GOLDEN GOOSE RESOURCES INC.
TSX VENTURE : GGR

GOLDEN GOOSE RESOURCES INC.

August 01, 2006 10:14 ET

Golden Goose Resources Inc.: Magino Infill Drilling Yields Additional Impressive Gold Grades Over Significant Widths

MONTREAL, QUEBEC--(CCNMatthews - Aug. 1, 2006) - Golden Goose Resources Inc. (TSX VENTURE:GGR).is pleased to report results from the recently completed four hole infill drilling program totalling 1,866 m on the Company's 100% owned Magino Mine property located 1.5 km southwest of the Richmont/Patricia Island Gold Mine, near Wawa, Ontario.

Hole 06-12 targeted the Main Area between and below holes 06-05 and 06-06 and intersected several well mineralized structures including 18.80 g/t Au over 0.50 m and 12.20 g/t Au over 1.00 m. Further down the hole, at approximately 440 m below surface, a wide zone was intersected grading 2.65 g/t Au over 25.00 m. The results of 06-12 indicate good continuity of the mineralization between holes 06-05 and 06-06.

Holes 06-13, 06-14 and 06-15 targeted the Northeast Area of the Magino property. Hole 06-13 returned numerous auriferous zones including 17.05 g/t Au over 0.40 m. Hole 06-14 intersected several significant zones of mineralization including 8.95 g/t Au over 4.40 m and 2.75 g/t Au over 25.00 m which included 12.40 g/t Au over 1.00 m. Additional narrow zones of significant mineralization were also encountered in the hole. The best drill hole of the current program is 06-15 which is the most easterly hole drilled to date. This hole returned an impressive 22.00 m grading 6.75 g/t Au which included 71.15 g/t Au over 2.00 m. Additional intersections down-hole from this zone include 6.88 g/t Au over 4.00 m including 15.35 g/t Au over 1.00 m. All of the mineralized zones intersected consist of a series of quartz veins within altered and sheared granodiorite. The true with of the zones is approximately 80% of the sampled width.

Since the beginning of 2006, Golden Goose has drilled fifteen holes (06-01 to 06-15) totalling 6,668 m on the Magino property. The drilling program was designed to define and expand the existing multiple high-grade gold zones from 150 to 400 m below surface, under the historical workings. The Magino Mine operated from 1988 to 1992 producing 105,543 ounces of gold to depths of 125 m to 200 m below surface. The fifteen holes have successfully identified a very robust mineralized system and clearly demonstrate the down-dip continuity of the mineralization which remains open at depth and along strike. The deepest intersection of the current drill program is 440 m below surface from hole 06-12, and the mineralization is still open.

The Company is reviewing the results and considering further drilling with the goal of updating the resource estimate on the property.

Results from drill holes 06-12 to 06-15 are indicated in Table 1. below.

Table 1. Magino Mine Surface Drill Holes Results - Hole 06-12 to 06-15



Drill Hole From To Length Gold
(m) (m) (m) (g/t)
---------------------------------------------------

06-12 280.50 281.50 1.00 10.63
including 280.50 281.00 0.50 18.80
385.00 365.00 1.00 6.27
416.00 417.00 1.00 12.20
525.00 550.00 25.00 2.65
including 532.00 533.00 1.00 10.50
including 539.00 540.00 1.00 5.41
including 545.00 548.00 3.00 7.39
593.00 594.00 1.00 5.17
---------------------------------------------------

06-13 102.30 106.00 3.70 3.96
Including 105.00 106.00 1.00 6.31
154.60 155.40 0.80 6.99
191.70 195.00 3.30 4.78
including 191.70 192.10 0.40 17.05
including 194.00 195.00 1.00 8.43
---------------------------------------------------

06-14 116.60 121.00 4.40 8.95
including 118.60 119.50 0.90 26.00
134.00 15900 25.00 2.75
including 134.00 135.00 1.00 12.40
including 144.00 145.00 1.00 9.60
including 157.00 158.00 1.00 10.70
165.00 166.00 1.00 9.74
238.00 239.00 1.00 7.29
309.50 310.00 0.50 17.35
---------------------------------------------------

06-15 92.00 93.00 1.00 12.40
151.00 178.00 22.00 6.75
including 157.00 167.00 10.00 15.90
including 157.00 158.00 1.00 9.81
including 165.00 167.00 2.00 71.15
including 166.00 167.00 1.00 115.00
including 177.00 178.00 1.00 9.24
214.00 226.00 8.00 2.35
including 216.00 217.00 1.00 6.90
252.00 256.00 4.00 6.88
including 252.00 253.00 1.00 11.55
including 255.00 256.00 1.00 15.35
267.00 268.00 1.00 6.59
---------------------------------------------------


Golden Goose has been very encouraged by the results of the fifteen holes drilled in 2006 below the historical workings of the Magino mine. Table 2 highlights the impressive gold grades and considerable widths obtained from the fifteen hole drilling program. Please refer to Golden Goose's previous press releases of April 19, April 27 and May 11 and May 30, 2006 for complete results. See attached plan map for location of the previous eleven holes and the recent four holes relative to the historical workings.

Table 2. Highlights of Significant Magino Surface Drill Holes 06-01 to 06-15



Drill Hole From To Length Gold
(m) (m) (m) (g/t)
---------------------------------------------------
06-01 135.35 139.85 4.50 4.26
including 137.35 139.35 2.00 9.00
including 138.35 139.35 1.00 13.70
---------------------------------------------------
06-02 325.00 326.00 1.00 14.65
---------------------------------------------------
06-03 334.00 337.00 3.00 8.26
including 334.00 335.00 1.00 15.73
---------------------------------------------------
06-04 278.08 280.40 1.42 1.12
---------------------------------------------------
06-05 297.00 316.00 20.00 8.61
including 297.00 298.00 1.00 124.50
including 315.00 316.00 1.00 41.30
389.00 395.00 6.00 5.01
including 389.00 390.00 1.00 16.10
---------------------------------------------------
06-06 156.00 172.13 16.13 19.80
including 166.00 167.00 1.00 299.00
364.00 367.00 3.00 7.29
including 366.00 367.00 1.00 13.90
---------------------------------------------------
06-07 336.50 342.50 6.00 7.78
including 336.50 337.00 0.50 37.60
389.00 392.00 3.00 8.04
including 391.00 392.00 1.00 20.70
---------------------------------------------------
06-08 371.00 375.00 4.00 4.27
including 371.00 372.00 1.00 12.05
---------------------------------------------------
06-09 300.10 302.50 2.40 28.60
including 301.10 302.50 1.40 47.86
including 301.10 301.50 0.40 162.00
---------------------------------------------------
06-10 168.50 182.00 13.5 8.07
including 170.40 170.70 0.30 202.00
including 173.80 174.80 1.00 17.23
including 173.80 174.30 0.50 26.75
328.80 329.20 0.40 20.40
401.70 402.20 0.50 65.30
---------------------------------------------------
06-11 284.25 285.20 0.95 7.13
---------------------------------------------------
06-12 525.00 550.00 25.00 2.65
including 532.00 533.00 1.00 10.50
including 545.00 548.00 3.00 7.39
---------------------------------------------------
06-13 191.70 195.00 3.30 4.78
including 191.70 192.10 0.40 17.05
including 194.00 195.00 1.00 8.43
---------------------------------------------------
06-14 116.60 121.00 4.40 8.95
including 118.60 119.50 0.90 26.00
134.00 15900 25.00 2.75
including 134.00 135.00 1.00 12.40
---------------------------------------------------
06-15 151.00 178.00 22.00 6.75
including 165.00 167.00 2.00 71.15
including 166.00 167.00 1.00 115.00
252.00 256.00 4.00 6.88
including 255.00 256.00 1.00 15.35
---------------------------------------------------


Samples were transported directly to the ALS Chemex laboratory in Thunder Bay, Ontario and analysed using standard fire assay methods. The information contained in this news release has been reviewed and approved by Craig Waldie, P.Geo., Vice-President Exploration for Golden Goose Resources, a Qualified Person as defined by NI 43-101.

Golden Goose Resources Inc. is a Canadian public company listed on the TSX Venture Exchange under the symbol GGR. The Company is principally engaged in mineral exploration and acquisition and has a portfolio of gold, platinum group metals, and nickel properties in Ontario and Quebec.

A map of Magino Mine is available at the following address: http://www.ccnmatthews.com/docs/graa0801_map.pdf

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

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