Golden Odyssey Mining Inc.
Pink Sheets : GODYF

Golden Odyssey Mining Inc.

January 18, 2007 10:01 ET

Golden Odyssey Identifies Significant New Zone at Morningstar Property, Walker Lane, Nevada

Significant New Zone Identified

RENO, NEVADA--(CCNMatthews - Jan. 18, 2007) - Golden Odyssey Mining Inc. (TSX VENTURE:GOE)(PINK SHEETS:GODYF)("Golden Odyssey" or the "Company") is pleased to announce that it has staked 30 additional mining claims (600 acres) adjoining its Morningstar Project on the Walker Lane Belt, bringing the project area to a total of 129 claims. The expansion of the existing project followed the discovery, through reconnaissance mapping, of additional areas of alteration and silicification associated with strongly faulted permissive stratigraphy to the east of the original land holding.

The Company's exploration philosophy is to seek out projects with similar geologic and geochemical settings to known large deposits elsewhere in Nevada. Morningstar fits our exploration model for the large gold and base metal deposits in the Battle Mountain area of Northern Nevada. These similarities include: a large mineral system hosted by a sequence of strongly faulted and altered calcareous and siliceous rocks, geochemical patterns characterized by anomalous levels of several pathfinder elements including arsenic and mercury as well as gold values from select surface grab samples in the 11.1 to 17.8 g/T range and significant intervals of anomalous gold (up to 1.37 g/T) intercepted in drilling. The Morningstar Project is located midway between Las Vegas and Reno in Esmeralda County, Nevada.

David R. Shaddrick, President and CEO comments that, "The expansion of the Morningstar Project is an excellent example of the Company's aggressive approach to exploration. Both ongoing reconnaissance and our compilation and analysis of the 2006 program results have identified a new area with significant potential to increase the size of the mineralized system with a resultant increase in the probability of our discovering a significant ore deposit."

The technical content of this news release has been reviewed by David R. Shaddrick, CPG, P.Geo(BC) who is a Qualified Person as defined in NI 43-101.

Details of this and other Company projects can be viewed on the Company's web site at and on SEDAR at

About Golden Odyssey

The Corporation, through a wholly owned subsidiary, is engaged in the acquisition and exploration of mineral properties in the State of Nevada. Golden Odyssey now has seven active projects, most situated on major gold trends. On the Walker Lane Belt in Esmeralda County the Corporation has the Golden Shirene, Morningstar and Palmetto projects. The Walker Lane Belt is one of the most prospective areas of Nevada. This highly mineralized trend has hosted some of the most important mining districts in North America including the famous Comstock, Tonopah, Goldfield, Bullfrog and Aurora districts. The region is currently being explored by Kinross Gold/ Barrick Gold at the Round Mountain Mine, Gryphon Gold at the Borealis Mine and Newcrest Mining at the Redlich project. On the Cortez Trend in Eureka County, the Corporation holds the Anchor and JDS projects, situated on trend with Barrick Gold Corporation's East Archimedes mine and US Gold Corporation's Tonkin Springs Mine. On the Carlin Trend in Elko County the Corporation is exploring the Mexican Hill project which is southeast of Newmont's Rain and Emigrant Springs mines. Also in northeastern Nevada, the company holds the White Rock project where the company is currently working to verify historic, non 43-101 compliant reports of significant drilling and gold mineralization.

Forward-looking Statements:

Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Factors that might cause a difference include, but are not limited to: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. Golden Odyssey Mining Inc. will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect the financial results is included in documents filed from time to time with Canadian securities regulatory authorities by Golden Odyssey Mining Inc.

Shares Outstanding: 31,684,580

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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