Golden Goose intersects new gold-bearing structures near its Magino deposit

MONTREAL , Feb. 11 /CNW Telbec/ - Golden Goose Resources Inc. (TSX-V: GGR) (the Company) is pleased to announce that it has received the first half of results of drilling on its Magino property near Wawa, Ontario. The first phase of the program consists of about 4,000 metres of diamond drilling, outside but near the current Magino resource envelope.

Drilling was aimed at testing targets in the volcanic rocks, on the south eastern part of the property. Seven (7) mineralized structure with a strike length several hundreds of metres long were intercepted in the volcanic rocks at a depth of about 150 metres. These structures consist of mineralized alteration zones with associated quartz veins, indicating strong gold-bearing potential. The alteration zones are in the range from 1m to 12m (up to 10 m true width) in thickness.

Hole 09-6 also returned a high-grade intercept in a granodiorite near the south contact with the volcanics, namely 4.73 g/t Au over 4.0 metres, including 16.92 g/t Au over 1.0 metre.

The best results obtained in Holes 09-1 to 09-7 were as follows:

    
    -------------------------------------------------------------------------
    Hole                       From (m)     To (m)   Length (m)   Gold (g/t)
    -------------------------------------------------------------------------
    09-1                         85.00      87.00         2.00         1.74
                                150.00     151.00         1.00         1.88
    -------------------------------------------------------------------------
    09-2                         94.00      98.00         4.00         2.85
                                113.00     116.00         3.00         1.13
    -------------------------------------------------------------------------
    09-3                         20.00      32.00        12.00         1.39
           including             23.00      24.00         1.00         5.53
                                 42.00      45.00         3.00         2.99
           including             42.00      43.00         1.00         7.11
                                153.00     155.00         2.00         4.41
           including            153.00     154.00         1.00         8.46
                                187.00     188.00         1.00         1.28
    -------------------------------------------------------------------------
    09-6                         18.00      22.00         4.00         4.73
           including             21.00      22.00         1.00        16.92
                                 98.00     100.00         2.00         4.73
                                187.00     188.00         2.00         1.28
    -------------------------------------------------------------------------
    

At the present time we estimate true width 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_2009-10.pdf.

The second part of the current drilling program will test the western extensions of the known resource based on results obtained in historical drilling and the new structural interpretation.

The scoping study on the 43-101 resource (initially announced May 30th, 2009 ) for the Magino project is progressing on schedule for completion in March 2010 . The Magino project currently has an estimated measured and indicated resource of in excess of 453,000 ounces of gold at a grade of 6.74 g/t and an inferred resource of 1,100,000 ounces of gold 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 grading 8.90 g/t and an inferred resource of approximately 800,000 ounces 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."

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