Golden Dawn Minerals Inc. Closes $967,610 Private Placement Financing



    TSX-V: GOM

    VANCOUVER, Oct. 22 /CNW/ - Golden Dawn Minerals Inc. (TSX-V: GOM) (the
"Company") is pleased to announce that further to its news release of
September 28, 2007, it has now completed its non-brokered private placement
and accordingly has issued 1,531,250 flow-through units (the "FT Units") of
the Company at a price of $0.40 per FT Unit and 1,014,600 non-flow-through
units (the "NFT Units") of the Company at a price of $0.35 per NFT Unit for
gross proceeds to the Company of $967,610.00.
    Aberdeen Gould Inc. and MGI Securities Inc. acted as finders with respect
to this financing. As consideration for its participation in the offering, the
finders received a cash commission equal to 7% of the total proceeds raised
($67,732) and were issued compensation options equal to 10% of the total
number of FT Units and NFT Units sold. As previously disclosed (refer to
September 28, 2008 news release), each compensation option issued in
connection with the FT Units sold (153,125 compensation options) is
exercisable into one unit at a price of $0.40 per unit and each compensation
option issued in connection with the NFT Units (101,460 compensation options)
sold is exercisable into one unit at a price of $0.35 per unit.
    All of the securities issued pursuant to this private placement are
subject to a four month hold period. The hold period for 731,250 FT Units,
586,000 NFT Units and the corresponding compensation options expires on
February 6, 2008. The hold period for 800,000 FT Units, 428,600 NFT Units and
the corresponding compensation options expires on February 20, 2008.

    Golden Dawn Minerals Inc. is a junior exploration company with a
portfolio of properties prospective for precious and base metals located in
British Columbia's Toodogone Region and Ontario, Canada. Golden Dawn's
strategy is to apply modern technologies, advancing each property's potential
with a longer range view of marketing the property to major mining companies.

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

    "David Dobson"
    -----------------------------
    David Dobson
    President & Director

    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.





For further information:

For further information: Golden Dawn Minerals Inc., 3929 West 30th
Avenue, Vancouver, BC, Canada, V6S 1X2, P. (604) 221-8936, F. (604) 221-8932

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Golden Dawn Minerals Inc.

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