Golden Share Mining Corporation

Golden Share Mining Corporation

October 09, 2008 09:00 ET

Golden Share: Trenching Defines New Gold Target Over 300 m Strike Length on Forsan Property

MONTREAL, QUEBEC--(Marketwire - Oct. 9, 2008) - Golden Share Mining Corporation (TSX VENTURE:GSH) is pleased to announce the results of the summer 2008 trenching program on its Forsan property as well as provide a broader perspective on the potential of the property.

Following surface geological evaluation work, a trenching program was executed during the month of August 2008. The object of the program was two fold:

- To improve the understanding of the Forsan Mineralized Zone ("FMZ");

- To expose potential sub-parallel zones recognized during geological evaluation work.

A new mineralized sector discovered by Golden Share and named Forsan Southwest Zone ("FSZ"), is located to the southwest of the FMZ and was recognized over an initial strike length of 300 m. The mineralization discovered in trench # 5 shows that the gold is associated with two distinct sulfide bearing tourmaline-quartz veins displaying individual true widths of up to 0.20 m. The veins are oriented 280 degrees with a dip of 42 degrees towards the south and the following mineralized intervals above 1.00 g/t Au were obtained:

- 3.95 g/t Au over 0.90 m
- 2.81 g/t Au over 0.90 m
- 2.49 g/t Au over 0.60 m
- 1.88 g/t Au over 1.50 m (including 5.10 g/t Au over 0.50 m)
- 1.51 g/t Au over 1.80 m
- 1.19 g/t Au over 0.80 m

East-west shearing was observed in trenches # 4 and 10 and is believed to control the mineralization. In trench # 10, a sulphide bearing shear returned a value of 3.18 g/t Au over 1.00 m, included in a broader interval of 1.67 g/t Au over 2.00 m.

Trenches # 8A and 8B were executed to provide additional surface information on the FMZ. It now appears mineralization is controlled by east-west shears and most of the mineralized veins show an east-west strike with a low angle southern dip in most cases. The porphyric intrusive occurs as a late-stage event and the gold mineralization extends east and west beyond the contacts of the intrusive body. The following mineralized intervals above 1.00 g/t Au were obtained in trenches # 8A and 8B and confirm the type of mineralization previously reported :

- 7.52 g/t Au over 0.50 m
- 5.00 g/t Au over 2.00 m (including 8.54 g/t Au over 1.00 m)
- 1.09 g/t Au over 3.00 m (including 2.84 g/t Au over 1.00 m)

A total of 11 trenches were excavated and were the object of a detailed mapping and channel sampling program by Golden Share; the program comprised a total of 231 individual channel samples. The results as detailed above are presented in the attached figure:

The FMZ underwent systematic diamond drilling in the late 1980's. The gold mineralization is directly associated with low angle quartz veins and the FMZ 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). 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.

Although some detailed mapping has been carried out in the past, it is believed that some of the structural parameters of the FMZ have not been fully understood by the previous operators. Detailed surface work, as executed over the summer by Golden Share, has allowed collecting an important quantity of information that will result in a better understating of the FMZ. An initial conclusion is that the striking structural similarities between the FMZ and the FSZ allow for the establishment of a comprehensive model for the property.

Quality assurance / quality control (QA/QC)

The Forsan exploration program is supervised by Mr. Pierre Poisson, P. Geo., of Muroc Inc., a geological consulting firm based in St-Adolphe d'Howard, Quebec. Pierre Poisson is a "Qualified Person" as defined in National Instrument 43-101. The channel sampling program was executed with a very strict QA/QC protocol which includes mineralized standards and blanks. Rejects were stored for future reference and analysis were performed at the ALS-Chemex laboratory in Val-d'Or, Quebec, Canada. The exploration programs are under the supervision of Mrs Laurence Huss, P Geo., and Vice-President Exploration of Golden Share.

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.

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 completed its initial public offering in December 2007 and finalised a $2,666,025 financing with Canaccord Capital Corporation who acted as the agent. The Company's common shares started trading on the TSX Venture Exchange under the symbol "GSH" on January 14th 2008. Golden Share financed and additional $1,075,000 in early July 2008 including a $500,000 flow-through financing to be allocated to the developments of its activities in Ontario and particularly for the Elwood property located near Thunder Bay. The Company has 25 055 193 common shares issued and outstanding and with a current cash position of $2.2 million, Golden Share is fully funded and able to accomplish all of its major exploration programs for 2008 as well as proceed with additional strategic acquisitions.

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

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