Golden Dawn To Reactivate Greenwood Mill

VANCOUVER, BC / ACCESSWIRE / August 4, 2021 / Golden Dawn Minerals Inc., (TSXV:GOM)(FRANKFURT:3G8C)(OTC PINK:GDMRD), ("Golden Dawn" or the "Company"), announces that it plans to initiate refurbishment of its mill near Greenwood in southeastern British Columbia.

Greenwood Mill Site

The Company is moving toward renewed operations for its Greenwood Mill. The mill consists of a permitted, modern crushing-grinding-gravity-flotation facility with a process plant rated at 200 tonnes per day capacity, assay laboratory and tailing facilities.

The process equipment has been kept under care and maintenance since December of 2008 and remains in good condition. The facility was built in 2007 and operated for eight months. It processed material from the Lexington-Grenoble Mine, with production of 5,418 ounces gold, 3,196 ounces silver and 861,281 pounds of copper from 53,782 tonnes processed. The plant produced two marketable products: a gravity-gold concentrate and gold-copper concentrate. Both products were trucked from site to Vancouver. The gravity concentrate was refined to dore bars before being sold and the concentrate was marketed to a commodities purchaser.

200 tpd ball mill

Refurbishment of the process plant facility and crushing equipment is required to prepare for operation and processing. The following key items have been identified as required for re-furbishing the existing process facilities:

• Refurbish crusher and plant equipment.
• Upgrade existing electrical and mechanical installations if required.
• Install ancillary first aid room, wash facilities and new offices.
• Complete environmental management plans as required for Mines Act permit.
• Complete application for environment discharge permit (no discharge planned).
• Complete Health and safety audits and implement monitoring programs.
• Staffing.

Once the facility is operational at its current capacity, engineering design works for increasing the tailings facility capacity and for permitting an upgrade of the plant to 400 TPD will be considered. This would involve design and construction of one or more raises to the final tailings dam height and/or possible installation of a dry-stack tailings system, installation of an additional ball mill or a larger capacity mill, and additions to the gravity and flotation circuits.

The Greenwood Process Plant facility is a key component for potential production from surrounding precious metal deposits in southern BC. Potential sources of process material could include gold-copper & silver material from the following:

• Lexington Mine (gold-copper) Golden Dawn GOM.v
• Golden Crown Mine (gold-copper) Golden Dawn GOM.v
• May Mac Mine (silver-gold) Golden Dawn GOM.v
• Deadwood deposits (Golden Dawn GOM.v)
• Kenville mine at Nelson (Ximen Mining Corp. XIM.v )
• Gold Drop property (GGX Gold Corp. GGX.v )
• Lone Star Mine (Belmont Resources BEA.v )

The plant process was proven in 2008 on gold-copper material mined from Golden Dawn's nearby Lexington deposit, and initial metallurgical studies indicate that material from Ximen's Kenville gold mine and Golden Dawn's May Mac silver-gold deposit could be processed at the Greenwood facility with little or no modifications to the process equipment.

Re-opening the Lexington mine will require rehabilitation, pre-production development and initial mining before any gold-copper feed material could be available for processing. The Company is currently evaluating the necessary requirements.

Golden Dawn continues to explore for additional gold-copper deposits and recently completed a property-wide airborne geophysical survey that is expected to result in high quality targets for drilling.

Project Profile

Golden Dawn's Greenwood Gold Process Plant is located in the historic Greenwood Mining Division in south-central British Columbia, Canada, approximately 500 km east of Vancouver. The Company's focus is re-activating the process plant for toll milling of material from surrounding mines. For more information, refer to the company website www.goldendawnminerals.com.

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
Chief Executive Officer

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.

THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL, OR THE SOLICITATION OF AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF SECURITIES OF THE COMPANY IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

SOURCE:Golden Dawn Minerals Inc