New Dawn Mining Corp. - Minimum Requirements for Indigenisation Implementation Plans Issued by Zimbabwe Government

TORONTO, March 28 /CNW/ --
TORONTO, March 28 /CNW/ - New Dawn Mining Corp. (TSX: ND) ('New Dawn' or the 'Company'), a Zimbabwe-focused gold mining company, reports the gazetting, on March
25, 2011, of Minimum Requirements for Indigenisation Implementation
Plans Submitted by Non-indigenous Businesses in the Mining Sector
relating to Zimbabwe's Indigenisation and Economic Empowerment Act and
Regulations.

As previously reported, the Indigenisation and Economic Empowerment Act
(the 'Act') was signed into law on March 9, 2008, and the related
Regulations were gazetted as Statutory Instrument 21 of 2010 issued on
January 29, 2010.  These Regulations provided for non-indigenous
companies operating in Zimbabwe to arrange for 51% of their shares or
interests therein to be owned by indigenous Zimbabweans within five
years, subject to an analysis based on information that was to be filed
with the Minister of Youth Development, Indigenisation and Empowerment
(the 'Minister').  Each of New Dawn's Zimbabwe operating subsidiaries,
namely Casmyn Mining Zimbabwe (Private) Limited, Falcon Gold Zimbabwe
Limited and Olympus Mines Limited, is a non-indigenous company for
purposes of the Act, and filed the required information with the
Minister within the designated timeframe.

The Minimum Requirements gazetted on March 25, 2011 stipulate that each
non-indigenous mining company must submit an indigenisation plan within
45 days thereafter and dispose of 51%, less any percentage previously
indigenised to qualified indigenous Zimbabwean companies or investors,
of its shares to a 'designated entity' within six months thereafter,
which may, in certain circumstances, be extended by a further period of
no more than three months.  The announcement defines a 'designated
entity' as any one of several specified state owned or controlled
entities or an employee share ownership scheme.  The value of the
shares to be transferred to a designated entity will be calculated on
the basis of a valuation agreed by the Minister and the non-indigenous
mining company, and will take into account Zimbabwe's sovereign
ownership of the minerals exploited or proposed to be exploited by the
non-indigenous mining company.

New Dawn is reviewing these new regulations in order to understand their
potential impact on the Company's Zimbabwe-focused mining operations
and business plans, and will report to shareholders as more information
becomes available.

The TSX has not reviewed and does not accept responsibility for the
adequacy or the accuracy of this release.  Statements in this press
release regarding the Company's business which are not historical facts
are 'forward-looking statements' that involve risks and uncertainties,
such as estimates and statements that describe the Company's future
plans, objectives or goals, including words to the effect that the
Company or management expects a stated condition or result to occur. 
Since forward-looking statements address future events and conditions,
by their very nature, they involve inherent risks and uncertainties. 
Actual results in each case could differ materially from those
currently anticipated in such statements.

Special Note Regarding Forward-Looking Statements:  Certain statements included or incorporated by reference in this news
release, including information as to the future financial or operating
performance of the Company, its subsidiaries and its projects,
constitute forward-looking statements.  The words 'believe,' 'expect,'
'anticipate,' 'contemplate,' 'target,' 'plan,' 'intends,' 'continue,'
'budget,' 'estimate,' 'may,' 'schedule' and similar expressions
identify forward-looking statements.  Forward-looking statements
include, among other things, statements regarding targets, estimates
and assumptions in respect of gold production and prices, operating
costs, results and capital expenditures, mineral reserves and mineral
resources and anticipated grades and recovery rates.  Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by the Company, are
inherently subject to significant business, economic, competitive,
political and social uncertainties and contingencies.  Many factors
could cause the Company's actual results to differ materially from
those expressed or implied in any forward-looking statements made by,
or on behalf of, the Company.  Such factors include, among others,
risks relating to reserve and resource estimates, gold prices,
exploration, development and operating risks, political and foreign
risk, uninsurable risks, competition, limited mining operations,
production risks, environmental regulation and liability, government
regulation, currency fluctuations, recent losses and write-downs and
dependence on key employees.  See 'Risk Factors' in the Company's
Annual Information Form - 2009.  Due to risks and uncertainties,
including the risks and uncertainties identified above, actual events
may differ materially from current expectations.  Investors are
cautioned that forward-looking statements are not guarantees of future
performance and, accordingly, investors are cautioned not to put undue
reliance on forward-looking statements due to the inherent uncertainty
therein.  Forward-looking statements are made as of the date of this
press release and the Company disclaims any intent or obligation to
update publicly such forward-looking statements, whether as a result of
new information, future events or results or otherwise.

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/March2011/28/c6925.html

Investor Relations Contact:  Richard Buzbuzian 1 416.585.7890

President and Chief Executive Officer:  Ian R. Saunders 1 416.585.7890

Visit us on the internet:  http://www.newdawnmining.com, or

E-mail us at:  info@newdawnmining.com