Golden Share Mining Corporation

Golden Share Mining Corporation

February 04, 2010 09:00 ET

Golden Share Acquires Lutetium Ree Property in Central Quebec, Canada

MONTREAL, QUEBEC--(Marketwire - Feb. 4, 2010) - Golden Share Mining Corporation (TSX VENTURE:GSH) is pleased to announce the acquisition by map staking of the Lutetium Property, located in central Quebec, Canada.

The property, located in the Maniwaki area, consists in 23 claims for a total surface area of 13.7 km² and is directly accessible by road. See attached figure.1:

REE mineralization is reported over an area of 1,000 m by 300 m with grades of up to 1.32% Total Rare Earth Elements ("TREE") obtained from historical surface sampling with individual assays showing the presence of several important heavy rare metals ("HREE"). See attached figure.2:

Lutetium, reportedly the highest price REE, is reported with grades of up to 87.6 ppm (g/t). Lutetium is used in some nuclear applications, in experimental nuclear medicine and also as a catalyst for cracking hydrocarbon chains in petroleum refineries. Samarium, which is increasingly used for high power magnets, is reported with grades up to 618 ppm (g/t).

Reported assays for other HREE include Terbium (Tb - 70 ppm (g/t)) and Ytterbium (Yb - 531 ppm (g/t)) while reported LREE include Cerium (Ce - 7 550 ppm (g/t)) and Lanthanum (La - 4 330 ppm (g/t)).

The REE occurrence is located at the contact between metasediments and migmatites, a geological environment favourable for the concentration of pegmatites and the deposition of REE. Several syenite intrusive bodies have been identified in the vicinity of the Lutetium property and, given the enrichment of peralcaline syenites in HREE, these syenites could act as reservoirs for REE.

Philippe Giaro, President and CEO, stated "The Lutetium property attracted our attention during an extensive geological review of Quebec conducted in the fall of 2009. We believe that given the presence of HREE and current market trends this acquisition adds value to our portfolio for a minimal cost. While Golden Share intends to provide its shareholders with special opportunities when justified, the Company remains focused on its core business which consists in the development of its gold properties through the delineation of gold resources on its Forsan and Pistol Lake projects and the continued exploration of its Malatric Lakeshore and Elwood projects."

Mapping and sampling work will be executed on the Lutetium property as soon as weather permits. In the shorter term, and as announced by press release on January 12th, Golden Share is currently executing a NI 43-101 compliant resource calculation on the JF West Zone of the Pistol Lake gold project which is expected to be finalized by March 2010.

Philippe Giaro, P. Geo., President and CEO of Golden Share Mining Corporation and Qualified Person for Golden Share, has reviewed and approved the content of this release. 

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.

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