Golden Share Mining Corporation
TSX VENTURE : GSH

Golden Share Mining Corporation

May 15, 2008 09:00 ET

Golden Share Provides Update On Forsan Property

MONTREAL, QUEBEC--(Marketwire - May 15, 2008) - Golden Share Mining Corporation (TSX VENTURE:GSH) is pleased to provide an update on its Forsan property.

The Forsan property is located 45 km east of the town of Val d'Or, Quebec, Canada. It consists in 50 claims for a total property surface area of 800 hectares. Golden Share holds an option to acquire a 100% interest over 3 years by paying the Vendor a total of $125,000; issuing 1,200,000 shares and incurring a total of $500,000 in exploration expenditures. An additional 800,000 shares can be issued at any time in the event that measured and indicated resources representing a metal content of 500,000 ounces of gold or more can be defined; a first tranche of 400,000 shares would be issued when a first threshold of 250,000 ounces of gold is achieved. A first payment of $25,000 and the issuance of 400,000 shares have already been executed.

The Forsan property is located at the eastern extremity of the Abitibi greenstone belt in a favourable geological environment. The past producing Chimo mine is located 6 km west-south-west of the Forsan property and in 1987 past-production and remaining historical reserves amounted to 295,000 ounces of gold (1,390,000 tons of ore at a grade of 6.60 g/t Au(i)). The Croinor deposit is located 10 km north-east of the Forsan property and a recent evaluation by Met-Chem in 2003, revised in 2005, concluded to the presence of measured resources of 210,000 ounces of gold (1,868,866 tonnes at a grade of 3.50 g/t Au) and indicated resources of 68,000 ounces of gold (632,536 tonnes at a grade of 3.34 g/t Au).

See attached "Regional Geology" figure: http://media3.marketwire.com/docs/Forsan_Regional_Geology.pdf

On the Forsan property, the gold mineralization is directly associated with low angle quartz veins and the principal mineralized zone, the Forsan occurrence, is hosted at the contact between a mafic agglomerate unit and a porphyry dyke in the vicinity of northeast trending diabase dyke. The Forsan mineralized zone has been the object of sufficient work to establish an historical resource estimate of 40,000 ounces of gold (282,605 metric tonnes at a grade of 4.42 g/t Au(i)).

The resource comprises mostly the low angle quartz veins. However, the initial 2007 property visit by Golden Share showed that additional types of auriferous targets, such as sub-vertical sulfide bearing shear zones and disseminated sulfides in the quartz feldspar porphyry, are present. These two targets yielded surface grades of up to 5.73 g/t Au and 3.10 g/t Au respectively from 1-2 kg surface rock samples collected by Golden Share. Moreover, additional porphyry bodies that have not been properly investigated in the light of their specific relationship to the gold mineralization are present elsewhere on the property. In the case of the southern porphyry, grades of up to 17.40 g/t Au over 0.40 m have been returned in previous reconnaissance drilling.

See attached "Property Geology" figure: http://media3.marketwire.com/docs/Forsan_Property_Geology.pdf

Muroc Inc., a geological consulting firm based in St-Adolphe d'Howard, Quebec, has appointed Mr. Pierre Poisson to the position of senior geologist for the Forsan project. InnovExplo, a Val d'Or based geological consulting group, will also provide specific consulting services to initiate a NI 43-101 compliant validation process. A first field visit was executed on April 29th 2008 and field work is expected to start during the month of May. The first phase will consist in a surface campaign to evaluate the recently identified targets and additional porphyry bodies. Phase two will consist in a 5,000 m diamond drill program to test the best targets and advance the 43-101 compliant validation process.

Golden Share intends to report on a regular basis on the advancement of its work programs. The Company is also simultaneously working towards increasing its visibility in Canada and Europe.

Philippe Giaro, P.Geol., President and CEO of Golden Share Mining Corporation and Qualified Person for Golden Share, has reviewed and approved the content of this release.

(i) 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.

About Golden Share Mining Corporation

Golden Share Mining Corporation (TSX VENTURE:GSH) is a Canadian-based mining exploration company whose primary mission is to target, explore and develop gold deposits in Canada. Golden Share was created through the reorganization of SearchGold's Canadian gold assets and is lead by an experienced management team at the technical and corporate level. The Company's projects straddle three greenstone belts of Eastern Canada, are accessible by road and are all located close to the established mining centers of Val d'Or and Rouyn-Noranda in Quebec and Shebandowan, west of Thunder Bay, in Ontario.

Golden Share recently completed its initial public offering and finalised a $2,666,025 financing with Canaccord Capital Corporation who acted as the agent. The Company has 19,605,193 common shares issued and outstanding and Golden Share's common shares have started trading on the TSX Venture Exchange under the symbol " GSH " on January 14th 2008. The net proceeds from the initial public offering will be used by Golden Share mostly for exploration work on its Forsan and Malartic Lakeshore properties, and for working capital and general corporate purposes.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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