Golden Goose Resources inc. reports its 2009 first quarter results



    MONTREAL, May 25 /CNW Telbec/ - Golden Goose Resources Inc. (TSX-V: GGR)
(the "Company") is pleased to report its unaudited interim financial
statements for the first quarter ended March 31, 2009 with comparative figures
for 2008.

    2009 First quarter operating results

    For the first quarter ended March 31, 2009, the Company reported net loss
of $195,560 (loss of $0.00 per share) compared with a net income of $901,365
($0.02 per share) for the same quarter of 2008. The net income realized during
the first quarter of last year is mainly attributable to income tax recovery
of 1,285,387 as a result of renunciations in favour of the investors by the
Company to tax deductions totalling $4,532,083, which was raised through the
issuance of flow-through shares in 2006 and 2007.
    The loss before income tax amounted to $195,560 compared with $384,022 in
the first quarter of last year. The reduction in the loss before income tax is
mainly due to the decrease in the stock-based compensation from $211,937 last
year to $20,269 this year. In March 2008, the Company granted 630,000 stock
options to directors, employees and a consultant compared with 50,000 in
February 2009.

    Exploration Highlights

    Subsequent to quarter end, a new estimate for the Magino property in
compliance with National Instrument 43-101 - Standards of Disclosure for
Mineral Projects was released and is summarized below:

    
                      Magino Mineral Resources Estimate
                       at a cutoff grade of 3.0 g/t Au


    -------------------------------------------------------------------------
    Category                                  Tonnes   Grade
                                                     (g/t Au)       Ounces
    -------------------------------------------------------------------------
    Measured resource                        222,900    5.97        42,749
    -------------------------------------------------------------------------
    Indicated resource                     1,869,000    6.83       410,440
    -------------------------------------------------------------------------
    Total Measured and Indicated
     resources                             2,091,900    6.74       453,189
    -------------------------------------------------------------------------
    Inferred resources                     5,828,800    6.29     1,178,124
    -------------------------------------------------------------------------
    

    The full 43-101 report is expected by month end. This new resource of
453,000 ounces of measured and indicated and more than 1.1 million ounces of
inferred represents a significant increase from the previous estimate of
717,000 ounces established in May 2008. The Company believes that with this
resource update the Magino property has reached a scale that justifies
focusing its efforts on moving the project forward through the next phases of
growth and development.

    ABOUT GOLDEN GOOSE RE

SOURCES 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, platinum group metals, and nickel properties in Ontario and Quebec. "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."

For further information:

For further information: François Perron, President and CEO, Golden
Goose Resources Inc., 1-888-928-4667, Fax: 1-888-494-5371,
fperron@goldengooseres.com; www.goldengooseres.com

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GOLDEN GOOSE RESOURCES INC.

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