DRILL PROGRAM TO COMMENCE ON McCUAIG RED LAKE PROPERTY

January 26, 2004

Montreal, Quebec -Golden Tag Resources Ltd. (TSX-V:GOG) is pleased to announce that diamond drilling is due to commence on or around February 1, 2004 on the McCuaig JV property in Red Lake, Ontario. The McCuaig JV property is strategically located on the Red Lake Mine Trend which is host >25 million ounces past gold production and current gold reserves. A 2,000 meter, 10 drill hole program estimated to cost $300,000 has been approved by the McCuaig Joint Venture (40% Golden Tag , 60% Rubicon Minerals Corporation) to test for the continuation of high-grade intercepts in the 1900 Gold Zone originally discovered in March 2002 and also other targets on the McCuaig JV property.

 

Past drill results on the 1900 Gold Zone include 2.21 oz/ton gold over 2.30 feet (75.91 g/t over 0.70 meters) in hole MC-02-32, part of an interval grading 0.67 oz/ton gold over 10.17 feet (22.83 g/t over 3.10 meters). Hole MC-02-27 returned 0.74 oz/ton gold over 5.58 feet (25.48 g/t over 1.07 meters) plus a separate interval of 0.53 oz/ton gold over 1.48 feet (18.08 g/t over 0.45 meters). Initially, seven of the planned ten hole program are designed to test for a southeast extension to the 1900 Gold Zone. The remaining holes are designed to intersect new targets outside of the 1900 Zone.

 

Golden Tag Resources Ltd. is a Montreal, Quebec based Canadian Mineral Exploration Company trading on the TSX Venture Exchange on a continuous basis since 1982. There are presently 12.6 million shares issued and outstanding.

 

 

 

 

For additional information, please contact:

 

Golden Tag Resources Ltd.

Marc A. Carrier, President & CFO

Ph: (514) 426-8542

Fax: (514) 426-8543

Email: pres@goldentag.ca

Web: www.goldentag.ca

 

Cautionary Statement: Statements in the release that are "forward looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially. For a discussion of the risk factors that are inherent in the Mining Industry see our public filings at www.sedar.com.

 

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 news release.

 

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