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

Golden Odyssey Mining Inc.

June 05, 2007 10:00 ET

Golden Odyssey Finds Significant Surface Gold on Golden Shirene Project, Walker Lane Belt, Nevada. Drill Targets Defined

RENO, NEVADA--(Marketwire - June 5, 2007) - Golden Odyssey Mining Inc. (TSX VENTURE:GOE) (PINK SHEETS:GODYF) ("Golden Odyssey" or the "Company") is pleased to announce the results of an extensive rock chip sampling program and detailed targeting studies on its Golden Shirene Project on the Walker Lane Belt in Esmeralda County, Nevada.

Four Hundred and seventy-seven rock chip samples were taken over a 1.8 square mile grid to compliment detailed geologic and alteration mapping completed in March. The sampling returned numerous values in excess of 0.5 g/t with a high of 1.675 g/t. Approximately 10% of the samples contained in excess of 0.10 g/t of gold. The sampling also returned strong geochemical anomalies in several pathfinder elements including arsenic (high 10,100 ppm), mercury (high 71 ppm), thallium (high 100 ppm), and antimony (high 927 ppm). As part of the targeting study the Company also carried out characterization studies over known mineralization in the district. This characterization work has helped in defining several high potential drill targets on the Company's claims.

"These results are extremely encouraging and have allowed us to advance the Golden Shirene Project to the next stage of exploration very quickly," stated David R. Shaddrick, President and CEO. "With three advanced projects in our lineup, Golden Shirene, White Rock and Washiki (reported earlier), we are well positioned for early discovery. We expect to commence drilling on White Rock shortly and to continue through the year on the other properties."

Golden Shirene is a large (61 claims) epithermal system with structurally controlled gold values hosted in silicified volcanic and shallow intrusive rocks and limestones. A very small historic, non-43-101 compliant, resource was reportedly defined in the 1980's on claims adjacent to the Company's claims. The Company views this occurrence as a strong geochemical system indicator.

Analyses were completed by ALS CHEMEX labs (ISO certified) in Reno, Nevada. All gold values were determined by one assay ton fire assay with an AA finish. William Walker, R. Geo. (Wyoming), a Qualified Person (QP) as defined in NI 43-101, is responsible for the Company's work on the property.

Details of each of Golden Odyssey's projects can be found on the Company's web site at www.GoMiningInc.com and on SEDAR at www.sedar.com.

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 eight 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. The Company holds the Washiki Project along the southern end of the Getchell Trend, which hosts such deposits as Twin Creeks, Getchell, Preble, Pinson, and Goldbanks. In addition, the project is surrounded by a number of past and present producing mines and several active development projects including Sleeper, Coeur Rochester, Florida Canyon, Marigold and Midway's Spring Valley deposit.

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: 32,849,546

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
    Golden Odyssey Mining Inc.
    Jeffrey R. Wilson
    Cell: (604) 837-5440
    (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