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La Fortuna Option Completed
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June 21, 2007, - Vancouver - Golden Peaks Resources Ltd. (TSX: GL). The
Company is pleased to report that, in accordance with the terms of the
La Fortuna Option Agreement, it has now completed the schedule of
option payments as required under the agreement to earn a 100% interest
in the La Fortuna project. Under the terms of the agreement the vendor
will transfer title of the property to the Company on December 19,
2008, on which date the Company will also be required to pay for all
proven and economically recoverable ounces of gold or gold-silver
equivalent discovered in excess of 1 million ounces to a maximum of 4
million ounces, at US $1 per ounce.
Mr. Scott Emerson, Chairman, stated "The Company's exploration and
development of the La Fortuna Property has been, to date, very
successful, and we believe that the Company has made significant
progress in developing and securing this very valuable asset".
Media Information, contact:
Scott Emerson, Chairman and Director
SE@goldenpeaks.com
Investor Information, contact:
Mike Kordysz, Investor Communications
MK@goldenpeaks.com
The TSX Exchange 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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