Golden Cycle Gold Corporation Reports Annual Meeting Results and a Stock Split COLORADO SPRINGS, Colo., June 15 /PRNewswire-FirstCall/ -- At the Annual Meeting of the shareholders of Golden Cycle Gold Corporation (PCX:GCC)(OTC:GCGC) held in Colorado Springs, Colorado, on June 4, 2004, shareholders approved all resolutions proposed by management, including approval of an increase in authorized shares of the Company's common stock to 100,000,000 shares and ratification of the appointment of Ehrhardt Keefe Steiner & Hottman, P.C., as independent auditors to audit the books and records of the Corporation at the close of the current year. Incumbent directors R. Herbert Hampton, James C. Ruder and Robert T. Thul were re-elected at the meeting and Dr. Taki N. Anagnoston and Donald L. Gustafson were elected as new directors. A total of 1,434,914 common shares, 74.9% of all issued and outstanding shares, were represented at the meeting. "We are very pleased to welcome Don Gustafson and Dr. Taki Anagnoston to our Board," said R. Herbert Hampton, president and Chief executive officer of the company. "Mr. Gustafson is an exploration geologist with 39 years of experience and past Vice President Exploration of Homestake International Minerals, 1985-1990. Dr. Anagnoston is an experienced investor who brings the perspective of a major shareholder to the board." At the Board of Directors' meeting June 4, 2004, immediately following the Annual Meeting, the Board of Directors re-affirmed its decision of January 15, 2004 to split the Company's Common Stock five for one, and established July 12, 2004 as the Record Date for the stock split. Golden Cycle Gold Corporation is listed on the Pacific Exchange, trading under the symbol "GCC" and also trades in the over the counter market under the symbol "GCGC" (1,920,950 shares outstanding). This letter includes forward-looking statements involving risk and uncertainties that could cause actual results to vary materially from projected results. These include but are not limited to changing commodity prices; differences in ore grades and tons mined from those anticipated; successful mining and milling at currently planned rates; changes in project parameters as plans continue to be refined; continued compliance with environmental permits; the results of current exploration activities and new exploration opportunities; the conclusion of feasibility studies currently under way; and the political and economic risks associated with foreign operations. Please refer to a discussion of these and other factors in the company's 10-K, 10-Q and other Securities and Exchange Commission filings which will be provided to you upon request. DATASOURCE: Golden Cycle Gold Corporation CONTACT: R. Herbert Hampton, President & CEO of Golden Cycle Gold Corporation, +1-719-471-9013

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