Resource Capital Gold Corp GDPEF

News Release

[I_luv_GVG]

Hi everyone, Golden Peaks Resources Ltd. - New Mineralized Shoot in the T-11 zone - 3.90 g/t gold over 34 meters 10/2/2007 VANCOUVER, Oct 02, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Golden Peaks Resources Ltd. (TSX: GL) announces new results from the T-11 zone, La Fortuna project, Chubut province, Argentina. High grade gold mineralization was intersected in hole LF-69 (Table 1) collared approximately 25 meters west of the fence of holes LF-7 and LF-9. ------------------------------------------------------------- Table 1 ------------------------------------------------------------- Hole From To Intersection Gold (m) (m) (m) g/t ------------------------------------------------------------- LF-69 6.00 8.00 2.00 3.98 ------------------------------------------------------------- ------------------------------------------------------------- LF-69 14.00 48.00 34.00 3.90 ------------------------------------------------------------- LF-69 incl 17.00 39.90 22.90 5.37 ------------------------------------------------------------- LF-69 and 17.00 28.00 11.00 6.80 ------------------------------------------------------------- LF-69 and 23.00 28.00 5.00 10.00 ------------------------------------------------------------- ------------------------------------------------------------- LF-69 incl 29.00 39.90 10.90 4.37 ------------------------------------------------------------- LF-69 and 38.00 39.90 1.90 12.03 ------------------------------------------------------------- ------------------------------------------------------------- LF-7(x) 4.00 54.00 50.00 3.65 ------------------------------------------------------------- LF-7(x) incl. 18.50 42.00 23.50 6.70 ------------------------------------------------------------- LF-7(x) incl. 23.00 29.00 6.00 11.66 ------------------------------------------------------------- LF-7(x) incl. 31.30 39.00 7.70 10.68 ------------------------------------------------------------- ------------------------------------------------------------- LF-9(x) 6.30 69.00 62.70 2.05 ------------------------------------------------------------- LF-9(x) incl. 38.50 69.00 30.50 3.07 ------------------------------------------------------------- LF-9(x) incl. 38.50 50.00 11.50 6.56 ------------------------------------------------------------- LF-9(x) incl. 39.00 46.50 7.50 9.42 ------------------------------------------------------------- Estimated true widths: 91% for LF-69 & LF-7, 75% for LF-9. (x) Previously released (Ref.: Press Release of February 21, 2006). Hole LF-69 was drilled beneath a backhoe trench excavated through a flexure ("roll") in the T-11 zone to test for a NW-trending plunge to the mineralization in the trench. It intersected the main gold mineralized zone at vertical depths of from approximately 10.0 to 35.0 meters. The mineralized zone in the hole is wider than at surface confirming a NW-plunging shoot coincident with the flexure. Drilling is planned to follow this new shoot to depth. Hole LF-69 collared in strongly oxidized rock and almost immediately intersected gold mineralization of 3.98 g/t gold over 2.0 meters (see Table 1). This suggests there may be other gold zones paralleling the main T-11 zone in the hanging wall. The 1.5 meter deep back-hoe trench was excavated in the oxidized zone: (Ref.: Press Release of May 2, 2007). Intersections in the trench were: 3.05 g/t gold over 28.0 meters incl. 6.72 g/t gold over 10.0 meters incl. 9.34 g/t gold over 6.0 meters incl. 13.08 g/t gold over 2.0 meters and 16.92 g/t gold over 1.0 meter The drill contractor is Connors Argentina S.A. Split/sawn core samples are assayed by Alex Stewart (Assayers) Argentina S.A., a certified ISO 9002 laboratory. In accordance with the Company's QC/QA policy all high grade samples are being check assayed at a different laboratory. With the recent liquidity concerns over the investments of excess funds, the Company wishes to confirm that it has no investments in asset-backed commercial paper. All excess funds are currently held by the Company in either cash, government treasury bills or government backed promissory notes, all of which have very short maturity dates and are capable of being liquidated on very short notice. Furthermore, the Company intends to continue to invest all such funds in these and other chartered bank short-term instruments in the near future. 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. 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. CONTACT: Media Information, contact: Scott Emerson, Chairman and Director, [e-mail]; Investor Information, contact: Mike Kordysz, Investor Communications, [e-mail] SOURCE Golden Peaks Resources Ltd. Cheers, I_luv_GVG