Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

     Date of Report (Date of Earliest Event Reported): May 22, 2003

                          Golden Cycle Gold Corporation
             (Exact name of Registrant as specified in its charter)

   Colorado                        0-11226                       84-0630963
---------------            ------------------------          -------------------
(State or other            (Commission File Number)          (I.R.S. Employer
jurisdiction of                                              Identification No.)

1515 South Tejon, Suite 201, Colorado Springs, CO                  80906
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    (Address of principal executive offices)                     (Zip Code)

Registrant's telephone number, including area code: 719-471-9013

Item 5.  Other Events and Regulation FD Disclosure.

Golden Cycle Gold Corporation inadvertently published a typographical error in
the Notes to its Consolidated Financial Statements in its 2002 Annual Report to

Note (1), Summary of Significant Accounting Policies, paragraph (c), Short-Term
Investments, states incorrectly: "Short-term investments also includes 310,000
troy ounces of gold bullion purchased by the Company in 2002."

The amount of troy ounces of gold bullion is misstated. The sentence should
read: "Short-term investments also includes 310 troy ounces of gold bullion
purchased by the Company in 2002."

The Notes to the Consolidated Financial Statements reported in the Corporation's
Annual Report on Form 10-K for the year ended December 31, 2002 are correct.



Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                      GOLDEN CYCLE GOLD CORPORATION

Date:  May 28, 2003                   By: /s/ R. Herbert Hampton
                                          R. Herbert Hampton