VANCOUVER, BRITISH COLUMBIA--(Marketwire - Mar 14, 2013) - Golden Dawn Minerals Inc. (TSX VENTURE:GOM)(3G8N.F) (the "Company" or "Golden Dawn") reports that the option agreement between Karl Schindler and Don Rippon the owners of the Boundary Falls property has been replaced by a purchase agreement to purchase 300 Hectares of the northern portion of the Boundary Falls claims and leases hosting the permitted May Mac Mine (formerly known as the Roberts Mine) 100 t/p day processing plant and tailings pond including water rights as well as a power line to the Mill.
View 3d property: http://wp.goldendawnminerals.com/nrimg/prop_view.jpg
The Boundary Falls Property with the above listed mining infrastructure is located 3 km west from the city of Greenwood in South Central B.C. on Highway #3 and is accessible 12 months per year. The property is contiguous to the Company''s Wild Rose Property to the north where the Company has delineated 24.5 million tonnes grading 0.53 grams per tonne (g/t) gold (Au) estimated to contain a total of 415,000 troy ounces of gold at a cut-off grade of 0.3 g/t gold in the inferred category on the Deadwood zone including the Wild Rose high grade underground Gold-Copper Mine which is located there (NR Jan. 29, 2013).
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The purchase price for the Boundary Falls property is 5,000,000 shares of common stock of the Company payable upon approval by the TSX Venture exchange.
Four character samples were taken from the Number 6 Adit of the May-Mac gold/silver mine during an inspection by Wayne Ash P.Eng, a mining engineer, and documented in a National Instrument 43-101 Technical Report titled "Development Plan Report for the May Mac Mine Area Within the Boundary Falls Mineral Property May 25, 2011", have returned high precious and base metal values. These character samples returned values ranging between 10.4 to 84.2 g/t gold and 404 to 2,080 g/t silver from the veins and wall rock materials within the Number 6 Adit as detailed below. See NR May 2, 2011.
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SAMPLES 1-4 ASSAY RESULTS
Character rock grab sample of massive sulfides left in "A-A" Zone, containing coarse-grained galena and massive pyrite; assay 0.93 g/t Au (0.027 opt Au), 844 g/t Ag (24.6 opt Ag), 19.75% Pb, 3.55% Zn, and 30.5% Fe.
Character rock grab sample of near-massive sulfide from the "A-A" Stope, but finer-grained than Sample #1; assay 84.2 g/t Au (2.45 opt Au), 2,080 g/t Ag (59.5 opt Ag), 24.3% Pb, 9.01% Zn, and 20.4% Fe.
Character rock grab sample of quartz vein 25 cm width, (which was apparently considered too narrow to warrant mining in 1974), with central band of near-massive pyrite, plus galena and sphalerite; assay 14.3 g/t Au (0.417 opt Au), 404 g/t Ag (11.8 opt Ag), 7.48% Pb, 5.35% Zn, and 15.0% Fe.
Character rock grab sample taken of a quartz vein which horse-tailed out into the right rib of the drift and having a width of approximately 1.2 meters; assay 10.6 g/t Au (0.31 opt), 421 g/t Ag (12.2 opt), 6.53% Pb, and 3.23% Fe.
In view of high precious metal prices at this time and the existing permitted facilities on site, the time frame for a 10,000 ton bulk sample to be taken from the May Mac Mine can be completed this year, subject to financing. Once a 10,000 bulk sample has been mined and reserves have been established parallel to the bulk tonnage mining and confirmed with a feasibility study, a decision can be made to take the May Mac Mine into production.
This news release has been reviewed by Michael Dufresne P.Geol and qualified person.
On behalf of the Board of Directors:
GOLDEN DAWN MINERALS INC.
Wolf Wiese, President/Chief Executive Officer
THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. 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.