Golden Dawn Confirms Mineralized Zone Extends below #6 and #7 Level, Discovers New Zone below All Known Veins of May-Mac Mine

Vancouver, British Columbia--(Newsfile Corp. - December 17, 2015) - Golden Dawn Minerals Inc., (TSXV: GOM) (FSE: 3G8A) (the "Company" or "Golden Dawn") reports that it has completed drilling for 2015 on the Greenwood Precious Metal Project, 5 km West of the City of Greenwood, in the historic Boundary Mining District, of South Central B.C., 500 km east of Vancouver.

The exploration program is being curtailed for the holiday season but is planned to resume in early 2016 with both surface and underground exploration. A total of 1,041 metres was cored in 9 surface diamond drill holes. All of the holes were drilled in the May Mac mine area to test for extensions of veins. Eight of the nine holes intersected their target zones and one hole intersected 2 zones including the target and a new, deeper zone. The table below summarizes the 2015 drilling details.

To date, analytical results have been received for holes 1 through 5 and part of hole 6. Results are pending for the remainder of hole 6 and for holes 7, 8 & 9. Results were recently obtained for the new zone discovered in the lower part of hole 6.

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Drill hole BF15-06, as previously reported, intersected the main Skomac vein below the #6 and #7 Adits. This hole was extended and intersected a second quartz-veined zone that lies deeper than any previously known mineralized zone in the May Mac mine. From 298.6 to 307.0 metres (8.4 metres length) the hole interested quartz veining with varying amounts galena and sphalerite (lead and zinc sulphide minerals) and coarse-grained pyrite. Significant results for this hole include:

Upper zone (Skomac vein):

144.1-148.5 (4.4 metres core length; true width estimated at 0.9 to 1.5 metres),
195 g/t silver, 1.97 g/t gold, 1.48% lead, 2.85% zinc

Including: 148.1-148.5 (0.4 metres core length; true width estimated at 0.1 to 0.2 metres),
776 g/t silver, 4.17 g/t gold, 0.38% lead, 0.18% zinc

Lower zone (New Discovery):

288.32-290.55 (2.23 metres core length; true width undetermined),
148.8 g/t silver, 0.24 g/t gold, 1.2% copper, 1.9% lead, 1.9% zinc

Including: 289.05-289.70 (0.65 metres core length; true width undetermined),
374 g/t silver, 0.48 g/t gold, 2.9 % copper, 0.6% lead, 1.1% zinc

And:

304.73-305.85 (1.12 metres core length; true width undetermined),
76.3 g/t silver, 1.14 g/t gold, 1.8% lead, 0.9% zinc

(g/t = grams per tonne)

A large interval of elevated gold values is also present in the lower zone of hole 6 with individual assays ranging from the detection limit to 2.49 grams per tonne gold over 0.7 metres. Results include:

298.60 - 318.72 (20.1 metres core length, true width undetermined)
0.31g/t gold over 20.1 metres

Note: the true width of zones reported above are substantially less than core lengths because Hole BF15-06 was drilled at a shallow angle to the Upper Skomac vein, due to limited access in rugged terrain. There is insufficient information at this time to estimate the true width of the lower zone.

The upper mineralized intercept in Hole BF15-06 establishes that silver-gold mineralization similar to that historically mined from the #6 Level of the May Mac Mine (Skomac Vein) extends down approximately 60 meters to and below the #7 Level. This indicates excellent potential for additional mineralization to be outlined in the areas above and below the #7 Level.

The lower intercept in hole BF15-06 is a new discovery that indicates continuation of silver-gold mineralization to greater depth than was previously known. Furthermore, the elevated copper and gold values in the lower intercept compared with upper Skomac intercept might indicate a metal zonation related to a source intrusion at depth, which is another exploration target. Golden Dawn is focused on following all such leads to decipher the controls on the mineralizing system and thereby direct exploration towards more discoveries.

Wolf Wiese , CEO of GOM, states" We have high confidence that our new and valuable insights into the architecture of the mineralization of the May-Mac Mine are encouraging the company to proceed with the continuation of the current surface drilling and the initiation of the underground exploration program in Jan. 2016".

Commencing in late January 2016, the Company plans to resume its surface diamond drill program at the May-Mac Mine and extend the program to drill test the Amigo Mine veins, located 1000 meters south of the May-Mac Mine. The Company is also planning to further test the lower intercept in hole 6 and evaluate the extent and grade of the mineralized zones in the May-Mac Mine from the underground mine by diamond drilling, and by drifting (tunneling) along the zones. This work is aimed at providing a more precise measure of the average grade, width and size of the mineralized zones. This work will also identify one or more locations for bulk sampling to be conducted. The underground exploration program is planned to start in early February of 2016.

Samples reported above were collected under the supervision of Dr. Mathew Ball, P.Geo. and delivered to Met-Solve Analytical Services in Langley, B.C. Met-Solve, an independent commercial laboratory, 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 above the upper limit for silver (above 200 g/t) were re-analyzed for ore grade concentrations by aqua regia digestion and AAS or ICP-AES finish. Quality control was monitored using certified reference and blank samples inserted into the sample sequence at intervals.

Technical disclosure in this news release has been reviewed and approved by Dr. Mathew Ball, P.Geo., 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

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