Golden Dawn Reports Preliminary Metallurgical Results From May Mac Mine & Receives $1M USD From RIVI Capital LLC - Seite 2

Dewatering permit for the Lexington Mine: the Company completed a required public notification regarding its permit for de-watering and will submit the results to the Ministry of Environment this month. This should be the last hurdle for that permit. An application was also submitted for surface diamond drilling at the Golden Crown Mine to build on the resource estimate.

The company's milestones to be passed for the year 2017 are:
1. De-water the Lexington Mine, complete an operational mine plan for the Lexington Mine, with a view to trial mining in the 3^rd or 4^th quarter of 2017 (View Lexington Mine Image at: http://www.goldendawnminerals.com/images/Lexington Mine.jpg)

2. Extend the May-Mac's #7 adit by 1-2 hundred meters followed by additional drilling and a resource estimate (maiden resource) (View May Mac Mine Image at: http://www.goldendawnminerals.com/images/May Mac Extension.jpg)

3. Extract a bulk sample from the May Mac Mine and process this sample in the company's Greenwood mill (View Greenwood Mill Image at: http://www.goldendawnminerals.com/images/Greenwood Mill.jpg)

4. Increase the resource in the Golden Crown Mine by surface drilling. (View Golden Crown Mine Image at: http://www.goldendawnminerals.com/images/Golden Crown Mine.jpg)

The aim is to delineate combined mineral resources containing 500,000 oz Gold equivalent in the Lexington, Golden Crown and May Mac Mines. This is based on adding to the current inventory of Measured and Indicated resources at Lexington and Golden Crown that total 158,800 oz gold equivalent and inferred resources estimated at 15,400 oz gold equivalent, as documented in the N.I. 43-101 technical report (signing date April 08, 2016). Potential additions are based on exploration targets defined at the Lexington, Golden Crown and May Mac Mines. The Lexington and Golden Crown exploration targets were documented in the 2007 Technical Report on the Greenwood Gold Project by Merit Mining Corp. (signing date May 22, 2007). The Lexington exploration target was estimated at 155-190,000 tonnes grading 7.5-9.0 g/t Au and 1.2-1.5% Cu. The Golden Crown target was estimated to be 65,000-80,000 tonnes grading 8.0-10.0 grams Au per tonne and 0.4-0.5 per cent copper. These estimates were made on the basis of individual up- and down-dip targets situated adjacent to open ended portions of the deposit, assuming they have plan view dimensions of 20 x 20 m and grades that reflect their nearest drill intercept. At the May Mac Mine, an exploration target is estimated on the basis of potential strike and dip extensions of 650 and 340 metres, and averages grades, based on historic results, of between 100 and 400 g/t Ag, 1.5 to 5.9 g/t Au, 0.7 to 3.0% Pb and 0.3 to 1.9% Zn.