Golden Share Mining Corporation

Golden Share Mining Corporation

May 27, 2009 09:00 ET

Golden Share Mining Corporation: Historical Data Outlines Gold Mineralization Over 1 Km2 in the Shebandowan Intrusive Complex of the Pistol Lake Property, Ontario, Canada

MONTREAL, QUEBEC--(Marketwire - May 27, 2009) - Golden Share Mining Corporation ("Golden Share")(TSX VENTURE:GSH) is pleased to provide details of the recent compilation on the Pistol Lake Property ("Pistol Lake") located in Northwestern Ontario, Canada.

The Pistol Lake property is accessible by road and is located 70 km west of Thunder Bay, Ontario, in the Shebandowan greenstone belt, a classic Archean sequence exhibiting strong similarities to the Hemlo, Timmins, Kirkland Lake and Val d'Or gold camps both in geological and tectonic evolution. Of specific interest is the synvolcanic Shebandowan Felsic Intrusive Complex ("SFIC") which bears similarities with other prolific syn-volcanic gold bearing complexes such as the Bourlamaque batholith and the Kirkland Lake stock of the Val d'Or and Kirkland Lake mining camps.

Golden Share's recent compilation has highlighted important auriferous occurrences over a 1km2 area within the SFIC. See attached "Gold Potential of Shebandowan Intrusive Complex" figure:

- The Martin Bay Zone consists in a highly altered regional deformation zone estimated to be 250 m in width where surface sampling of a quartz vein and stringer zone historic occurrence, as well as rock float material in its immediate vicinity, returned gold and silver values up to 107.45 g/t Au and 826.00 g/t Ag respectively. One preliminary 5 m wide trench was executed over 175 m by previous operator RJK Explorations ltd in 2004 and exposed highly deformed and altered quartz monzonite locally transected by zones of sulfide mineralization and quartz veins, stringers, stockworks and breccias. Eighteen grab samples taken from the trench returned assays varying between 0.01 and 21.56 g/t Au with 7 samples yielding grades above 1.00 g/t Au.

- The Trench 2 Zone, possibly northeast trending, is located one kilometre south-east of the Martin Bay zone, also within the SFIC. Preliminary sampling of rock float material returned gold values of up to 18.60 g/t Au. A second trench executed by RJK over 65 m exposed quartz monzonite with northeast trending joints and fractures and a three m wide zone exhibiting quartz veining sub parallel to the lineament. Four grab samples taken from the trench returned assays varying between 0.04 and 0.14 g/t Au.

- Outside the two aforementioned previous trenches, an important number of outcrop grab samples returned values between 0.01 and 2.65 g/t Au in association with sheared and altered quartz monzonite within the 1km2 Martin Bay - Trench 2 area.

Given its potential for gold mineralization, the SFIC has been extremely underexplored and Golden Share's recent compilation provides excellent exploration targets. The previous trenches were never properly cleaned and mapped and no drilling has ever been executed on these mineralized targets. Pistol Lake was acquired in October 2008 and no surface work was executed within the SFIC as insufficient time remained in the 2008 field season. A surface program is planned by Golden Share during the summer of 2009 to execute detailed mapping of his historic mineralization and to define drill targets for further investigation.

Golden Share's exploration programs are under the supervision of Mrs. Laurence Huss, P. Geo., and Vice-President Exploration. 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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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