Golden Dawn Minerals Assays Rock Channel Samples at 529 g/t Ag Over 0.4 m and 36 g/t Au Over 0.2 m at Greenwood Precious Metal Project

Vancouver, British Columbia--(Newsfile Corp. - October 21, 2015) - Wolf Wiese, CEO of Golden Dawn Minerals Inc., (TSXV: GOM) (FSE: 3G8A) (the "Company" or "Golden Dawn") announces the following assay results for rock samples collected on the Greenwood Precious Metal Project, located 5 km West of the City of Greenwood in South Central B.C. in the historic Boundary mining district, 500 km East of Vancouver on BC Highway #3.

View map at: http://www.goldendawnminerals.com/wp-content/uploads/2015/10/Amigo-claim.jpg

Rock channel sampling was conducted inside 4 of 10 historic mine adits on the property. Significant assay results for gold and silver were received for 20 out of a total of 56 samples as presented in the table below, showing assay results and true widths.

*Result announced in previous news release.

In the 6th level of the May Mac Mine, samples were collected from an area that was mined historically. Samples from this area have high values for silver and gold as shown in the table above, and also contain high values of base metals, with between 1.5 and 5.2% lead and between 0.5 and 1.4% zinc over widths from 0.35 to 0.70 metres. The mineralized zones on the 6^th level are open to depth and can be explored from the underground adits and by surface drilling that is currently commencing.

The sample listed above from the 7th level of the May Mac Mine is from a secondary vein. In addition to the high silver value listed in the table, this sample also assayed 11% lead and 3.6% zinc. This is the first time precious metal mineralization has been identified on the 7^th level, and the result supports the concept that the mineralized zones mined in the upper workings extend to depth below the 6^th level.

In the Lower No. 2 Adit, of the May-Mac Mine, a series of samples were collected over a strike length of 34 metres. In addition to the results listed above, the host rock is also locally mineralized adjacent to the vein, with two of eleven samples assaying 2.03 and 5.21 grams per tonne gold over 0.35 and 0.20 metres.

Historic underground mine working on the Amigo No. 1 Vein consist of a cross cut (54 metres) and a drift along the vein for 35 metres along strike. The channel samples listed above were collected in the drift. The Amigo Glory Hole underground mine workings consist of a cross cut (16 metres) and drift along the mineralized zone for 13 metres. The channel samples listed above were collected in the drift.

The results collectively are encouraging and emphatically support the Company's drilling campaign that is commencing this week. The Company is postulating that the mineralization mined and tested on the May - Mac and Amigo adits and veins is related to the cluster of epithermal and skarn-type, precious metal deposits mined by Kinross Gold in the northern Washington State, Republic District, 20-30 km south of the Greenwood Precious Metal Project.

The current surface diamond drill program will entail 1500 to 1750 meters of diamond drilling and is expected to be completed by the end of November, 2015. Upon completion of this program, the company will commence underground drilling of the various adits on the Greenwood Precious Metal Project. The underground work is planned to commence in January, 2016. Upon delineation of mineralized zones at or below the current mine workings, the company will drift into the mineralized material to begin trial mining.

The samples reported above were collected under the direct supervision of Dr. Mathew Ball, P.Geo., and the samples were delivered to Met-Solve Analytical Services in Langley, B.C. by Dr. Ball. Met-Solve is an independent commercial laboratory that is ISO 9001 certified and operates according to ISO 17025 standards. Analyses for gold were by Fire assay method using 50 gram samples using an ICP-AES finish. Silver and other elements were analyzed by ICP-AES using a four acid digestion. Results that were above the detection limit were re-analyzed for ore grade concentrations by ICP-AES (silver) and Sodium Peroxide Fusion - ICP AES (lead). Quality control was monitored using certified reference samples inserted into the sample sequence at intervals.

The technical disclosure in this news release has been reviewed and approved by Dr. Mathew Ball, P.Geo., who is a Qualified Person as defined by National Instrument 43-101.

For more details, please see the NI 43-101 Technical Report on the Company's website at www.goldendawnminerals.com.

On behalf of the Board of Directors:
GOLDEN DAWN MINERALS INC.

"Wolf Wiese"
Wolf Wiese
Chief Executive Officer

For further information, please contact:
Corporate Communications
604-221-8936
allinfo@goldendawnminerals.com

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.