GOZ Gold-Ore Resources Ltd

Gold-Ore Resources Ltd. (TSX VENTURE: GOZ) is pleased to provide an update on the operations at the 100%-owned Bjorkdal Gold Mine in Sweden. The 2009 fiscal year (ending November 30, 2009) was the first year of commercial production at Bjorkdal under the ownership of Gold-Ore and marks the company's transition from junior explorer to junior producer. The company achieved this milestone with no debt, no forward gold sales and only modest share dilution. Gold production at the mine has started the 2010 fiscal year on a positive trend with December 2009 production setting a record of 3,865 ounces (120.2 kilograms).

2009 Highlights

-  Declared commercial production
-  Announced a reserve statement with a four year mine life and significant
   additional resources
-  Expanded the orebody with surface and underground drilling
-  Produced 37,032 ounces (1,151.8 kilograms), a 32% increase over 2008
-  Completed major plant and tailings upgrades, funded from cash flow
-  Added several key, highly skilled members to the mining department

2010 Objectives

-  Produce over 40,000 ounces of gold
-  Reduce the cash cost per ounce
-  Produce the 1,000,000th ounce of gold during the summer, 2010
-  Increase open pit grades by mining higher grade pits (SEE and South
   Wall)
-  Increase underground mining grade by decreasing dilution
-  Aggressively develop new reserve ounces by extending mineralized zones
   and replacing mined ounces
-  Test numerous prospective targets on the 57 square kilometres land
   package

From 1988 to 1999 Bjorkdal operated as an open pit mine, however, during the period 2001 to 2006 there was minimal mining at the site and feed for the plant was provided from low grade stockpiles from previous open pit mining. Gold-Ore started underground mining in 2006 on a test basis and has been gradually increasing the underground mining rate while re-instating mining in the open pit.

Currently, ore is processed at the rate of 3,200 tonnes per day and is sourced 45% from underground and 55% from open pit. The mine produced 37,032 ounces of gold during 2009 and started the new fiscal year in December with record gold production of 3,865 ounces (120.2 kg). The mine has now produced over 967,000 ounces of gold and will produce the milestone 1,000,000th ounce during the summer of 2010.

Open Pit

The company is actively mining in two open pits (SEE and South Wall) and is evaluating the expansion to a third pit (Nylunds). All mining in the pit is carried out by a contractor. A new contractor with more efficient drilling equipment will commence early in the New Year, resulting in a significant reduction in mining costs for open pit ore.

Underground

The underground mining unit is providing 1,500 tonnes per day of ore from a combination of on-vein drives, cross-cuts and long-hole stopes. An increase in the underground tonnage rate is being evaluated as the footprint of the orebody increases through diamond drilling. Between 40 and 50 veins have been identified and are being modelled for production, and there are over eight kilometres of underground tunnels.

The company is aggressively evaluating the option of mining at a narrower width, thus reducing dilution and increasing grade. The objective is to increase the plant head grade and also total gold output.

Exploration Plans

The company is finalizing exploration plans for 2010 based on a two-pronged approach: on-lease (exploitation license) and off-lease (exploration license).

The on-lease exploration will involve 10,000 metres of surface and underground diamond drilling to extend mine-life by expanding the orebody close to the processing plant. The gold bearing vein swarm occurs over an area measuring 1,900 metres wide and 1,900 metres long (along strike). Both dimensions are open to expansion. The contained gold within this area can be summarized as follows:

-  proven and probable reserves - 166,000 ounces,
-  measured and indicated resources - 357,000 ounces
-  inferred resources - 493,000 ounces.

The off-lease exploration will involve diamond drilling, soil sampling and geophysics on areas within the 57 square kilometre property. The area between Nylunds and Ronnberget represents a first priority target. The Nylunds area is located 300 m southeast of the SEE pit and was drilled historically with over 100 holes. The area hosts gold-bearing quartz veins and drilling is required to upgrade the resources to reserve status and also evaluate the deeper veins for underground mining potential. Nylunds is open to expansion to the southeast and the next known center of mineralization is located 3.5 kilometres southeast at the Ronnberget Zone (see 2009 new releases for information on Ronnberget).

About Gold-Ore

Gold-Ore Resources is a gold mining and exploration company focused in Sweden. The company is generating positive cash flow, is debt-free and unhedged, and remains focused on increasing gold production from the 100%-owned Bjorkdal Gold Mine. In addition to Bjorkdal, the company also has other assets in Sweden; the Ronnberget Gold Property (adjacent to Bjorkdal) and the Norrliden Polymetallic Deposit.

ON BEHALF OF THE BOARD

Robert S. Wasylyshyn, President

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

News Release 10-01

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contacts: Gold-Ore Resources Ltd. Glen Dickson (604) 687-8884 Gold-Ore Resources Ltd. Bob Wasylyshyn (604) 687-8884 Gold-Ore Resources Ltd. Ron Ewing (604) 687-8884 (604) 629-0400 www.goldoreresources.com