Golden Dawn Minerals Inc.

Published : March 06th, 2015

Company Update

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Keywords :   Debt | Gold | Precious Metals | Silver |

Company Update

VANCOUVER, BC / ACCESSWIRE / March 6, 2015 / Golden Dawn Minerals Inc. (TSX-V: GOM; 3G8A.F) (the "Company" or "Golden Dawn") is pleased to announce that it has sold its 100% interest in the Kirkland Lake Property for $130,000 cash and a 1 % Net Smelter Royalty ("NSR"). The purchasing party has the option to buy out the NSR for $500,000 in cash. Terms of the purchase agreement are $65,000 upon signing the agreement (paid) and the remaining $65,000 to be paid on the first anniversary of the agreement. The Company's management made the decision to sell the property so that the Company can focus on its Greenwood Gold Project in South Central B.C.

Currently the Company is in possession of an underground exploration permit for its 100% owned gold-silver May Mac Mine. The mine has 7 adits and with further exploration and development has the potential to feed its 100% owned Mill situated 100 meters below the #7 adit of the May Mac Mine. The Company's mill will require a retrofit to return to production and reach its maximum capacity of 130 tons per day.

The May Mac Mine is currently not in production. A production decision would be dependent on further underground exploration work that would consist of underground drilling and possibly drifting and test mining. However, the decision to commence production may or may not be based on an NI 43-101 mineral resource estimate or feasibility study, due to the nature of this deposit. Progressing to full feasibility for the narrow, swelling and pinching veins already identified at the May Mac could exceed the cost of the underground drilling, drifting and test mining. Therefore the company may base its decision to advance this project to production without relying on a full economic study.

The Company is currently in negotiation with several parties possessing small high grade precious metal deposits that may be easily amendable to open pit and/or underground extraction. These satellite deposits are in most cases not economically viable as stand-alone targets on their own, however, they are within a 150 km radius of Golden Dawn's processing facility in Greenwood B.C. The Company is also in the process of investigating the potential to process old stockpiles in the Greenwood region, which were produced in the days when ore was hand sorted to ship at high grades directly to smelters. The local miners often stockpiled mineralized material which did not contain visually high grade precious metals. These stockpiles may be suitable for mill feed by the company in its processing facility. The Company is optimistic and is exploring the opportunity to acquire several deposits suitable for processing at its mill in the near future that will be acquired in conjunction with a retrofit of its mill. Successful acquisitions will be reported when finalized. The Company intends to test pre-concentration methods for possible use at these satellite deposits to upgrade the mined or stockpiled material, in order to reduce transport cost, and maximize the grade of the mill feed. To date no studies have been undertaken to ascertain the viability of any of the material that the company may acquire from outside sources. If and when firm acquisition of outside materials are completed the company intends to conduct in house scoping studies of each separate source of potential Mill feed. This will guide the companies decision making process on whether to mine and or process these potential mill feeds.

The Company is in the process of completing a $300,000 financing at $0.05 per share with a warrant at $0.075 exercisable for the first year, and exercisable for the second year at $0.10 for 3,000,000 non flow through units. Additionally the Company is offering 2,500,000 flow through units at $0.06 with a half warrant exercisable at $0.10 for the first year and $0.15 for the second year. This financing is subject to TSX-V approval.

The Company will be soliciting additional financings along with equity and debt financings in the near future, which will require TSX-V approval as well.

This News Release and the contained scientific and technical disclosure has been reviewed and approved by Mike Dufresne, M.Sc., P.Geol., P.Geo., a Qualified Person (QP) under NI 43-101. Mr. Dufresne has been the QP for our Greenwood project since 2010, and is familiar with our Boundary Falls Project by virtue of a number of site visits to the May Mac Mine and supervising a drill program on the Boundary Falls property on which the May Mac. Mine is located.

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.

SOURCE: Golden Dawn Minerals Inc.
Read the rest of the article at finance.yahoo.com

Golden Dawn Minerals Inc.

EXPLORATION STAGE
CODE : GOM.V
ISIN : CA3808956070
CUSIP : 380895 10 2
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Golden Dawn is a gold exploration company based in Canada.

Golden Dawn holds various exploration projects in Canada.

Its main exploration properties are TAM O'SHANTER, CENTRAL CATHARINE, 80 FOOT FALL, LINK-CATHARINE and WILD ROSE BC in Canada.

Golden Dawn is listed in Canada and in Germany. Its market capitalisation is CA$ 9.2 millions as of today (US$ 7.3 millions, € 6.4 millions).

Its stock quote reached its highest recent level on May 27, 2011 at CA$ 2.85, and its lowest recent point on October 17, 2014 at CA$ 0.01.

Golden Dawn has 101 870 000 shares outstanding.

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Financings of Golden Dawn Minerals Inc.
5/8/2013Announcing Proposed Private Placement
4/4/2013Private Placement of $66,810
1/8/2013Private Placement of $ 162,156
11/6/2012Closing of Private Placement of $140,500
Nominations of Golden Dawn Minerals Inc.
12/19/2013Results of AGM - Appointment of New Director
2/15/2011Announces New Appointment to Board
Project news of Golden Dawn Minerals Inc.
1/25/2016Golden Dawn reports final results of 2015 drilling at May-Ma...
12/11/2012Receives Updated Inferred Mineral Resource for Deadwood Gold...
1/25/2012Announces Exploration & Bulk Sampling Intentions on its Gree...
9/1/2011Announces Drilling Program on Boundary Falls
8/19/2011Announces Drilling Program on Wild Rose, Tam O'Shanter
8/4/2011and Nass Valley Gateway Announce NI 43-101
7/13/2011Receives Technical Report for NI 43-101
5/26/2011Receives Initial Mineral Resource Estimate
5/2/2011Renews Mine Evaluation at May Mac Mine
4/21/2011Schedules Resource Calculation
4/4/2011Intersects 127m Grading 0.43 g/t Gold
Corporate news of Golden Dawn Minerals Inc.
6/2/2016Golden Dawn Minerals Inc. Appoints New Executive Director & ...
5/12/2016Golden Dawn Drilling Intersects Gold And Silver Values Below...
4/25/2016Golden Dawn Completes Second Of Three Phases Of Huakan Green...
4/13/2016Golden Dawn Reports Positive Preliminary Economic Assessment...
4/13/2016Golden Dawn Signs Option Agreement With Huakan And Solicits ...
12/18/2015Closing of the Second Tranche of the Company’s Private Place...
12/18/2015Golden Dawn Minerals Inc.: Closing of the Second Tranche of ...
12/17/2015Golden Dawn Confirms Mineralized Zone Extends Below #6 And #...
11/23/2015IIROC Trading Resumption - GOM
11/23/2015Golden Dawn Drilling Intersects Mineralized Zone from #6 to ...
11/23/2015IIROC Trading Halt - GOM
10/22/2015Golden Dawn Minerals Inc. Assays Rock Channel Samples at 529...
10/15/2015GOLDEN DAWN MINERALS INC. STARTS DRILLING AT GREENWOOD PRECI...
10/14/2015Completion of the Financing for $268,147.40
10/13/2015Golden Dawn Minerals Inc.: Completion of the Financing for $...
10/1/2015GOLDEN DAWN MINERALS INC. SAMPLES 12.97 G/T GOLD OVER 0.87 M...
9/24/2015GOLDEN DAWN MINERALS INC. APPOINTS DR MATHEW BALL TO MANAGE ...
9/24/2015Golden Dawn Minerals Inc. Appoints Dr. Mathew Ball to Manage...
9/12/2015Golden Dawn Minerals Inc. Drops Tam O’Shanter Property
9/12/2015Golden Dawn Minerals Inc. Drops Tam O'Shanter Property
9/8/2015Golden Dawn Minerals Inc. Appoints a New German Director
9/2/2015Golden Dawn Minerals Inc. Upgrades Its Current Frankfurt Lis...
8/15/2015Completion of the Financing for $207,600
8/14/2015Golden Dawn Minerals Inc.: Completion of the Financing for $...
7/17/2015Golden Dawn Minerals Inc. Options Tam O'Shanter Property fro...
7/8/2015Golden Dawn Minerals Inc.: Completion of the Financing for $...
6/13/2015Closing of the First Tranche of the Company’s Non-Brokered P...
6/13/2015Golden Dawn Provides Update for Greenwood Exploration and Bu...
4/13/2015Golden Dawn Minerals Inc. Purchases 100% of Amigo Property, ...
4/13/2015Golden Dawn Minerals Inc. Granted Stock Options
4/2/2015Golden Dawn Minerals Inc. Granted Stock Options
3/26/2015Golden Dawn Minerals Inc. Purchases 100% of Amigo Property, ...
3/11/2015Closing of Private Placement
3/6/2015Company Update
2/5/2015Golden Dawn Announces Development Of Greenwood Project, Brit...
1/9/2015Final Tranche Closing of Private Placement
12/30/2014Closing the Private Placement of $ 65,250
10/28/2014Golden Dawn Announces Private Placement to Existing Sharehol...
4/17/2014Golden Dawn Drops Tam O' Shanter Property
4/4/2014Golden Dawn Announces the Resignation of Director
1/7/2014Announces Consolidation
6/12/2013News Release
3/14/2013Purchases the Boundary Falls Property Hosting the May Mac Mi...
1/29/2013Files National Instrument 43-101 Technical Report For Update...
12/11/2012News Release
10/2/2012News Release
10/2/2012s Exploration and Sampling Schedules for Greenwood Project W...
5/30/2012News Release
5/29/2012News Release
5/14/2012News Release
3/22/2012News Release
1/23/2012News Release
10/24/2011News Release
10/24/2011News Release
9/23/2011signs with Lichtfield
5/10/2011Schedules Drilling on Royal Attwood
5/9/2011s from Golden Dawn
5/9/2011SCHEDULES DRILLING OF MULTIPLE PRIORITY TITAN 24 GEOPHYSICAL...
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