Golden Odyssey Mining Inc.
TSX VENTURE : GOE

Golden Odyssey Mining Inc.

September 27, 2005 08:00 ET

Golden Odyssey Mining Inc. Announces Acquisition of Anchor Property on the Battle Mountain/Eureka Trend

CALGARY, ALBERTA--(CCNMatthews - Sept. 27, 2005) -

(Not for dissemination in the United States of America)

Golden Odyssey Mining Inc. (TSX VENTURE:GOE) ("Golden Odyssey" or the "Corporation") is pleased to announce that it has obtained an exclusive option to acquire a 100% leasehold interest in the Anchor Property from Nevada Eagle, LLC and Dixie Ventures, LLC, Partners ("Owners"). The agreement is subject to regulatory approval as well as due diligence of title. The property consists of 23 unpatented mining claims on the Battle Mountain/Eureka Trend in Eureka County, Nevada, approximately 240 miles East of Reno. It is situated 6 miles northwest of Barrick's Archimedes deposit and 21 miles southeast of the Gold Bar Mine. The property is also 41 miles on trend from the Cortez Hills discovery of Placer Dome. The agreement calls for Golden Odyssey to pay all state and federal filing fees for the claims in return for a 120 day lease option. The option may be exercised by the completion of a definitive lease agreement, subject to board and regulatory approval, and an initial advanced minimum royalty payment of US$ 10,000 and 25,000 Golden Odyssey shares. The owners retain a 3% NSR royalty, two points of which may be purchased by Golden Odyssey for US$ 1,000,000 per point.

The property currently has one identified drill target and Golden Odyssey will immediately commence a detailed synthesis and analysis of the extensive database on the property to assist in planning the work necessary to develop additional drill targets.

ABOUT GOLDEN ODYSSEY

The Corporation is a company engaged, through its subsidiary Golden Odyssey Exploration Inc. ("Golden Subsidiary"), in mineral exploration in the State of Nevada. The company is actively exploring three significant properties, two, Palmetto and Morningstar, on the Walker Lane Belt in Esmeralda County, and one, Anchor (reported above) on the Battle Mountain/Eureka Trend in Eureka, County, Nevada.

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, market acceptance of principal products, the impact of competitive products and technologies, the possibility of products infringing patents and other intellectual property of fourth parties, and costs of product development. 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 financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Golden Odyssey Mining Inc.

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

Contact Information

  • Golden Odyssey Mining Inc.
    David R. Shaddrick
    President and Chief Executive Officer
    (775) 787-8400
    (775) 787-8466 (FAX)