Golden Dawn Minerals Inc. Intersects 55.7 M Grading 0.39G/T Gold, 0.04% Copper Within Broad Gold-Copper Zone, Greenwood Mining District, BC, Canada

VANCOUVER, January 24, 2011 /PRNewswire/ -- GOLDEN DAWN MINERALS INC.(TSXV- GOM, FRANKFURT 3G8) is pleased to announce continued excellent results from three additional diamond drill holes in the ongoing drill program on the Wild Rose-Tam O'Shanter properties in the Greenwood Mining District. Previously announced holes 10WR01 to 10WR03 were drilled at the Wild Rose property targeting the Wild Rose and Wild Cat vein zones and were reported upon in a Golden Dawn News Release dated January 12, 2011. As reported here, holes 10WR04 and 10WR05 are step out drillholes that have targeted the northwest strike extent of the Wild Rose and Wild Cat vein zones as well as the wide, low-grade, bulk tonnage gold-copper zone known as the Deadwood Zone along strike to the northwest. Drillhole 10WR06 was drilled approximately 400 m northwest of the hole 10WR05 and the Wild Rose/Wild Cat vein zones and targeted the Deadwood Zone.

Holes 10WR04 and 10WR05 intersected narrow semi-massive sulphide and quartz vein zones that are likely the extension of the Wild Rose veins system and yielded grades of up to 5.38 grams per tonne (g/t) gold (Au) across 1.1 m core length (in hole 10WR04) and 1.85 g/t Au across 1.87 m core length (in hole 10WR05). Both holes were drilled northwest of any known mineralization associated with the Wild Rose and Wild Cat vein systems extending the Wild Rose vein system at least 40 m to the northwest. In addition to the higher grade vein zones intersected in these two holes, both holes intersected wide low grade mineralization with up to 0.32 g/t Au across 31.29 m core length (in hole 10WR04) that is likely part of the bulk tonnage target Deadwood Zone which is approximately 400 m along strike to the northwest. Summary results from holes 10WR04 and 10WR05 are tabulated below.

Hole 10WR06 has extended the known gold-copper mineralization associated with the Deadwood Zone reported from historical drilling in the area, and has confirmed the widespread nature of the mineralization as well as extending the higher grade zone reported in historical hole 92-27 drilled in 1992. The intersection in 10WR06 lies within a target zone, the Deadwood Zone, of some 200 meters in width and exceeding 2000 meters in length. Mineralization in the latest hole 10WR06, is predominantly hosted in an altered and brecciated diorite along with hornfelsed sediments and extends from the surface to a total depth of the hole at 182.88 m core length. Altered diorite with sulphide mineralization yields up to 0.19 g/t Au and 0.02% copper (Cu) across 162.33 m core length in what appears to be porphyry style Au-Cu mineralization. The main Deadwood Zone yields up to 0.39 g/t Au and 0.04% Cu across 55.7 m core length. The summary results for 10WR06 are also tabulated below. The summary results for the historical drillhole 92-27 are included for comparison.

Hole 10WR-06 was drilled approximately 40 m along strike to the northwest of historical hole 92-27, and confirms the presence and continuity of the bulk tonnage Au-Cu Deadwood Zone. The expanded drilling program, due to commence late January, is expected to continue testing this substantial zone.

TABLE 1- Summary assay results for drill holes 10WR01 to 10WR06 plus historic hole 92-27.

    
    Drill Hole   Zone    From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Cu %
      10WR04   Deadwood1    7.5    37.5     30.0       0.11      -     0.01
               Deadwood2  58.83   90.12    31.29       0.32            0.01
               Wild Rose   77.9    83.0      5.1       1.61     3.11   0.09
               Includes    77.9    79.0      1.1       5.38     5.94   0.22
      10WR05   Deadwood1  17.07   40.25    23.18       0.13      -     0.02
               Deadwood2  64.18    98.0    33.82       0.15      -     0.03
               Wild Rose   93.0    98.0      5.0       0.79     2.15   0.08
               Includes   94.83    96.7     1.87       1.85     4.43   0.16
      10WR06   Porphyry    7.32  169.65   162.33       0.19      -     0.02
               Deadwood    88.5   144.2     55.7       0.39      -     0.04
               Includes    99.0   144.2     45.2       0.43      -     0.04
               Includes    99.0   102.0      3.0       1.60     72.9   0.03
               Includes   141.6   144.2     1.90       3.01     3.10   0.16
               Includes  142.36  142.75     0.39      11.86     3.60   0.07
     10WR01*   Deadwood    21.5   52.15    30.65       0.19      -     0.06
               Wild Cat   28.95    31.5     2.55       1.47      2.5   0.62
     10WR02*   Deadwood1   4.27    26.0    21.73       0.17      -     0.01
               Unknown     9.75    10.5     0.75       2.88      -     0.01
               Deadwood2   43.0    61.0     18.0       0.98      -     0.03
               Wild Cat    43.0    48.0     5.00       3.43      -      0.1
               Includes    44.4    46.1      1.7       9.57      -     0.21
               Includes    45.0    45.5      0.5      22.06      7.8   0.58
     10WR03*   Deadwood2  20.75    39.5    18.75       0.08      -     0.01
               Wild Rose  35.66    38.4     2.74       0.21      -     0.04-
     92-27**   Deadwood   86.48  163.98     77.5       0.74      -     0.04
               Includes  100.82  163.98    63.16       0.85      -     0.05
               Includes  100.82  136.45    35.63       1.25      -     0.07
               Includes   115.3  115.45     0.15      134.2      -        -

*Previously reported January 12, 2011 **Historic diamond drillhole completed in 1992 by Minnova Inc.

It is most encouraging that drilling to date on the program has encountered significant gold-copper mineralization of widespread low- grade nature along with higher grade vein material within the lower grade halos. The reader is referred to the Company's website for a PowerPoint and video presentation illustrating the historical drilling and the target zone for current drilling activity.

Phase 1 of the 16-hole program is expected to continue with the drilling of an additional 10 holes within next few days.

The reader is cautioned that historical drilling results are being confirmed by current drilling, and such historical results cannot be relied upon until reconfirmed. There are no known mineral resources on the property, and there can be no assurance that any mineral resources will be discovered on the property , and if discovered there is no assurance that any mineralization may be economically extracted.

The information in this release has been reviewed on behalf of the Company by consultants Dr. Stewart A Jackson, P. Geol. and Mike Dufresne, M.Sc., P.Geol., Qualified Persons. The program is being supervised by Mike Dufresne of APEX Geosciences Ltd.

ON BEHALF OF THE BOARD OF DIRECTORS OF GOLDEN DAWN MINERALS INC.

    
    Wolf Wiese
    President/CEO

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.

    
    For further information:

    GOLDEN DAWN MINERALS INC.
    575, 1111 WEST HASTINGS STREET,
    VANCOUVER, BC, V6E 2J3
    Telephone: +1-604-221-8936
    Facsimile: +1-604-685-2360