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13.11.2017
Golden Dawn Minerals Negotiating Potential Acquisition

Golden Dawn Minerals Negotiating Potential Acquisition

 

Vancouver, November 8, 2017, Wolf Wiese CEO of Golden Dawn Minerals Inc. (TSX-V: GOM; FRANKFURT: 3G8A; OTC: GDMRF) (the “Company” or “Golden Dawn”) announces that it is currently involved in negotiations with an arm’s length party with a view to materially increasing its mineral properties.  Readers are advised that, though negotiations have progressed to an advanced stage, the Company has not entered into any agreement at this time and there is no assurance that an agreement will be reached between the parties. 

 

Dewatering of the Company’s Lexington Mine is well underway.  High-volume pumping at the rate of approximately 1,000 cubic meters per day commenced on October 21, 2017.  The water elevation at the time was approximately 1,226 metres above sea level. Approximately 19,000 cubic metres of water have been discharged to date bringing the water level to 1,208 metres above sea level. 

 

The current water level is approximately half-way to the dewatering target elevation of 1,166 metres above sea level, which is anticipated to be reached by the end of November.  Once this target water level has been reached, operational dewatering at a pumping rate of 35 cubic metres per day will commence.   Dewatering activities have exposed the west portal area and several stopes which are currently accessible by the vent raise, which is currently undergoing rehabilitation and will be utilized as a secondary egress until rehabilitation of the west portal is complete.

 

The East ramp, from where the dewatering is taking place has shown little signs of degradation over the years, with only minor amounts of rehabilitation required thus far. 

 

About Golden Dawn Minerals
Golden Dawn Minerals Inc. is now one of the largest land owners in the Greenwood Mining district, located in South Central B.C.  In the last year, Golden Dawn Minerals has strategically acquired a permitted mine and mill complex – the Greenwood Gold project - and Kettle River Resources Ltd., which holds a large land package with numerous mineral deposits

 

The key component is the modern 200 tpd (expandable to 400) gravity-flotation mill and tailings facility. This mill was constructed and in 2008 produced gold and gold-copper concentrate from the Lexington and Golden Crown mines, also included in the acquisition.  A positive Preliminary Economic Analysis, based on N.I. 43-101 compliant resources in various categories, was completed last year for this project. 

 

Additionally, the Kettle River Resource acquisition completed this year includes 11,000 ha. of mineral claims covering 32 historic mines and 46 mineral showings, all located within a radius of 15 km of the mill.  Included in this package is the historic Phoenix mine, which produced nearly 1 million ounces of gold and 235,700 tonnes of copper from 1900-1919 and 1956-1978.

 

Technical disclosure in this news release has been approved by Mike Petrina, P. Eng. Geo., a Qualified Person as defined by National Instrument 43-101, and Mine Manager of the Lexington Mine.

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

 

This press release includes certain “forward-looking information” within the meaning of applicable Canadian securities legislation.

 

Forward-looking information is based on reasonable assumptions that have been made by Golden Dawn as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Golden Dawn to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; risks related to government and environmental regulation; problems inherent to the marketability of base and precious metals; industry conditions, including fluctuations in the price of base and precious metals, fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects Golden Dawn; stock market volatility; competition; risk factors disclosed in Golden Dawn’s most recent Management’s Discussion and Analysis and Annual Information Form, available electronically on SEDAR; and such other factors described or referred to elsewhere herein, including unanticipated and/or unusual events. Many such factors are beyond Golden Dawn’s ability to control or predict.

 

Although Golden Dawn has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate as actual results and future events could differ materially from those reliant on forward-looking information.

 

All of the forward-looking information given in this press release is qualified by these cautionary statements and readers are cautioned not to put undue reliance on forward-looking information due to its inherent uncertainty. Golden Dawn disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by law. This forward-looking information should not be relied upon as representing the Company’s views as of any date subsequent to the date of this press release.

 

Visit the Company's website at www.goldendawnminerals.com

 

 

 

On behalf of the Board of Directors:

GOLDEN DAWN MINERALS INC.

 

­­­­­­­­­“Wolf Wiese”______

­­­­Wolf Wiese

Chief Executive Officer

 

For further information, please contact:

Corporate Communications

604-221-8936                                     

allinfo@goldendawnminerals.com        

 

Renmark Financial Communications Inc.

Barry Mire: bmire@renmarkfinancial.com

Tel.: (416) 644-2020 or (514) 939-3989

www.renmarkfinancial.com

 

TSX-V: GOM

FRANKFURT EXCHANGE: 3G8A

OTC: GDMRF

 

THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. 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. THIS DOCUMENT CONTAINS CERTAIN FORWARD LOOKING STATEMENTS WHICH INVOLVE KNOWN AND UNKNOWN RISKS, DELAYS, AND UNCERTAINTIES NOT UNDER THE COMPANY’S CONTROL WHICH MAY CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM THE RESULTS, PERFORMANCE, OR ACHIEVEMENTS IMPLIED BY THESE FORWARD LOOKING STATEMENTS. WE SEEK SAFE HARBOR.

 

 



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