MOVIT Closes $150,200 Private Placement

VANCOUVER, BC—(Marketwired – June 02, 2017) – MOVIT Media Corp. (TSX VENTURE: MV) (the “Company”) wishes to announce that, further to its news release of May 17, 2017, it has received final approval from the TSX Venture Exchange and closed a non–brokered private placement (the “Offering”). The Company has issued 1,877,500 units (the “Placement Units”) at a price of $0.08 per Placement Unit for gross proceeds of $150,200. Each Placement Unit consists of one common share and one share purchase warrant. Each share purchase warrant is exercisable into one common share at an exercise price of $0.10 per common share for a period of 24 months.

The Company now has 7,826,116 common shares issued and outstanding.

A director of the Company subscribed for 156,250 Placement Units, for gross proceeds of $12,500. The Company has relied on exemptions under Multilateral Instrument 61–101 to dispense with formal valuation and minority shareholder approval requirements. This portion of the Offering has been approved by the independent directors of the Company.

In accordance with applicable securities legislation, securities issued pursuant to the Offering are subject to a hold period of four months plus one day from the date of closing.

Proceeds from the Offering will be used for working capital purposes.

ON BEHALF OF THE BOARD

“Stephen D. Inouye”
CEO/CFO

Forward Looking Statements

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 the release.

Golden Dawn Announces Closing of Final Tranche of Private Placement for $115,399

VANCOUVER, BC—(Marketwired – June 02, 2017) – Golden Dawn Minerals Inc., (TSX VENTURE: GOM) (FRANKFURT: 3G8A) (OTC PINK: GDMRF) (the “Company” or “Golden Dawn“) reports that the Company has closed the final tranche of a previously announced non–brokered private placement financing totalling 5,267,050 flow–through units (the “FT Units“) at $0.335 per FT Unit with a one–half warrant exercisable for two years, for total proceeds of $1,764,461.75 in both tranches. Each whole FT warrant can be exercised at $0.40 per share for a period of 24 months from the date of issuance.

Total commissions paid to eligible finders with respect to this financing consisted of $131,925 cash, 196,902 common shares and 196,902 commission warrants paid to EMD Financial Inc. The commission warrants are non–transferable and have the same terms as warrants issued in the financing. All securities issued in connection with the financing are subject to a statutory hold period of 4 months and one day from issuance.

The funds will be utilized for continuation of the company's surface and underground drilling program on the Greenwood Precious Metals Project.

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.

Niagara Mohawk Power Corporation Declares Preferred Stock Dividends

SYRACUSE, NY—(Marketwired – June 02, 2017) – Niagara Mohawk Power Corp. (the “Company”), an indirect subsidiary of National Grid USA (“National Grid”), announced that its Board of Directors has declared dividends for the period Apr. 1, 2017 to June 30, 2017 at the following rates for all outstanding series of its preferred stock:

  • .85% on the $100 par value, 3.40% Series;
  • .90% on the $100 par value, 3.60% Series;
  • .975% on the $100 par value, 3.90% Series.

The preferred stock dividends are payable on June 30, 2017, to holders of record on June 16, 2017.

The Company, doing business as National Grid, provides electricity service to approximately 1.6 million customers and natural gas service to approximately 565,000 customers in upstate New York. The Company is based in Syracuse, N.Y.

National Grid is an indirect subsidiary of National Grid plc (LSE: NG) (NYSE: NGG). National Grid delivers electricity to approximately 3.3 million customers in Massachusetts, New York, and Rhode Island. It is the largest distributor of natural gas in the northeastern U.S., serving approximately 3.4 million customers in Massachusetts, New York, and Rhode Island.

TriMetals Mining Announces Closing of $3.5 Million Private Placement

VANCOUVER, BC—(Marketwired – June 02, 2017) –

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

TriMetals Mining Inc. (TSX: TMI) (OTCQX: TMIAF) (the “Company” or “TMI“) is pleased to announce that it has closed its previously announced brokered private placement of 14,600,000 units of the Company (the “Units“) at a price of $0.24 per Unit (the “Offering“) for gross proceeds to the Company of $3.5 million. Each Unit consists of one common share of the Company (a “Common Share“) and one–half of one Common Share purchase warrant of the Company (each whole Common Share purchase warrant, a “Warrant“). Each Warrant entitles the holder to purchase one Common Share at a price of $0.30 for a period of 30 months.

A syndicate of agents led by BMO Capital Markets and including PI Financial Corp. and GMP Securities L.P. (collectively, the “Agents“) acted as agents in connection with the Offering.

The Agents have been granted an option, exercisable in whole or in part for a period of 14 days from the date hereof, to arrange for the purchase of up to an additional $1,500,000 of Units.

The Corporation intends to use the net proceeds from the Offering of $3,048,000 for the continued exploration and resource expansion at the Gold Springs gold–silver project and for general corporate purposes.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About TriMetals Mining Inc.

TriMetals Mining Inc. is a growth focused mineral exploration company creating value through the exploration and development of the near surface, Gold Springs gold–silver project in mining friendly Nevada and Utah in the U.S.A.

The Company's approach to business combines the team's track record of discovery and advancement of large projects, key operational and process expertise, and a focus on community relations and sustainable development. Management has extensive experience in the global exploration and mining industry.

The Company's common shares and Class B shares are listed on the Toronto Stock Exchange under the symbols “TMI” and “TMI.B” and the common shares and Class B shares also trade on the OTCQX market under the symbol “TMIAF” and “TMIBF”. Note that the Class B shares have no interest in the properties or assets of the Company other than a collective entitlement to 85% of the net cash, if any, (after deducting all costs, taxes and expenses and the third–party funder's portion thereof) received by TMI from award or settlement in relation to the Company's subsidiary South American Silver Limited's arbitration proceeding against Bolivia for the expropriation of the Malku Khota project in 2012. Additional information related to TriMetals Mining Inc. is available at www.trimetalsmining.com and on SEDAR at www.sedar.com.

Forward–Looking Statements

Certain statements contained herein constitute “forward–looking statements”. Forward–looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward–looking statements may include words such as “intends”, “continue”, “creating”, and similar expressions. These forward– looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward–looking statements, include, but are not limited to, the outcome of the international arbitration process, including the timing and the quantum of damages to be obtained, management's expectation with regard to the final amount of costs, fees and other expenses and commitments payable in connection with the arbitration, and any inability or delay in the collection of the value of any award or settlement; and risks of the mineral exploration industry which may affect the advancement of the Gold Springs or Escalones projects, including possible variations in mineral resources or grade, recovery rates, metal prices, availability of sufficient financing to fund further required work in a timely manner and on acceptable terms, availability of equipment and qualified personnel, failure of equipment or processes to operate as anticipated, changes in project parameters as plans continue to be refined; and other risks more fully described in the Company's Annual Information Form filed and publicly available on SEDAR at www.sedar.com. The assumptions made in developing the forward–looking statements include: the ability of the Company to realize value from its investments in Bolivia; the arbitration proceeding in a customary manner and in accordance with Procedural Order No. 1 (as amended in April and June 2015 and in January 2016) and the third party funder honouring its contractual commitments, the accuracy of current resource estimates and the interpretation of drill, metallurgical testing and other exploration results; the continuing support for mining by local governments in Nevada, Utah and Chile, the availability of equipment and qualified personnel to advance the Gold Springs project; and the execution of the Company's existing plans and further exploration and development programs for the Gold Springs Project, which may change due to changes in the views of the Company or if new information arises which makes it prudent to change such plans or programs.

Readers are cautioned not to place undue reliance on the forward–looking statements contained in this news release. Except as required by law, the Company assumes no obligation to update or revise any forward–looking statement, whether as a result of new information, future events or any other reason. Unless otherwise indicated, forward–looking statements in this news release describe the Company's expectations as of June 2, 2017.

The TSX has not approved or disapproved of the contents of this news release.

Golden Leaf Announces Closing of C$35 Million Subscription Receipt Financing

TORONTO, ON—(Marketwired – June 02, 2017) – Golden Leaf Holdings Ltd. (“GLH” or the “Company”) (CSE: GLH) (CSE: GLH.CN) (CNSX: GLH) (OTCQB: GLDFF), a leading cannabis oil solutions company built around recognized brands, is pleased to announce the closing of its previously announced best efforts private placement offering (the “Offering”) of subscription receipts (the “Subscription Receipts”). Pursuant to the Offering, the Company has sold 125,892,857 Subscription Receipts, at a price of C$0.28 per Subscription Receipt (the “Issue Price”), for aggregate gross proceeds of C$35,249,999.96 million.

Canaccord Genuity Corp. acted as the lead agent for a syndicate of agents (the “Agents”) including Echelon Wealth Partners Inc. and Mackie Research Capital Corporation. AC Group Financial Inc. acted as an advisor to the Company in connection with the Offering and the four previously announced acquisitions being undertaken by the Company.

The Subscription Receipts were issued pursuant to a subscription receipt agreement (the “Subscription Receipt Agreement”) among the Company, Canaccord Genuity Corp. and TSX Trust Company, as subscription receipt agent. Pursuant to the Subscription Receipt Agreement, the gross proceeds from the Offering (less 50% of the Agents' cash commission and all of the Agents' estimated expenses) (the “Escrowed Funds”) have been placed in escrow pending satisfaction of certain escrow release conditions (the “Escrow Release Conditions”), which include (i) signing of the definitive agreement (the “Definitive Agreement”) regarding the acquisition of Chalice LLC (the “Acquisition”); (ii) all conditions precedent to the completion of the Acquisition shall have been satisfied; (iii) the Common Shares issuable pursuant to the Offering being listed on the Canadian Securities Exchange; (iv) the receipt of all necessary regulatory, shareholder and third–party approvals, if any, in connection with the Acquisition; and (iv) the Company shall not be in breach or default of any of its covenants or obligations under the Subscription Receipt Agreement or the agency agreement entered into with the Agents in connection with the Offering (the “Agency Agreement”). Upon satisfaction of the Escrow Release Conditions, the Escrowed Funds, together with any interest earned thereon, will be released to the Company and each Subscription Receipt shall be automatically exchanged, without any further consideration or action by the holder thereof, for one common share in the capital of the Company (each, a “Common Share”) and one–half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant will be exercisable to acquire one common share of the Company (each, a “Warrant Share”) at a price of $0.37 per Warrant Share, until June 2, 2019, subject to adjustment in certain events.

The net proceeds from the Offering are anticipated to be used to satisfy the cash component of the purchase price for the Acquisition, as well as to fund the Company's other recently announced acquisitions and for existing operations. If the Escrow Release Conditions have not been satisfied by September 30, 2017 (the “Escrow Deadline”), the Subscription Receipts will be deemed to be cancelled and holders of Subscription Receipts will receive a cash amount equal to the offering price of the Subscription Receipts. Any shortfall will be funded by the Company.

As consideration for the services provided by the Agents in connection with the Offering, the Agents received a cash commission of C$2,467,500, 50% of which was paid on closing of the Offering and the other 50% of which will be payable upon satisfaction of the Escrow Release Conditions. As additional consideration, the Agents were granted 8,812,500 compensation warrants (the “Compensation Warrants”). Each Compensation Warrant entitles the holder thereof to acquire one Common Share and one–half of one Warrant at the Issue Price until June 2, 2019. In the event that the Escrow Release Conditions are not satisfied or waived by the Escrow Deadline, (i) the balance of the unpaid commission will not be paid, and (ii) the Compensation Warrants shall automatically terminate.

All securities issued pursuant to the Offering are subject to a statutory hold period of four months and one day, expiring on October 3, 2017.

Pursuant to the terms of the Agency Agreement, the Company is also proposing to issue and sell, on a brokered, private placement basis, in one or more closings (the “Unit Offering”), up to C$5,000,000 of units of the Company (the “Units”), each Unit to be comprised of one Common Share and one–half of one Warrant. The first closing under the Unit Offering is expected to occur in the next few weeks. The net proceeds of the Unit Offering will also be used to fund the Company's other recently announced acquisitions and for existing operations. The Unit Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals.

About Golden Leaf Holdings:

Golden Leaf Holdings Ltd. is one of the largest cannabis oil and solution providers in North America. It's a leading cannabis products company in Oregon built around recognized brands. GLH leverages a strong management team with cannabis and food industry experience to complement its expertise in extracting, refining and selling cannabis oil.

Disclaimer: This press release contains “forward–looking information” within the meaning of applicable securities legislation. Forward–looking information includes, but is not limited to, statements with respect to the Company's future business operation, expectations of gross sales, the opinions or beliefs of management and future business goals, statements regarding the timing and completion of the proposed Acquisition and the Unit Offering, the use of the net proceeds of the Offering, the satisfaction of the Escrow Release Condition and management's expectations with respect to the Offering and the Acquisition. Generally, forward looking information can be identified by the use of forward–looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward–looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward–looking information, including but not limited to general business, economic and competitive uncertainties, regulatory risks including risks related to the expected timing of the Company's participation in the Adult Use market, market risks, risks inherent in manufacturing operations and other risks of the cannabis industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward–looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. Forward–looking information is provided herein for the purpose of presenting information about management's current expectations relating to the future and readers are cautioned that such information may not be appropriate for other purpose. The Company does not undertake to update any forward–looking information, except in accordance with applicable securities laws. This Release does not constitute an offer of securities for sale in the United States, and such securities may not be offered or sold in the United States absent registration or an exemption from registration.

Brio Gold Announces Completion of C$80,001,000 Secondary Offering

TORONTO, ON—(Marketwired – June 02, 2017) – BRIO GOLD INC. (“BRIO GOLD” or the “Company”) (TSX: BRIO) is pleased to announce the successful closing of the previously announced secondary offering (the “Offering”) of common shares of the Company (the “Shares”) at a price of C$3.00 per Share. Yamana Gold Inc. (the “Selling Shareholder”) sold an aggregate of 26,667,000 Shares for total gross proceeds of C$80,001,000 to a syndicate of underwriters, led by Canaccord Genuity Corp., CIBC World Markets Inc. and National Bank Financial Inc., on a bought deal basis. The Company did not receive any proceeds from the Offering.

Following closing of the Offering, the Selling Shareholder has beneficial ownership and control over 62,535,922 Shares, representing approximately 55.6% of the outstanding Shares.

This press release is not an offer of securities for sale in the United States. The Shares being offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Act”) and accordingly are not being offered for sale and may not be offered, sold or delivered, directly or indirectly within the United States, its possessions and other areas subject to its jurisdiction or to, or for the account, or for the benefit, of a U.S. person, unless registered under that Act or pursuant to an exemption from the registration requirements of that Act.

About Brio Gold

Brio Gold is a new Canadian mining company with significant gold producing, development and exploration stage properties in Brazil. Brio Gold's portfolio includes three operating mines and a gold project, which is a fully–permitted, fully–constructed mine that is currently on care and maintenance and is expected to be re–started in 2018. Brio Gold produced 189,662 ounces of gold in 2016 and at full annual run–rate expects annual production to be approximately 400,000 ounces of gold.

CAUTIONARY NOTE REGARDING FORWARD–LOOKING STATEMENTS: This news release contains “forward–looking statements”, within the meaning of applicable Canadian securities legislation, concerning the business and operations of Brio Gold Inc. and its consolidated subsidiaries (collectively, “Brio” or the “Company”). All statements, other than statements of historical fact, are forward–looking statements. Generally, forward–looking statements can be identified by the use of forward–looking terminology such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof. Forward–looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, performance or achievements of Brio Gold to be materially different from those expressed or implied by such forward–looking statements. Certain of these factors are discussed in greater detail in Brio Gold's most recent Annual Information Form on file with the Canadian provincial securities regulatory authorities and available at www.sedar.com. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward–looking statements. In addition, although Brio Gold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward–looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as 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. Forward–looking statements are made as of the date hereof and accordingly are subject to change after such date. Forward–looking statements are provided for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of our operating environment. Brio does not undertake to update any forward–looking statements that are included in this document, except in accordance with applicable securities laws.

5 Tips to Avoid Binge-Watching Guilt

MISSION, KS—(Marketwired – Jun 2, 2017) –  (Family Features) Dozens of streaming video providers are making it easier than ever to watch the TV programming you want when you want it, and exclusive programming released an entire season at a time is transforming the way Americans watch TV. The flip side of this convenience is a surge in binge–watching, which can have some negative side effects, including binge eating. When your favorite show is available back–to–back, it's easy to let substantial blocks of time get away as you watch “just one more” episode to follow the twists and turns of the plot. In fact, according to a recent survey by Dole, the average binge–watching session clocks in around 5 hours. The same survey found that more than two–thirds of people prefer healthy snacks to fuel their marathon viewing.

Treating yourself to an occasional binge session may give your brain a well–earned break, and it's easy to do many forms of exercise in front of the screen. The trick to keeping your binge–watching session in check and getting rid of the guilt is to exercise good habits when you head to the kitchen.

1. Opt for snacks that include valuable vitamins and minerals.

2. Keep your kitchen stocked with ingredients such as high quality, ready–to–eat Dole Jarred Fruit so you can create quick and easy snacks with a serving of fruit in between episodes or during a commercial break.

3. Look for quick solutions that help trim prep time and skip the cutting, peeling and mess.

4. Avoid waste or spoilage with convenient, re–sealable lids that let you use what you need for a single serving and save the rest for later.

5. Get creative to satisfy cravings. Instead of reaching for cookies or cake, dip fruit in melted chocolate and pop it in the freezer. Let it sit while you watch a few episodes of your favorite show and then enjoy.

Find more quick and easy snacks that can be made during a commercial break at dolesunshine.com.

Fruity Flatbread

  Pre–made flatbread crust
  Broccoli rabe
  Cooked and chopped turkey bacon
  Dole Jarred Mandarin Oranges

Cover flatbread with chopped broccoli rabe, turkey bacon and oranges.

Peach Parfaits

  Low–fat yogurt
  Granola
  Dole Jarred Sliced Peaches
  Mint

In cup or jar, alternate layering yogurt, granola and chopped peaches. Top with mint and serve immediately.

Brightened Up Caprese Salad

  Fresh mozzarella cheese
  Dole Jarred Sliced Peaches
  Fresh basil
  Salt, to taste
  Pepper, to taste
  Balsamic glaze

Arrange alternate slices of mozzarella and peaches. Sprinkle fresh basil, season with salt and pepper, to taste, and drizzle with balsamic glaze.

Avocado Toast

  Avocado 
  Whole–wheat bread
  Dole Jarred Sliced Peaches
  Salt
  Pepper
  Crushed red pepper flakes

Slice avocado in half, remove pit and scoop out avocado into bowl. Smash until desired consistency.

Toast bread, layer with avocado and top with peaches. Season with salt, pepper and crushed red pepper flakes.

1–2–3 Chicken Wrap

  Whole–wheat tortilla
  Spinach
  Dole Jarred Mandarin Oranges
  Cooked chicken, chopped
  Yogurt–based dressing of choice

Lay tortilla flat and add spinach, oranges and chicken. Top with dressing. Fold, cut and serve.
Substitution: Preferred greens can be added in place of or in addition to spinach

Tropical Fruit Salsa

  Dole Jarred Tropical Fruit
1 white onion
1 bunch cilantro
1 jalapeno
1 lime, juiced
  Tortilla chips

Chop 2 cups fruit, dice onion, chop cilantro and seed and mince jalapeno.
Combine ingredients and stir in lime juice. Serve alongside tortilla chips.

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Golden Dawn Announces LOI to Acquire the Copper-Gold Lone Star Property

VANCOUVER, BC—(Marketwired – June 02, 2017) – Wolf Wiese, CEO of Golden Dawn Minerals Inc., (TSX VENTURE: GOM) (FRANKFURT: 3G8A) (OTC PINK: GDMRF) (the “Company” or “Golden Dawn“) announces that the Company has signed a non–binding LOI with Advanced Mineral Technology Inc. (the “Vendor”), who owns 100% of the issued and outstanding common shares of BGP Resources Inc. (“BGP” and the “BGP Shares”).

Golden Dawn is acquiring the Lone Star Property through the acquisition of BGP Resources Ltd., a private Washington State corporation which holds 100% interest in the Lone Star Property subject to a 2.5% NSR. In consideration and subject to Regulatory Approval, the Company will pay the Vendor $200,000 in cash and $200,000 in common shares at a price to be determined by the average trading price of the Company's common shares on the TSX Venture Exchange prior to the announcement of the Letter of Intent.

The Lone Star Property is contiguous to the Company's Greenwood Precious Metals Project located in the Greenwood Mining District, 500 km east of Vancouver, B.C. on Highway #3. The Company's 100% owned processing facility is 17 km to the north of Lone Star. The 234 hectare Lone Star copper–gold property, composed of a series of patented lode claims and private mineral claims in northern Washington State, lies adjacent to the southern boundary of Golden Dawn's advanced stage Lexington Property.

View map at: http://www.goldendawnminerals.com/wp–content/uploads/2017/06/Lonestar_map.jpg

The geology, both in rock types and structure, as well as the accompanying gold–copper mineralization on the Lexington Property continues south onto the Lone Star Property, forming a 3 kilometre long prospective exploration trend of past producing gold–copper mines and prospects, including Lexington–Grenoble, Lexington, No. 7 and Lone Star Mines. The past producing Lone Star Mine operated over two time periods; from 1897–1918 producing 146,540 tonnes, and from 1977–1978 by Granby Mining Co. where they trucked over 400,000 tonnes from the Lone Star open pit to its Phoenix mill.

Numerous exploration companies saw additional copper–gold potential on the property, post–Granby. Exploration across the Lone Star Property to date includes 252 diamond and percussion drill holes for a total of 23,702 metres of drilling. Most recently, in 2006, Merit Mining Corp. (Merit) conducted a diamond drilling program adjacent to the Lone Star open pit and interpreted a series of eight shallow to moderately dipping en echelon and overlapping copper–gold zones hosted within a dacitic and minor serpentinite unit, very similar to the Lexington–Grenoble Mine. Zones are composed of sheeted and stockwork pyrite–chalcopyrite veins, veinlets and disseminations carrying gold. Many zones in the Lone Star deposit remain open and untested to fully define their extent.

An historic resource estimate exists for the Lone Star deposit. In 2007, Merit commissioned P&E Mining Consultants Inc. (“P&E”) to prepare an NI 43–101 mineral resource. Three dimensional (3–D) modeling methods and parameters were employed in accordance with principles accepted in Canada. A wireframed geological model was created from drillhole logs and interpretations supplied by Merit and audited and accepted by P&E. Statistical and grade continuity analyses were completed by P&E to characterize the mineralization and subsequently used to develop grade interpolation parameters. Gemcom modeling software was used for establishing the 3–D block model and subsequent grade estimates. Grade capping was used to restrict the influence of statistical outliers during Inverse Distance Squared (1/d2) application of block grades. An interpolated density model was generated by P&E from data measurements collected by Merit. On September 23, 2007, Merit reported a resource estimate as follows:

2007 Lone Star Resource Estimate

(cut–off grade: 1.5% Cu (CuEq) or 5.0 g Au/t equivalent AuEq)

  Classification   Tonnes   Au
(g/t)
  Cu
(%)
  Au Eq
(g/t)
  Cu Eq
(%)
  Au
(oz)
  Cu
(million lbs.)
  Indicated   63,000   1.28   2.30   8.82   2.69   2,600   3.19
  Inferred   682,000   1.46   2.00   8.02   2.44   32,000   30.07

(P&E Mining Consultants Inc.; effective date 23 September, 2007)

  1. Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.
  1. The quantity and grade of reported inferred resources in this estimation are conceptual in nature.
  1. The mineral resources in this estimate were calculated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council December 11, 2005.
  1. Gold equivalent grade (Au Eq) was calculated using a gold price of US$593/oz and copper price of US$2.84/lb., based on the 24 month (at July 31, 2007) trailing average of gold and copper prices, to obtain a conversion factor of % copper x 3.284 + gold g/t = Au Eq g/t. Metallurgical recoveries and smelting/refining costs were not factored into the gold equivalent calculation.
  1. The Cu equivalent cut–off value of 1.5% was calculated and rounded utilizing the following: Cu price US$2.84/lb, $US exchange rate $0.88, process recovery $95%, smelter payable 95%, smelting and refining charges C$7/tonne mined, mining cost C$62/tonne mined, process cost $C28/tonne processed, G&A cost $7.50/tonne processed.

A qualified person has not done sufficient work to classify the historic estimate as current mineral resources or mineral reserves. As such the issuer, Golden Dawn, is not treating this historical estimate as current mineral resources or mineral reserves.

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

On behalf of the Board of Directors:
GOLDEN DAWN MINERALS INC.
“Wolf Wiese”
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.