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

Golden Odyssey Mining Inc.

March 27, 2007 10:30 ET

Golden Odyssey Announces 2007 Exploration Plans

RENO, NEVADA--(CCNMatthews - March 27, 2007) - Golden Odyssey Mining Inc. ("Golden Odyssey" or the "Company") (TSX VENTURE:GOE) (PINK SHEETS:GODYF)is pleased to announce the details of its initial 2007 exploration program. With the closing of the latest financing announced earlier today (PR #6-07 dated March 27, 2007) the Company is adequately funded to carry out its aggressive exploration programs which will include ongoing work on several of its advanced projects. The planned work for 2007 will focus on drilling at five project areas as well as mapping, sampling and geophysical surveys at several others. Additionally, the Company will continue its ongoing exploration and acquisition activities.

The Company plans drill programs at White Rock in extreme northeastern Nevada, Anchor and JDS on the Battle Mountain-Eureka Trend, Mexican Hill on the Carlin Trend and Golden Shirene on the Walker Lane Belt. This work is expected to total approximately 20,000 feet of reverse circulation rotary ("RCR") drilling and 20,000 feet of core. The Company has made arrangements to have a RCR drill rig available throughout the year and is currently requesting bids for the core drilling. The extensive body of data developed by the company at the Palmetto and Morningstar projects continues to be evaluated and target modeling is in progress. Exploration plans for these projects will be announced when this work is completed.

Mr. David R. Shaddrick, President and CEO states, "this will be a very exciting year for the Company. Each of our projects has the potential for a very large gold deposit and the planned drilling and exploration work is focused on verifying and developing that potential."

About Golden Odyssey

The Company, through a wholly owned subsidiary, is engaged in the acquisition and exploration of mineral properties in the State of Nevada. Golden Odyssey now has seven active projects, most situated on major gold trends. On the Walker Lane Belt in Esmeralda County the Company has the Golden Shirene, Morningstar and Palmetto projects. The Walker Lane Belt is one of the most prospective areas of Nevada. This highly mineralized trend has hosted some of the most important mining districts in North America including the famous Comstock, Tonopah, Goldfield, Bullfrog and Aurora districts. The region is currently being explored by Kinross Gold/ Barrick Gold at the Round Mountain Mine, Gryphon Gold at the Borealis Mine and Newcrest Mining at the Redlich project. On the Cortez Trend in Eureka County, the Company holds the Anchor and JDS projects, situated on trend with Barrick Gold Corporation's East Archimedes mine and US Gold Corporation's Tonkin Springs Mine. On the Carlin Trend in Elko County the Company is exploring the Mexican Hill project which is southeast of Newmont's Rain and Emigrant Springs mines. Also in northeastern Nevada, the company holds the White Rock project where the company is currently working to verify historic, non 43-101 compliant reports of significant drilling and gold mineralization.

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: 31,864,580

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

Contact Information

  • INVESTOR/PRESS CONTACT:
    Barry Kaplan Associates
    Andrew J. Kaplan
    (732) 747-0702
    (732) 758-1837 (FAX)
    Email: smallkap@aol.com
    or
    INVESTOR/PRESS CONTACT:
    Golden Odyssey Mining Inc.
    Jeffrey R. Wilson
    (604) 837-5440 (cellular)
    (775) 787-8466 (FAX)
    Email: jwilson@GOmininginc.com
    or
    CORPORATE CONTACT:
    Golden Odyssey Mining Inc.
    David R. Shaddrick, President & CEO
    (775) 787-8400
    (775) 787-8466 (FAX)
    Email: dshaddrick@gomininginc.com