Gossan Resources Limited: Grants Stock Options

WINNIPEG, 04/16/12 -- Gossan Resources Limited (TSX VENTURE: GSS) (FRANKFURT: GSR) (Frankfurt/Freiverkehr & Xetra:WKN 904435) has awarded 860,000 incentive stock options exercisable at $0.16 per common share to officers, directors and consultants of the Company. This grant of options is in compliance with the terms of the Company's Stock Option Plan and remains subject to the acceptance of the TSX Venture Exchange.

Four officers and directors were granted a total of 360,000 options and consultants were granted 500,000 options, including 200,000 options to a consultant engaged in investor relations that will be vested quarterly over the next year in accordance with Venture Exchange Policy. This grant of options was awarded after the close on April 13, 2012 and has expiry dates of September 21, 2015 to March 21, 2017.

Gossan Resources Limited is engaged in mineral exploration and development in Manitoba and northwestern Ontario. It has a well-diversified portfolio of properties hosting gold, platinum group and base metals, as well as the specialty and minor metals, vanadium, titanium, tantalum, lithium and chromium. The Company also has a large deposit of magnesium-rich dolomite, the world-wide rights to the Zuliani high-efficiency magnesium production process, and a silica frac sand deposit. Gossan trades on the TSX Venture and the Frankfurt/Freiverkehr & Xetra Exchanges and has 33,140,400 common shares outstanding.

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Contacts:

Gossan Resources Limited
Douglas Reeson, Chairman & CEO
(416) 533-9664
info@gossan.ca
www.gossan.ca