Golden Odyssey Mining Inc.
TSX VENTURE : GOE

Golden Odyssey Mining Inc.

October 14, 2005 14:47 ET

Golden Odyssey Mining Inc. Announces Acquisition of Mexican Hill Property on the Carlin Trend

CALGARY, ALBERTA--(CCNMatthews - Oct. 14, 2005) - Golden Odyssey Mining Inc. ("Golden Odyssey" or the "Corporation") (TSX VENTURE:GOE) is pleased to announce that it has acquired a 100% leasehold interest in the Anchor Property from Scoonover Exploration LLC, ("Owner"). The agreement is subject to regulatory approval as well as due diligence of title. The property consists of 49 unpatented mining claims on the Carlin Trend in Elko County, Nevada. It is situated approximately 30 miles south, on trend, of Newmont's Rain and Emigrant deposits. The agreement calls for Golden Odyssey to pay all state and federal filing fees for the claims and an initial advance minimum royalty payment of US$ 5,000 in six months. The owner retains a 3% NSR royalty, two percentage points of which may be purchased by Golden Odyssey for US$ 1,000,000 per point. Golden Odyssey will immediately commence a detailed synthesis and analysis of the available data on the property to assist in planning the work necessary to develop drill targets.

In other news, Golden Odyssey has commenced a follow-up, detailed mapping and sampling program on the Camp Zone at its Palmetto Property in Esmeralda County, Nevada. This work is part of a program to identify high angle "feeders" which are the source of the alteration and mineralization identified earlier. The final drilling of the phase one program will be targeted on these "feeders".

ABOUT GOLDEN ODYSSEY

Golden Odyssey, through a wholly-owned subsidiary, is engaged in mineral exploration in the State of Nevada. The Company has 4 active projects at this time. Two projects, Palmetto and Morningstar, are located on the Walker Lane Belt in Esmerelda County. In addition the Company recently reached an agreement for the Anchor project on the Battle Mountain/Eureka Trend and the Mexican Hill project located on the Carlin Trend.

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)