VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2012) -Goldstrike Resources Ltd. (TSX VENTURE:GSR)(FRANKFURT:KCG1) is pleased to announce that Terrence (Terry) King has been appointed President of the Company, and will hereafter sit as President, Chief Executive Officer and Chairman of the Company. Mr. King is a principal of the Vancouver law firm Holmes & King, and has a background in corporate finance and securities. He has served as director and/or officer of, and advisor to, numerous public companies carrying on mineral and oil and gas exploration activities over the past 25 years. He is currently Chief Executive Officer and a director of Petro One Energy Corp. (TSX VENTURE:POP), and an independent director of Majestic Gold Corp. (TSX VENTURE:MJS).

William Chornobay, Chief Operating Officer, and Yilu (Lucy) Zhang, Chief Financial Officer, make up the balance of the Company's management team. Reimar Koch, who has stepped down as President to facilitate this restructuring, joins Lawrence (Larry) Dick and Lucy Zhang on the Company's Audit Committee, and has been appointed Chairman of that Committee. The Board thanks Mr. Koch for his valuable contributions to Goldstrike during its recent transition into the mineral exploration business, and looks forward to his continuing contributions as an independent director.

Goldstrike is a well-financed mineral exploration company with multiple discrete exploration projects in the Yukon. For more detailed information on the Company and its projects, refer to Goldstrike's web site at [ goldstrikeresources.com ].

ON BEHALF OF THE BOARD

Terrence E. King, President & CEO

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