Golden Peaks Completes La Fortuna Title Transfer

VANCOUVER, Dec. 18 /CNW/ - Golden Peaks Resources Ltd. (TSX: GL) (the "Company") is pleased to report that, further to its news release of November 19, 2009, wherein the Company announced the amendment to the option agreement on the La Fortuna Project, titles to the key claim groups which comprise the La Fortuna Gold Project have now been transferred to the Company's wholly-owned subsidiary, Golden Peaks Minera S.A.

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.

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.

SOURCE GOLDEN PEAKS RESOURCES LTD.

For further information: For further information: Media Information, contact: Scott Emerson, Chairman and Director, SE@goldenpeaks.com; Investor Information, contact: Mike Kordysz, Investor Communications, MK@goldenpeaks.com

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GOLDEN PEAKS RESOURCES LTD.

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