GOLDEN GOOSE RESOURCES INC.
TSX VENTURE : GGR

GOLDEN GOOSE RESOURCES INC.

November 11, 2005 10:43 ET

Golden Goose Resources Inc. Reports Third Quarter Results

MONTREAL, QUEBEC--(CCNMatthews - Nov. 11, 2005) - Golden Goose Resources Inc. (TSX VENTURE:GGR). The Company is pleased to report its unaudited financial statements for the three months ended September 30, 2005 with comparative figures.



Selected Quarterly Information
For the nine months ended September 30

2005 2004(i) 2003
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Total revenues $9,501 $9,182 $3,556
Net earnings (loss) $(267,965) $(476,296) $75,624
Net earnings (loss) per share $(0.01) $(0.02) $0.00
Net earnings (loss) per share diluted $(0.01) $(0.02) $0.00
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(i) restated to reflect year end adjustments

Results of Operations

For the nine months ended September 30, 2005, the Company reported a
net loss of $267,965 or $(0.01) per share compared to a net loss of
$476,296 or ($0.02) per share for the nine months ended September 30,
2004. The loss for the nine month period ended September 30, 2005 was
mainly due to the general and administrative costs expensed and the
continuing care and maintenance expenses.

Balance sheet

As at September 30, 2005, the receivables are comprised of the
federal and provincial sales tax of $28,393 and the interest earned
on term deposits of $3,172. The prepaid expenses of $43,787 relate to
the insurance and consulting fees. The accounts payable and accruals
are comprised of the general corporate expenses.

Any cost which is an Acquisition or Development cost of the mining
interest is capitalized as outlined in our accounting policies
detailed in our Annual Report for 2004. The Company capitalized
$92,354 in the nine months ended September 30, 2005 and $63,788 in
the nine months ended September 30, 2004.

2004 2005
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Technical consulting $13,515 $55,754
Property and claims 11,390 8,034
Power system upgrade 67,449 -
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$92,354 $63,788


Cash flow and source of financing

During the period ended September 30, 2005, the Company's working capital increased from $585,021 at December 31, 2004 to $1,217,468 at September 30, 2005.

The Company's cash and cash equivalents increased from $620,132 at year-end 2004, to $1,163,022. On August 8, 2005, the Company closed a private placement of $1,000,000 for net proceeds of $985,265.

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

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