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Last updated on April 18, 2014 at 7:29 EDT

Golden Dawn discovers a new high grade silver zone ranging from 255 g/t silver to 673 g/t silver within a 12 meter high grade intersection of 167 g/t silver on its Greenwood Gold Project, British Columbia, Canada

November 21, 2011

TSX-V:  GOM
FRANKFURT EXCHANGE: 3G8

VANCOUVER, Nov. 21, 2011 /PRNewswire/ – Golden Dawn Minerals Inc. (TSXV: GOM) (FRANKFURT: 3G8) (the “Company” or “Golden Dawn”) is pleased to announce the discovery of a new high grade polymetallic
silver zone located to the north of the expanding Deadwood gold-copper
deposit, Greenwood Mining District, British Columbia, Canada. Three
high grade samples ranging from 255 grams per tonne (g/t) silver (Ag)
over 1.5 meters (m) core length up to 672.9 g/t Ag over 1.5 m core
length were obtained from the zone.  The silver zone occurs about 300 m
north of the main Deadwood Gold Zone. This new zone of silver
mineralization is open in all directions.

DEADWOOD SILVER ZONE – NEW DISCOVERY

The new zone of silver mineralization was intersected on the Wild Rose
property in hole 11WR19 from 138.5 m to 170.0 m core length, which
graded 72.6 g/t Ag over 31.5 m core length with a high grade zone of
the 166.5 g/t Ag over 12.0 m core length (Table 1).  The zone also
yields highly anomalous concentrations of lead, zinc, cadmium, arsenic
and tungsten.  Located at the contact between basalt and mudstone it is
characterized by silicification along with a stock-work of thin to very
thin (<1 cm to mm size) quartz-carbonate veins with fine grained galena
and sphalerite.

EXPANSION OF DEADWOOD GOLD ZONE

In addition to being the discovery hole for the new silver
mineralization, hole 11WR19 was primarily designed to test for
expansion northward of the Deadwood low grade bulk tonnage deposit on
the Wild Rose – Tam O’Shanter Property.  The drillhole succeeded in its
initial objective intersecting further gold mineralization and thus
extending the Deadwood Gold Zone.

Drillhole 11WR19 stepped out a substantial 450 m northeast of the main
Lode 1 portion of the Deadwood Gold Zone, intersecting Lodes 3 and 4 at
190 and 220 m below surface with grades of 0.47 g/t gold (Au) over 9.0
m core length and 0.44 g/t Au over 27.0 m core length, respectively,
including a higher grade zone of 0.68 g/t Au over 15.0 m core length
(Table 1). These intersections represent extensions to Lodes 3 and 4 of
the Deadwood Gold Zone outside of the current defined resource area and
will most probably provide a further expansion of the Deadwood low
grade bulk tonnage deposit.

Further assay results have also been received for drillhole 11WR17.  A
screen fire assay analysis was conducted on a 1.5 m sample from the
Deadwood 4 Lode within the Deadwood Gold Zone that yielded a calculated
average of four fire assay analyses of 24.37 g/t Au.  The screen fire
assay, which utilized 500 grams of sample material, returned a grade of
43.64 g/t Au and seems to indicate the presence of coarse gold, even
though no gold was visible in the drill core. This increases the grade
of the uncut value for Deadwood 4 lode intersection from 1.48 g/t Au to
2.00 g/t Au over 35 m core length (Table 1).

DEADWOOD SILVER ZONE AND DEADWOOD GOLD ZONE TABULATION

The new silver zone, denoted the Deadwood Silver Zone, is detailed in
the following tabulation.  Previously reported intersections for recent
holes within the Deadwood Gold Zone are outlined for ease of reference
and correlation.

TABLE 1. Summary assay results for drill holes 11WR13 to 10WR19 and
11WR24.

     ____________________________________________________________________________
    |Drillhole|    Zone  | From |  To  | Interval |   Au   |  Ag  |  Cu|  Pb|  Zn|
    |         |          | (m)  | (m)  |(m)***| (g/t)  |(g/t) |%   |%   |%   |
    |_________|__________|______|______|__________|________|______|____|____|____|
    |         | Deadwood |138.5 |170.0 |    31.5  |   0.05 | 72.6 |0.02|0.05|0.18|
    |         |  Silver  |      |      |          |        |      |    |    |    |
    |         |__________|______|______|__________|________|______|____|____|____|
    |         | includes |138.5 |150.5 |    12.0  |   0.02 |166.5 |0.02|0.05|0.18|
    |         |__________|______|______|__________|________|______|____|____|____|
    |         |Deadwood 3|225.5 |293.0 |    67.5  |   0.27 |   -  |0.01|0.01|0.03|
    |  11WR19 |   & 4    |      |      |          |        |      |    |    |    |
    |         |__________|______|______|__________|________|______|____|____|____|
    |         |Deadwood3 |225.5 |234.5 |     9.0  |   0.47 |   -  |0.02|  - |  - |
    |         |__________|______|______|__________|________|______|____|____|____|
    |         |Deadwood4 |266.0 |293.0 |    27.0  |   0.44 |   -  |0.01|0.02|0.07|
    |         |__________|______|______|__________|________|______|____|____|____|
    |         | includes |267.5 |282.5 |    15.0  |   0.68 |   -  |0.02|0.03|0.10|
    |_________|__________|______|______|__________|________|______|____|____|____|
    |         |Deadwood1 |259.7 |316.2 |    56.5  |   0.32 |   -  |0.03|  - |  - |
    |         |__________|______|______|__________|________|______|____|____|____|
    |         | includes |263.5 |303.5 |    40.5  |   0.38 |   -  |0.02|  - |  - |
    |         |__________|______|______|__________|________|______|____|____|____|
    |         |Deadwood2 |131.5 |233.57|   92.07  |   0.10 |   -  |0.01|  - |  - |
    | 11WR13* |__________|______|______|__________|________|______|____|____|____|
    |         | includes |141.5 |170.0 |    46.5  |   0.15 |   -  |0.01|  - |  - |
    |         |__________|______|______|__________|________|______|____|____|____|
    |         |Deadwood4 | 36.5 | 44.0 |     7.5  |   1.40 |   -  |  - |  - |  - |
    |         |__________|______|______|__________|________|______|____|____|____|
    |         | includes | 42.5 | 44.0 |     1.5  |   6.47 |   -  |  - |  - |  - |
    |_________|__________|______|______|__________|________|______|____|____|____|
    |         | Deadwood | 84.5 |344.0 |     157  |   0.21 |   -  |0.02|  - |  - |
    |         |__________|______|______|__________|________|______|____|____|____|
    |         |Deadwood1 |270.5 |296.0 |    25.5  |   0.15 |   -  |0.03|  - |  - |
    | 11WR14* |__________|______|______|__________|________|______|____|____|____|
    |         |Deadwood2 |195.5 |211.6 |    18.0  |   0.12 |   -  |0.01|  - |  - |
    |         |__________|______|______|__________|________|______|____|____|____|
    |         |Deadwood4 | 84.5 | 98.0 |    13.5  |   0.11 |   -  |0.02|  - |  - |
    |_________|__________|______|______|__________|________|______|____|____|____|
    |         | Deadwood |244.0 |401.0 |   162.33 |   0.19 |   -  |0.02|  - |  - |
    |         |__________|______|______|__________|________|______|____|____|____|
    |         |Deadwood1 |356.0 |401.0 |    45.0  |   0.44 |   -  |0.04|  - |  - |
    |         |__________|______|______|__________|________|______|____|____|____|
    |         | includes |356.0 |383.2 |    27.2  |   0.62 |   -  |0.03|  - |  - |
    |         |__________|______|______|__________|________|______|____|____|____|
    | 11WR15* |Deadwood2 |244.0 |269.0 |    25.0  |   0.21 |   -  |0.03|  - |  - |
    |         |__________|______|______|__________|________|______|____|____|____|
    |         | Includes |  257 |  263 |     6.0  |   0.62 |   -  |0.04|  - |  - |
    |         |__________|______|______|__________|________|______|____|____|____|
    |         |Deadwood4 | 15.3 | 23.0 |     7.7  |   1.51 |   -  |0.03|  - |  - |
    |         |__________|______|______|__________|________|______|____|____|____|
    |         | includes | 15.3 | 17.0 |     1.7  |   6.62 |  1.5 |0.07|  - |  - |
    |_________|__________|______|______|__________|________|______|____|____|____|
    |         | Deadwood |132.5 |252.5 |   120.0  |   0.29 | 2.95 |0.02|0.06|0.20|
    |         |__________|______|______|__________|________|______|____|____|____|
    |         |Deadwood1 |193.0 |252.5 |    59.5  |   0.25 | 2.75 |0.02|0.03|0.10|
    |         |    1     |      |      |          |        |      |    |    |    |
    |         |__________|______|______|__________|________|______|____|____|____|
    |         | includes |225.5 |252.5 |    27.0  |   0.30 | 3.38 |0.04|0.04|0.14|
    |         |__________|______|______|__________|________|______|____|____|____|
    | 11WR16* | includes |246.5 |252.5 |     6.0  |   0.62 | 4.55 |0.01|0.11|0.33|
    |         |__________|______|______|__________|________|______|____|____|____|
    |         |Deadwood2 |152.0 |182.0 |    30.0  |   0.57 | 3.74 |0.02|0.09|0.31|
    |         |__________|______|______|__________|________|______|____|____|____|
    |         | includes |152.0 |170.0 |    18.0  |   0.72 | 4.54 |0.03|0.11|0.39|
    |         |__________|______|______|__________|________|______|____|____|____|
    |         |Deadwood4 | 32.0 | 83.0 |    51.0  |   0.10 |   -  |0.02|  - |  - |
    |         |__________|______|______|__________|________|______|____|____|____|
    |         | includes | 32.0 | 42.5 |    10.5  |   0.20 |   -  |0.01|  - |  - |
    |_________|__________|______|______|__________|________|______|____|____|____|
    |         | Deadwood |  3.0 |219.5 |   216.5  |   0.11 | 0.98 |0.01|0.01|0.03|
    |         |__________|______|______|__________|________|______|____|____|____|
    |         |(uncut)** |      |      |   216.5  |(0.38)**| 0.98 |0.01|0.01|0.03|
    |         |__________|______|______|__________|________|______|____|____|____|
    |         |Deadwood1 |179.0 |219.5 |    40.5  |   0.17 | 1.51 |0.02|0.01|0.03|
    | 11WR17* |__________|______|______|__________|________|______|____|____|____|
    |         |Deadwood4 |  3.0 | 38.0 |    35.0  |   0.30 | 1.48 |0.01|0.03|0.10|
    |         |__________|______|______|__________|________|______|____|____|____|
    |         |(uncut)** |      |      |    35.0  |(2.00)**| 1.48 |0.01|0.03|0.10|
    |         |__________|______|______|__________|________|______|____|____|____|
    |         | Includes | 36.5 | 38.0 |     1.5  |  43.64 |  3.1 |  - |0.02|0.08|
    |_________|__________|______|______|__________|________|______|____|____|____|
    |         |Deadwood1 |110.15|175.65|    65.5  |   0.20 |   -  |0.02|  - |  - |
    |         |__________|______|______|__________|________|______|____|____|____|
    |         | includes |149.0 |165.5 |    16.5  |   0.35 |   -  |0.02|  - |  - |
    |         |__________|______|______|__________|________|______|____|____|____|
    |         | includes |161.0 |1165.5|     4.5  |   0.90 |   -  |0.03|  - |  - |
    | 11WR18* |__________|______|______|__________|________|______|____|____|____|
    |         |Deadwood2 | 14.0 | 84.5 |    70.5  |   0.28 | 1.53 |0.01|0.05|0.14|
    |         |__________|______|______|__________|________|______|____|____|____|
    |         | includes | 15.5 | 39.5 |    24.0  |   0.66 | 1.84 |0.02|0.05|0.15|
    |         |__________|______|______|__________|________|______|____|____|____|
    |         | includes | 14.0 | 26.0 |    12.0  |   1.01 | 1.33 |0.01|0.01|0.05|
    |_________|__________|______|______|__________|________|______|____|____|____|
    |         | Deadwood |137.25|378.5 |   241.25 |   0.18 |   -  |0.04|  - |  - |
    |         |__________|______|______|__________|________|______|____|____|____|
    |         |Deadwood1 |325.0 |372.5 |    47.5  |   0.51 |   -  |0.09|  - |  - |
    | 11WR24* |__________|______|______|__________|________|______|____|____|____|
    |         |Deadwood2 |246.5 |277.39|   30.89  |   0.16 |   -  |0.05|  - |  - |
    |         |__________|______|______|__________|________|______|____|____|____|
    |         |Deadwood3 |213.5 |215.0 |    16.5  |   0.26 |   -  |0.03|  - |  - |
    |_________|__________|______|______|__________|________|______|____|____|____|

*Previously released results in Golden Dawn News Release dated November
17, 2011.
**Based upon the 2011 statistical analysis, a 5 g/t upper cut has been
applied to individual high grade assays.
***The Deadwood Gold Zone dips approximately 70 degrees northeast. True
width ranges from about 65% to 85% and averages about 75% of core
length.

GEOLOGICAL INTERPRETATION – DEADWOOD GOLD ZONE

Current drilling, together with historic drilling results, has now
confirmed the presence of a significant widespread alteration zone (the
Deadwood Gold Zone) comprising low-grade gold-copper (Au-Cu)
mineralization along a strike length of approximately 1,000 m.
Drillholes 11WR24 and 11WR18 have extended the zone along strike to the
northwest and southeast and have demonstrated that the zone is open
along strike. The Deadwood Gold Zone has an apparent horizontal width
of 250 m to 300 m and includes at least 4 separate lodes and has been
tested to a vertical depth of approximately 250 m below surface. The
Deadwood Gold Zone remains open in all directions.

On July 13(th), 2011, the Company announced a National Instrument 43-101 maiden
Inferred Mineral Resource*** for the Deadwood Gold Zone of 19.4 million
tonnes at an average grade of 0.45 g/t Au, yielding a total of 279,300
troy ounces of Au utilizing a 0.3 g/t lower cutoff grade. Based upon
the results of the first portion of the phase 2 drilling, the Company
anticipates that the existing Inferred Resource will most probably be
significantly expanded. The target zone has now expanded sufficiently
in scale and may be compared, on a conceptual basis, to other similar
low grade bulk tonnage deposits such as the Fort Knox (Kinross) and
Livengood (International Tower Hill) deposits in Alaska.

***Inferred Mineral Resources are not Mineral Reserves. Inferred Mineral
Resources do not have demonstrated economic viability, and may never be
converted into Reserves.

Drilling during 2010 – 2011 indicates that the Deadwood Gold Zone is
hosted in a remarkably consistent upper stratigraphic package with
quartz-veined, brecciated and hornfelsed Paleozoic sediments and
predominantly mafic volcanic rocks with minor dioritic intrusions
overlying a lower package of thinly bedded siltstones, sandstones and
minor conglomerates. Gold mineralization occurs in all lithologies and
appears to be contact or structure controlled. The upper portion of the
stratigraphy exhibits moderate to intense silicification and consistent
disseminated sulphide mineralization, which is associated with either
biotite or sericite (potassic) alteration that, in turn, yields
remarkably consistent low-grade gold mineralization. Several of the
holes display alteration that crosses over into the lower sedimentary
package and is associated with gold mineralization that is part of the
Deadwood Gold Zone.

As indicated in the previous press releases, the Au-Cu mineralization at
the Deadwood Gold Zone is usually associated with anomalous but fairly
low concentrations of arsenic, antimony and other epithermal-type
indicator elements. The lack of a consistent epithermal geochemical
signature and the presence of a consistent Au-Cu relationship are
strongly suggestive of a classic porphyry Au-Cu model for this
mineralization. The relatively minor amount of intrusive rocks
intersected by the drilling thus far, and the apparent relation between
mineralization and stratigraphy, are indicative of a distal zonation.

Drillholes 11WR16 to 11WR18 were all drilled to extend the Deadwood low
grade bulk tonnage mineralization to the southeast towards the Wild
Rose vein area.  All three holes successfully intersected Deadwood
style gold mineralization, thus extending the known low grade bulk
tonnage mineralization more than 200 m to the southeast of the main
zone. In addition, a number of the Deadwood lodes in these three holes
displayed highly anomalous concentrations of silver, zinc and lead
together with anomalous arsenic, cadmium, tungsten and occasionally
anomalous antimony and thallium. This may suggest a more proximal
source for the alteration and mineralization toward the southeast.

CONTINUING DRILLING 2011

Further drilling of an additional 10 holes, designed to extend the
Deadwood Gold Zone toward the northwest, is planned for the adjoining
Tam O’Shanter segment of the property. This will commence as soon as
the appropriate land use permits are received. A revised resource
statement will be completed when the 2(nd) portion of the Phase 2 Deadwood Gold Zone drilling is completed and all
results are received.  Assay results for holes 11WR20 to 11WR23 are
pending; these holes were drilled approximately 1,000 m to the north of
the Deadwood Gold Zone.

Split drill core samples were shipped from the site by courier for
sample preparation and analysis by Inspectorate Exploration and Mining
Services Inc., of Richmond, BC, an ISO 9001:2008 certified laboratory.
Assay procedures consisted of standard one assay ton fire assay for
gold, with atomic adsorption (AA) finish. Other elements were analyzed
by 30 element ICP spectrophotometry following aqua regia digestion.
Assay blanks, standards and duplicate checks were performed as part of
the quality assurance program.

The information in this release have been reviewed and verified by Mike
Dufresne, M.Sc., P.Geol. of APEX Geoscience Ltd., a Qualified Person.
The program is being supervised by Mr. Dufresne.

On behalf of the Board of Directors:

GOLDEN DAWN MINERALS INC.

“Wolf Wiese”

Wolf Wiese
Chief Executive Officer

THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL
RESPONSIBILITY FOR ITS CONTENTS. NEITHER TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES
OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE. THIS DOCUMENT CONTAINS CERTAIN FORWARD
LOOKING STATEMENTS WHICH INVOLVE KNOWN AND UNKNOWN RISKS, DELAYS, AND
UNCERTAINTIES NOT UNDER THE COMPANY’S CONTROL WHICH MAY CAUSE ACTUAL
RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY
TO BE MATERIALLY DIFFERENT FROM THE RESULTS, PERFORMANCE, OR
ACHIEVEMENTS IMPLIED BY THESE FORWARD LOOKING STATEMENTS. WE SEEK SAFE
HARBOR.

SOURCE Golden Dawn Minerals Inc.


Source: PR Newswire