Golden Cycle Gold Corporation

– Table Top Gold Prospect
CC&V Gold Mining Company
SAR Philippine Prospect
Illipah Gold Prospect
Colorado Exploration
Colorado Exploration

The Company’s exploration effort in its home state of Colorado was on hold during 2006 while we focused on our exploration priority: the Illipah exploration project. The Company has developed a geologic concept indicating the possibility of an exploration target which meets the Company’s criterion in southwest Colorado. During 2007, the Company plans to complete a regional study of the target area, including satellite imagery which it began in 2004, with the objective of narrowing the target area. The Company is also continuing its selective search in western Colorado for additional mineral prospects to undertake during 2007 and beyond.