Golden Valley Mines Ltd. reported on drilling activities for the company's Abitibi Greenstone Belt "Grassroots Exploration Project". Diamond Drill Programs: A first-phase diamond drilling program has been completed on the Lac Barry Prospect, located in the Urban-Barry Belt, Lebel-sur-Quévillon, Québec. The program consisted of eight drillholes, totaling 999-metres, testing two separate target areas (NE & SW grid areas) on the property separated by a distance of approximately 5 kilometres.

The property is 100%-owned by Golden Valley. Previous government (Ministère des Ressources naturelles du Québec - "MRNQ", RG 2001-14) studies and historical exploration work on the property and surrounding area has identified gold mineralization in the Urban-Barry Belt to be spatially associated with regional NE-SW trending structures. Locally, at the property-scale, the southern most mapped regional fault is referred to as the Barry Fault.

Along this fault, immediately to the northeast of the Lac Barry Prospect, lies the Eastern Extension deposit owned by Bonterra Resources Inc. In respect of same, Bonterra's disclosure documents state that an initial drill defined NI 43-101 inferred gold resource estimate of 492,000 ounces of gold has been calculated. The Lac Barry Prospect is underlain by mafic volcanic rocks intruded by quartz-feldspar porphyry dikes and plugs. The inferred southwest strike extension of the Barry Fault trends across the northern (NE grid area) and central (SW grid area) parts of the property and is associated with the Barry West Shear Zone that hosts the Lac Barry Gold Showing on the property.

Historical exploration results on the showing include grab samples ranging up to 0.67 oz/t Au and a trench sample assay of 0.385 oz/t Au over 1.2-metres recorded in 1991 and, a drill intersection of 0.102 oz/t Au over a core length of 0.90 metres recorded in 1996 (MRNQ, GM 50285 & GM 54825). In addition to the gold potential on the property, volcanogenic massive sulphide mineralization has been identified over the southern sections of the NE grid area where massive sulphides hosting chalcopyrite (copper) mineralization was intersected in two separate holes in 1991, but had no base-metal assaying undertaken on the core (MRNQ, GM 47465). This occurrence is inferred to possibly represent a similar style of mineralization intersected in drilling (0.75% Cu over 0.18 metres) at the Lac Barry Ouest Showing along strike immediately to the NE of the property boundary (MRNQ, GM 38828).

At the Perestroika West (Ouest) Prospect, a four (4) hole, 573-metre drill program was completed (Québec & Ontario Prospects Location Map: Au Prospect #38). The drill core is currently in the logging and sampling process and assay results will be released as they become available.