Golden Peaks Resources Ltd. announced that at its Annual General Meeting held on October 22, 2009, shareholders elected Scott Emerson, Kieran Downes, Nick DeMare, Gil Leathley and William Lee as directors of the company. At a directors meeting held subsequent to the Meeting, the directors appointed Mr. Scott Emerson as Chairman, Mr. Kieran Downes as President and Chief Executive Officer and Mr. Harvey Lim as Chief Financial Officer and Secretary.

Golden Peaks Resources Ltd., Board Meeting, Oct 22, 2009 Agenda: To appoint Mr. Scott Emerson as Chairman, Mr. Kieran Downes as President and Chief Executive Officer and Mr. Harvey Lim as Chief Financial Officer and Secretary.

Golden Peaks Resources Ltd. reported unaudited consolidated earnings results for the first quarter ended July 31, 2009. For the quarter, the company reported net loss and comprehensive loss of CAD 249,506 or CAD 0.01 per basic and diluted share compared to net loss and comprehensive loss of CAD 1,239,096 or CAD 0.04 per basic and diluted share for the same period a year ago. The company reported loss before interest income and foreign exchange loss of CAD 242,675 compared to loss before interest income and foreign exchange loss of CAD 1,291,857 for the same period a year ago. Cash used for operating activities was CAD 274,851 compared to cash used for operating activities was CAD 1,396,878 for the same period a year ago. Expenditures on resource interests was CAD 10,917 compared to expenditures on resource interests of CAD 22,219 for the same period a year ago.