Goldbrook Receives NI 43-101 Compliant Technical Report and Resource Estimates for Six Deposits along the Belanger Trend: the My

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


Goldbrook Ventures Inc. ("Goldbrook") (TSX VENTURE:GBK) has received, and will
file on SEDAR, a NI 43-101 compliant report titled, "Technical Report and
Resource Estimates for the Bravo, Getty, Mystery, Pad, Sylvie and Timtu Deposits
of the Raglan Property, Nunavik, Quebec". These deposits are part of the
Goldbrook Ventures Inc and Jilin Jien Nickel Industry Co Ltd, Option-Joint
Venture project on the Raglan Belt, Ungava, northern Quebec. These resources
compliment and are in addition to previously released (GBK April 10, 2010)
details of the Ni-Cu-PGE sulphide assets within the adjoining Nunavik Nickel
Project of Jien Canada Mining Ltd. which is owned by Goldbrook Ventures Inc. and
Jilin Jien Nickel Industry Co., Ltd. (see 'about Goldbrook' below). 


Goldbrook Ventures Inc. engaged P&E Mining Consultants Inc., ("P&E"), of
Brampton, Ontario to carry out an independent, NI 43-101 compliant resource
estimates for the Bravo, Getty, Mystery, Pad, Sylvie and Timtu Deposits ("the
Property"). The undertaking of these resource estimates included a review of the
geology, exploration history, description of the deposit types and other
information relevant to understanding the geology and exploration programs
carried out on the Property. In the course of this work P&E also completed a
full audit of Goldbrook's drilling and drillcore assay database. Data generated
as a result of the 2010 exploration program has not been included in these
resource estimates. Goldbrook is P&E's client for the purposes of generating
this press release and subsequent NI 43-101 technical report.


The resource estimates for all of the six deposits were completed by P&E to
current and compliant NI 43-101 reporting standards for mineral resource
disclosure. 


All metal prices were derived from the prevailing 36 month trailing average as
of September 30, 2010. Resources are reported in the Indicated and Inferred
categories both within an optimized pit shell and with an underground component.
The C$NSR cut-off values are C$40/tonne for the optimized pit component and
C$120/tonne for the underground component. 


These six deposits are stretched out along a linear east-west trend
approximately 30km in length commonly referred to as the Belanger Trend. Each
resource was estimated individually using Inverse Distance Cubed (1/d3)
weighting of composited values, derived from a database containing 528
drillholes across the property. The average spacing of the drillholes in the
individual project areas is in the order of 25m.




Current Resources Estimated for the Raglan Project using NSR cut-off values
of C$40/tonne for open pit and C$120/tonne underground.

-------------------                                                        
INDICATED RESOURCES                                                        
---------------------------------------------------------------------------
                   Tonnes x                                                
Source  Deposit        1000    Ni %    Cu %    Co %  Au ppm  Pt ppm  Pd ppm
---------------------------------------------------------------------------
Pit     Bravo           325    0.81    0.94    0.04    0.06    0.29    1.45
---------------------------------------------------------------------------
Pit     Getty          1139    0.61    0.44    0.03    0.04    0.21    0.70
---------------------------------------------------------------------------
Pit     Mystery        3086    0.59    0.73    0.03    0.09    0.37    1.55
---------------------------------------------------------------------------
Pit     Pad             237    0.69    0.49    0.03    0.03    0.24    0.97
---------------------------------------------------------------------------
Pit     Timtu           525    0.27    0.41    0.02    0.05    0.14    0.65
---------------------------------------------------------------------------
        Total Pit      5312    0.58    0.64    0.03    0.07    0.30    1.25
---------------------------------------------------------------------------
                                                                           
---------------------------------------------------------------------------
UG      Mystery         218    0.71    1.05    0.04    0.13    0.67    2.66
---------------------------------------------------------------------------
UG      Sylvie          111    1.37    0.91    0.06    0.05    0.42    1.38
---------------------------------------------------------------------------
        Total UG        329    0.93    1.00    0.04    0.10    0.58    2.23
---------------------------------------------------------------------------
        Total                                                              
        Indicated      5641    0.60    0.66    0.03    0.07    0.32    1.31
---------------------------------------------------------------------------
                                                                           
-------------------                                                        
INFERRED RESOURCES                                                         
---------------------------------------------------------------------------
                   Tonnes x                                                
Source  Deposit        1000    Ni %    Cu %    Co %  Au ppm  Pt ppm  Pd ppm
---------------------------------------------------------------------------
Pit     Bravo           273    0.61    0.59    0.03    0.06    0.24    1.40
---------------------------------------------------------------------------
Pit     Getty           356    0.59    0.40    0.03    0.02    0.19    0.63
---------------------------------------------------------------------------
Pit     Mystery         982    0.49    0.54    0.03    0.07    0.30    1.32
---------------------------------------------------------------------------
        Total Pit      1611    0.53    0.52    0.03    0.06    0.27    1.18
---------------------------------------------------------------------------
                                                                           
---------------------------------------------------------------------------
UG      Mystery         166    0.81    0.88    0.05    0.13    0.52    2.17
---------------------------------------------------------------------------
        Total UG        166    0.81    0.88    0.05    0.13    0.52    2.17
---------------------------------------------------------------------------
        Total                                                              
        Indicated      1777    0.56    0.55    0.03    0.06    0.29    1.27
---------------------------------------------------------------------------

1.  Mineral resources which are not mineral reserves do not have
    demonstrated economic viability. The estimate of mineral resources may
    be materially affected by environmental, permitting, legal, title,
    taxation, socio-political, marketing, or other relevant issues. 

2.  The quantity and grade reported in this inferred resource estimation are
    conceptual in nature and there has been insufficient exploration to
    define an indicated mineral resource on the property and it is uncertain
    if further exploration will result in discovery of an indicated or
    measured mineral resource on the property.

3.  The US$ metal prices utilized in this resource estimate were Ni
    $8.92/lb, Cu $2.93/lb, Co $20/lb, Au $975/oz, Pt $1,443/oz and Pd
    $354/oz. The C$/US$ exchange rate was $0.95. 

4.  Process recoveries were Ni 82% Cu 97%, Co 50%, Au 50%, Pt 52% and Pd
    92%. 

5.  The open pit NSR cut-off of C$40/tonne was comprised of C$25/tonne
    processing and C$15/tonne G&A. The underground NSR cut-off of
    C$120/tonne was comprised of C$80/tonne mining, C$25/tonne processing
    and C$15/tonne G&A. Open pit mining costs were C$5/tonne ore and
    C$3.50/tonne waste. Open pits were optimized with 50 degree slopes.



The mineral resources in these estimates were calculated using the Canadian
Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral
Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing
Committee on Reserve Definitions and adopted by CIM Council December 11, 2005.


Quality Assurance/Quality Control

Goldbrook implemented a strict quality assurance/quality control ("QA/QC")
program for all diamond drill programs, (earlier programs carried out by other
operators that led to the discovery of the Bravo and Getty Deposits also
implemented quality control programs). Certified reference materials, blanks,
and field, coarse reject and pulp duplicates were inserted into the sample
stream to monitor accuracy, contamination and precision at the lab. Samples were
prepped at one of the ALS Chemex Laboratories, and pulps were sent to the
Vancouver, British Columbia lab where they underwent nickel, copper and cobalt
analyses using an aqua-regia digest with an ICP-AES finish, and gold, platinum
and palladium analyses using fire assay and ICP-AES finish. ALS Chemex
Laboratories is an internationally recognized minerals testing laboratory
operating in 16 countries and has an ISO 9001:2000 certification. The laboratory
in Vancouver has also been accredited to ISO 17025 standards for specific
laboratory procedures by the Standards Council of Canada (SCC).


All of the deposits of the Raglan Project occur within what has been
historically referred to as the Southern Raglan horizon, within the Cape Smith
Belt (Raglan) which is interpreted as a foreland thrust-fold belt that
constitutes the north-eastern extension of the Trans-Hudson Orogen, an early
Proterozoic collision zone which separates the Archean Superior Province from
the Proterozoic Churchill Province. The Trans-Hudson Orogen also includes the
Thompson Nickel Belt in Manitoba and the New Quebec Orogen (Labrador Trough) on
the opposite sides of the Superior Province. The Cape Smith Belt extends for
about 375 km in an east-west direction across the Ungava Peninsula of Nunavik.


Together, Goldbrook and Jien Canada Mining control mineral tenure over most of
the Southern Raglan horizon and much of the Northern Raglan horizon where the
Xstrata Nickel Plc. mines are located, and the new mine of Jien Canada Mining is
currently being developed. 


Mr. Antoine Yassa, P. Geo., a qualified person under the terms of NI 43-101,
conducted the most recent site visit to the Property from August 25 to 28, 2009.
An independent verification sampling program was conducted by Mr. Yassa at that
time.


Mr. Fred Brown, CPG, Ms. Tracy Armstrong, P. Geo. and Mr. Eugene Puritch, P.Eng.
of P&E, all of whom are independent Qualified Persons as defined in NI 43-101,
have reviewed and approved the scientific or technical information in 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.