Golden Peaks Resources Ltd. - La Fortuna Option Completed

    VANCOUVER, June 21 /CNW/ - Golden Peaks Resources Ltd. (TSX: GL). The
Company is pleased to report that, in accordance with the terms of the La
Fortuna Option Agreement, it has now completed the schedule of option payments
as required under the agreement to earn a 100% interest in the La Fortuna
project. Under the terms of the agreement the vendor will transfer title of
the property to the Company on December 19, 2008, on which date the Company
will also be required to pay for all proven and economically recoverable
ounces of gold or gold-silver equivalent discovered in excess of 1 million
ounces to a maximum of 4 million ounces, at US $1 per ounce.
    Mr. Scott Emerson, Chairman, stated "The Company's exploration and
development of the La Fortuna Property has been, to date, very successful, and
we believe that the Company has made significant progress in developing and
securing this very valuable asset".

    The TSX Exchange 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

For further information:

For further information: Media Information, contact: Scott Emerson,
Chairman and Director,; Investor Information, contact: Mike
Kordysz, Investor Communications,

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