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

Golden Odyssey Mining Inc.

October 15, 2008 12:15 ET

Golden Odyssey Mining Names Tyrone Docherty as President and CEO

TORONTO, ONTARIO--(Marketwire - Oct. 15, 2008) - Golden Odyssey Mining Inc. (the "Company") (TSX VENTURE:GOE) (PINK SHEETS:GODYF) announced today that it has named Mr. Tyrone Docherty as its new President and Chief Executive Officer and a Director of the Company. Mr. Docherty will be responsible for the day to day operations of the Company, financing and project management.

Previously, Mr. Docherty was the President, CEO and a director of Quinto Mining Corporation Company since June 1997. The market capitalization of Quinto at that time was approximately $4.5 million. Mr. Docherty was responsible for the day-to-day management of the Company's affairs including, obtaining financings both public and private, acquiring various mineral properties, negotiating joint ventures and option agreements as well as overseeing the exploration programs. In June 2008, the assets of Quinto Mining were sold to Consolidated Thompson Iron Mines for approximately $175 million. Consolidated Thompson is an advanced iron ore company in Quebec and is expected to start production of Quinto's property in October 2009. Mr. Docherty raised approximately $30 million for Quinto Mining during the years he was President.

Mr. Docherty commented, "I am excited to join Golden Odyssey Mining at this time. Looking at all of the events that have transpired in the junior exploration market since the beginning of the year, it is a great opportunity to come onboard at this time. Using my vast contacts in the industry, I've already identified a number of new projects that will increase the asset value of the Company. I am confident that I have the necessary skills to lead Golden Odyssey Mining to a new level that will be of benefit to the current and future shareholders."

Michael Berns, Chairman of Golden Odyssey Mining, stated, "We are delighted that Tyrone has joined us. We are looking forward to supporting his new leadership and vision as we pursue exciting, fresh opportunities in the gold, and other natural resource sectors. Following his leadership at Quinto Mining, we hope that Golden Odyssey will be his next success."

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.

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.

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

Contact Information

  • Barry Kaplan Associates
    Andrew J. Kaplan
    Investor/Press Contact
    (732) 747-0702
    (732) 758-1837 (FAX)
    Email: smallkap@aol.com
    or
    Golden Odyssey Mining Inc.
    Walter Henry
    Lead Director
    (416) 414-5825
    Website: www.GOmininginc.com