VANCOUVER, BC / CRWEPRESSRELEASE / July 17, 2015 /Wolf Wiese, CEO of Golden Dawn Minerals Inc., (CVE:GOM) (FRA:3G8N.F) (the “Company”or “Golden Dawn“) reports that the Company has signed an option agreement on the Tam O’Shanter property with Kettle River Resources Ltd. (“Kettle River”).
The Tam O’Shanter property is located 8 km North-West of Greenwood, B.C., in the historic Greenwood mining district. The Tam O’Shanter Property encompasses 1400 ha. and is located 5 km North-West of the Company’s Boundary Falls property which has the May Mac Mine, the Amigo Mine and a processing facility.
The terms of the agreement allow Golden Dawn to earn a 100-per-cent interest by making cash payments for a total of $150,000 within 120 days of TSX Venture Exchange approval. The property is subject to a 3per-cent net smelter return royalty retained by Kettle River and gives Golden Dawn the right to purchase 2 per-cent of the NSR for $2-million.
Golden Dawn previously optioned this property in 2011 but dropped the option due to financial constraints in 2014. Golden Dawn drilled numerous diamond drill holes on the property and conducted various exploration programs, resulting in an inferred mineral resource, with 50% of this resource on the Tam O’Shanter property and 50% located on the contiguous Wild Rose property. The Company dropped the option on the Wild Rose property which reverted to the original vendors.
Golden Dawn is increasing its land holdings in the historic Greenwood Mining district to position itself for an anticipated upturn in the current down cycle of the resource sector.
The agreement is subject to TSX-V approval.
On behalf of the Board of Directors:
GOLDEN DAWN MINERALS INC.
For further information, please contact:
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 COMPANYTO BE MATERIALLY DIFFERENT FROM THE RESULTS, PERFORMANCE, OR ACHIEVEMENTS IMPLIEDBY THESE FORWARD LOOKING STATEMENTS. WE SEEK SAFE HARBOR.
SOURCE: Golden Dawn Minerals Inc.