Mr. Mike England reports

GOLDEN LAKE EXPLORATION ANNOUNCES FINANCING

Golden Lake Exploration Inc. has arranged a non-brokered private placement of up to 15 million units at a price of five cents per unit for aggregate gross proceeds of $750,000. Each unit will comprise one common share and one transferable share purchase warrant of the company. Each whole warrant will entitle the subscriber to purchase one warrant share for a 24-month period after the closing date at an exercise price of seven cents per share. Net proceeds of the financing will be used to advance the corporation's Jewel Ridge gold property near Eureka, Nev., and for general working capital purposes.

Shares issued pursuant to the financing will be subject to a four-month hold period according to applicable securities laws of Canada.

Finders' fees may be payable on the private placement, subject to the policies of the Canadian Securities Exchange.

About Golden Lake Exploration Inc.

Golden Lake Exploration is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to acquire, explore and develop economic precious metal and base metal properties of merit and to aggressively advance its exploration program on the Jewel Ridge property.