Gold Reach Resources Ltd.
8th floor, 700 West Georgia St.
Vancouver, BC  V7Y 1H4
(the "Company")

NEWS RELEASE

January 21, 2005

VANCOUVER, BRITISH COLUMBIA – The Board of Directors are pleased to report that the TSX Venture Exchange has accepted the Company’s application to transfer its listing from NEX to TSX-V. Effective at the opening on January 21, 2005, the trading symbol for the Company has changed from GRH.H to GRH.

In addition, further to the TSX Bulletin of December 17, 2004, the Company is also pleased to report the completion of the second traunch of a non-brokered private placement pursuant to which the Company has issued an aggregate of 4,035,000 Units at a price of $0.10 per Unit; 3,740,000 Units have been issued on a flow-through basis (“Flow-Through Units”), the balance of 295,000 Units are non flow-through (“Non Flow-Through Units”). The Flow-Through Units consist of one (1) flow-through share (“Flow-Through Share”) and one (1) warrant exercisable on the basis of two (2) warrants and $0.15 are exchangeable for a period of one (1) year into one (1) Non Flow-Through Share; the Non Flow-Through Units consists of one (1) Non Flow-Through Share and one (1) warrant exercisable on the basis of one (1) warrant and $0.15 is exchangeable for a period of two (2) years into one (1) Non Flow-Through Share. 2,900,000 of the aforementioned warrants will expire on December 14, 2005 and 100,000 will expire on December 14, 2006; the balance of 1,035,000 warrants will expire as follows: 840,000 will expire on January 21, 2006 and 195,000 will expire on January 21, 2007. In addition, shares issued pursuant to this Placement Placement, including any shares issued as a result of the exercise of underlying warrants will be subject to a four month hold period expiring as follows: the hold period on 3.0 million shares will expire on April 14, 2005; the balance of 1,035,000 shares will have a hold period expiring May 15, 2005.

Canaccord Capital Corp. has been paid a fee of 10% cash ($18,000) and 180,000 Agents B Warrants; Union Securities Ltd. has been paid a fee of 10% cash ($1,750), 22,500 Agents Shares and 40,000 Agents B Warrants and Bolder Investments has been paid a fee of 50,000 Agents Shares and 50,000 Agents B Warrants for their services in connection with this offering.

ON BEHALF OF THE BOARD OF DIRECTORS

Conrad Swanson, President

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.