April 05, 2006 16:11 ET

Golden Goose Resources Inc.: Signature of a MOU for the Acquisition of Mining Licences in Mongolia

MONTREAL, QUEBEC--(CCNMatthews - April 5, 2006) - Golden Goose Resources Inc. (the "Company") (TSX VENTURE:GGR)is pleased to announce that it has entered into a memorandum of understanding ("MOU") with the shareholders of Monresources LLC ("Monresources") with a view to acquire all the outstanding securities of Monresources. Monresources is a Mongolian corporation active in mineral exploration which owns all rights, title and interests in mining licenses on five mineral exploration properties with a primary focus on gold, all located in Mongolia. The consideration payable to the shareholders of Monresources for the proposed acquisition would be payable partly in cash and partly in treasury common shares of the Company. The price per treasury common share will correspond to the closing price of the common shares on April 4, 2006, being $0.90 per share. The proposed transaction is subject to the completion by the Company of a satisfactory due diligence of Monresources and its assets, to the execution of a definitive agreement, to the approval of the board of directors of the Company and to the obtaining of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. At this point, this proposed transaction does not, in the opinion of the Company, constitute a material acquisition for the Company. In the event of the execution of a definitive agreement, the Company will issue a press release disclosing the material details of the acquisition.

Golden Goose Resources Inc. is a Canadian mining company engaged in the acquisition, exploration and development of resource properties.

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

Contact Information

  • Golden Goose Resources Inc.
    Mr. John R. Macklem
    (705) 454-3043
    (705) 454-3043 (FAX)