GOLDEN GOOSE RESOURCES INC. REPORTS ITS 2010 SECOND QUARTER RESULTS

MONTREAL, Aug. 27 /CNW Telbec/ - Golden Goose Resources Inc. (TSX-V: GGR) (the "Company") is pleased to report its unaudited interim financial statements for the three and six-month periods ended June 30, 2010 with comparative figures for 2009.

2010 Second quarter operating results
For the three-month period ended June 30, 2010, the Company reported a net income of $158,362 ($0.00 per share) compared with a net loss of $421,040 (loss of $0.01 per share) for the same period of 2009. An unrealized gain on held for-trading financial instruments in the amount of $477,353, coming from financial instruments received as consideration for the sale of Lac Levac property, and a gain of $20,393 realized on the sale of marketable securities was accounted for during the period. Also during the period, general and administrative expenses were reduced from $380,218 to $312,355 this quarter as a result of lower administrative salaries. Interest income increased from $7,786 to $36,580 due to the 8% convertible debenture received as part of the consideration for Lac Levac. 

For the six-month period ended June 30, 2010, the Company reported a net income of $124,325 ($0.00 per share) compared with a net loss of $616,600 (loss of $0.01) for the same period in 2009. The net income realized during the six-month of this year is attributable to a gain of $187,909 on the sale of Lac Levac property on January 15, 2010, to an unrealized gain on held for-trading financial instruments in the amount of $318,878 coming from financial instruments received as consideration for the sale of Lac Levac property, and a realized gain of $20,393 on the sale of marketable securities. Also during the six-month period, Golden Goose recorded an income tax recovery of $237,906 as a result of the reversal of valuation allowance mainly due to the renunciations in favour of the investors by the Company to tax deductions totalling $1,178,600, which was raised through the issuance of flow-through shares in 2009.

Additional information in regards to the first quarter ended June 30, 2010

The financial information in regards to the three and six-month periods ended June 30, 2010 should be read in conjunction with the Company's unaudited interim financial statements and Management and Discussion Analysis dated August 26, 2010. These documents are available at www.sedar.com

ABOUT GOLDEN GOOSE RESOURCES
Golden Goose Resources Inc. is a Canadian public company listed on the TSX Venture Exchange under the symbol GGR. The Company is principally engaged in mineral exploration and acquisition and has a portfolio of gold properties in Ontario and Quebec.

Disclaimer in regards to Forward-Looking Statements

Certain statements included herein, including those that express management's expectations or estimates of our future performance constitute "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Investors are cautioned not to put undue reliance on forward looking statements.

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

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