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Monday, 12/29/2003 12:34:49 PM

Monday, December 29, 2003 12:34:49 PM

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DECEMBER 29, 2003 - 10:14 ET

Odyssey Resources Limited: Drilling Resumes At Altintepe
Gold Property

TORONTO, ONTARIO--Avrom E. Howard, President and CEO of Odyssey
Resources Limited (ODX:TSXV), reports that diamond drilling has
resumed at the Altintepe Gold Property in northeastern Turkey.
Recent drilling in the area of Karakis ridge, intersected a new
gold zone with hole ATD-10 having intersected gold values
averaging 2.2 g/t gold (0.07 oz/t) over a 20 meter (65.5 feet)
interval, between 35-55 meters. Within this interval a 5 meter
(16.5 feet) zone of breccia (42.5-47.5 meters), averaged 4.94 g/t
(0.16 oz/t); the entire interval is oxidized. Drill road
development near ADT-10 has recently exposed at least two breccia
zones several meters thick each, within a wider, steeply dipping
zone consisting of massive or brecciated iron oxide-rich silica
and intensely clay-altered,silicified volcanic rocks. The entire
package is at least 30 meters wide at this location.

Hole ATD-10 penetrated vertically through this steeply dipping
gold zone from the middle through the footwall; hole ATD-11,
located 100 meters to the northwest, penetrated the lower portion
of this zone. At the northwest end of Karakis ridge, located 1
kilometer away from ATD-10, a similar zone of silicification and
vuggy silica is partly exposed in a roadside outcrop. A rock
sample taken at this location assayed 1.04 g/t gold. The current
phase of drilling will test the newly discovered Karakis ridge
gold zone along its one kilometer strike length.

Seyliktepe ridge, to the immediate northeast of Karakis, has
every appearance of hosting a parallel gold zone. Similar to
Karakis but longer, it forms a prominent whaleback ridge with a
number of steep silicified knobs exposed along its length. Rock
samples taken toward its northwestern end returned gold values
from 1.04 to 6.9 g/t gold. This current phase of drilling will
also test Seyliktepe; a nuimber of additional untested targets in
this western part of the property will be tested, as well.

Odyssey management is very pleased with progress to date, and
looks forward to reporting drill results as the program proceeds.


John Buckle
Vice President for Marketing and Investor Relations
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of
this news release.


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