Golden Share Announces the Closing of Flow Through Financing for Gross Proceeds of $179,800 and Provides Project Update

Toronto, Ontario--(Newsfile Corp. - September 8, 2016) - Golden Share Mining Corp. (TSXV: GSH) (the "Company" or "Golden Share") is pleased to announce the closing of a private placement of 719,200 flow-through shares in the share capital of the Company at a price of $0.25 per share for gross proceeds to the Company of $179,800.

Canaccord Genuity Corp. acted as a finder for a portion of the private placement and received a finder's fee consisting of a cash payment of $13,584.

The proceeds of the private placement will be used to explore the Company's Berens River Project. The work program will consist of a ground IP orientation survey, a geochemical orientation survey, ground prospecting, and surface mapping.

With the consent of the Sandy Lake First Nation and the work permit issued by Ministry of Northern Development and Mines (Ontario), Golden Share has mobilized the geophysical crew from Abitibi Geophysics to the Berens River Project. The work program has been blessed by the elders of the Sandy Lake First Nation. The geological portion of this news release was reviewed by Steven Siemieniuk, P.Geo., Golden Share's qualified person as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

The flow-through shares are subject to a hold period of four months and one day from their date of issuance under applicable Canadian securities laws, expiring January 9, 2017. The flow-through shares have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

The private placement remains subject to the final approval of the TSX Venture Exchange.

About Golden Share

Golden Share Mining Corp. is a Canadian junior mining company focusing on exploration in the province of Ontario, a politically stable jurisdiction with a long history mineral exploration and development.

CAUTIONARY LANGUAGE REGARDING FORWARD-LOOKING INFORMATION

This news release contains and refers to forward-looking information based on current expectations. All other statements other than statements of historical fact included in this release are forward looking statements (or forward-looking information). The Company's plans involve various estimates and assumptions and its business is subject to various risks and uncertainties. For more details on these estimates, assumptions, risks and uncertainties, see the Company's most recent management discussion and analysis on SEDAR at www.sedar.com. These forward looking statements are made as of the date hereof and there can be no assurance that such statements will prove to be accurate, such statements are subject to significant risks and uncertainties, and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements that are included herein, except in accordance with applicable securities laws.

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.

FOR MORE INFORMATION, CONSULT www.goldenshare.ca OR CONTACT:

Golden Share Mining Corporation
Nick Zeng, President & CEO
Tel: (905) 968-1199
E-mail: info@goldenshare.ca