May 31, 2004 – Golden Arch Resources Ltd. (the “Company”) is pleased to announce the arrival of the completion rig on the Young#2-66 well in Hemphill County, Texas. The rig will be attempting to perforate and fracture two eight-foot sections of the Morrow sand lobes between 12,952 - 12,960 feet 13,055 -13,063 feet. Completion of the fractures and tests to evaluate the gas quantities are expected to be completed by the second week of June, 2004. The test analysis will enable the Company to either proceed with the Morrow sands or move the process up the wellbore to access gas located in excess of 300 feet of pay in the Granite Wash zone. The Company has a 3% net revenue interest in the well, reducing to 2% after the Company’s initial investment has been recovered.
On behalf of the Board of Directors,
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