Goldbrook Intersects Massive Sulphides at Delta Northeast and Expands Size Potential of Bravo B4 Deposit

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UNITED STATES


Goldbrook Ventures Inc. ("Goldbrook") (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. of Panshi, Jilin, China. This release
reports results from 2010 drilling at the Delta Northeast prospect and the Bravo
B4 deposit.


Delta Northeast Prospect

Goldbrook has discovered a high grade nickel sulphide system at the Delta
Northeast prospect located 10 kilometres northeast of Goldbrook's Bravo B4
Deposit (NI43-101 compliant resource estimate, press release dated November 4,
2010) and, immediately along strike from Xstrata Nickel's Delta 8 and Delta 9
deposits. The Delta 8 and Delta 9 ore bodies were reported in a 1988
Falconbridge assessment report (GM48413, Gurgurewicz - Luck and Hassard) to
contain a non-NI43-101 compliant historical resource estimate of a combined
741,714 tonnes of 3.05% Ni, 1.27% Cu, 1.01 g/t Pt, 1.65 g/t Pd). 


The Delta Complex was identified as an under-explored and high priority target
during Goldbrook's 2010 pre-season targeting. Initial drilling by Goldbrook in
2009 had intersected disseminated zones of high tenor Ni-Cu-Pd sulphides,
geochemically similar to the Delta 8 and 9 ores. The 2010 program was designed
to follow up on the disseminated mineralization intersected during the 2009
drill program and by a shallow hole drilled by Phelps Dodge in 1989. 


Late in the 2010 drilling campaign, Goldbrook completed 4 diamond drill holes
totalling 881 metres on the Delta Northeast prospect. These holes were drilled
on sections along the strike of the Delta Complex between 250 and 450 metres
from the Delta 9 ore body. Composited assay results of the Delta Northeast
drilling are listed in Table 1.


See link to Goldbrook website for map http://www.goldbrookventures.com/EN/delta/

Drilling to date demonstrates potential for both broad zones of mineralization
and that the geological processes necessary for forming massive Ni-Cu-PGE
sulphide mineralization are present at Delta Northeast. High resolution ground
EM is required to advance this prospect to the next stage of drilling and the
drill has been winterized on the site in preparation for a follow-up drill
program in 2011. 




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Table 1. Composited assay results 2010 - Delta Northeast Prospect          
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                                 Inter-                                    
                    From     To    val   Ni   Cu   Co   Pt   Pd   Au PGE+Au
                  ---------------------------------------------------------
            Inter-                                         grams
Hole ID       val         metres            percent      per tonne      g/t
---------------------------------------------------------------------------
DNE10-001       No Significant Results                                     
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DNE10-002       1 163.00 181.40  18.40 0.42 0.12 0.02 0.12 0.28 0.03   0.43
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DNE10-002       2 183.00 188.30   5.30 0.49 0.15 0.02 0.22 0.50 0.03   0.75
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DNE10-003       1 195.40 198.10   2.70 3.49 0.25 0.08 0.83 1.96 0.03   2.82
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DNE10-004       1 201.00 208.10   7.10 0.62 0.18 0.02 0.23 0.52 0.03   0.78
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NOTE: 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                                                           
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Table 2. Drillholes collar coordinates and details 2010 - Delta Northeast  
Prospect                                                                   
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                      UTM                        Elev- Length              
HOLE ID       Datum  Zone   Easting  Northing   ation      (m)  Dip Azimuth
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DNE10-001   NAD1983    18  530125.9 6817031.2   479.9  137.00   -50     160
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DNE10-002   NAD1983    18  529965.7 6817365.2   443.9  248.00   -75     180
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DNE10-003   NAD1983    18  529995.4 6817403.8   435.5  257.00   -75     180
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DNE10-004   NAD1983    18  529966.0 6817436.0   433.7  239.00   -75     180
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Bravo B4 Deposit

The Bravo B4 Deposit contains approximately 325,000 tonnes of 0.81% Ni, 0.94%
Cu, 0.04% Co, 0.06 g/t Au, 0.29 g/t Pt, 1.45 g/t Pd. A NI43-101 compliant
resource estimate was recently completed by P & E Mining Consultants Inc.
(Goldbrook November 4, 2010 press release). The Bravo B4 Deposit forms a part of
the Bravo Ultramafic Complex and is located between the Delta Complex to the
east and the Echo Complex to the west. 


Goldbrook completed five diamond drill holes totalling 1298 metres near the
Bravo B4 Deposit in 2010. These holes were drilled at depth beneath and to the
north of the existing deposit and have resulted in an extension of the known
mineralization down-dip to the north. One of these holes was drilled along
strike to test a borehole EM anomaly identified from previous work. Composited
assay results of the Bravo B4 drilling are listed in Table 3.


Drilling to date demonstrates potential for further expansion of the
mineralization at Bravo B4 in the down-dip direction. The dip of the ore body
appears to be becoming increasingly shallow at depth. Further drilling is
required to explore this deeper zone. Bravo B4 remains open along strike to the
West and at depth.




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Table 3. Composited assay results 2010 - Bravo B4 Deposit                  
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                                 Inter-                                    
                    From     To    val   Ni   Cu   Co   Pt   Pd   Au PGE+Au
                  ---------------------------------------------------------
            Inter-                                         grams
Hole ID       val         metres            percent      per tonne      g/t
---------------------------------------------------------------------------
BRA10-012       1 163.20 164.50   1.30 0.44 0.05 0.02 0.10 0.88 0.00   0.98
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BRA10-012       2 226.20 229.80   3.60 1.32 0.84 0.06 0.63 3.47 0.05   4.15
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BRA10-015       No Significant Results                                     
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BRA10-016       1 222.70 223.80   1.10 0.62 1.42 0.04 0.52 3.05 0.05   3.62
---------------------------------------------------------------------------
BRA10-017       1 181.00 182.00   1.00 0.43 0.23 0.02 0.21 0.54 0.01   0.76
---------------------------------------------------------------------------
BRA10-018       1 125.10 125.95   0.85 0.13 0.26 0.01 0.24 0.63 0.04   0.91
---------------------------------------------------------------------------
NOTE: 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                                                           
---------------------------------------------------------------------------


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Table 4. Drillholes collar coordinates and details 2010 - Bravo B4 Deposit 
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                      UTM                        Elev- Length              
HOLE ID       Datum  Zone   Easting  Northing   ation      (m)  Dip Azimuth
---------------------------------------------------------------------------
BRA10-012   NAD1983    18  519450.6 6814000.7   456.0  253.64   -55     180
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BRA10-015   NAD1983    18  519450.6 6814001.1   456.0  354.17   -65     180
---------------------------------------------------------------------------
BRA10-016   NAD1983    18  519591.0 6813988.5   446.7  245.00   -50     180
---------------------------------------------------------------------------
BRA10-017   NAD1983    18  519590.7 6813989.3   446.7  296.00   -65     180
---------------------------------------------------------------------------
BRA10-018   NAD1983    18  519710.8 6813929.5   438.5  149.00   -45     180
---------------------------------------------------------------------------



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.