SOURCE:; Golden Peaks Resources Ltd.

October 10, 2006 09:00 ET

Demand for Gold From China and India Expected to Continue -- Long-Term Outlook for Gold Remains Positive -- Interviews With Kitco's Jon Nadler on Global Market Outlook and Golden Peaks Resources on Gold Mineralization Opportunities in Argentina

POINT ROBERTS, WA and DELTA, BC -- (MARKET WIRE) -- October 10, 2006 (GMS), an investor and industry portal for the gold and mining sector, presents online audio interviews with Kitco's Jon Nadler, Investment Products Analyst, and Golden Peaks Resources (TSX: GL) President and CEO Kieran Downes to discuss opportunities within the gold industry. While many factors such as geopolitical uncertainty, fluctuations in the dollar and the volatility surrounding the cost of oil still continue to impact the price of gold, growing global demand from regions such as China and India is expected to drive gold upwards over the long term. Working to take advantage of the long-term prospects of the gold market, Golden Peaks has identified Argentina as holding significant potential as they pursue five high-priority gold projects within this region.

"We have recognized 5 major geological structures through trenching, sampling, prospecting and mapping all with significant gold mineralization. We have identified multiple zones on these structures and in the next stage of drilling we hope to focus on outlining the resources on one or all of these zones," explains Mr. Downes.

The Company's flagship La Fortuna Gold Project is closely situated to two nearby world-class discoveries in southern Argentina, the Esquel and Navidad deposits. Downes states, "The significance of these deposits is that it demonstrates the geological setting we are exploring in has the potential of hosting very large gold and silver deposits. The fact that these exist in the same type of terrain we are currently exploring in gives us a lot of hope and expectations that we too will be successful in finding something quite large and significant in the La Fortuna project."

In looking at global market factors that have an ongoing impact on gold's future, the growing demand from China and India will potentially remain a significant force driving the price upwards over the long term. As Jon Nadler describes, "There remains no doubt that the demand for gold coming from India, China and Japan will continue to have a very important effect on the consumption of gold. We do believe that the regional demand out of Southeast Asia will continue to be a very important factor moving forward."

Geopolitical uncertainty, the movement of the U.S. dollar and the high cost of oil despite recent pullbacks, have all had the part to play in gold's volatility over the recent months; however, gold remains an investment of choice by many. "Gold has not reacted as strongly to the recent Middle East situation largely due to the fact that speculative traders were seen jumping from assets to assets, from oil to dollars to stocks, back to gold, basically in a confused quest to extract maximum profitability from each headline. Long-term investors on the other hand remain undeterred and continue to buy gold," explains Nadler.

Commenting on gold's recent volatility, Kieran Downes describes, "From the perspective of Golden Peaks, the price of gold as it fluctuates over the short term will not have a significant impact on the Company. Our company has a significant treasury; we currently have over $15 million with a carefully controlled expenditure rate. Our goal is to find a large gold deposit that could be successfully sold to a major company seeking to replenish its reserves so the day-to-day or month-to-month movements in the gold price are not going to affect Golden Peaks."

Looking forward, the demand for gold is expected to continue to grow remaining a popular choice for investors. Jon Nadler states, "There will always be a role for gold in the portfolio of investors. We try and remind investors of the Kitco proverb, when you buy gold for the right reasons there is no such thing as the wrong time or the wrong price."

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Golden Peaks Resources Ltd. (TSX: GL) (formerly (TSX-V: GL)) is a progressive international exploration and resource development firm that holds a portfolio of five advanced precious metals properties covering 385,000 acres in Argentina. For More Info: Disclaimer: Our sites do not make recommendations, but offer information portals to research news, articles, stock lists and recent research. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. GMS is compensated by Golden Peaks Resources Ltd. (TSX: GL) for five thousand dollars per month.

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