======================================================================
La Fortuna: T-11 Zone Extended
======================================================================
January 10, 2008, - Vancouver - Golden Peaks Resources Ltd. (TSX: GL)
(the "Company") is pleased to report the results of 24 holes from the
La Fortuna gold project, Chubut province, Argentina. The T-11 structure
has now been drill tested over a length of 900 meters (98 holes to
date). These 24 holes http://www.goldenpeaks.com/i/pdf/Table1PRJanuary10.pdf
were drilled on a 181 meter portion along the structure of the T-11 zone.
23 of the holes intersected gold mineralization.
These results along with previously announced T-11 results demonstrates
the T-11 gold zone now extends over a minimum distance of 250 meters at
shallow depths, has an overall dip to the north, and plunges to the
northwest. Further results from the T-11 zone are pending.
High grade gold mineralization was intersected in holes LF-39, LF-51,
LF-63, LF-73, which were drilled to extend the T-11 zone to the
northwest of discovery hole LF-7 (reference news release February 21,
2006). The Company believes the main T-11 gold zone lies at a deeper
level in the northwest. The Company is currently drilling deep holes in
this area to verify our interpretation that the mineralization gets
better at depth.
High grade gold mineralization was also intersected in holes LF 76 and
LF-103, which have identified a new zone of mineralization. The gold
mineralization is similar to the gold mineralization found at the G
zone. The intercepts in holes LF-76 and LF-103 are located
approximately 54 and 100 meters respectively south of the T-11 zone
http://www.goldenpeaks.com/s/Image.asp?i=maps/T-11DrillPlan.jpg&id=280215e.
Additional drilling is being undertaken in this area.
The high grade drill results are detailed below.
-------------------------------------------------------------------------
Hole From To Interval Gold
No. (m) (m) (m) (g/t)
-------------------------------------------------------------------------
LF-39 36.50 70.50 34.00 1.11
-------------------------------------------------------------------------
incl 50.00 61.00 11.00 2.39
-------------------------------------------------------------------------
and 50.00 54.50 4.50 3.19
-------------------------------------------------------------------------
and 52.50 58.00 5.50 2.91
-------------------------------------------------------------------------
and 52.50 54.50 2.00 4.86
-------------------------------------------------------------------------
-------------------------------------------------------------------------
LF-51 38.30 70.00 31.70 1.96
-------------------------------------------------------------------------
incl 43.00 59.00 16.00 2.79
-------------------------------------------------------------------------
and 50.00 57.00 7.00 4.76
-------------------------------------------------------------------------
and 54.00 59.00 5.00 5.94
-------------------------------------------------------------------------
and 54.00 57.00 3.00 8.66
-------------------------------------------------------------------------
and 54.00 55.00 1.00 11.07
-------------------------------------------------------------------------
-------------------------------------------------------------------------
LF-63 9.00 20.00 11.00 2.60
-------------------------------------------------------------------------
incl 11.50 15.50 4.00 6.29
-------------------------------------------------------------------------
and 11.50 12.50 1.00 17.00
-------------------------------------------------------------------------
and 12.00 12.50 0.50 22.53
-------------------------------------------------------------------------
-------------------------------------------------------------------------
LF-73 53.80 62.00 8.20 1.42
-------------------------------------------------------------------------
incl 57.30 62.00 4.70 2.12
-------------------------------------------------------------------------
incl 58.80 59.80 1.00 5.20
-------------------------------------------------------------------------
-------------------------------------------------------------------------
LF-76 97.00 104.00 7.00 1.45
-------------------------------------------------------------------------
incl 97.00 99.00 2.00 4.56
-------------------------------------------------------------------------
and 97.00 98.00 1.00 7.77
-------------------------------------------------------------------------
-------------------------------------------------------------------------
LF-103 15.00 18.00 3.00 0.48
-------------------------------------------------------------------------
22.00 26.00 4.00 2.46
-------------------------------------------------------------------------
incl 24.00 25.00 1.00 7.15
-------------------------------------------------------------------------
Note: Drill hole data for the holes reflect down hole core lengths.
True widths cannot be reliably estimated at this time.
Said Chairman Scott Emerson: "The T-11 style of gold mineralization has
now been found in three areas and is probably more widespread than
currently recognized. We are developing resources in this area at a
rapid pace. T-11 type deposits quickly add resources."
The drill contractor is Connors Argentina S.A. Split/sawn core samples
are assayed by Alex Stewart (Assayers) Argentina S.A., a certified ISO
9002 laboratory. In accordance with the Company's QC/QA policy all high
grade samples are being check assayed at a different laboratory.
This press release has been reviewed and approved by Dr. Kieran Downes,
P.Geo., President of Golden Peaks Resources Ltd. and a Qualified Person
as defined by National Instrument 43-101, under whose direction the
exploration programs are being carried out.
Media Information, contact:
Scott Emerson, Chairman and Director
Investor Information, contact:
Mike Kordysz, Investor Communications
The statements herein that are not historical facts are forward-looking
statements. These statements address future events and conditions and
so involve inherent risks and uncertainties, as disclosed under the
heading "Risk Factors" in the company's periodic filings with Canadian
securities regulators. Actual results could differ from those currently
projected. The Company does not assume the obligation to update any
forward-looking statement.
======================================================================
Copyright (c) 2008 GOLDEN PEAKS RESOURCES LTD. (TSX-V:GL) All rights
reserved. For more information visit our website at
http://www.goldenpeaks.com/ or send mailto:info@goldenpeaks.com
======================================================================
.