360
---------------------------------------------------------------------------
ECH10-027   NAD1983    18 514599.5  6812505.1   429.7  106.66   -55     360
---------------------------------------------------------------------------
ECH10-028   NAD1983    18 514599.5  6812505.1   429.7  143.00   -68     360
---------------------------------------------------------------------------
ECH10-029   NAD1983    18 514363.8  6812446.7   434.8   65.00   -45     360
---------------------------------------------------------------------------
ECH10-030   NAD1983    18 514363.8  6812446.7   434.8  128.00   -62     360
---------------------------------------------------------------------------
ECH10-031   NAD1983    18 514879.4  6812549.9   429.3  137.00   -55     360
---------------------------------------------------------------------------
ECH10-032   NAD1983    18 514879.4  6812549.9   429.3  152.00   -68     360
---------------------------------------------------------------------------



Analyses

Drillcore samples from the 2010 drill program were assayed by ALS Chemex
Laboratories in Vancouver, BC (ISO 17025:2005 certified). Sample preparation was
completed at the ALS Sudbury facility. Assay results for nickel, copper and
cobalt were determined by 4-acid digestion and ICP-AES finish and report total
nickel. Platinum, palladium and gold were determined by fire assay fusion and
ICP-AES finish. In addition to the ALS Chemex quality control procedures,
Goldbrook inserts Certified Reference Materials, blanks and duplicates into the
sample batches for independent quality control.


Mr. Kevin W. Wells, P.Geo. (Quebec SA# 155), General Manager, Goldbrook Ventures
is a qualified person as defined by National Instrument 43-101 and has reviewed
and verified the information contained and is responsible for the technical
content of this press release.


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
861,000 acres.


Goldbrook's Raglan project is in the third year of an option-joint venture
agreement with Jilin Jien Nickel Industry Co., Ltd. ("Jilin Jien") under which
they can earn a fifty percent interest in the Goldbrook properties by funding
minimum exploration expenditures of $45 million plus reinvestment of Quebec
government rebates.


Goldbrook is a shareholder of Jien Canada Mining Ltd. ("Jien Canada") (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. The board of Jien
Canada has recently purported to approve an issuance of voting common shares of
Jien Canada that would reduce Goldbrook's percentage of voting shares, and
consequently Goldbrook's interest in the project, from 25% to 4.21%. Goldbrook
has commenced arbitration proceedings against Jilin Jien and others seeking
remedies, including declarations that the share issuance violated the terms of
the Shareholder Agreement between the parties and that Goldbrook continues to
hold 25% of the voting shares of Jien Canada.


ON BEHALF OF THE BOARD:

Brian Grant, PGeo., President 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 arbitration proceedings against Jilin Jien and
others.


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.