Goldrich Completes Mobilization At Chandalar

SPOKANE, WA - Goldrich Mining Company reported that Goldrich NyacAU Placer, LLC GNP, has successfully completed mobilizing the mining equipment to begin mining operations this summer at Chandalar, Alaska. GNP is a 50/50 joint-venture company formed by Goldrich and NyacAU, LLC. (NyacAU) and managed by NyacAU to mine Goldrich's various placer properties at Chandalar.

The equipment was delivered over a 90-mile winter trail by GNP contractors. In addition to equipment, provisions for a 30-man camp were delivered, including a water system, kitchen/mess hall, and recreation facilities. The total investment in equipment mobilized to site, including equipment previously purchased by Goldrich, now exceeds $5 million. Preparation for mining is expected to begin this month. Production is anticipated to begin by June 2013, although it may begin as early as the summer of 2012. Eventual production of approximately 10,000 ounces of fine gold per season is anticipated, but this could be significantly increased if a second gold recovery plant is put into production. Based on drilling of the placer to date and the anticipated production rate, Goldrich estimates the mine life will be approximately 25 years and believes this may also be significantly extended with additional drilling.

The company's address is 2607 Southeast Blvd., Suite B211, Spokane, WA, 99223, 509.535.7367, fax: 509.695.3289.