Gold-Ore Resources Ltd. reported unaudited consolidated earnings results for the third quarter and nine months ended Aug. 31, 2009. For the quarter, the company reported loss before other items of CAD 1,006,505 and loss of CAD 1,022,109 or CAD 0.01 per basic and diluted share on revenues of CAD 8,368,983 against loss before other items of CAD 201,071 and loss of CAD 136,794 or CAD 0.01 per basic and diluted share for the same period a year ago. Net cash used in operating activities was CAD 484,219 against net cash provided by operating activities of CAD 472,522 for the same period a year ago. Capital expenditures in mineral properties, plant and equipment was CAD 2,128,735 against CAD 2,166,499 for the same period a year ago. For the nine months, the company reported earnings before other items of CAD 5,076,870 and earnings of CAD 5,043,052 or CAD 0.06 per basic and diluted share on revenues of CAD 29,293,016 against loss before other items of CAD 767,050 and loss of CAD 673,067 or CAD 0.01 per basic and diluted share for the same period a year ago. Net cash provided by operating activities was CAD 7,802,060 against CAD 652,608 for the same period a year ago. Capital expenditures in mineral properties, plant and equipment was CAD 6,268,605 against CAD 4,525,053 for the same period a year ago.

Gold-Ore Resources Ltd. reported the results of the recently completed resource and reserve estimate for the 100% owned Bjorkdal Gold Mine in Sweden. The Bjorkdal Gold Mine has been in operation for 19 of the last 21 years and this new reserve estimate outlines 4.0 million tonnes of ore sufficient for another 3.7 years of operations. The measured and indicted resources generate an additional 6.9 million tonnes available for conversion to reserves. Wardell Armstrong International Ltd. (WAI) was commissioned to provide Gold-Ore with a resource estimate, which separated the deposit into resources amenable to open pit mining and those that would be mined underground. WAI used Datamine software and Indicator Kriging, incorporating all drill data up to March 2009, a total of 4,475 drill holes with a nominal spacing of 30 metres. The resource estimate complies with JORC 2004. After completing the resource estimate, WAI calculated mineable reserves for open pit and underground mining. To establish open pit reserves WAI completed a Pit Optimisation Study using Net Present Value Scheduler software and evaluated four different resource scenarios at different gold prices. The scenario selected for the pit mine design was the one that only included measured and indicated resources that would not impact the underground development. The Open Pit Design Module of Datamine was used to delineate the reserves. The mineable reserves include a dilution factor of 30% and 91% mining recovery.

Gold-Ore Resources Ltd. reported initial results from the on-going underground diamond drilling conducted at the Bjorkdal Gold Mine in Sweden. The 100%-owned Bjorkdal Mine has operated since 1988 and will produce its millionth ounce during 2010. During the last six months, the Company drilled 5,027 metres in 49 core holes and will continue to drill throughout the year. Drilling is currently ongoing with two diamond drills and it is anticipated that a total of 10,000 metres will be drilled in 2009. This activity is being financed entirely from cash flow from gold produced at Bjorkdal. The underground drill pattern is based on 20 metre spaced sections to accommodate reserve definition. The first 25 holes were drilled in the Centrala Zone where they intersected a series of gold-bearing quartz veins of minable width and grade. The Centrala Zone represents an area of significant gold-bearing veins that are readily accessible for mining. A crosscut to access the mineralization has been started and the first vein has been reached. Mining will take place concurrently with all of the other active mining blocks within the deposit. The table below lists the significant results of the first 15 holes.