Golden Share Mining Corporation

Golden Share Mining Corporation

June 28, 2011 16:20 ET

Golden Share Mining Corporation Shareholders Approve Band Ore Gold Property Purchase from Lake Shore Gold Corp.

MONTREAL, QUEBEC--(Marketwire - June 28, 2011) - Golden Share Mining Corporation ("Golden Share" or the "Company")(TSX VENTURE:GSH) is pleased to announce that at the annual general and special meeting held on June 28th, shareholders have approved the acquisition by Golden Share of Lake Shore Gold Corp.'s ("Lake Shore Gold") 100% interest in the Band Ore Gold property ("Band Ore") as previously announced in Golden Share's news release dated March 28th 2011 (the "Acquisition"). The shareholders have also confirmed the appointment of the Company's current directors for an additional one year term.

Under the terms of the Acquisition, Golden Share would own 100% of the Band Ore property and Lake Shore Gold would become Golden Share's largest shareholder with an approximately 19.99% ownership interest in the Company.

Details of the Acquisition were originally proposed in a Letter of Intent signed on March 25th 2011 (see press release dated March 28th 2011) and a final acquisition agreement was entered into by both Golden Share and Lake Shore Gold on June 13th 2011 (see press release dated June 14th 2011).

About Golden Share Mining Corporation

Golden Share Mining Corporation is a Canadian-based mining exploration company whose primary mission is to target, explore and develop gold deposits in Canada. Golden Share is developing a promising portfolio of properties in the greenstone belts of eastern Canada, namely in the Val d'Or-Malartic, Red Lake and Shebandowan areas.

The Company is led by a technically focused management team strengthened by an experienced board of directors and a proven advisory board including successful geologists Roy Corrans and Sethu Raman as well as seasoned financier Anthony Frizelle.

Golden Share's development strategy involves advancing a well balanced portfolio of gold properties in a politically stable environment with a history of gold endowment through systematic exploration, resource definition and acquisitions. Highlights of the current portfolio include:

  • NI 43-101 and historical resources on Shebandowan Gold Play (150,699 oz Au Inferred* and 251,271 oz historical**)

  • Past producing high grade Au-Ag Berens River Mine to be redeveloped,

  • NI 43-101 compliant resources on Forsan (35,000 oz Au Inferred Resources***),

  • New discoveries in the Cadillac break environment.

* 2,857,200 MT @ 1.64 g/t Au at 1.00 g/t Au cut off

**These estimates were executed prior to the introduction of National Instrument 43-101; hence they should be treated as historical data and therefore not be relied upon.

*** 536,500 MT @ 2.03 g/t Au at 1.00 g/t Au cut off


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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