Golden Dawn Minerals Inc.
TSX VENTURE : GOM
FRANKFURT : 3G8N

August 31, 2012 17:39 ET

Golden Dawn Minerals Inc.: Closing of Private Placement of $254,740

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 31, 2012) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Golden Dawn Minerals Inc. (TSX VENTURE:GOM)(FRANKFURT:3G8N) (the "Company" or "Golden Dawn") announces that subject to the approval of the TSX Venture Exchange, it has closed a private placement, of 4,821,456 units, comprising 1,366,666 flow-through units ("FT Unit") at a price of $0.06 per FT Unit and 3,454,790 non flow-through units ("NFT Units") at a price of $0.05 per NFT Unit, for aggregate gross proceeds of $254,740. Wolf Wiese, President and CEO of the Company purchased 1,580,000 NFT Units.

Each FT Unit comprises one flow through common share and half transferable common share purchase warrant. Each NFT Unit comprises one common share and one transferable common share purchase warrant. Each whole share purchase warrant is exercisable at $0.10 per share before the first anniversary of the date of issuance, and $0.20 per share after the first anniversary of the date of the issuance but before the second anniversary of the date of the issuance.

All of the shares, warrants and any shares issued upon exercise of the warrants comprising the units will be subject to a hold period and may not be traded in British Columbia until four months and one day from the date of the final approval of the Exchange except as permitted by the applicable Securities Acts and the Rules made there under and the TSX Venture Exchange.

The Company will use the proceeds towards working capital and its exploration program on its Greenwood properties in British Columbia.

On behalf of the Board of Directors:

GOLDEN DAWN MINERALS INC.

Wolf Wiese, President/Chief Executive Officer

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.

This press release was prepared by management who takes full responsibility for its contents. 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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