Golden Odyssey Mining Inc.

Golden Odyssey Mining Inc.

January 13, 2006 08:30 ET

Golden Odyssey Mining Inc. Announces Private Placement

CALGARY, ALBERTA--(CCNMatthews - Jan. 13, 2006) -

(Not for dissemination in the United States of America)

Golden Odyssey Mining Inc. ("Golden Odyssey" or the "Corporation") (TSX VENTURE:GOE) is pleased to announce that it will offer for sale up to 3,000,000 units of the Corporation ("Units") by way of private placement at a price of $0.25 per Unit (the "Private Placement") for gross proceeds of up to $750,000. Each Unit will consist of one common share of the Corporation ("Common Share") and one-half of one share purchase warrant, with each whole warrant entitling the holder to purchase one Common Share at a price of $0.35 per share for a period of one year (the "Warrants"). The Corporation may pay a commission in accordance with the policies of the TSX Venture Exchange Inc. ("Exchange").

The proceeds from the Private Placement will be used to carry out drilling programs on the Corporation's Morningstar and Palmetto properties, to continue programs on its other properties and for general working capital. The Private Placement is subject to the approval of the Exchange. The Private Placement is expected to close on January 24, 2005.


The Corporation, through a wholly-owned subsidiary, is engaged in mineral exploration in the State of Nevada. The Corporation has four active projects at this time. Two projects, Palmetto and Morningstar, are located on the Walker Lane Belt in Esmeralda County. In addition the Corporation recently reached agreements for the Anchor project on the Battle Mountain/Eureka Trend and the Mexican Hill project 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) 746-2071
    (775) 746-1863 (FAX)