Gold Reach Resources Ltd.
888 - 700 West Georgia St.
Vancouver, BC  V7Y 1G5
(the "Company")

NEWS RELEASE

May 30, 2006

VANCOUVER, BRITISH COLUMBIA May 30, 2006: The Board of Directors of Gold Reach Resources Ltd. (the “Company”) have negotiated a non-brokered private placement of 7.0 million flow-through units at a price of $0.12 per unit, (the “Flow-Through Units”), and 1.0 million non-flow-through units at a price of $0.10 per unit, (the “Non-Flow-Through Units”).

The Flow-Through Units will consist of one flow-through common share and one-half of one non-transferable share purchase warrant with each whole warrant exercisable into one non-flow-through common share at a price of $0.15 for a period of eighteen months from the date of closing. The flow-through shares will qualify for additional tax benefits for BC residents.

The Non-Flow-Through Units will consist of one non-flow-through common share and one non-transferable share purchase warrant exercisable into one non-flow-through common share at a price of $0.15 for a period of 24 months from the date of closing.

The net proceeds from the placement will be used for general working capital and to conduct additional geophysics and drilling on the copper-gold-molybdenum porphyry system and on the Damascus Silver Vein located on the Seel Property. The Seel Property is located 120km south of the town of Houston, BC and is 8km east of the Huckleberry Mine.

At the completion of the last drill program a total of 32 holes (6,600 m to date -- please refer to Stockwatch news March 10, 2006) have now been drilled on the Seel Property by Gold Reach with a majority of holes intersecting significant widths of mineralization. The currently defined copper-gold-molybdenum mineralizing system extends approximately one kilometre in length by 500 m in width and from surface to greater than 200 m in depth.

The preceding transaction is subject to TSX prior acceptance.

A finder’s fee will be payable where applicable.

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.