Golden Goose intersects 21.9 grams of gold over 3 metres on the Magino
property

MONTREAL, March 5 /CNW Telbec/ - Golden Goose Resources Inc. (TSX-V: GGR) (the "Company") is pleased to report the results for five new drill holes on its Magino property near Wawa Ontario. Most notably, Holes 10-2 and 10-3 returned 12.7 g/t Au over 4 metres and 21.9 g/t Au over 3 metres, respectively.

The Company's current campaign is to test promising areas on the property outside the known resource envelope. These holes were drilled to test the western extensions of the known resource in light of historical drilling and a new structural interpretation.

Holes 10-2 and 10-3 were drilled to test the continuity of gold bearing zones at the southern contact between the volcanic rock and the granodiorite intrusive, where an earlier hole, 2007-19A, returned 11 g/t Au over 10 metres. They confirmed the presence of high-grade gold mineralization and the continuity of the favourable horizon over a distance of 460 metres to the west. Hole 10-2 intersected high gold grades at the contact, as well as a mineralized structure within the granodiorite intrusive. Hole 10-3 also confirmed the presence of the structure 100 metres below Hole 10-2, albeit with weaker mineralization, but intersected higher-grade mineralization in the granodiorite, where the intrusive narrows to less than 100 metres, compared to 300-400 metres in the main zone.

The best results for the five holes were as follows:

    
    -------------------------------------------------------------------------
    Hole                 From (m)      To (m)      Length (m)    Gold (g/t)
    -------------------------------------------------------------------------
    09-7                   17.00       19.00            2.00           2.4
     including             17.00       18.00            1.00           4.1
    -------------------------------------------------------------------------
    09-8                    5.00        6.00            1.00           1.1
           and             10.00       11.00            1.00           2.3
           and             23.00       28.00            5.00           2.7
    -------------------------------------------------------------------------
    10-1                    8.00        9.75            1.75           1.1
           and             24.00       26.00            2.00           2.0
           and             39.00       40.00            1.00           2.1
           and            111.00      113.00            2.00           2.4
    -------------------------------------------------------------------------
    10-2                   79.00       80.00            1.00           2.0
           and             86.00       88.00            2.00           4.4
     including             86.00       87.00            1.00           8.6
           and             95.00       99.00            4.00           1.8
     including             98.00       99.00            1.00           3.4
           and            126.00      130.00            4.00          12.7
     including            126.00      127.00            1.00          29.0
     including            127.00      128.00            1.00          21.0
           and            167.00      170.00            3.00           1.9
    -------------------------------------------------------------------------
    10-3                   59.00       60.00            1.00           4.6
           and             64.00       69.00            5.00           2.9
     including             64.00       65.00            1.00           9.8
     including             68.00       69.00            1.00           4.5
           and            126.00      127.00            1.00           2.4
           and            240.00      243.00            3.00          21.9
     including            241.00      242.00            1.00          65.3
           and            277.00      279.00            2.00           5.3
     including            277.00      278.00            1.00           8.8
           and            298.00      299.00            1.00           6.3
           and            311.00      313.00            2.00           2.4
    -------------------------------------------------------------------------
    

At the present time, true width is estimated based on the -75 degree dip of the main zone. Current drilling dip varies from -45 to -50 degrees.

A map showing the location of the drill holes and the mineralized structures as interpreted by Golden Goose is posted on the Company's website at www.goldengooseres.com or through the link http://www.goldengooseres.com/medias/docs/pdf/magino_local_03_10.pdf.

The Magino project currently has an estimated measured and indicated resource of in excess of 453,000 ounces of gold in 2,091,900 tonnes at a grade of 6.74 g/t and an inferred resource of 1,100,000 ounces of gold in 5,828,800 tonnes at a grade of 6.29 g/t. This resource was calculated using a cutoff grade of 3.0 g/t; using a higher cutoff of 5.0 g/t results in a measured and indicated resource of approximately 345,000 ounces in 1,200,300 tonnes grading 8.90 g/t and an inferred resource of approximately 800,000 ounces in 2,736,800 tonnes grading 9.08 g/t.

Samples were transported directly to the Accurassays laboratories in Thunder Bay, Ontario and assayed using standard fire assay methods. The information contained in this news release has been reviewed and approved by Gilles Provost, M.Sc.A., P.Geo., and a Qualified Person as defined by NI 43-101.

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, platinum group metals, and nickel properties in Ontario and Quebec.

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

For further information: Renmark Financial Communications Inc.: Dan Symons, [email protected]; Jason Roy, [email protected]; Media: Guy Hurd, [email protected], [phone], [phone]; www.renmarkfinancial.com; Golden Goose Resources Inc.: François Perron, President and Chief Executive Officer, 1-888-928-4667, [email protected]; www.goldengooseres.com, Fax: [phone]