Golden Valley Mines Ltd.: Election of Directors and Confirmation of Advance Notice Provisions

VAL-D'OR, QUÉBEC--(Marketwired - June 13, 2013) - Golden Valley Mines Ltd. ("Golden Valley Mines" or the "Company") (TSX VENTURE:GZZ) announces the results of its Annual and Special Meeting of Shareholders (the "Meeting") held on June 12, 2013 in Montreal, Quebec.

At the Meeting, shareholders approved the re-election of all of the members of the Company's board of directors, namely Messrs. Joseph Groia, Blair F. Morton, Glenn J. Mullan, Robert D. Smith, Chad Williams, and Dr. C. Jens Zinke. The board of directors is comprised of a majority of independent directors.

Additionally, amongst the other resolutions passed at the Meeting, shareholders confirmed the adoption of an amendment to the Company's by-laws requiring that advance notice be given to Golden Valley Mines in circumstances where a shareholder wishes to nominate a person for election as a director of the Company (the "By-Law Amendment"). A copy of the By-Law Amendment will be filed with regulators and available for viewing under the Company's issuer profile on SEDAR through the internet at www.sedar.com.

About Golden Valley Mines Ltd.: The Company typically tests initial grassroots targets while owning a 100% interest therein and then seeks partners to continue exploration funding. This allows the Company to carry on its generative programs and systematic exploration efforts at other majority-owned grassroots projects. The Company (together with its various subsidiaries) holds property interests in projects in Canada (Saskatchewan, Ontario and Québec).

Forward Looking Statements:

This news release contains certain statements that may be deemed "forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.