GGD Resources Inc.: Press Release

TORONTO, ONTARIO, Oct 23 (MARKET WIRE) --
GGD Resources Inc. announces that it has completed the sale of 1,290,323
common shares at $0.093 per share for gross proceeds of $120,000 pursuant
to a non-brokered private placement. All of the shares respecting the
private placement were sold to a private company, Harrogate Carrick
Limited ("Harrogate"). A director of GGD, Dennis H. Peterson, is the sole
director, officer and controlling shareholder of Harrogate.

GGD does not currently have an undertaking. As earlier announced, GGD has
commenced a process to identify new business opportunities. Success in
identifying a suitable new business for GGD cannot be assured, and there
are no opportunities which have been identified at the present time.
Further announcements will be made on the status of this process.

Harrogate had advanced $120,000 to GGD on an unsecured and interest-free
basis payable on demand (the "Advance"). The proceeds of the loan will be
applied to repayment of the Advance, general corporate purposes and the
costs of identifying a new business.

For the purposes of National Instrument 62-103 early warning reporting,
the address of Harrogate is 32 Roxborough Street East, Toronto, Ontario
M4W 1V6. Harrogate did not exercise control or direction over any shares
of GGD prior to the transaction announced herein. After the private
placement, GGD has 2,822,888 common shares issued and outstanding. The
GGD common shares do not trade on any stock exchange or market quotation
system. As a result of the private placement announced herein, Harrogate
owns 1,290,323 shares representing approximately 45.71% of the 2,822,888
issued and outstanding common shares. There are no shares or other
securities of GGD subject to issuance. Harrogate has acquired the common
shares of GGD for investment purposes, and has no current intention to
increase the beneficial ownership, control or direction of GGD.

WARNING: No stock exchange, securities commission or other regulatory
authority has approved or disapproved the information contained herein.

Contacts:
GGD Resources Inc.
Dennis H. Peterson
President
(416) 777-6772
(416) 352-5693 (FAX)
Email: dhp@petelaw.com

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