Golden Share Mining Corporation

Golden Share Mining Corporation

September 23, 2010 12:51 ET

Golden Share Mining Corporation: Initiation of a 2000 Meter Diamond Drilling Campaign on the Lac Fortune West Gold Project, Quebec, Canada

MONTREAL, QUEBEC--(Marketwire - Sept. 23, 2010) - Golden Share Mining Corporation (« Golden Share »)(TSX VENTURE:GSH) is pleased to announce the start-up of a 2,000 m diamond drilling program on its Lac Fortune West Gold Project ("Lac Fortune").

The work will be conducted by Vanstar Mining Resources Inc. ("Vanstar" - TSXV:VSR). In August 2010 the property was subject to an option agreement with Vanstar through which Vanstar can acquire a 70% interest in Lac Fortune. The Property comprises 17 claims for a total surface area of 3.7 km² and is situated in the Rouyn-Noranda mining camp, in Quebec, Canada.

A first phase of compilation of historic work has been performed on the property's many gold-bearing structures and drill targets have been defined. The drilling of approximately 2,000 meters will begin in the coming weeks and will target extensions of certain known gold structures.

Lac Fortune straddles the Cadillac fault, a world renowned auriferous structure. Previous work by SearchGold has highlighted the South King zone area with very high grade mineralized intercepts such as 855.58 g/t Au over 0.35 m and 60.43 g/t Au over 0.27 m in drill hole FOR-05-07 as well as grades on important widths such as 1.83 g/t Au over 10.94 m from 72.50 to 83.44 m in drill hole FOR 05 20. Moreover, grades of up to 16.81 g/t Au were obtained in the eastern extension of the South King zone providing a strike extension of 780 m.

Situated directly to the northeast of Lac Fortune, the Francoeur gold mine owned by Richmont Mines ("Richmont") is part of a group of 11 similar deposits located within the Francoeur-Wasa shear zone, a very important east-north-east trending regional gold bearing structure which transects the northeast corner of the property. Richmont Mines recently announced the reopening of the Francoeur mine which is directly adjacent to the Lac Fortune West property. Francoeur contains probable reserves of 615,664 tons at 6.91 g/ton of gold.

Important exploration and development work is being executed in the immediate proximity of the property. Vantex Resources is advancing the Pitchvein Galloway zone to the south-west of the property where it is aiming to develop an Osisko type orebody. Recent drilling intersected values of 0.78 g/t Au over 160.5 m, including 1.01 g/t Au over 55.5m, 0.67 g/t Au over 73.65 m, 1.042 g/t Au over 36 m.

Golden Share is pleased to report that the start of additional drilling will further unlock the potential of the property for the benefit of all shareholders involved in the two companies.

This campaign will be under the supervision of MM. Daniel Kelly and Gilles Laverdière from Vanstar, both Qualified Persons as defined in NI 43-101.

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.

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