GOLDEN DAWN MINERALS INC. - CLOSING OF PRIVATE PLACEMENT

TSX-V: GOM
FRANKFURT EXCHANGE: 3G8

VANCOUVER, Dec. 9 /CNW/ - GOLDEN DAWN MINERALS INC. (the "Company") is pleased to announce it has now completed a private placement with a subscription of 3,862,500 flow through units (the "Units") of the Company at a price of $0.08 per Unit for total proceeds of $309,000. Each Unit will comprise one flow through common share and one half of a transferable common share purchase warrant. Each whole transferable common share purchase warrant is exercisable for one additional non flow through common share at $0.12 per share in the first year and $0.15 per share in the second year from the date of issuance. Mr Frank Wright, a director of the Company, subscribed to 62,500 units and his participation would be considered a "related party transaction" as defined under Multilateral Instrument 61-101. The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any shares issued to or the consideration paid by such person will exceed 25% of the Company's market capitalization.

All of the shares, warrants and any shares issued upon exercise of the warrants comprising the units are subject to a hold period and may not be traded in British Columbia until April 10, 2011 except as permitted by the applicable Securities Acts and the Rules made there under and the TSX Venture Exchange.

The Company will use the proceeds towards a drilling program on its Greenwood properties and the Wild Rose property in British Columbia.

ON BEHALF OF THE BOARD OF DIRECTORS OF
GOLDEN DAWN MINERALS INC.

"Wolf Wiese"
_____________________________
Wolf Wiese
President/CEO

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.

SOURCE Golden Dawn Minerals Inc.

For further information: For further information:

GOLDEN DAWN MINERALS INC.
575 1111 WEST HASTINGS STREET,
VANCOUVER, BC, V6E 2J3
Telephone: (604) 221-8936
Facsimile: (604) 685-2360

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Golden Dawn Minerals Inc.

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