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

NEWS RELEASE

March 8, 2005

VANCOUVER, BRITISH COLUMBIA – Further to the Company’s news release of February 17, 2005, the Board of Directors of Gold Reach Resources Ltd. (the “Company”) are pleased to announce the closing of a private placement of 1,920,000 Units at $0.20 per Unit netting the Company proceeds of $384,000; increased from $300,000 as originally announced.

Pursuant to the terms of the private placement, each Unit consists of One (1) Flow-Through Share and One (1) Share Purchase Warrant; each Warrant is exercisable into Non Flow-Through Shares at the exercise price of $0.30 per Warrant exercised for a period of One (1) year.

Canaccord Capital Corp. and Union Securities Ltd. will respectively receive a fee of $8,000 cash and 40,000 Agents Warrants and $800 cash and 4,000 Agents Warrants. Shares issued as a result of this Private Placement, including shares issued on the exercise of Warrants, will be subject to a four month hold period expiring July 9th, 2005.

ON BEHALF OF THE BOARD OF DIRECTORS
GOLD REACH RESOURCES LTD.

“Mike Sieb” 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.