Golden Odyssey Mining Inc.
TSX VENTURE : GOE
OTC Bulletin Board : GODYF

Golden Odyssey Mining Inc.

November 30, 2006 10:00 ET

Golden Odyssey Mining Expands Morningstar Mineralization With Follow-Up Drilling

RENO, NEVADA--(CCNMatthews - Nov. 30, 2006) - Golden Odyssey Mining Inc. ("Golden Odyssey" or the "Corporation") (TSX VENTURE:GOE)(OTCBB:GODYF) announces the results of its follow-up drilling at the Morningstar property, Esmeralda County, Nevada. The target at Morningstar is a "world Class" deposit containing in excess of one million ounces of gold.

Previous work (reported earlier) has identified a large mineral system hosted by a sequence of strongly faulted calcareous and siliceous rocks. Select surface grab samples have returned gold values in the 11.1 to 17.8 g/T range and initial drilling intersected significant intervals of anomalous gold (up to 1.37 g/T). These mineralized zones are also characterized by anomalous levels of several pathfinder elements including arsenic and mercury.

The current drilling was designed to offset, as well as step out from, the previously identified mineralized zones. It has confirmed the existence of continuous gold mineralization and anomalous pathfinder elements in several areas on the property. Significant results include a 55 foot interval averaging 0.036 g/T gold (high of 0.180 g/T) within a 100 foot zone of anomalous arsenic (high of 423 PPM) and mercury (high of 1,341 PPB). This hole was drilled in the "arsenic hill" area where a previously reported hole returned a 40 foot interval of 0.081 g/t gold with strong arsenic and mercury anomalies.

In addition, numerous 10 to 20 foot intervals of similar mineralization occur in all but one of the 6 holes completed in this phase. In this system the threshold value for anomalous gold is considered to be 0.025 g/t and only values above this level are geochemically significant. Additional intervals of up to 95 feet of highly anomalous arsenic and mercury occur without significant gold in several of the holes.

"This drilling extends, and in some cases offsets, the disseminated mineralization encountered in our first phase of drilling", states David R. Shaddrick, President and CEO. "These results provide preliminary geochemical vectors which, in combination with our structural and lithologic compilation, will be used to plan our 2007 drilling program. This work has successfully provided the next essential piece in the systematic progression of our exploration program which we believe has a high probability of discovering a significant ore deposit."

The follow-up drill program consisted of 6 reverse circulation drill holes for a total of 4,196 feet bringing the project total to date to 8,696 feet. Analyses were done by Inspectorate America Labs in Reno, Nevada. On site QA/QC procedures included insertion of standards at 100 foot intervals and collection of duplicate samples on 100 foot intervals. Duplicate samples were sent to American Assay Labs in Reno, Nevada for analysis.

The drill program was supervised by Amy L. Anderson, M.Sc., CPG, LG(Wyo.), a qualified person as defined by NI 43-101. David R. Shaddrick, M.Sc., CPG, P.Geo. (B.C.) is the company's designated qualified person and has approved the content of this disclosure.

The Morningstar project consists of 129 unpatented mining claims covering roughly four square miles in Esmeralda County, Nevada. It is approximately midway between Las Vegas and Reno in the Walker Lane Structural Belt, one of the most highly 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 actively explored by Barrick Gold/Kinross Gold at the producing Round Mountain Mine, Gryphon Gold at the Borealis Mine, and Newcrest at the Redlich project. The Morningstar project exhibits similar geologic characteristics to known world class deposits elsewhere in Nevada. The property includes an old mining district which was actively prospected for quartz veins at the turn of the 20th century. There has been no significant exploration on the property for several decades.

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 five active projects all situated on major gold trends. On the Walker Lane Belt in Esmeralda County the Corporation has the Morningstar and Palmetto projects. On the Cortez Trend in Eureka County, 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 in Elko County the company is exploring the Mexican Hill project which is southeast of Newmont's Rain and Emigrant Springs mines.

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: 30,686,580


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

Contact Information