Mr. Robert Coltura reports

Golden Peak Minerals Inc. has entered into a property purchase agreement with W.S. Ferreira Ltd., whereby the company has agreed to purchase an undivided 100-per-cent interest in four mineral claims covering a total area of approximately 1,024 hectares located in the province of Manitoba known as the Oyster property, subject to a 3-per-cent gross-overriding royalty. In consideration for the Oyster property, the company agreed to issue to Ferreira one million common shares at a deemed price of seven cents per share by Jan. 15, 2016. The closing of the purchase is subject to the approval of the TSX Venture Exchange.

The Oyster property is located in northeastern Manitoba near the town of Gillam and consists of four mineral claims totalling four square miles. The property contains a magnetic feature identified by Ashton Mining of Canada Inc. in 2004. A Manitoba government assessment report written by Andrew Berry, 2005, on the Nelson River property for Ashton Mining of Canada Inc. identified the c4 anomaly as having geophysical properties similar to Attiswapikata kimberlite pipes in Ontario which are currently being mined by De Beers Canada Ltd. All previous work on the Oyster property was conducted by Ashton Mining of Canada. All assessment work was filed with the Manitoba government. Work consisted of an airborne geophysical magnetic survey and a follow-up ground magnetic survey over the c4 anomaly identified in the airborne survey. No further work was performed and Ashton Mining of Canada allowed the property to lapse. The Oyster property was then staked by W.S. Ferreira.

Although there has been a considerable amount of work undertaken on the Oyster property, there has been no drilling. Ashton Mining of Canada was interested in the area for diamonds because the Manitoba government published an open-file report on the Operation Superior compilation of kimberlite indicator mineral survey results authored by Fedikow, Nielsen, Conley and Lenton in 2001. That Manitoba government report identified a diamond indicator mineral train south of the Oyster property. Ashton Mining of Canada postulated that the source of such diamond indicator mineral train could be on the Oyster property. A diamond drill program is planned for the Oyster property to test the c4 anomaly to see if it is a diamondiferous kimberlite. The cost of this work is estimated to be $500,000.

William S. Ferreira, PGeo, MSc, a qualified person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.