Golden Valley Mines Ltd. announced the receipt from Sirios Resources Inc. of results from five more diamond drill holes, thus completing the series of 11 holes drilled last September on the Cheechoo gold property All five holes intersected gold-bearing zones with the better intervals. Drill hole# 28 has intersected the up-dip extensions of zone Jordi and zone I that were intersected by drill hole #18 with 1.53 g/t Au over 19.5 metres and 2.79 g/t over 22.5 metres respectively; these zones were also intersected at around 30 metres below the hole #18 by hole #20 with 15.61 g/t Au over 9.7 m; 15.04 g/t Au over 12.3 m. With only few drill holes, the zones Jordi and I have already been intersected over an area of around 300 m and 125 m laterally, by 170 m and 225 m, respectively, after their dip. Drill hole #24 has also intersected another gold zone, Zone K, yielding 1.58 g/t Au over 16.1 m where the edges seem to have been intersected by drill holes #22 and 27.

The gold zones seem to form stacked tabular structures comprised in a low-grade gold halo. It seems there are at least four distinct zones in the property, however, only additional drill holes will allow to identify the number of zones as well as their extents. All identified zones remain open in length and in depth.

Other gold zones with lower gold grade or with smaller lengths were also intersected. For holes #22, 24, 27, 28 and 29, 687 samples representing 855 metres of NQ drill core, were sawed in half, with one half sent to a commercial laboratory for analysis and other half retained for future reference. A strict QA/QC program was followed by integrating blanks and certified reference materials to the drill core samples, all of which were prepared by IOS Services Goscientifiques inc. of Chicoutimi, and assayed for gold by fire assay and atomic absorption finish (AA24) by the ALS Minerals laboratories in Val d'Or, Quebec.

Samples grading more than 3 g/t were re-assayed by fire assay with gravimetric finish.