Golden Share Mining Corporation
TSX VENTURE : GSH

Golden Share Mining Corporation

September 15, 2011 09:46 ET

Golden Share Reports Surface Grades Up to 31.70 g/t Au North-East of Band Ore and 25.80 g/t on Pistol Lake

MONTREAL, QUEBEC--(Marketwire - Sept. 15, 2011) - Golden Share Mining Corporation ("Golden Share" or the "Company") (TSX VENTURE:GSH) is pleased to provide an update on its 2011 Shebandowan Gold Project ("SGP") on-going work program.

Highlights:

  • Surface mapping and prospecting program : 529 km of traverses completed and 2,209 surface rock samples collected with assays for 2,087 samples received so far.
  • Sampling of old trenches 300 m north-east of Band Ore Main Zone yielded grades of up to 31.70 g/t Au in a sub-parallel shear system to the Main Zone felsic intrusive hosted pyrite bearing shear where grades of up to 93.30 g/t Au were reported by Golden Share on August 30th 2011.
  • Sampling and detailed mapping on the eastern and western extensions of Pistol Lake yielded grades of up to 25.80 g/t Au and open up potential extensions of the mineralisation towards the east.
  • Trenching program : A total of 18 trenches have been excavated, including 7 trenches on the Band Ore Main Zone, 3 trenches on the Band Ore western extensions / Hag Lake area and 8 trenches on the eastern extension of Pistol Lake.
  • The trenching program is completed and a total of 798 channel samples have been collected and are currently being assayed.
  • Drilling program : Several holes have been spotted in preparation for the upcoming drilling campaign, continued planning in progress.

For additional details on the surface mapping and prospecting program, see attached figure "Pistol Lake - Band Ore Grab Samples 2011" (http://media3.marketwire.com/docs/Shebandowan_Grab_sept_2011.pdf) and for trench location see attached figure "Pistol Lake - Band Ore Trenching 2011" (http://media3.marketwire.com/docs/Shebandowan_Trench_sept_2011.pdf) or visit : http://www.goldenshare.ca.

About the Shebandowan Gold Project

The SGP is located 90 km west of Thunder Bay, north-western Ontario, in the Rainy River – Atikokan – Shebandowan emerging gold province where Osisko Mining Corporation is currently developing the 6.7 M oz Au Hammond Reef gold deposit 100 km to the West of the Company's project. The SGP is serviced by a railroad line, a high tension power line and the Trans-Canada highway all providing excellent infrastructure to the project.

Following completion of the recent transaction with Lake Shore Gold Corp. for the acquisition of the Band Ore property, Golden Share controls 25 km of strike length along the northern part of the Shebandowan belt highlighted by two advanced gold targets :

  • Pistol Lake JF's West zone : 150,699 oz Au Inferred Resource (2,857,200 MT @ 1.64 g/t Au at 1.00 g/t Au cut off / NI 43-101 compliant).
  • Band Ore deposit : 251,271 oz Au in historical resources within two principal zones (706,000 tonnes at a grade of 6.86 g/t Au** in the Main Zone and 616,000 tonnes at a grade of 4.83 g/t Au** in the # 4 zone).

The Pistol Lake - Band Ore trend ("PLBO") represents a 10 km segment of the belt on which Golden Share is executing advanced work with a view to increase the current known resources.

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

Golden Share's exploration programs are executed under the supervision of Mrs. Laurence Huss, M.Sc., P. Geo., a « Qualified Person » as defined in National Instrument 43-101, and Vice-president Exploration of Golden Share. Philippe Giaro, P.Geo., President and CEO of Golden Share and Qualified Person for Golden Share, has reviewed and approved the content of this release.

FOR MORE INFORMATION, CONSULT http://www.goldenshare.ca OR OUR FACEBOOK PAGE AT http://www.facebook.com/people/Golden-Share/100001472712018

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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