Appointment of Director

GOLDEN PEAK MINERALS INC.

SUITE 200 – 551 HOWE STREET VANCOUVER, BRITISH COLUMBIA, V6C 2C2

Telephone: (604) 683-8610 Facsimile: (604) 683-8605

NEWS RELEASE

APPOINTMENT OF DIRECTOR

August 28, 2014

GOLDEN PEAK MINERALS INC. (the “Company”) (TSX-V: “GP”) wishes to announce the appointment of Greg Olesen to its board of directors effective immediately.

Mr. Olesen is currently employed as a Senior Construction Manager at the Long Lake Oil Sands production facility and upgrader operated by Nexen Inc. in Fort McMurray, Alberta. He has 32 years of experience in supervising Nexen Inc.’s construction and maintenance projects in the oil, gas and pipeline sectors, in both Alberta and in Yemen, Middle East.

About the Company

The Company is engaged in the business of mineral exploration in British Columbia. Its objective is to locate and develop economic precious and base metals properties of merit and to conduct its exploration program on the Columbia Shear Property. The Columbia Shear Property consists of twenty-two contiguous mineral claims comprising an aggregate 3,240.23 hectares, located in the Victoria Mining Division, British Columbia.

ON BEHALF OF THE BOARD OF DIRECTORS

s/ “Robert Coltura”

Robert Coltura, President and Chief Executive Officer

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.