Golden Share Mining Corporation

Golden Share Mining Corporation

December 18, 2008 11:57 ET

Golden Share Intersects Contact Zone in Pistol Lake Drilling Program

MONTREAL, QUEBEC--(Marketwire - Dec. 18, 2008) - Golden Share Mining Corporation (TSX VENTURE:GSH) is pleased to provide an update on its 2008 drilling programs in Ontario, Canada.

Diamond drilling is now completed on the Pistol Lake property. Four holes totaling 420 m were drilled on the Contact Zone and JF West Zone. Preliminary geology is presented below and results are pending.

Contact Zone

This was the first ever drilling to be performed on the Contact zone over the Pistol Lake property. Hole PL-08-03 targeted a massive quartz vein identified on surface and located near the northern contact of the Shebandowan intrusive stock. It intersected sheared volcanics and monzonite with a 12.50 m zone of quartz veining containing locally up to 2% pyrite in the lower part of the hole. Hole PL-08-04 was drilled approximately 100 m north of PL-08-03 and targeted a trench were sheared and sulphide bearing volcanics had been identified. It intersected 140 m of strongly schistose mafic and felsic volcanics containing several zones of quartz veining and brecciation with associated sulfides, locally up to 5-7% chalcopyrite, pyrite and pyrrhotite. A 5.60 m massive quartz vein was intersected towards the middle of the hole.

JF West Zone

Two holes were drilled in the eastern part of the JF West zone. Both holes collared in quartz feldspar porphyry, the key unit of the JF West zone. Hole PL-08-01A intersected 55.25 m of porphyry while a 44.60 m section is reported in hole PL-08-02A. The porphyry is consistently altered, hosts networks of quartz veins and contains fine grained disseminated pyrite and chalcopyrite locally up to 2%.

Hole No. Easting Northing Azimuth Dip Depth (m)
PL-08-01A 705500 5392100 vertical -90 degrees 87
PL-08-02A 705438 5392077 vertical -90 degrees 98
PL-08-03 703400 5391500 90 degrees -45 degrees 95
PL-08-04 703398 5391661 225 degrees -45 degrees 140

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

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.

Contact Information