Golden Peak Minerals Closes Financing

GOLDEN PEAK MINERALS INC.

Golden Peak Minerals Closes Financing

Vancouver, BC – December 24, 2015: Golden Peak Minerals Inc. (TSX-V: GP) (the “Company”) is pleased to announce that, further to its news release dated December 14, 2015 the Company has closed a non-brokered private placement financing (the “Private Placement”) for total gross proceeds of $110,000.03.

The Company has allotted and issued 1,571,429 flow-through units (the “FT Units”) at a price of $0.07 per FT Unit. Each FT Unit is comprised of one common share and one-half of one share purchase warrant, with each whole share purchase warrant entitling the holder to purchase one additional non-flow-through common share of the Company for a period of up to one year at a price of $0.12.

In addition, the Company has paid finder’s fees of an aggregate $8,800 and 125,714 finder’s warrants to arm’s length third parties. Each finder’s warrant is exercisable by the holder to acquire one common share of the Company for a period of three years at a price of $0.07.

The Company intends to use the proceeds from the Private Placement to conduct further exploration on its Foubert Lake Property in Quebec and for general working capital. All securities issued under the Private Placement are subject to a four-month and one-day hold period expiring on April 25, 2016.

For more information, please contact Robert Cultura, President, at [email protected].

On Behalf of the Board

Robert Cultura, President Golden Peak Minerals Inc.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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