VANCOUVER, March 28 /CNW/ - Golden Dawn Minerals Inc. TSX-V: GOM (the
"Company") announces that the Company and Stealth Minerals Limited ("Stealth")
have amended the Toodoggone Swan Option Agreement (the "Swan Agreement")
entered into on December 8, 2006, subject to TSX Venture Exchange approval.
David Dobson reports that the Company wishes to enter into an amendment
agreement in respect of certain mining claims located in the Province of
British Columbia, commonly referred to as the "SWAN" Property dated
December 8, 2006, as amended May 28, 2007, between the Company and Stealth
Pursuant to this amendment;
(i) the Company will issue 800,000 common shares of the Company (the
"Option Shares") to Stealth in lieu of the Company's current
obligation to pay Stealth $275,000, issue Stealth 600,000 common
shares and incur $750,000 in property expenditures, in order to
acquire its 51% undivided interest in and to the Property; and;
(ii) acquire Stealth's remaining 49% undivided interest in and to the
Property in exchange for a 2% net smelter royalty return (the
"NSR") on the Property in favour of Stealth. The Company can re-
purchase one-half of the NSR (being 1% NSR) from Stealth in
consideration for a cash payment of $1,000,000
The Swan property is located in the Toodoggone region of northwest
British Columbia approximately 40 km north of Northgate Minerals' Kemmess
Mine. The Company completed an exploration program in 2007 with an updated NI
43-101 report, found at www.goldendawnminerals.com. The parties believe that
this amendment brings mutually beneficial value to both Stealth Minerals Ltd.
and Golden Dawn Minerals Inc.
On Behalf of the Board of Directors,
Golden Dawn Minerals Inc.
THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL
RESPONSIBILITY FOR ITS CONTENTS. THE TSX VENTURE EXCHANGE NEITHER APPROVES NOR
DISAPPROVES OF THIS PRESS 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.
For further information:
For further information: GOLDEN DAWN MINERALS INC., 3929 WEST 30 AVENUE,
VANCOUVER, BC, V6S 1X2, Telephone: (604) 221-8936, Facsimile: (604) 221-8932