Golden Odyssey Mining Inc.
TSX VENTURE : GOE
Pink Sheets : GODYF

Golden Odyssey Mining Inc.

September 28, 2007 10:00 ET

Golden Odyssey Mining to Arrange $425,000 in Non-Brokered Private Placement

RENO, NEVADA--(Marketwire - Sept. 28, 2007) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Golden Odyssey Mining Inc. ("Golden Odyssey" or the "Company") (TSX VENTURE:GOE)(PINK SHEETS:GODYF) announces that it is undertaking a non-brokered private placement for up to 2,500,000 units (the "Units") at a price of $0.17 per Unit, for aggregate gross proceeds of $425,000. Each Unit will consist of one common share of the Company (the "Common Shares") and one half of one share purchase warrant (the "Warrants"). Each full Warrant will entitle the holder to purchase one Common Share at a price of $0.22 per share for a period of one year from the date of issue.

Proceeds will be used for the Company's ongoing drilling program on the White Rock property in Nevada, proposed drilling of the Washiki property in Nevada and general corporate purposes.

All securities to be issued pursuant to the Private Placement will be subject to a four-month hold period. The completion of the proposed Private Placement is subject to TSX Venture Exchange acceptance.

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: 34,215,429

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

Contact Information

  • Golden Odyssey Mining Inc.
    Jeffrey R. Wilson
    (604) 837-5440 cellular
    (775) 787-8466 (FAX)
    Email: jwilson@GOmininginc.com
    or
    Golden Odyssey Mining Inc.
    David R. Shaddrick
    President & CEO
    (775) 787-8400
    (775) 787-8466 (FAX)
    Email: info@gomininginc.com