Golden Peaks Resources Ltd. - T-11 zone - drilling extends high grade gold



    VANCOUVER, Sept. 25 /CNW/ - Golden Peaks Resources Ltd. (TSX: GL)
announces new results from the T-11 zone, La Fortuna project, Chubut province,
Argentina. High grade gold mineralization was intersected in holes LF-92,
LF-98 and LF-105 (Table 1) which were drilled on section with the discovery
hole LF-11 (5.72 g/t gold over 38.00 meters). Additional drill results from
the T-11 and other zones are pending.

    
    -------------------------------------------------------------------------
    Table 1
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    Hole No.            From     To      Width    Au g/t        Note
    -------------------------------------------------------------------------
    LF-11(*)            3.00    41.00    38.00     5.72
    -------------------------------------------------------------------------
              incl     19.50    29.80    10.30    10.90
    -------------------------------------------------------------------------
              incl     23.35    28.50     5.15    18.34
    -------------------------------------------------------------------------
              incl     33.53    39.55     6.02    10.08
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    LF-92(xx)          93.00   134.00    41.00      1.7           50 m under
                                                          LF-11 intersection
    -------------------------------------------------------------------------
              incl    105.70   112.00     6.30     8.10
    -------------------------------------------------------------------------
              incl    107.70   112.00     4.30    11.17
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    LF-98(xx)          82.00   102.00    20.00     2.68            30m under
                                                           LF92 intersection
    -------------------------------------------------------------------------
              incl     85.00    89.00     4.00     4.00
    -------------------------------------------------------------------------
               and     99.00   102.00     3.00     7.12
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    LF-105(xx)         83.50   138.50    55.00     2.45            40m under
                                                          LF-98 intersection
    -------------------------------------------------------------------------
              incl     83.50    91.00     7.50     3.65
    -------------------------------------------------------------------------
              incl     87.50    91.00     3.50     7.02
    -------------------------------------------------------------------------
              incl     89.50    91.00     1.50    12.66
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
              incl    105.50   110.00     4.50     8.44
    -------------------------------------------------------------------------
              incl    105.50   107.50     2.00    15.14
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
              incl    124.00   138.00    14.00     3.80
    -------------------------------------------------------------------------
              incl    131.50   138.00     6.50     5.66
    -------------------------------------------------------------------------
              incl    135.00   138.00     3.00     8.66
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    LF-107(xx)        160.00   171.00    11.00     0.10            70m under
                                                         LF-105 intersection
    -------------------------------------------------------------------------

    (*)  Previously released (Reference: News Release of February 16, 2006).
    (xx) Drill hole data for the holes reflect down hole core lengths. True
         widths cannot be reliably estimated at this time.
    

    Says Chairman Scott Emerson, "The gold intersections in holes LF-11,
LF-92, LF-98 and LF-105 are very impressive. Drill testing for extensions of
this mineralization to the southeast will be a priority in the up coming round
of drilling."
    The high grade mineralization in this section has been traced from
surface to a vertical depth of approximately 160 meters. The mineralization is
open at depth and on strike to the southeast for a minimum of 250 meters. Hole
LF-107 is interpreted to have undercut the plunge of the mineralization at a
vertical depth of approximately 190 meters.
    The broad zone of gold mineralization in LF-105 includes five separate
high grade zones characterized by carbonate-quartz veining and/or strong
pyrite veining. Similar high grade zones of veining are present in the other
holes. These high grade zones are developed in wide zones of strong
prophylitic alteration, tectonic milling and sulphidation and indicate
multi-phase development of the gold mineralization.
    The mineralization is close to surface as the hill slope is relatively
narrow. The T-11 zone is curvilinear in the vertical and horizontal planes and
additional high grade shoots can be expected.
    The style of mineralization in the G and T-11 zones is similar. These
zones are approximately 800 meters apart and on either side of the Valley
Fault and may be rooted in the fault.
    The drill contractor is Connors Argentina S.A. Split/sawn core samples
are assayed by Alex Stewart (Assayers) Argentina S.A., a certified ISO 9002
laboratory. In accordance with the Company's QC/QA policy all high grade
samples are being check assayed at a different laboratory.
    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 TSX has not reviewed and does not accept responsibility for the
    adequacy or accuracy of this release.

    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.





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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