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Re: News Release - Wednesday, April 16, 2008
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April 16, 2008, - Vancouver - Golden Peaks Resources Ltd. (TSX: GL) is
pleased to report receipt of surface sample results from the Hill zone,
La Fortuna project, in Patagonia, Argentina (Table 1: Map 2 -
http://www.goldenpeaks.com/s/LaFortuna-TechAspects.asp?ReportID=296371
). The Hill zone is located between the T-11 gold zone and the
Amphitheatre gold zones on the 5 km long A Structure. Surface gold
mineralization has been found along the entire length of the structure.
These new samples were collected, in November 2007, from surface
mineralization exposed during the preparation of drill platforms in the
area of hole LF-111. The high grade gold and silver values confirm the
presence of multiple gold bearing structures in the area. Platform
construction has been completed and drilling is underway in this area.
Table 1
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Sample Width Gold Silver Note
# (m) g/t g/t
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565 1.50 12.65 24.72 Old sample
783 0.75 9.64 7.20 Old sample
784 0.15 0.02 <0.5 Old sample
1101 Grab <0.01 <0.5 Old sample
1102 Grab 0.83 0.63 Old sample
1103 Grab 10.68 9.20 Old sample
1104 Grab 3.32 4.22 Old sample
1105 Grab 0.04 <0.5 Old sample
1106 Grab 0.70 <0.5 Old sample
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12802 0.50 16.47 5.36 New sample
12803 0.90 6.65 4.85 New sample
12804 0.40 5.84 18.18 New sample
12805 0.50 3.86 6.79 New sample
12806 1.00 5.84 16.37 New sample
12807 Grab 4.58 10.62 New sample
12808 Grab 15.13 24.19 New sample
12809 Grab 28.48 57.17 New sample
12810 0.50 0.77 0.87 New sample
12811 0.15 10.21 27.28 New sample
12812 0.80 66.78 34.90 New sample
12813 1.00 6.45 18.86 New sample
12814 1.00 3.34 14.77 New sample
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Hole LF-111 (N045�/-45�) was drilled as a deep test of surface gold
mineralization grading 9. 64 g/t gold over 0.75 meters. The hole
intersected the mineralized zone (8.5 meters grading 0.65 g/t gold,
incl. 3.43 g/t gold over 1.0 meter) at a vertical depth of
approximately 155 meters.
The La Fortuna project covers a large mineral district in which eight
zones of structurally controlled gold mineralization have been
identified. The structures which host the various gold zones total in
aggregate a lineal distance of approximately 15 kilometers.
The drill contractor is Boart Longyear Latin America. 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 are being 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 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) 2008 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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