Golden Peaks Resources Ltd. - Cerro Delta Project, Argentina

Wednesday January 21, 12:05 pm ET

VANCOUVER, Jan. 21 /CNW/ - Golden Peaks Resources Ltd. (TSX: GL -
News; the "Company") is pleased to provide an update on its Cerro
Delta Project, La Rioja Province, Argentina. The Company is currently
awaiting approval of its environmental impact study (EIS) for the
upcoming diamond drilling program on the project. Company and
Government officials are presently on site and drilling will commence
once...all permits have been received.

Cerro Delta is a porphyry gold-copper system. The company has recently
received and reviewed the completed geophysical report on the
Pole-Dipole IP/Resistivity and Ground Magnetic Surveys completed by
Quantec Geoscience Argentina S.A. The new imagery clearly shows large
scale porphyry and associated structural targets coincident with
anomalous surface gold values. Drill targets have been selected for
testing with widely spaced holes. Once the broad extent of the system
has been established a tighter drill spacing will be used to establish
the distribution of higher and lower grade mineralization in the system.

The Cerro Delta project is located in the Maricunga gold district of
Chile/Argentina (42 million ounces of gold discovered to date). The
drill targets lie on the same structure that hosts the Cerro Casale
deposit, which is located approximately 20 km to the west. According
to Barrick Gold Corporation the Cerro Casale deposit is one of the
world's largest undeveloped gold and copper deposits. A
pre-feasibility study on Cerro Casale is expected by about mid-2009.

(Ref.:
http://www.barrick.com/GlobalOperations/Projects/CerroCasale/default.aspx)

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

http://aktien.wallstreet-online.de/6317.html