Golden Peaks Resources Ltd. Closes $585,000 Financing

    VANCOUVER, Jan. 14 /CNW/ - Golden Peaks Resources Ltd. (TSX: GL) (the
"Company") is pleased to announce that it has completed a non-brokered private
placement (the "Private Placement") of 3,900,000 units (each a "Unit") at a
purchase price of $0.15 per Unit to raise aggregate gross proceeds to the
Company of $585,000. Each Unit consists of one common share of the Company and
one transferable common share purchase warrant (a "Warrant"). Each Warrant
will entitle the holder to purchase one additional common share of the Company
at an exercise price of $0.20 per share until 12 months after the date of
closing of the Private Placement.
    Proceeds from the Private Placement will be used for general working
capital purposes.
    All securities issued in connection with the Private Placement will be
subject to a four month hold period expiring May 15, 2009.

    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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