Golden Share Mining Corporation
TSX VENTURE : GSH

Golden Share Mining Corporation

October 22, 2009 09:00 ET

Golden Share Recovers 25.50 g/t Au on Surface and Completes Pistol Lake 2009 Drilling Program

MONTREAL, QUEBEC--(Marketwire - Oct. 22, 2009) - Golden Share Mining Corporation (TSX VENTURE:GSH) is pleased to announce that its diamond drilling program is now completed on the Pistol Lake property, in Ontario, Canada. A total of 9 holes for 537 m were drilled principally on the Martin Bay Zone. The core is being split and will be shipped to the laboratory by early next week.

Surface field reconnaissance was executed prior to the drilling campaign and a total of 23 surface outcrop grab samples weighting up to 3 kg each were collected. The main trench was mapped over 160 m across the Martin Bay zone and exposes strongly altered monzonite hosting trace to 5% pyrite. Several quartz vein networks have been recognized in association with the altered system.

- Historical "Haines vein": a low-angle dipping vein up to 20 cm in width containing up to 3% pyrite, 3% chalcopyrite and 2% galena. A total of 5 samples yielded grades of up to 25.50 g/t Au in the vein and wall rock.

- New GSH vein: a low-angle dipping vein up to 35 cm in width containing up to 3% pyrite and 1% chalcopyrite. This vein, a new Golden Share discovery, was identified on the Shebandowan lake front 40 m west of the Haines Vein. A total of 2 samples yielded grades of up to 12.25 g/t Au in the vein and wall rock.

- Historical "Latite vein": a moderately south dipping quartz vein up to 15 cm in width containing up to 3% pyrite. A total of 3 samples yielded grades of up to 1.38 g/t Au in the vein in the vein and wall rock.

- All samples were assayed for silver and yielded up to 151.00 g/t Ag in the Haines vein.

- The monzonite is silicified and shows hematite, sericite and carbonate alteration. A total of 13 altered monzonite rock samples yielded grades of up to 0.38 g/t Au.

A total of eight holes were drilled on the Martin Bay zone located in the Shebandowan felsic intrusive complex. One hole was drilled on the northern contact of the JF West zone were an important boulder field was uncovered at the end of the 2008 season. Meter size, angular boulders of brecciated, silicified and hematized shear with quartz veins displaying up to 9% pyrite and 12% chalcopyrite in the vein and yielding grades of up to 0.20 g/t Au are reported.

The Pistol Lake exploration program was supervised by Mrs Laurence Huss, M.Sc., P. Geo. and Vice-president Exploration of Golden Share. Laurence Huss is a "Qualified Person" as defined in National Instrument 43-101.



Table. 1 - Drill hole statistics

--------------------------------------------------------------------------
Hole No. Azimuth Dip Depth (m) Target
--------------------------------------------------------------------------
PL-09-05 278 degrees -50 degrees 60 Haines Vein
--------------------------------------------------------------------------
PL-09-06 Vertical -90 degrees 30 Haines Vein
--------------------------------------------------------------------------
PL-09-07 353 degrees -85 degrees 33 GSH Vein
--------------------------------------------------------------------------
PL-09-08 320 degrees -47 degrees 60 GSH Vein
--------------------------------------------------------------------------
PL-09-09 360 degrees -47 degrees 60 Altered Monzonite
--------------------------------------------------------------------------
PL-09-10 163 degrees -47 degrees 93 Altered Monzonite
--------------------------------------------------------------------------
PL-09-11 323 degrees -47 degrees 30 Latite Dyke Vein
--------------------------------------------------------------------------
PL-09-12 151 degrees -47 degrees 81 Altered Monzonite
--------------------------------------------------------------------------
PL-09-13 024 degrees -45 degrees 90 JF West North Contact
--------------------------------------------------------------------------


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.

Contact Information