December 10, 2007, - Vancouver - Golden Peaks Resources Ltd. (TSX:

GL) (the "Company") is pleased to announce that it has filed an environmental impact report with respect to its proposed 2008 exploration program on the Cerro Delta project which is located in the Maricunga Belt, in the northwest corner of La Rioja Province, Argentina, and adjacent to the Chilean border. The Company is also pleased to report that it plans ground geophysical surveys on the project, in January 2008, preparatory to diamond drilling of known porphyry gold-copper targets.

The history of the project goes back to 1991 when regional geological information generated by the Argentine federal government (Direccion General de Fabricaciones) together with the stimulus of the La Rioja provincial government (Direccion de Mineria) led to a re-evaluation of the area by the principals of Cia Minera Alto Rio Salado S.A. a private Argentine company. Cerro Delta was discovered and acquired in 1991. In 1997, exploration by Eldorado Gold Corporation identified a 1 km² IP/magnetic anomaly coincident with a strong gold-in-soil/gold-in-rock anomalies. The project has never been drilled.

The option agreement between Golden Peaks and Minera Alto Rio Salado S.A. covers 16,800 hectares and contains the drill ready target defined by Eldorado Gold Corporation. Golden Peaks has also acquired cateos in its own name covering 13,900 hectares immediately adjacent to the optioned ground with the result that that Golden Peaks now controls a commanding land position in this area.

The Cerro Delta project lies on the same major east-west trending structural zone that hosts the Cerro Casale project (Barrick Gold Corp. 51%; Kinross Gold Corp. 49%) and the Quebrada project (Kinross Gold Corp.100%). There is potential on the Cerro Delta project to discover large mineral deposits comparable to Cerro Casale (22.9 million ounces of gold and 5.8 billion pounds of copper - Barrick Gold Corp. news release dated October 29, 2007) and Quebrada Seca (an inferred resource of 1 million ounces of gold - Bema Gold Corp. Annual Information Form dated March 30, 2006).

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 Communications
[email protected]

Investor Information, contact:
Mike Kordysz, Investor
[email protected]

The TSX 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.