Mr. Todd Hanas reports

GOLDEN PEAK MINERALS RECEIVES APPROVAL ON DEBT SETTLEMENT TRANSACTION

Golden Peak Minerals Inc., further to its news release dated Oct. 18, 2016, has received TSX Venture Exchange approval on its debt settlement transaction.

The company has issued an aggregate of 9,259 common shares at a deemed price of 27 cents per common share and 177,037 units at a deemed price of 27 cents per unit to settle an aggregate $50,300 of debt. Each unit consists of one common share of the company and one non-transferable share purchase warrant. Each warrant entitles the holder to acquire one additional common share at a price of 36 cents per share for a period of four years from the closing.

The company determined to satisfy this outstanding indebtedness with common shares and units in order to preserve its cash for operations. All securities issued pursuant to the transaction are subject to a four-month-and-one-day hold period.