Golden Odyssey Mining Inc.
Pink Sheets : GODYF

Golden Odyssey Mining Inc.

January 02, 2007 15:53 ET

Golden Odyssey Announces Option Grants, Appointment of Corporate Secretary

RENO, NEVADA--(CCNMatthews - Jan. 2, 2007) - Golden Odyssey Mining Inc. (TSX VENTURE:GOE) (PINK SHEETS:GODYF) ("Golden Odyssey" or the "Corporation") announces that the Board of Directors has approved the granting of stock options to directors, officers and consultants under its incentive stock option plan. Options to purchase 585,000 common shares of Golden Odyssey were issued with an exercise price of $0.30 per share. The options are for a term of five years with standard vesting provisions.

In other news, the Corporation has appointed Mr. Brent Cage of Calgary, Alberta as its Corporate Secretary. Mr. Cage is an attorney with Burstall Winger LLP who are the Corporation's solicitors.

About Golden Odyssey

The Corporation, through a wholly owned subsidiary, is engaged in the acquisition and exploration of mineral properties in the State of Nevada. Golden Odyssey currently has six active projects all situated on major gold trends. On the Walker Lane Belt in western Nevada, the Corporation has the GS, Morningstar and Palmetto projects. The Walker Lane is one of the most prospective areas of the state. This highly mineralized trend hosts 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 northeastern Nevada, the Corporation 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, also in northeastern Nevada, the Corporation is exploring the Mexican Hill project which is on trend with Newmont's Rain District. The Carlin Trend is one of the largest gold districts in the world with past production in excess of 50 million ounces of gold and announced proven and probable reserves of over 100 million ounces.

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: 31,684,580

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

Contact Information

    Barry Kaplan Associates
    Andrew J. Kaplan
    (732) 747-0702
    (732) 758-1837 (FAX)
    Golden Odyssey Mining Inc.
    Jeffrey R. Wilson
    (604) 837-5440 cellular
    Golden Odyssey Mining Inc.
    David R. Shaddrick, President and CEO
    (775) 787-8400
    (775) 787-8466 (FAX)