GOLDEN GOOSE REPORTS ITS FINANCIAL RESULTS FOR THE FIRST QUARTER
Montreal, Quebec � May 27th, 2008 � Golden Goose Resources Inc. (TSX-V: GGR) (the �Company�) is pleased to report its unaudited interim financial statements for the three-month period ended March 31, 2008 with comparative figures for the same period in 2007. For the quarter ended March 31, 2008, the Company reported net income of $901,365 ($0.02 per share) compared with a net loss of $209,745 (loss of $0.00 per share) for the same quarter of 2007. The net income realized during the quarter is mainly attributable to income tax recovery of 1,285,387 as a result of renunciation by the Company to tax deductions totalling $4,532,083, which was raised through the issuance of flow-through shares in 2006 and 2007, in favour of the investors.
The loss before income tax amounted to $384,022 compared with $209,745 in the first quarter of last year. The increase in the loss before income tax is due to the increase in the stock-based compensation from $52,250 last year to $211,937 this year, following the grant of 630,000 stock options to directors, employees and a consultant on March 6, 2008.
This selected quarterly information must be read in conjunction with the quarterly financial statement filed on www.sedar.com for the quarter ended March 31, 2008.
ABOUT GOLDEN GOOSE RESOURCES
Golden Goose Resources Inc. is a Canadian public company listed on the TSX Venture Exchange under the symbol GGR. The Company is principally engaged in mineral exploration and acquisition and has a portfolio of gold and nickel-platinum group metals properties in Ontario and Quebec.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Golden Goose Resources Inc.
Jean-Marc Lacoste
Phone: 1-888-928-4667
Fax: 1-888-494-5371
email: lacoste@goldengooseres.com
Renmark Financial Communications Inc.
Barry Mire: bmire@renmarkfinancial.com
James Buchanan : jbuchanan@renmarkfinancial.com
Tel.: (514) 939-3989
Fax: (514) 939-3717
www.renmarkfinancial.com
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Golden Goose Resources Inc.
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CODE : GGR.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Golden Goose is a gold exploration company based in Canada. Golden Goose is listed in Canada. Its market capitalisation is CA$ 19.6 millions as of today (US$ 19.5 millions, € 14.5 millions). Its stock quote reached its lowest recent point on December 29, 2000 at CA$ 0.04, and its highest recent level on December 31, 2007 at CA$ 1.25. Golden Goose has 51 562 000 shares outstanding. |