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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 GyfE8nmUi+z//6WkPQ1SdB00yVFDovqQ+8eEQIfz4WZf9utXg8qoWo2tSy9fFTiM
 DAJJH6RrIMgrItaOk/0ziA==

<SEC-DOCUMENT>0001018500-04-000018.txt : 20040608
<SEC-HEADER>0001018500-04-000018.hdr.sgml : 20040608
<ACCEPTANCE-DATETIME>20040608172641
ACCESSION NUMBER:		0001018500-04-000018
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040505
FILED AS OF DATE:		20040608

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GOLDEN CYCLE GOLD CORP
		CENTRAL INDEX KEY:			0000719754
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				840630963
		STATE OF INCORPORATION:			CO
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1515 SOUTH TEJON STREET
		STREET 2:		SUITE #201
		CITY:			COLORADO SPRINGS
		STATE:			CO
		ZIP:			80906
		BUSINESS PHONE:		7194719013

	MAIL ADDRESS:	
		STREET 1:		1515 SOUTH TEJON STREET
		STREET 2:		SUITE #201
		CITY:			COLORADO SPRINGS
		STATE:			CO
		ZIP:			80906

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WINMILL THOMAS BASSETT
		CENTRAL INDEX KEY:			0001018500

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09385
		FILM NUMBER:		04854463

	BUSINESS ADDRESS:	
		STREET 1:		11 HANOVER SQUARE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10005
		BUSINESS PHONE:		2127850900

	MAIL ADDRESS:	
		STREET 1:		11 HANOVER SQ
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10005
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>tbwform3-gcc_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2004-05-05</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000719754</issuerCik>
        <issuerName>GOLDEN CYCLE GOLD CORP</issuerName>
        <issuerTradingSymbol>GCGC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001018500</rptOwnerCik>
            <rptOwnerName>WINMILL THOMAS BASSETT</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>11 HANOVER SQUARE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10005</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>13.00</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2004-06-05</value>
            </exerciseDate>
            <expirationDate>
                <value>2014-06-05</value>
                <footnoteId id="F1"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5000</value>
                    <footnoteId id="F2"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The stock option is exercisable during the period commencing on June 5, 2004 (the &quot;Date of Grant&quot;) and ending on the earliest
of (i) the date on which Mr. Winmill's service as an officer or director is terminated for cause, (ii) one year after Mr.
Winmill voluntarily ceases to be an officer or director of Golden Cycle Gold Corporation (the &quot;Corporation&quot;), (iii) one year
after the date on which Mr. Winmill ceases to be an officer or director of the Corporation for any other reason, or (iv) the
tenth anniversary of the Date of Grant.</footnote>
        <footnote id="F2">Thomas B. Winmill is an officer and director of Midas Fund, Inc. (the &quot;Fund&quot;) and Midas Management Corporation (&quot;MMC&quot;), the
investment manager of the Fund. The Fund is the beneficial owner of more than 10% of the Issuer's outstanding shares, as set
forth in the Fund's SC 13G filings. Mr. Winmill disclaims beneficial ownerhsip of all Issuer shares owned by the Fund.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Thomas B. Winmill</signatureName>
        <signatureDate>2004-06-08</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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