Option to Purchase Geko Gold Project

 
TIDMGGG 
 
24 January 2012 
 
                               GGG Resources plc 
 
                           (the "Company" or "GGG") 
 
              Option to Purchase Geko Gold Project, Coolgardie WA 
 
The Bullabulling Joint Venture partners, GGG Resources plc ("GGG") and Auzex 
Resources Limited ("Auzex"), and the newly incorporated Bullabulling Gold 
Limited ("BBG") have today executed an Option to Purchase Agreement to acquire 
100% of the Geko Gold Project, located approximately 17km north of the 
Bullabulling Gold Project near Coolgardie in the eastern goldfields of Western 
Australia. 
 
Exploration drilling undertaken during the 1990's by Newcrest and others 
successfully intersected gold mineralisation that can be correlated with the 
same sequence of lithologies which host the Bullabulling gold deposit. The 
Joint Venture considers the transaction to offer significant exploration 
potential for gold mineralisation that may be complimentary to a future mining 
operation currently under pre-feasibility at Bullabulling. Recently acquired 
airborne magnetic data and proprietary structural interpretation of the 
regional geology has provided the impetus for this development. 
 
The key terms of the Sale and Purchase agreement are summarised as follows: 
 
  * 100% acquisition of Mining Lease M15/621 
 
  * Option Fee: $200,000 
 
  * Option Period : six months from the date of the agreement 
 
  * Purchase price: $3.0 million composed of: 
 
  * 
      + $0.5 million cash 
 
      + At the election of BBG - paying the remainder in cash or BBG scrip 
        based on a 5 day VWAP immediately prior to the purchase 
 
      + Production royalty of $10 per ounce for all gold sold from the tenement 
 
There is a considerable database available from previous explorers, and it is 
the intention of the Joint Venture to compile the data to provide drill targets 
that can be tested during the option period. Gold mineralisation is known at 
Geko, but is not JORC compliant and therefore cannot be published, but the 
opportunity that the Joint Venture anticipates is the exploration potential for 
a significant gold target, which can be mined and hauled to Bullabulling for 
processing. 
 
Contacts: 
 
David McArthur                          David Brook 
 
GGG Resources plc (Australia)           Professional Public Relations 
                                        (Australia Media) 
41 Stirling Highway 
                                        Email: [e-mail] 
Nedlands, WA, 6009 
                                        Tel: [phone] 
Australia 
 
Tel: [phone] 
 
Dr. Jeffrey Malaihollo                  Westhouse Securities Limited 
 
Managing Director, GGG Resources plc    (UK Nominated Adviser) 
(UK) 
                                        Tom Price / Martin Davison 
Email: [e-mail] 
                                        Tel: [phone] 
Tel: [phone] 
 
Neil Boom                               Collins Stewart Europe Limited (Broker) 
 
MD, Gresham PR Ltd (UK media)           John Prior / Adam Miller 
 
Tel: [phone]                   Tel: [phone] 
 
Email:[e-mail] 
 
 
 
END