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La Fortuna - New Discovery Area at G Zone-18m of 4.19g/t Gold
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June 27, 2007, - Vancouver - Golden Peaks Resources Ltd. (TSX: GL) is
pleased to announce that drilling on the G zone (10 holes-1,437.6
meters-Table 1), La Fortuna gold project, Argentina, has confirmed the
presence of shallow mineralization similar to the T-11 zone. The G zone
is situated on the intersection of the CR Structure and
Amphitheatre-style alteration and sub-volcanic breccias. The G zone is
located 1 kilometer from T-11 . The widespread presence of gold in this
structurally disrupted area is very encouraging and the possibility of
multiple zones of gold mineralization is high.

The mineralization, although irregular in shape, is interpreted to dip
to the southwest. Possible extensions at similar elevations to the NW
and SE have not yet been drill tested -- the potential strike length is
estimated at 1,200 meters. Similarly, the possible down dip extension
of the mineralization to the southwest has not been drill tested. The
deepest intercepts are +/-60 meters.

An area of mineralization approximately 100 X 125 meters has been
identified at surface (Map
1http://www.goldenpeaks.com/s/LaFortuna-TechAspects.asp?ReportID=15420
9&_Title=La-Fortuna-Mineralized-Structures & Map 2
http://www.goldenpeaks.com/s/LaFortuna-TechAspects.asp?ReportID=192658
&_Title=G-Zone-drilling-surface-sampling). Holes drilled along strike
of the high grade but at lower elevations intersected other zones of
mineralization in the footwall below the high grade. Similarly, surface
samples collected at the same elevation as the high grade generally
contained high grade gold whereas samples collected at lower elevations
contained lower grades of gold (Map 2).

Said Scott Emerson, Chairman, "This discovery at the G zone is
extremely significant as it demonstrates the potential for this
important style of mineralization to occur in many areas. The Company
has now identified several and unique and different styles of gold
mineralization ( T-11, Amphitheatre, Canadon Bagual and ML zones),
throughout this mineral district".

Table 1


Hole From To Intersection Gold Note
(m) (m) (m) g/t
LF-68* 49.00 60.00 11.00 3.33 Mineralized zone
incl 56.00 59.00 3.00 5.3
and 57.00 59.00 2.00 6.64

LF-70* 66.00 88.00 22.00 3.65 Mineralized zone
incl 69.00 73.50 4.50 8.58
and 70.00 73.50 3.50 10.67
and 79.00 84.00 5.00 6.30

CRW-9 20.00 61.00 41.00 2.01 Mineralized zone
CRW-9 incl 40.00 58.00 18.00 4.19
CRW-9 and 40.00 54.00 14.00 5.25
CRW-9 and 47.00 53.00 6.00 8.65

CRW-10 50.00 145.00 95.00 0.73 Mineralized zone
CRW-10 incl 71.00 87.00 16.00 3.76
CRW-10 and 71.00 82.00 11.00 5.19
CRW-10 and 72.80 76.70 3.90 11.23

CRW-11 65.00 87.00 22.00 0.87 Mineralized zone
CRW-11 incl 80.00 82.00 2.00 5.89
CRW-11 and 81.00 82.00 1.00 8.55

CRW-15 22.00 44.00 22.00 1.56 Mineralized zone
CRW-15 24.00 26.00 2.00 4.64
CRW-15 33.00 36.00 3.00 3.60

CRW-8 incl 37.00 75.00 38.00 0.87 Footwall zone
CRW-8 51.00 58.00 7.00 3.10

CRW-12 50.00 56.00 6.00 0.44 Footwall zone
CRW-12 91.00 99.00 8.00 0.27
CRW-12 110.00 119.00 9.00 0.17

CRW-13 55.00 63.00 8.00 1.37 Footwall zone
CRW-13 incl 57.00 60.00 3.00 3.01
CRW-13 96.00 98.00 2.00 1.35

CRW-14 61.00 68.00 7.00 0.21 Footwall zone ?
CRW-14 79.00 95.00 16.00 1.36
CRW-14 incl 86.00 89.00 3.00 4.00

CRW-7 96.00 112.00 16.00 0.13 Other zone ?

CRW-16 150.00 163.00 13.00 0.56 Other zone ?


* Previously released (Reference: News Release of February 21, 2007).
Drill hole data for the holes reflect down hole core lengths. True
widths cannot be reliably estimated at this time. All holes drilled
towards the NE

The G zone is located at the north end of the 3.3 kilometers long CR
Structure. Shallow reconnaissance drilling of surface gold showings
along a 1.3 kilometers segment of the structure consistently
intersected gold mineralization (see News Release dated October 24,
2006). As in the G zone the mineralization is interpreted to be hosted
in a southwest dipping structure. The possible down dip extension of
the mineralization has not been drill tested. Reconnaissance drilling
of other surface zones of gold mineralization has been recently
completed. Results are awaited.

The Company is currently completing a reinterpretation of the various
zones of gold mineralization along the CR Structure in preparation for
a follow-up program of delineation drilling.

The drill contractor is Connors Argentina S.A. Split/sawn core samples
are assayed by Alex Stewart (Assayers) Argentina S.A., a certified ISO
9002 laboratory. In accordance with the Company's QC/QA policy all high
grade samples will be check assayed at a different laboratory.

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.

Media Information, contact:
Scott Emerson, Chairman and Director
SE@goldenpeaks.com

Investor Information, contact:
Mike Kordysz, Investor Communications
MK@goldenpeaks.com

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 statement.

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Copyright (c) 2007 GOLDEN PEAKS RESOURCES LTD. (TSX-V:GL) All rights
reserved. For more information visit our website at
http://www.goldenpeaks.com/ or send mailto:info@goldenpeaks.com
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