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Golden Reign Resources Ltd.: Massive Sulphide Mineralization Discovered at San Pablo, San Pablo Trenching Returns 4.0 Metres of 5.77 g/t Gold

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/24/13 -- Golden Reign Resources Ltd. (TSX VENTURE:GRR) (the "Company" or "Golden Reign") is pleased to provide additional results from the San Pablo Zone in the Southern District of its San Albino-Murra Property (the "Property") located in Nueva Segovia, Nicaragua.

San Pablo Exploration Pits

In 2012, two exploration pits (see Table 1 below and attached map) were excavated to expose the mineralized veins intersected by trenching along strike and down dip in trenches SP11-TR-02 and SP11-TR-04. Samples collected across the true thickness of the intersected veins returned values ranging from 3.46 g/t to 28.29 g/t gold and 0.21 g/t to 3.75 g/t gold for trenches SP11-TR-02 and SP11-TR-04, respectively.

The exploration pit at SP11-TR-02 exposed structurally controlled, heavily mineralized sulphide masses (bodies) intercalated with quartz veins. These bodies carry significant gold values ranging from 1.50 g/t to 31.78 g/t gold with gold mineralization appearing to be more uniformly distributed. This is a new style of mineralization, significantly different from the quartz veins mineralization found at other prospects throughout the Property.

Trenching

Trenching has outlined 4 parallel NE/SW trending structurally controlled mineralized zones (see Table 2 below and attached map) ranging from 300 to 1,500 metres in length, located approximately 1.5 kilometres south of the San Albino Gold Deposit and covering a 2.5 square kilometre area.

The San Pablo Zone, outlined by the most northern set of trenches, has been traced at surface over a strike length of 300 metres and remains open along strike in both directions and down dip. In 2011, a total of 237 samples were collected from 6 trenches (SP11-TR-01 through SP11-TR-06) spaced approximately 50 metres apart (see news releases dated May 2, 2011 and May 19, 2011). Newly excavated Trench SAM12-TR-09 has expanded the dip direction of the mineralized structures by 50 metres.

Highlights from trenching completed to date include:


--  SAM12-TR-09 4.0 metres averaging 5.77 g/t gold and 10.3 g/t silver 
--  SP11-TR-01 1.0 metre averaging 6.68 g/t gold and 5.2 g/t silver
     and 1.0 metre averaging 1.11 g/t gold, minor silver  
--  SP11-TR-02 8.5 metres averaging 8.94 g/t gold and 5.2 g/t silver
     including 4.5 metres averaging 15.26 g/t gold and 8.6 g/t silver 
--  SP11-TR-03 6.5 metres averaging 1.80 g/t gold, minor silver
     including 1.0 metre averaging 6.54 g/t gold and 11.6 g/t silver 
--  SP11-TR-04 16.0 metres averaging 6.25 g/t gold and 5.1 g/t silver
     including 9.0 metres averaging 6.51 g/t gold, minor silver
     and 3.0 metres averaging 13.14 g/t gold and 5.9 g/t silver 
--  SP11-TR-05 3.0 metres averaging 9.19 g/t gold, minor silver

Significantly, the mineralized zones within all seven trenches consisted of intercalated quartz and schist, not just quartz veins. Gold mineralization, ranging from under 1 g/t to 37.37 g/t gold, occurs not only in mineralized veins but also in the surrounding phyllite. Trench SAM12-TR-09 returned values from 1.66 g/t to 20.41 g/t gold within the quartz vein and 2.85 g/t to 6.48 g/t gold within the host rock (weathered phyllite). Samples collected from weathered wall rock within the trenches returned high gold values, ranging from 1.11 g/t to 20.60 g/t gold. This style of mineralization is the same as that at the San Albino Gold Deposit, where thicker intersections in drill core consist of anastomising quartz veins in schist.

The Company has identified 5 priority drill targets within the San Pablo Zone for testing during its planned 2013 drilling program.


---------------------------------------------------------------------------
                  Table 1 - 2012 EXPLORATION PITS SAMPLES                  
---------------------------------------------------------------------------
Exploration             Width                                    Au     Ag 
Pit           Sample #    (m)  Sample Type     Rock Type       (g/t)  (g/t)
---------------------------------------------------------------------------
EP-SP11-TR-02    72710   1.00  Dip             Heavy sulphide  31.78   19.6
                                               mineralized                 
                                               quartz vein                 
---------------------------------------------------------------------------
EP-SP11-TR-02    72711   1.00  Dip             Heavy sulphide  31.09   19.8
                                               mineralized                 
                                               quartz vein                 
---------------------------------------------------------------------------
EP-SP11-TR-02    72712   1.00  Dip             Heavy sulphide  10.03   14.6
                                               mineralized                 
                                               quartz vein                 
---------------------------------------------------------------------------
EP-SP11-TR-02    72713   1.00  Dip             Heavy sulphide   1.50    1.9
                                               mineralized                 
                                               quartz vein                 
---------------------------------------------------------------------------
EP-SP11-TR-02    72715   1.00  Dip             Heavy sulphide  17.98   18.2
                                               mineralized                 
                                               quartz vein                 
---------------------------------------------------------------------------
EP-SP11-TR-02    72717   1.00  Dip             Heavy sulphide  13.23    9.8
                                               mineralized                 
                                               quartz vein                 
---------------------------------------------------------------------------
EP-SP11-TR-02    72718   1.00  Dip             Heavy sulphide   6.97    4.5
                                               mineralized                 
                                               quartz vein                 
---------------------------------------------------------------------------
EP-SP11-TR-02    72720   1.00  Dip             Heavy sulphide  10.46    3.6
                                               mineralized                 
                                               quartz vein                 
---------------------------------------------------------------------------
EP-SP11-TR-02    72722   1.50  True Thickness  Heavy sulphide   5.11    1.3
                                               mineralized                 
                                               quartz vein                 
---------------------------------------------------------------------------
EP-SP11-TR-02    72723   2.00  True Thickness  Heavy sulphide   5.21    3.3
                                               mineralized                 
                                               quartz vein                 
---------------------------------------------------------------------------
EP-SP11-TR-02    72724   2.00  True Thickness  Heavy sulphide  10.02    7.4
                                               mineralized                 
                                               quartz vein                 
---------------------------------------------------------------------------
EP-SP11-TR-02    72725   1.50  True Thickness  Heavy sulphide   3.46    4.7
                                               mineralized                 
                                               quartz vein                 
---------------------------------------------------------------------------
EP-SP11-TR-02    72726   1.50  True Thickness  Heavy sulphide   4.36    3.7
                                               mineralized                 
                                               quartz vein                 
---------------------------------------------------------------------------
EP-SP11-TR-02    72727   1.50  True Thickness  Heavy sulphide  28.29   12.2
                                               mineralized                 
                                               quartz vein                 
---------------------------------------------------------------------------
EP-SP11-TR-04   142822   1.00  Dip             Qtz vein with    1.17    2.5
                                               sulphides,                  
                                               galena, aspy,               
                                               py                          
---------------------------------------------------------------------------
EP-SP11-TR-04   142823   1.00  Dip             Qtz vein with    1.17    7.3
                                               sulphides,                  
                                               galena, aspy,               
                                               py                          
---------------------------------------------------------------------------
EP-SP11-TR-04   142824   1.00  Dip             Qtz vein with    6.86    1.2
                                               sulphides,                  
                                               galena, aspy,               
                                               py                          
---------------------------------------------------------------------------
EP-SP11-TR-04   142825   1.00  Dip             Qtz vein with    0.62    0.9
                                               sulphides,                  
                                               galena, aspy,               
                                               py                          
---------------------------------------------------------------------------
EP-SP11-TR-04   142826   1.00  Dip             Qtz vein with    0.61    1.5
                                               sulphides,                  
                                               galena, aspy,               
                                               py                          
---------------------------------------------------------------------------
EP-SP11-TR-04   142827   1.00  Dip             Qtz vein with    0.60    1.0
                                               sulphides,                  
                                               galena, aspy,               
                                               py                          
---------------------------------------------------------------------------
EP-SP11-TR-04   142828   1.50  Dip             Phyllites       10.67    6.1
---------------------------------------------------------------------------
EP-SP11-TR-04   142829   2.00  True Thickness  Qtz vein with    3.75    6.2
                                               sulphides,                  
                                               galena, aspy,               
                                               py                          
---------------------------------------------------------------------------
EP-SP11-TR-04   142830   1.50  True Thickness  Qtz vein with    0.70    1.2
                                               sulphides,                  
                                               galena, aspy,               
                                               py                          
---------------------------------------------------------------------------
EP-SP11-TR-04   142831   1.50  Duplicate of    Qtz vein with    2.21    4.7
                               142830          sulphides,                  
                                               galena, aspy,               
                                               py                          
---------------------------------------------------------------------------
EP-SP11-TR-04   142832   2.00  True Thickness  Qtz vein with    1.21    2.7
                                               sulphides,                  
                                               galena, aspy,               
                                               py                          
---------------------------------------------------------------------------
EP-SP11-TR-04   142833   2.00  True Thickness  Qtz vein with    0.82    3.2
                                               sulphides,                  
                                               galena, aspy,               
                                               py                          
---------------------------------------------------------------------------
EP-SP11-TR-04   142834   1.00  Dip             Qtz vein with    0.60    1.1
                                               sulphides,                  
                                               galena, aspy,               
                                               py                          
---------------------------------------------------------------------------
EP-SP11-TR-04   142835   1.00  Dip             Qtz vein with    1.07    1.1
                                               sulphides,                  
                                               galena, aspy,               
                                               py                          
---------------------------------------------------------------------------
EP-SP11-TR-04   142836   1.50  True Thickness  Qtz vein with    0.29    1.8
                                               sulphides,                  
                                               galena, aspy,               
                                               py                          
---------------------------------------------------------------------------
EP-SP11-TR-04   142837   2.00  True Thickness  Qtz vein with    1.53    2.0
                                               sulphides,                  
                                               galena, aspy,               
                                               py                          
---------------------------------------------------------------------------
EP-SP11-TR-04   142838   1.50  True Thickness  Qtz vein with    0.21    0.6
                                               sulphides,                  
                                               galena, aspy,               
                                               py                          
---------------------------------------------------------------------------
---------------------------------------------------------------------------
              Table 2 - 2011 - 2012 SAN PABLO TRENCHES RESULTS             
---------------------------------------------------------------------------
                        Width                                    Au     Ag 
Trench        Sample #    (m)  Sample Type     Rock Type       (g/t)  (g/t)
---------------------------------------------------------------------------
SP11-TR-01      172606    1.0  Vertical        Phyllites with   1.44    0.1
                                               qtz veinlets                
---------------------------------------------------------------------------
SP11-TR-01      172678    1.0  Floor           Intercalated     6.68    5.2
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-01      172682    1.0  Strike          Intercalated     4.22    4.1
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-01      172683    1.0  Strike          Intercalated     1.02    1.2
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-01      172686    1.0  Strike          Intercalated     2.10    1.2
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-01      172691    1.0  Floor           Phyllites with   1.11    0.3
                                               qtz veinlets                
---------------------------------------------------------------------------
SP11-TR-02      172735    0.8  Strike          Intercalated     5.65    5.5
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-02      172736    0.8  Strike          Intercalated    37.37   21.7
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-02      172737    0.8  Strike          Intercalated     5.51    4.0
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-02      172738    0.8  Strike          Intercalated     6.23    8.3
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-02      172739    0.8  Strike          Intercalated    21.73    6.6
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-02      172740    0.8  Strike          Intercalated    11.15    5.4
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-02      172858    1.0  Floor           Intercalated     3.59    3.3
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-02      172859    1.0  Floor           Intercalated     0.85    0.8
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-02      172860    1.5  Floor           Intercalated    13.67    8.5
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-02      172861    1.0  Floor           Intercalated    12.53   10.8
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-02      172862    1.0  Floor           Intercalated    15.40    8.9
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-02      172863    1.0  Floor           Intercalated    20.24   10.3
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-02      172865    1.0  Floor           Intercalated     2.75    1.0
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-02      172882    1.0  Vertical        Phyllites with  20.60    7.9
                                               qtz veinlets                
---------------------------------------------------------------------------
SP11-TR-02      172883    1.0  Vertical        Phyllites with   6.74    4.7
                                               qtz veinlets                
---------------------------------------------------------------------------
SP11-TR-02      172884    1.0  Vertical        Phyllites with   2.50    1.7
                                               qtz veinlets                
---------------------------------------------------------------------------
SP11-TR-02      172885    1.5  Vertical        Phyllites with   3.09    1.7
                                               qtz veinlets                
---------------------------------------------------------------------------
SP11-TR-03      172621    1.0  Floor           Intercalated     3.07    0.8
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-03      172623    0.7  Strike          Intercalated     2.37    2.3
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-03      172624    0.7  Strike          Intercalated     1.28    2.4
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-03      172625    1.0  Floor           Phyllites with   6.54   11.6
                                               qtz veinlets                
---------------------------------------------------------------------------
SP11-TR-03      172628    1.0  Floor           Fault material   1.11    0.4
                                               with quartz                 
                                               material                    
---------------------------------------------------------------------------
SP11-TR-04      172702    1.0  Floor           Phyllites with  18.99    5.7
                                               qtz veinlets                
---------------------------------------------------------------------------
SP11-TR-04      172703    1.0  Floor           Phyllites with   7.08    4.4
                                               qtz veinlets                
---------------------------------------------------------------------------
SP11-TR-04      172704    1.0  Floor           Phyllites with   7.71    6.9
                                               qtz veinlets                
---------------------------------------------------------------------------
SP11-TR-04      172705    1.0  Floor           Phyllites with   7.01    6.9
                                               qtz veinlets                
---------------------------------------------------------------------------
SP11-TR-04      172706    1.0  Floor           Phyllites with   7.66    7.2
                                               qtz veinlets                
---------------------------------------------------------------------------
SP11-TR-04      172707    1.0  Floor           Intercalated     1.00    9.0
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-04      172708    1.0  Floor           Intercalated     5.22    7.4
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-04      172709    1.0  Floor           Intercalated     2.00    3.7
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-04      172710    1.0  Floor           Intercalated     1.92    4.5
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-04      172713    1.0  Strike          Intercalated     2.44    2.0
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-04      172714    1.0  Strike          Intercalated     1.48    1.0
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-04      172716    1.0  Strike          Intercalated     1.04    1.6
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-04      172718    1.0  Floor           Intercalated     5.40    4.5
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-04      172719    1.0  Floor           Intercalated    32.10   11.6
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-04      172720    1.0  Floor           Intercalated    15.78   18.4
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-04      172721    1.0  Floor           Intercalated     8.25    3.0
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-04      172722    1.0  Floor           Intercalated     1.92    1.6
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-04      172730    1.0  Vertical        Disturbed area   8.09   10.3
                                               with quartz                 
                                               fragments                   
---------------------------------------------------------------------------
SP11-TR-05      172755    1.0  Floor           Intercalated     7.20    2.0
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-05      172756    1.0  Floor           Intercalated    15.77    5.9
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-05      172757    1.0  Floor           Intercalated     4.59    0.1
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SP11-TR-05      172760    0.8  Strike          Intercalated     4.03    1.2
                                               quartz and                  
                                               schists                     
---------------------------------------------------------------------------
SAM12-TR-09     142443    1.0  Floor           Quartz vein      4.14    4.3
                                               with sulphides              
---------------------------------------------------------------------------
SAM12-TR-09     142444    1.0  Floor           Quartz vein      2.97    5.6
                                               with sulphides              
---------------------------------------------------------------------------
SAM12-TR-09     142445    1.0  Floor           Quartz vein      3.37    4.0
                                               with sulphides              
---------------------------------------------------------------------------
SAM12-TR-09     142446    1.0  Floor           Quartz vein     11.62   17.6
                                               with sulphides              
---------------------------------------------------------------------------
SAM12-TR-09     142447    1.0  Floor           Quartz vein      1.66    5.4
                                               with sulphides              
---------------------------------------------------------------------------
SAM12-TR-09     142448    1.0  Floor           Quartz vein      7.40    9.4
                                               with sulphides              
---------------------------------------------------------------------------
SAM12-TR-09     142451    1.0  Floor           Quartz vein      3.55    8.6
                                               with sulphides              
---------------------------------------------------------------------------
SAM12-TR-09     142452    1.0  Floor           Duplicate of     7.61   15.2
                                               sample 142451               
---------------------------------------------------------------------------
SAM12-TR-09     142453    1.0  Floor           Quartz vein      9.75   14.8
                                               with sulphides              
---------------------------------------------------------------------------
SAM12-TR-09     142454    1.3  Floor           Quartz vein     20.41   22.2
                                               with sulphides              
---------------------------------------------------------------------------
SAM12-TR-09     142455    1.7  Floor           Quartz vein      3.87    7.6
                                               with sulphides              
---------------------------------------------------------------------------
SAM12-TR-09     142456    1.0  Strike          Quartz vein      6.66    5.9
                                               with sulphides              
---------------------------------------------------------------------------
SAM12-TR-09     142457    1.0  Strike          Quartz vein      4.96    8.9
                                               with sulphides              
---------------------------------------------------------------------------
SAM12-TR-09     142458    1.0  Strike          Quartz vein      5.73   12.8
                                               with sulphides              
---------------------------------------------------------------------------
SAM12-TR-09     142459    1.0  Strike          Quartz vein      5.73   13.7
                                               with sulphides              
---------------------------------------------------------------------------
SAM12-TR-09     142461    1.0  Strike          Quartz vein      5.56   13.8
                                               with sulphides              
---------------------------------------------------------------------------
SAM12-TR-09     142463    1.0  Vertical        weathered        6.48    8.0
                                               phyllites with              
                                               qtz lenses                  
---------------------------------------------------------------------------
SAM12-TR-09     142464    1.0  Vertical        weathered        2.85    5.7
                                               phyllites with              
                                               qtz lenses                  
---------------------------------------------------------------------------

Note: Table 2 provides assay results for samples grading 1.0 g/t gold or greater.

Qualified Person

John M. Kowalchuk, P.Geo, a geologist and Company qualified person (as defined under NI 43-101) has read and approved the technical information contained in this news release on behalf of the Company.

On behalf of the Board,

Kim Evans, CGA, President & CEO

About Golden Reign:

Golden Reign Resources Ltd. is a publicly listed (TSX VENTURE:GRR) mineral exploration company engaged in exploring the San Albino-Murra Property and the El Jicaro Property, both of which are located in Nueva Segovia, Nicaragua.

The Company's land package comprises 13,771 hectares (138 km2) of highly prospective ground. Hundreds of historical mines and workings exist within the Corona de Oro Gold Belt, which is approximately 3 kilometres wide by 20 kilometres long and spans the entirety of the Company's land package.

For additional information please visit our website at www.goldenreign.com and SEDAR www.sedar.com.

Forward-Looking Statements: Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Such forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to political risks involving the Company's exploration and development of mineral properties interests, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and uncertainties. Such information contained herein represents management's best judgment as of the date hereof, based on information currently available.

To view the maps accompanying this press release please click the following link: http://media3.marketwire.com/docs/GRMaps124.pdf

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Golden Reign Resources Ltd.
Kim Evans, CGA
President & CEO
(604) 685-4655 or Toll Free: 1-888-685-4655
(604) 685-4675 (FAX)
www.goldenreign.com

About Marketwired .
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