Golden Odyssey Mining Inc.

Golden Odyssey Mining Inc.

January 04, 2005 16:47 ET

Golden Odyssey Mining Inc. Releases October 31, 2004 Financial Statements


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: GOLDEN ODYSSEY MINING INC.

TSX VENTURE SYMBOL: GOE

JANUARY 4, 2005 - 16:47 ET

Golden Odyssey Mining Inc. Releases October 31, 2004
Financial Statements

CALGARY, ALBERTA--(CCNMatthews - Jan. 4, 2005) - Golden Odyssey Mining
Inc. (TSX VENTURE:GOE) ("Golden Odyssey") released today its unaudited
financial statements for its first quarter ended October 31, 2004.
Golden Odyssey is in the process of completing its initial public
offering and has not changed the status of its properties during the
quarter. Highlights for the quarter include the completion of a 43-101
compliant report (the Hardyman Report) on the Palmetto property and
substantial progress on a prospectus in support of the initial public
offering.



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Three Months Period Ended
Ended Oct. 31, July 31,
Overview of Income Statement Information 2004 2004
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Summary of Income Statement Information
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Income for Period NIL NIL
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Expenses for Period $164,890 $145,669
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Net Income (Loss) for Period ($164,890) ($145,669)
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Share issued (Basic and Diluted) 7,383,333 7,383,333
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Basic and Diluted Income (Loss) per share (0.02) (0.02)
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Three Months Period Ended
Ended Oct. 31, July 31,
Summary of Cash Flow Information 2004 2004
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Cash from Issuing shares, net of
share issue costs NIL $329,050
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Increase (decrease) in Cash ($119,026) $142,139
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Three Months Period Ended
Ended Oct. 31, July 31,
Summary of Balance Sheet Information 2004 2004
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Assets
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Cash in Trust $12,860 $125,503
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Bank Deposits $10,253 $16,636
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Liabilities
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Accounts Payable $73,779 $27,915
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Shareholders Equity $18,491 $183,381
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Summary Financial Information for All Quarters Since Incorporation

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Basic and
Income (loss) diluted
for the income (loss)
quarter per share
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July 31, 2004 ($145,669) (0.02)
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October 31, 2004 ($164,890) (0.02)
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The Golden Odyssey's October 31, 2004 financial statements may be viewed
on SEDAR at www.sedar.com.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Golden Odyssey Mining Inc.
    David R. Shaddrick
    President
    (775) 746-2071
    The TSX Venture Exchange Inc. does not accept responsibility for the
    adequacy or accuracy of this release.