Golden Share Mining Corporation

Golden Share Mining Corporation

November 27, 2008 09:15 ET

Golden Share Starts Drilling on Pistol Lake Property

MONTREAL, QUEBEC--(Marketwire - Nov. 27, 2008) - Golden Share Mining Corporation (TSX VENTURE:GSH) is pleased to provide an additional update on its 2008 drilling programs in Ontario, Canada.

The diamond drilling program on the Pistol Lake property has started and is now in progress. Two specific zones are to be tested by drilling :

- The J.F. West Zone; a gold bearing deformation zone up to 50 m in width characterized by intense quartz veining and breccia zones and so far defined over a 900 m strike length by 23 historic drill holes with intercepts from 12.91 g/t Au over 1.50 m to 2.14 g/t Au over 16.70 m. The current drill program will test the eastern extension of the J.F. West Zone.

- The Contact Zone; a gold-bearing deformation zone occurring along the northern contact of the Shebandowan Stock which hosts the Band Ore gold deposit located 8 km east of the Pistol Lake property. Recent surface prospecting has identified quartz veining hosted in a strongly sheared zone which reported strongly anomalous gold values. This target which has never been tested on the property is being investigated by the current drill program.

The Pistol Lake property also hosts two additional important gold zones :

- The Calchris Zone where a recent stripping program by Golden Share has exposed a 30 m wide strongly altered volcanic sequence hosting quartz veins up to 1 m thick (see press release dated November 5th 2008 for a full description of the geology). Channel sampling assays are pending and this recent geological surface work will greatly improve the understanding of the zone.

- The Martin Bay Zone where very high grade gold and silver values (up to 107.45 g/t Au and 826.00 g/t Ag respectively) have been obtained in the past. This zone will be the object of surface geological work during the next summer season.

Clarke Exploration Consulting, a Thunder Bay, Ontario, Canada, based geological consulting group, is responsible for the geological management of the on-going work on the Elwood and Pistol Lake properties under the supervision of Mr. Desmond Cullen, P. Geo. who is a "Qualified Person" and is independent as defined in National Instrument 43-101.

Core logging and sampling are presently in progress. Individual samples weighting 3kg on average are taken from sawn half core at +/- 1 meter intervals in the mineralized zones with consideration of the geological contacts. A rigorous QA/QC program involves the random inclusion of mineralized standards, duplicates and blanks at the sample collection and preparation stage.

The samples are shipped to the ALS laboratory in Thunder Bay, Ontario, for analysis by fire assay on 50g pulp samples. The sample preparation procedure involves the crushing of the entire 3kg sample followed by quartering to obtain a representative 850 to 1000g sample which is entirely pulverized and out of which a 50g sample is isolated for analysis by fire assay. Samples suspected to contain visible gold or higher grade mineralization are assayed using the metallic sieve technique.

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

Golden Share intends to report on a regular basis on the advancement of its work programs. 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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