Golden Touch Receives Final TSX Venture Exchange Acceptance For Acquisition Of Jab Resources Limited

VANCOUVER, March 22 /CNW/ - Golden Touch Resources Corp. (“Golden Touch“ or the “Company“) (TSX-V Symbol: GOT; Frankfurt: 0GT) is pleased to announce that it has received final acceptance from the TSX Venture Exchange of the definitive agreement with Jab Resources Limited (“JAB“), whereby Golden Touch will acquire, through schemes of arrangement under Australian law (the “Arrangement“), all of the outstanding securities of JAB.

The Company now intends to implement the schemes of arrangement involving JAB and its security holders and acquire all of the outstanding securities of JAB. In consideration of the JAB securities, the Company will issue JAB security holders 8,513,607 common shares, warrants to purchase 250,021 common shares at an exercise price of $1.20 per share exercisable until December 31, 2011 and warrants to purchase 1,925,091 common shares at an exercise price of $1.80 per share exercisable until December 31, 2011. In addition, the Company will make a $200,000 cash payment to JAB to cover administrative costs to date.

Golden Touch is also very pleased to announce the appointment of Mr. Robert Murdoch a new addition to the Board of Directors and as the Company's new Chairman upon closing of the acquisition.

Mr. Aly Mawji, President of Golden Touch stated: “Golden Touch and JAB have achieved another significant milestone by obtaining TSX-V final acceptance for the acquisition of JAB. The Company looks forward to completing the scheme of arrangement over the coming days with security holders of JAB. I would like to welcome Mr. Rob Murdoch to the Board of Directors and look forward to advancing on the significant work already completed to date by JAB and its team. Mr. Murdoch brings over 40 years production and exploration experience to Golden Touch.“

Mr. Rob Murdoch, Executive Chairman of JAB, and new Chairman of Golden Touch stated: “I am very pleased to join the current Board of Golden Touch with the directive to advance the work of JAB over the last five years. I feel with the capital market experience Golden Touch brings, along with JAB's technical expertise, the Company can become an industry leader in Albania.“

JAB's principal asset (held through its wholly owned subsidiary JAB Resources SH PK, an Albanian registered company) is the 100-per-cent-owned Albanian Exploration Projects, a portfolio of exploration permits totalling approximately 140 sq. km, located in Northern Albania. JAB has already spent in excess of US$5 million on exploration within the permit areas, which has resulted in the outlining of significant gold, platinum group elements (PGE) and chromite mineralization. Golden Touch has filed updated National Instrument 43-101 (“NI 43-101“) compliant technical reports on the Albanian Exploration Projects with the TSX-V and once they have cleared comments the updated NI 43-101 reports will be posted on SEDAR.


On Behalf of the Board of Directors Golden Touch Resources Corp.

“Aly B. Mawji“
President



NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE



For further information:

Aly B. Mawji at 604-306-5415
www.goldentouchresources.com