Golden Peaks Resources Ltd.

    VANCOUVER, March 14 /CNW/ - Golden Peaks Resources Ltd. (TSX: GL)
announces it has received notice from Mauricio Hochschild & Cia. Ltda. that it
has terminated its option on the Nik project, in the province of La Rioja,
Argentina, as it focuses on the Patagonia region and its more advanced
projects. As well, Hochschild has terminated all of its activities in the
Sierra de las Minas area of La Rioja.

    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

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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