GFA Pan American Fertilizer Corporation

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR OTHER DISSEMINATION INTO THE
U.S.A. 


Golden Fame Resources Corp. ("Golden Fame" or the "Company") (TSX VENTURE:GFA)
is pleased to announce a non-brokered private placement of up to 15,625,000
units (the "Units") at a price of $0.32 per Unit to raise total proceeds of up
to $5,000,000 (the "Offering")Each Unit will consist of one common share (a
"Common Share") and one-half of a share purchase warrant (a "Warrant"). Each
whole warrant will entitle the holder to purchase one common share in the
capital of the Company at a price of $0.52 for a period of 24 months from the
closing of the Offering.


In addition to the Offering, management and directors of the Company are
arranging the purchase of a significant block of common shares of the Company
owned by a current insider and which are currently held in escrow. The proposed
share purchase is intended to provide a significant incentive to management and
directors without diluting the existing shareholder base and, more importantly
align the interests of the Company's leadership with its shareholders. Once an
agreement has been finalized a further announcement will be made. Any
arrangement with respect to the transfer within escrow of common shares of the
Company will be subject to the review and approval of the TSXV.


Closing of the Offering is subject to a number of conditions, including receipt
of all necessary corporate and regulatory approvals, including approval of the
TSX Venture Exchange.


About Golden Fame Resources

The focus of Golden Fame is to acquire and put into production historically
productive gold, silver and copper properties that have become potentially
economic due to the robust upward movement in metals prices.


On Behalf of the Board of Directors,

Golden Fame Resources Corp.

Graham Clark, President, CEO & Director

FORWARD LOOKING STATEMENTS: This press release contains forward-looking
statements, specifically the intention to undertake the private placement
described in the news release. The completion of the private placement as
proposed or at all is subject to numerous factors, some of which may be beyond
the Company's control. These factors include but are not limited to general
market and industry conditions and other risks disclosed in the Company's
filings with Canadian Securities Regulators. Forward-looking statements are
based on the expectations and opinions of the Company's management on the date
the statements are made. The assumptions used in the preparation of such
statements, although considered reasonable at the time of preparation, may prove
to be imprecise and, as such, undue reliance should not be placed on
forward-looking statements. The Company expressly disclaims any intention or
obligation to update or revise any forward-looking statements whether as a
result of new information, future events or otherwise.

Grafico Azioni Pan American Fertilizer Corporation (TSXV:GFA)
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