Golden Dawn Minerals Inc. Receives Airborne Geophysics Results, Phoenix Drill Targets Now Being Identified

"The contractor, Geotech Ltd., reports that numerous geophysical anomalies have been identified across the survey area, including conductive zones that do not correlate with magnetic lineaments. These features indicate multiple high priority targets not previously recognized and possibly mineralized. With drill permits now in place, incorporating this new data will finalize plans for the October drill program." States: Mr. Christopher R Anderson CEO

Map of the Greenwood Precious Metal Project properties.

The results have been received for the 2021 helicopter-borne VTEM™ (versatile time-domain electromagnetic system) and combined magnetic survey over the historic Phoenix mine and surrounding areas, including the Golden Crown, Lexington and Tam O'Shanter properties, which all contain defined gold resources.

Map showing flight lines for 2021 survey areas.

Golden Dawn will now begin to review the results and select targets for follow-up ground surveys and surface drilling. The main thrust of the exploration program is targeting a major copper-gold skarn deposit and/or an intrusion-related porphyry-type copper-gold deposit that could be the roots of the world-class Phoenix copper-gold skarn deposit. The Phoenix deposit is interpreted to be the upper part of a large copper-gold system that has been displaced westward from its roots by the Snowshoe fault.

Survey results for the Golden Crown, Lexington and Tam O'Shanter properties will be used to guide exploration for extensions of these deposits. The Golden Crown deposit consists of a series of parallel sulphide-rich gold-copper veins and gold soil anomalies that stretch over 3.5 km by 1 km area. The Lexington deposit consists of sulphide-rich gold-copper veins concentrated within the No. 7 Fault zone, which is a district-scale, early-stage (Jurassic?) thrust fault. There is over 5 km of strike length containing gold-copper mineralization and geochemical anomalies to explore along the No. 7 fault zone on the Lexington property. The Tam O'Shanter property covers the Deadwood deposit, which consists of sub-parallel quartz veins in a wide zone of intense shearing and alteration along a 1 km strike length of the Wild Rose Fault, which is also an early-stage thrust fault.

Readers are cautioned that historical records referred to in this News Release have been examined but not verified by a Qualified Person. Further work is required to verify that historical records referred to in this News Release are accurate.

Technical disclosure in this news release has been approved by Dr. Mathew Ball, P.Geo., President of the Company and a Qualified Person as defined by National Instrument 43-101,

For more details, please see the most recent National Instrument 43-101 Technical Report on the Company's website at www.goldendawnminerals.com.

On behalf of the Board of Directors:

Golden Dawn Minerals Inc.

Per: "Christopher R. Anderson"
Christopher R. Anderson CEO
For further information, please contact:
Golden Dawn Minerals Inc. - Corporate Communications: Tel: 604-221-8936
Email: Office@goldendawnminerals.com

Forward-Looking Statement Cautions: This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to, among other things, preliminary plans for a consolidation of the Company's Shares. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the possibility that the TSX Venture Exchange will not approve the proposed share consolidation, and that the Company may not be able to raise sufficient additional capital to continue its business. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects. This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The Company's securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

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SOURCE: Golden Dawn Minerals Inc.