Vancouver, British Columbia--(Newsfile Corp. - June 9, 2015) - Wolf Wiese, CEO of Golden Dawn Minerals Inc., (TSXV: GOM) (FSE: 3G8N) (the "Company" or "Golden Dawn") reports that the Company has closed its first tranche of a non-brokered private placement financing of up to 5,000,000 non flow-through units (the "NFT Units") at $0.08 per NFT Unit with a full warrant exercisable for two years at $0.10 per share and up to 5,000,000 B.C. Super flow-through units (the "FT Units") at $0.09 per FT Unit with a full warrant exercisable for two years at $0.105 per share, for a total of up to $950,000 ($400,000 and $450,000 respectively). This transaction is subject to TSX-V approval.
Golden Dawn will issue 2,390,000 NFT units and 280,000 FT units for aggregate gross proceeds of $216,400 in this first tranche.
The Company will endeavour to close this financing in one or two additional tranches, in the last week of June for a total of $950,000.
The FT units will be used to extend the #7 Adit of its May Mac Mine to the next mineralized Zone assumed to be 50 to 75 meters north of the existing termination of the #7 Adit.
The NFT funds will be used to advance the existing permit on the May Mac Mine by permitting the extension of the #7 adit, general clean up required at the mine site, working capital and engineering cost to increase the capacity of our tailings pond.
The FT funds will finance the underground drifting of an estimated 50-75 meters, once fully permitted. The program will also include underground drilling with the intention of establishing a mineral resource and surface exploration on the Amigo Mine and May Mac Mine. The Amigo Mine is located 1,100 meters south of the May Mac Mine.
Once these tasks are completed the company will endeavour to finance the retrofit of its 100 t/d gravity floatation Mill, estimated to cost $500,000 on the low end and $750,000 on the high end.
This news release has been reviewed and verified by Michael Dufresne, MSc, PGeol, PGeo, of Apex Geoscience Ltd., a qualified person as defined by National Instrument 43-101.
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.
