Golden Peaks Resources Ltd. - La Fortuna: T-11 Gold Zone Drilling Update

VANCOUVER, Jan. 25 /CNW/ - Golden Peaks Resources Ltd. (TSX: GL) (the "Company") is pleased to report that diamond drilling is underway on the La Fortuna Gold Project, Argentina.

The Drilling is currently focusing at the T11 deposit to better define the gold mineralization, extend known deposit to depth and to test for hanging wall zones of gold mineralization.

In addition this program will test for high grade gold-bearing quartz vein systems/breccias underlying or flanking the T-11 and G deposits.

Previous drill intersections in this immediate area:

    
    --------------------------------------------------------
    Hole No.    From (m)     To (m)      Width    Gold (g/t)
    --------------------------------------------------------
    LF-1          3.00       24.75       21.75       3.30
    --------------------------------------------------------
    LF-1A        19.00       32.90       13.90       3.28
    --------------------------------------------------------
    LF-7          4.00       54.00       50.00       3.65
    --------------------------------------------------------
    LF-8          9.00       32.00       23.00       3.62
    --------------------------------------------------------
    LF-9          6.30       69.00       62.70       2.05
    --------------------------------------------------------
    LF-10        12.20       80.56       68.36       2.35
    --------------------------------------------------------
    LF-11         3.00       41.00       38.00       5.72
    --------------------------------------------------------
    LF-12         7.00       20.00       13.00       3.30
    --------------------------------------------------------
    LF-13        59.00       82.90       23.90       3.97
    --------------------------------------------------------
    LF-98        82.00      102.00       20.00       5.37
    --------------------------------------------------------
    LF-105       83.50      138.50       55.00       2.44
    --------------------------------------------------------

    Drill hole data for the holes reflect down hole core lengths. Please see
    technical report for complete hole details
    

The gold mineralization in the T-11 deposit is shallow and the mineralization is simple - gold with minor silver - and it contains no deleterious metals. Gold mineralization has been intersected in drilling on the T-11 deposit and its satellite bodies over a distance of approximately 1400 meters (88 holes - 11,945.3 meters). The current drill program has the potential of adding significantly to the gold resources in this area.

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

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