Mr. Ken Konkin reports

GOLDSTORM METALS DISCOVERS GOLD-SILVER MINERALIZATION OVER A 407.55-METER (M) LENGTH IN PRELIMINARY DRILLING AT THE CROWN PROPERTY ON TREND WITH KSM AND TREATY CREEK DEPOSITS, IN BRITISH COLUMBIA'S GOLDEN TRIANGLE

Goldstorm Metals Corp. has released the assay results from the first three drill holes of the recently completed diamond drill program on its 100-per-cent-owned Crown gold-silver-copper property, located in the Golden Triangle region of British Columbia. Crown is situated to the south of Newmont Corp.'s Brucejack mine and Seabridge Gold Inc.'s KSM property.

The phase I diamond drilling program comprised seven holes totalling 4,155.5 metres that tested a portion of the Copernicus gold-silver-copper geochemical trend, which coincides with a 1.2-kilometre-long induced polarization (IP) chargeability anomaly. Analytical results from the remaining four drill holes are pending and will be reported by the company once the data have been received, compiled and interpreted.

Highlights:

• OR-26-03 averaged 0.39 gram per tonne gold equivalent (AuEq) over a 407.55-met remineralized intercept, demonstrating the presence of a large precious metals target within prospective host rocks, located along a very favourable trend of porphyry mineral deposits.
• Within the 407.55-metre intercept, higher-grade sections included 15.0 m of 2.89 g/t AuEq within broader intervals of 25.5 m of 1.97 g/t AuEq and 300 m of 0.43 g/t AuEq.
• The mineralization encountered in both OR-26-02 and OR-26-03 has a strong silver component.
• The mineralization is within highly silicified felsic volcanic rocks that lie along the western edge of a large, north-south-trending, high-chargeability IP anomaly.

Ken Konkin, PGeo, president and chief executive officer, commented: "I am very pleased to announce that Goldstorm's preliminary drilling program has discovered a very large precious metals system that appears to be on trend with the KSM and Treaty Creek deposits to the north. Significant precious metal mineralization intersected in the drill holes is associated with pervasive strong silicification that is believed to be linked to structural features that trend southward from the multiple, large, porphyry gold-silver-copper deposits at KSM and Treaty Creek.

"The Orion Spine, where this mineralization has been discovered, is located between two arms of the Frank Mackie glacier and is well exposed. Clearly, this resistant ridgeline withstood the effects of glacial erosion due to the siliceous and resistive nature of the altered rocks. The strongly silicified, rhyolitic-dacitic volcanic flows and tuffs intersected in the drilling are well brecciated and mineralized with base-metal sulphides, acanthite (silver sulphide) and gold.

"Our geologists believe that, deeper in the volcanic pile, we may encounter the intrusive-related source that provided well-mineralized hydrothermal fluids and may have developed into a large porphyry system. The favourable mineralized horizons at KSM and Treaty Creek are much lower in the pile than the drill area at the higher-elevation Orion Spine, giving this project excellent geological potential for discovery of a very large bulk-tonnage deposit at depth. We are currently awaiting the results from 24 sample shipments and will continue to release results from the rest of the reconnaissance program as well as the last four drill holes as we receive them. We are excited about our preliminary drilling results and are already planning an expanded drilling program at the Crown project for next year."

Qualified person

The qualified person for this news release for the purposes of National Instrument 43-101 is the company's president and chief executive officer, Ken Konkin, PGeo. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.

Quality assurance/quality control

All samples were prepared at MSALABS' preparation laboratory in Terrace, B.C., and assayed at MSALABS' geochemical laboratory in Langley, B.C. Gold was assayed using a fire assay with atomic absorption (AA) spectrometry finish. Samples over 10 parts per million gold were fire assayed with gravimetric finish. All samples were analyzed by four-acid digestion with multielement ICP-MS, with silver and base-metal overlimits being reanalyzed by emission spectrometry. MSALABS' quality system complies with the requirements for the international standards ISO 17025 and ISO 9001. MSALABS is independent of the company.

About Goldstorm Metals Corp.

Goldstorm Metals is a precious and base metals exploration company with a large strategic land position in the Golden Triangle of British Columbia, an area that hosts some of the largest and highest-grade gold deposits in the world. Goldstorm's flagship projects, Crown and Electrum, cover an area that totals 16,469 hectares over six concessions, of which five are contiguous. The Crown project is situated directly south of Seabridge Gold's KSM gold-copper deposits and Newmont's Brucejack/Valley of the Kings gold mine. Electrum, also located in the Golden Triangle of British Columbia, is situated directly between Newmont's Brucejack mine, approximately 20 kilometres to the north, and the past-producing Silbak Premier mine, 20 kilometres to the south.

We seek Safe Harbor.