Golden Odyssey Mining- Proposed Stock Consolidation

NOT FOR DISTRIBUTION IN THE UNITED STATES OF AMERICA

Golden Odyssey Mining Inc. (the "Corporation") (TSX VENTURE:GOE) (PINK
SHEETS:GODYF) announces a proposal by the directors of the Corporation to
possibly consolidate the issued and outstanding common shares on the basis of
three old common shares for one new common share (the "Consolidation"). The
Consolidation must be approved by the shareholders of the Corporation at the
Annual Meeting to be held on July 10, 2008. Upon approval of the resolution, the
directors of the Corporation will have 6 months to give effect to this
resolution or to revoke this special resolution or any portion thereof at any
time prior to the completion.


In addition, the policies of the Exchange require that a company change its name
upon consolidating its issued and outstanding share capital. As a result, the
directors of the Corporation are of the view the name of the Corporation should
be changed to "New Odyssey Exploration Inc." Shareholders of the Corporation
will therefore be asked at the Annual Meeting to be held on July 10, 2008 to
consider and, if thought advisable to pass a resolution to change the name of
the Corporation.


In addition, the Corporation has terminated its lease agreements on Palmetto,
Morningstar and Washiki properties. All properties are located in Nevada.


Details of each of Golden Odyssey's projects can be found on the Company's web
site at www.GOmininginc.com and on SEDAR at www.sedar.com.