Greenwood Gold Resources Inc. Announces $400 Million Appraisal of Assets Acquired Through Acquisition Agreement

LAS VEGAS, April 24, 2012 /PRNewswire/ -- Greenwood Gold Resources Inc. (OTCBB: GGRI), (OTCQB: GGRI)

In keeping with its strategy to become a world leader in certified carbon credit trading, the Company announced today that certain land rights and interests it recently acquired have been appraised by a third party.

The appraised parcel of land in Ecuador, South America, consisting of 80,200 hectares, was appraised at US $5,000 per hectare yielding an estimated value of US $400,000,000 and is supplemented by an additional 25,000 hectares in an adjacent area that, if comparable (it has not yet been appraised), could bring the total value of rights and interests of the properties to over US $500,000,000.  By way of contracts with a non-profit group in South America, all rights and interests in these properties are exclusive to Greenwood Gold Resources Inc., which is currently undergoing a name change to BluForest Inc. to better reflect its business activities.  This includes exclusive rights over carbon credits that have yet to be evaluated.

The company is currently in the process of having the remaining 25,000 hectares appraised and will notify its shareholders of any new developments via news releases as they develop.

Please visit www.bluforest.com for more information.

On behalf of the Board of Greenwood Gold Resources Inc.

Contact Us

Company Address:

Greenwood Gold Resources Inc.
4960 S. Gilbert Road, Suite 1-111,
Chandler, AZ   85249

Company phone number:

1-855-509-5508

[email protected]

Safe Harbor Act Notice:

Statements contained herein that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the company's ability to obtain additional financing and the demand for the company's products. Any investment in the company would be extremely speculative and involve a high degree of risk and should not be pursued unless the investor could afford to lose their entire investment. Before investing, please review this filing, all past public filings with the SEC, all current Pinksheets.com filings and consult a registered broker dealer or contact the financial industry regulatory authority ("FINRA") for more information regarding locating a qualified party to assist in making an investment decision. The company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the company's success are more fully disclosed in the company's most recent public filings with the U.S. Securities and Exchange Commission.  Forward-looking statements are typically identified by the use of terms such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "predict," "project," "should," "will," and similar words, although some forward-looking statements are expressed differently. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.

SOURCE Greenwod Gold Resources Inc.