Gryphon to Report New Resource Calculation

VANCOUVER, BC - Gryphon Gold Corporation reported its updated CIM compliant, NI 43-101 gold resource report for the Borealis property by the end of April 2008.
It is anticipated these results will considerably improve the opportunity to develop a viable mine plan for the heap leach operation of the oxide portion of the gold deposit. As well, the results are expected to support the potential for developing an underground mine in the higher-grade sulphide zones of the Graben deposit. An update of the heap-leach feasibility study for the oxide mine is in progress and a scoping study for a higher-grade underground mine in the Graben gold deposit will be commissioned shortly.
Gryphon Gold has also completed the interpretation of the 2007 pediment exploration drilling program combined with subsequent Induced Polarization/Resistivity surveys and the Controlled Source Audio-Frequency Magnetotelluric (CSAMT) surveys. The results suggest that the initial drilling that discovered the very thick (up to 1,450 ft) zones of anomalous gold and alteration at several points in the Western pediments may be on the margins of higher-grade gold systems.
"With the incorporation of the successful 2007 drilling results, we anticipate a substantial increase in our gold resource totals when compared to the previously reported resources," says Gryphon Gold CEO Tony Ker.
Gryphon Gold's principal gold is resource, the 1.2 million (measured and indicated) and 0.6 million (inferred) ounce Borealis deposit, located in the Walker Lane gold belt of western Nevada. The Borealis gold system is one of the largest known volcanic-hosted high-sulphidation gold-bearing mineralized systems in Nevada.
Nevada Eagle Resources, a wholly owned subsidiary, has over 50 highly prospective gold properties located in gold trends in Nevada.
The company's address is Suite 810-1130 W. Pender St., Vancouver, BC V6E 4A4, 888.261.2229, fax: 604.608.3262.