Golden Dawn Announces Private Placement

VANCOUVER, BC--(Marketwired - May 17, 2017) - Golden Dawn Minerals Inc. (TSX VENTURE: GOM) (FRANKFURT: 3G8A) (OTC PINK: GDMRF) (the "Company" or "Golden Dawn") announces that the Company intends to raise up to $2,345,000 by way of a non-brokered private placement (the "Offering") of flow-through units ("FT Units") of the Company at a price of $0.335 per FT Unit. As per news release dated May 11, 2017, $1,649,062 of the private placement has been subscribed to. The Offering is subject to TSX Venture Exchange ("TSXV") final acceptance.

The Offering

The maximum Offering is 7,000,000 Units for gross proceeds of $2,345,000. Each Unit will consist of one flow-through common share and one half of one transferable common share purchase warrant (the "Warrants"). Each whole warrant will be exercisable into one common share for a period of two years at a price of $0.40/share.

A finder's fee of cash, common shares or warrants, or a combination thereof, may be paid to eligible finders with respect to any portion of the Offering.

The proceeds of the offering will be utilized for continuation of the company's surface and underground drilling program on the Greenwood Precious Metals Project. Specifically, to explore for a potential increase of the current resources on the Golden Crown Mine and further exploration drilling on the May-Mac Mine.

The securities issued in connection with the offering will be subject to a hold period expiring four months and one day from the date of issuance of such securities.

On behalf of the Board of Directors:
GOLDEN DAWN MINERALS INC.

Wolf Wiese
Chief Executive Officer

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.