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Goldspike Exploration Inc. ("Goldspike" or the "Corporation") (TSX VENTURE:GSE)
is pleased to report it has received notification that the optionee of the
Corporation's Livingstone gold property (the "Property"), Goldstrike Resources
Ltd. ("Goldstrike"), has discovered gold mineralization on its first pass
exploration of the Property. This first pass exploration has resulted in the
discovery of two drill ready gold targets.


Bruce Durham, President of Goldspike, commented, "We are very encouraged by the
early success by Goldstrike on the Livingstone gold property and we look forward
to further developments on these exciting discoveries. If the large nuggets in
the nearby downslope placer deposits were actually sourced from the Livingstone
gold property, the discovery of these potential sources of the gold could be a
significant development".


The report by Goldstrike states as follows:

"The newly discovered zones appear to be potential sources for the coarse
placers that are actively being mined downstream. One of the zones produced a
grab sample that returned 8,226.5 parts per billion (8.2265 grams per tonne/0.24
ounces per ton) gold from a structure that is over 600 metres long and 70 meters
wide. The other zone produced a grab sample that returned 802 parts per billion
(0.802 grams per tonne) from a structure over 400metres long. These two
gold-mineralized structures both remain open, and cover the headwaters of
several placer creeks, including Cotoneva, Lake and Summit Creeks, which
together account for most of the 50,000 ounces of recorded placer production in
the Livingstone Gold Camp. A total of seven parallel structures have been
identified on the property in a 5 kilometre by 3- kilometre area, providing
multiple targets for follow-up exploration, and the Company has sited the first
drill hole. This new gold trend has been named "Golden Gate".


Zone 2 is a strong drill target consisting of graphitic quartz vein material in
the wall of a recessive, linear structure that is over 600 metres long, 70
metres wide and 3 to 5 metres deep, and remains open. The vein material contains
very fine-grained grey sulphides that are inferred to be silver and lead, based
on initial assay results. A grab sample of quartz-sulphide vein subcrop from
Zone 2 returned 8,226.5 parts per billion (8.2265 grams per tonne) gold, along
with 121.5 parts per million arsenic, 7,828.2 parts per million lead, 103.1
parts per million molybdenum, and more than 100 parts per million silver (fire
assay results for the gold and silver are pending).


Zone 1 is a drill-ready quartz vein containing coarse sulphides that splays off
a parallel linear recessive structure over 400 metres long, 50 metres wide, and
3 to 5 metres deep that remains open. The vein varies from 30 to 60 centimetres
in width and was traced for 15 metres before disappearing beneath overburden. It
contains coarse-grained galena, chalcopyrite, malachite, and azurite. A grab
sample returned 584.7 parts per billion (0.584 grams per tonne) gold, 27 parts
per million silver, 1,397 parts per million copper, and 5,924 parts per million
lead, and a fire assay of the same sample returned a value of 802 parts per
billion (0.802 grams per tonne) gold. The vein is hosted in quartz-sericite
schist, chlorite schist, and quartzite A number of other grab samples taken from
the Golden Gate trend also returned strongly anomalous gold values. Results for
68 rock grab samples ranged from below detection level to 8,226.5 parts per
billion gold, including 14 samples that returned values over 15 parts per
billion gold, and ten grab samples that returned values over 100 parts per
billion gold. Five of the ten most anomalous gold samples returned elevated
silver values ranging from 4.9 parts per million (4.9 grams per tonne) to more
than 100 parts per million (more than 100 grams per tonne).


Goldstrike's first pass reconnaissance program was focused on mapping and
prospecting, and the only soil sample taken returned a background value of 0.23
parts per billion gold.


The seven open parallel structures that comprise the Golden Gate trend appear to
be surface expressions of underlying recessive faults or shear zones that can
act as mineral bearing fluid pathways, as indicated by the gold-mineralized
quartz vein material found at Zone 1 and Zone 2.


Ground magnetometer and radiometric spectrometer surveys were conducted over
several of the parallel northwest-trending structures and showed very favorable
responses, confirming the geological structures underlying several of the
lineaments. Follow-up exploration is planned to trace the full extent and gold
potential of these open-ended structures.


The Livingstone Camp has produced at least 50,000 ounces of placer gold to date
(Yukon Geological Survey, 2006). Livingstone area creeks are being actively
mined today for coarse nuggets greater than 1 cm in size, some of which contain
quartz. There is no fine grained or flour gold with these nuggets. All of these
factors suggest the gold comes from a local bedrock source and not a mixed
glacial deposit, consistent with the findings of Stroink and Friedrich in 1992.


These authors compared the chemistry of the nuggets and the mineralogy and fluid
inclusions from quartz attached to nuggets in Livingstone area gold creeks with
the chemistry of gold from local quartz- sulphide veins and the mineralogy and
fluid inclusions from vein quartz, and concluded that the placer nuggets were
sourced by quartz-sulphide veins in the local metamorphic bedrock.


Sample analysis and assaying for all of Goldstrike's projects are being
conducted by Acme Analytical Laboratories Ltd. in Vancouver, B.C., which is ISO
9001 accredited. Soil samples are dried at 60C, reduced to 100 grams, and sieved
to -80 mesh. A 15 gram charge is then dissolved with a 1:1:1 aqua regia
digestion, and analyzed by a 72-element combination ICP-MS and ICPAES package
that includes gold. Rock samples are crushed, split, and 250 gram samples are
sieved to 200 mesh. 30 gram charges are then assayed for gold using fire assay
fusion and ICPES, and in addition, 0.5 mg charges are dissolved with a 1:1:1
aqua regia digestion, and analyzed by 37-element ICP-MS that also includes gold.
Rigorous procedures are in place regarding sample collection, chain of custody
and data entry. Certified assay standards, duplicate samples and blanks are
routinely inserted into the sample stream to ensure integrity of the assay
process.


Note: Grab samples are selective by nature, and are unlikely to represent
average grades on the property.


For more detailed new information on the Livingstone property, refer to recent
associated links on Goldstrike's web site at goldstrikeresources.com


Trevor J. Bremner, P.Geo., Senior Consulting Geologist and Advisor to
Goldstrike's Board, is a qualified person, as defined by National Instrument
43-101, for Goldstrike's Yukon exploration projects and supervised the
preparation of the technical information" in the quoted portion of the
Goldstrike release above.


The option agreement covering the Property requires Goldstrike as optionee to,
among other things, make additional cash payments totaling $1,000,000 to the
Corporation and also requires Goldstrike to issue a further 1,700,000 shares of
Goldstrike to the Corporation in order to earn a 100% interest in the Property,
subject to an exclusive back-in right that would allow the Corporation to
re-acquire a 30% interest in the Property in return for a one-time payment of
$5,000,000.


Bruce Durham, P.Geo, is a qualified person as that term is defined by National
Instrument 43-101 on behalf of Goldspike and is the person responsible for the
preparation of this release.


Goldspike recently activated its new website and invites interested parties to
visit the site at http://goldspike.ca for regular updates on its 40 gold
exploration properties in the Yukon, the focus of Canada's latest GOLDRUSH.


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.

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