Golden Dory Closes Private Placement

(via Thenewswire.ca)

Gander, Newfoundland Golden Dory Resources Corp. (the "Company") (TSX-V Symbol: GDR) announces that it has received TSX-Venture approval for its non-brokered private placement previously announced August 15, 2012. The Company has issued 3,418,500 units (the "Units") at a price of $0.05 per unit and 13,020,667 flow-through shares at $0.06 per flow-through share for total proceeds of $952,165.00. Each Unit consists of one common share and one common share purchase warrant, each warrant entitling the holder to purchase an addition common share of the Company at an exercise price of $0.10 for a period of 24 months from closing.

All shares and warrants issued pursuant to this private placement financing are subject to a 4 month hold period with the hold period on 2,818,500 units and 12,366,667 flow-through shares expiring January 1, 2013, on 354,000 flow-through shares expiring January 19, 2013 and on 600,000 Units and 300,000 flow-through shares expiring February 2, 2013.

The proceeds of the private placement will be used for exploration on the Company's properties and for general working capital.

Golden Dory is focused on its Iron Horse iron ore property in Labrador, and various other exploration properties in Nevada, Ontario and Newfoundland and Labrador.

On behalf of the Board of Directors of Golden Dory Resources

Kevin D. Keats, President & CEO

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

For further information, please contact Kevin D. Keats, President and CEO of Golden Dory at (709) 256-4201, or Chris Haldane at CHF Investor Relations at (416) 868-1079.

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