Botwood Basin

[Ed Monton]

NEWS RELEASE
2003-02-14 - Gallery to Drill its Katie Property in the Botwood Basin

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Gallery Resources Limited (GYR:TSX.V) of Vancouver, B.C. is pleased to announce exploration plans for 2003 show the Company will be very active in exploring its major property situated in the Botwood Basin, central Newfoundland. The fieldwork is scheduled to start later this month with the recommencement of drilling on the Katie Property. This new phase of drilling will test the strike and down dip extensions of the Bruce Pond Epithermal and Black Bart VMS gold zones and untested geophysical anomalies in these areas.

The Company had planned to resume drilling at Katie in late January, but on the advice of industry consultants delayed the start-up to allow further evaluation of earlier drilling and surface results. This work is being carried out to provide more information on the shape, size, strike and dip extensions of the Bruce Pond Epithermal and Black Bart VMS gold zones.

The initial drill holes will test the VMS gold zone based on new interpretations by Geophysics Consultant, Dr. Dennis Woods. He interprets the 40 metre (130 ft) thick section of mineralization intersected in Hole KP-27 last August may have a strike length of at least 600 metres (2,000 ft) open to the northeast and also thickening in that direction. This zone corresponds with coincident surface geophysical anomalies, which extend northeast from the drill hole and support the interpretations. Dr. Woods has recommended a precise drill hole location for immediate testing of the VMS gold mineralized zone to the northeast.

Dr. Derek Wilton is completing research work on drill core from the Bruce Pond Epithermal Gold Zone also at the recommendation of industry consultants who viewed the drill core at the recent Cordilleran Round-up in Vancouver, B.C. They confirmed the textures and alteration contained in the Bruce Pond drill core are typical of the upper boiling levels in epithermal systems and are known to overlie Bonanza Grade (high-grade) gold deposits such as in Nevada, USA. These consultants and Dr. Woods also recommend completing a detailed Induced Polarization (IP) survey prior to deeper drilling. The IP survey will measure the resistance of the rocks at the Bruce Pond Epithermal Gold Zone (high resistivity anomalies are generally associated with any potential epithermal gold zone due to silica emplacement). This survey is scheduled to be completed in the first week of March. Successfully outlining a resistivity anomaly will provide a more precise target for deeper drilling at this potentially significant gold zone.
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“Bruce Costerd”
President & C.E.O.


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