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Tuesday, 05/04/2004 7:41:50 PM

Tuesday, May 04, 2004 7:41:50 PM

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Odyssey Hits High-Grade Gold, Silver & Copper In Turkey

TORONTO, ONTARIO--(CCNMatthews - May 4, 2004) -

Second Karakis Ridge Discovery Hole Intercepts 3.3 Meters Grading 15.62 g/t Gold, 159 g/t Silver and 9.48% Copper

Avrom E. Howard, President and CEO of Odyssey Resources Limited
(ODX:TSXV) reports that Hole ATD-18, drilled into Karakis Ridge
intersected a 3.3 meter (10.8 feet) wide zone grading 15.62 grams
per tonne ("g/t") gold, 159 g/t silver, and 9.48% copper. This
discovery is significant as it is located 110 meters (361 feet)
from the original Karakis discovery hole, ATD-10, that
intersected 20 meters (66 feet) grading 2.2 g/t gold including a
10 meter (33 feet) wide hydrothermal breccia zone averaging close
to 5 g/t gold.

"Hole ATD-18 is an important hole as it confirms the existence of
high-grade gold-silver-copper mineralization in Karakis Ridge,"
said Avrom Howard, President and Chief Executive Officer of
Odyssey Resources Limited. "We can now move forward to drill the
balance of the 1 kilometer long Karakis Ridge target with greater
confidence and accuracy, to delineate gold-silver-copper
mineralization within this structure and those targets that run
parallel to Karakis, over the next few months."

Given the high grades obtained and the low core recovery in this
interval, the laboratory was instructed to re-analyze the
original pulp as well as a second split, prior to this result
being released. Additionally, Odyssey's Turkish exploration team
is sending samples from intervals of veinlet-stockwork
mineralization found immediately above and below the vein zone
for analysis, as well.

The most recent phase of drilling at Karakis consisted of 6 holes
for a total of 1,100 meters (3,609 feet), with original
exploration drilling comprising a previous 3 holes for a total of
276 meters (905.5 feet). Whereas holes drilled at higher
elevations, above roughly 600 meters above sea level ("masl"),
have intersected stratigraphically/lithologically controlled
zones of hydrothermal alteration including residual silica, gold
grades have generally been low, under 0.5 g/t gold. However,
drilling at elevations in the 550 masl range has intersected
structurally controlled zones of more intense hydrothermal
alteration including residual silica and alunite, along with
higher gold grades. These results are consistent with a
structurally controlled high sulfidation epthermal gold setting,
and clearly confirm that the northwest trending Karakis and
Seyliktepe ridges, along with the adjacent Kocahisar zone, remain
highly prospective as the Company's exploration model predicted.

A diamond drill rig is being mobilized back to Altintepe, where a
follow up phase of exploration drilling will focus upon the lower
elevations of Karakis ridge, to delineate the full strike length
of gold mineralization discovered to date. Drilling will
similarly target the lower reaches of Seyliktepe ridge, as well.

The Altintepe property hosts several vein and disseminated
epithermal gold zones across an area of 2 by 4 kilometers in
size, including two with historic resources (please see Odyssey's
news release dated March 10, 2003). Several of these zones remain
open on strike and at depth, and display features diagnostic of
typical volcanic-hosted high and intermediate sulfidation
epithermal gold systems. Please see the Company's website for a
map depicting details of the Altintepe property, at:
http://www.odysseyresources.com/news-maps/2004-05-04.htm

At Altintepe, a quality control program consisting of randomly
inserted duplicate and standard check samples will continue to
ensure accurate and reliable results in this program. Samples are
being analyzed by ISO9002 certified ALS Chemex in Vancouver,
Canada, with sample preparation completed by ALS's laboratory in
Turkey. Odyssey President and CEO, Avrom E. Howard, MSc, FGA,
PGeo is the Company's Qualified Person responsible for the
preparation of this news release and for the supervision of, and
reporting on this project.

The statements made in this Press Release may contain
forward-looking statements that may involve a number of risks and
uncertainties. Actual events or results could differ materially
from the Company's expectations and projections. The TSX Venture
Exchange has neither approved nor disapproved the information
contained in this press release.

-30-

FOR FURTHER INFORMATION PLEASE CONTACT:
Jonathan Buick
Manager, Investor Relations
(416) 362-6955
jbuick@odysseyresources.com
or
John E. Buckle
Vice President for Marketing and Investor Relations
(416) 362-6955
jebuckle@odysseyresources.com



Ed


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