Gold-Ore Announces 2009 and Fourth Quarter Financial Results

Gold-Ore Resources Ltd. ("Gold Ore" or the "Company") (TSX VENTURE:GOZ)
announces that it has released its financial results for the year ended November
30, 2009. The Company's audited consolidated financial statements and
management's discussion and analysis for the year ended November 30, 2009 are
available at www.sedar.com or on the Company's website at www.goldore.ca.


These statements reflect the first year of commercial production for Gold-Ore
and mark the successful transition from explorer to profitable gold producer.
The 100%-owned Bjorkdal Gold Mine in Sweden has now produced 980,000 ounces of
gold since it began production in 1988 and will hit the million-ounce mark this
summer.


2009 Year End Highlights (Canadian dollars)

- Revenues of $39.7 million

- Operating cash flow of $11.9 million or $0.14 per share

- Earnings for the year of $5.0 million or $0.06 per share

- Cash on hand as of the end of the year of $3.4 million and working capital of
$5.2 million


- No debt

- Gold production of 37,032 ounces (1,151.8 kilograms) and gold sales of 36,963
ounces (1,149.7 kilograms)


- Average realized gold price of US$ 975 per ounce; production remains un-hedged

- Total cash costs of US$ 677 per ounce

- Capital investments of $9.7 million dollars for underground development ($6.0
million), exploration drilling ($1.5 million), plant and tailings upgrades ($2.2
million)


Fourth Quarter 2009 Highlights (Canadian dollars)

- Revenues of $10.4 million

- Operating cash flow of $3.4 million or $0.04 per share

- Loss for the period of $26.9 thousand or $0.00 per share

- Gold production of 10,194 ounces (317.1 kilograms) and gold sales of 9,045
ounces (281.3 kilograms)


- Realized gold price of US$ 1,127 per ounce

Glen Dickson, Chairman, commented that, "Gold-Ore has completed a successful
first year of commercial production at Bjorkdal. Looking forward, our operating
team has identified several major objectives that will potentially increase
production and reduce costs and are working diligently to achieve those goals.
Management is optimistic that operations will continue to improve in 2010 and
the Company will continue to add to its treasury."


Objectives for 2010

- Continue to increase reserves/resources through drilling to demonstrate a minimum
5 to 8 year mine life

- Aggressively work on initiatives to increase gold production by mining higher
grades and reducing dilution


- Lower cash costs of production

- Explore for satellite ore bodies outside of the pit area within a radius of 5
km of the plant


- Investigate potential merger and acquisition opportunities

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 un-hedged, 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 the country;
the Ronnberget Gold Property (adjacent to Bjorkdal) and the Norrliden
Polymetallic Deposit.


Bjorkdal property information is posted on the Company's web site at
www.goldoreresources.com.


ON BEHALF OF THE BOARD

Glen Dickson, Chairman

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.

Gold-Ore Resources Ltd (TSXV:GOZ)
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