INREMI Report on La Fortuna Gold Project; Argentina

VANCOUVER , Dec. 10 /CNW/ - Golden Peaks Resources Ltd. (TSX: GL) (the "Company") is pleased to report it has recently received an integrated study completed by the Instituto de Recursos Mineralises (INREMI) of La Plata university, Argentina . The INREMI study integrated available data from gold assays, geochemistry, fluid inclusion data, petrographic & polished thin section studies, and PIMA alteration studies.

Fluid inclusions are remnants of fluids that existed at the time the mineralization formed. As such they give valuable information as to the temperature and composition of the fluid which deposited the gold mineralization.

Petrographic & polished thin section studies are used to determine what minerals are present with gold in the mineralization, and their relationships.

The PIMA (portable infrared mineral analyser) is a spectrometer that measures the infrared (1300-2500-nm wavelength) radiation reflected from illuminated geological samples. PIMA is used to identify minerals commonly formed during hydrothermal alteration.

    
    The study concluded the following:

    1.  The mineralization (five phases) is of Jurassic age and formed in an
        arc or back-arc rift environment.
    2.  The alteration noted at the T-11 and G zones conforms to early, high
        temperature (280 to 300 ºC), probably deep level alteration, of low
        to moderate salinity.
    3.  The mineralogy changes from gold with copper in the area of the T-
        11/G/CR zones to gold with zinc-lead in the southeast.
    4.  The highest grades of gold and silver are in the area of the T-11, G
        and CR zones.
    

The conclusions of the INREMI study support the field observations and the conclusions of the geostatistical analysis of the geochemistry of the mineralized systems (News Release December 3, 2009 ) that the focus areas identified for the proposed drill program are at the T-11, G and CR zones.

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.

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