Golden Goose signs option to sell its Lac Levac nickel property



    MONTREAL, Aug. 12 /CNW Telbec/ - Golden Goose Resources Inc. (TSX-V: GGR)
(the "Company") is pleased to announce that it has granted Exploration Nemaska
Inc. ('Nemaska') an option to purchase its Lac Levac Properties. The option
was granted for a non-refundable consideration of $150,000 paid in cash and
expires on December 31, 2009.
    Nemaska is currently in the process of raising funds and intends to
complete an initial public offering before year-end. If exercised, the option
will entitle Nemaska to purchase the Lac Levac Properties for a consideration
of $2,850,000 payable, in addition to the initial payment of $150,000, by way
of a $2,000,000 cash payment and the issue of $850,000 in shares of Nemaska at
the IPO price. Nemaska will also grant one warrant per share issued, each
warrant entitling Golden Goose to purchase one share at a 20% premium over the
IPO price for two years. Golden Goose will also appoint a representative to
the board of Nemaska and will retain a 2% net smelter royalty ("NSR"), of
which a 1% NSR can be repurchased by Nemaska for $1,000,000 for the first
three years. The option agreement contains certain break fees payable to
Nemaska in certain circumstances. The transaction is subject to the approval
of the TSX Venture Exchange and to other standard conditions.
    Francois Perron, President and CEO comments "Given our commitment to
focus on our gold resource at the Magino Project, this agreement is timely and
allows Golden Goose to redeploy resources for the development of our gold
project. If the option is exercised, our equity in Nemaska and royalty on the
property will allow us to continue to participate in the future of the Lac
Levac property. The Lac Levac project will benefit from an enhanced land
position and focused exploration and development efforts by the management of
Nemaska".

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

For further information:

For further information: Francois Perron, Golden Goose Resources Inc.,
1-888-928-4667, Fax: 1-888-494-5371, perron@goldengooseres.com

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GOLDEN GOOSE RESOURCES INC.

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