FRANKFURT EXCHANGE: 3G8
VANCOUVER, July 9 /CNW/ - Golden Dawn Minerals Inc (the "Company")
(TSX-V:GOM) has signed a Letter of Intent to acquire a 100% interest in
6891667 Canada Inc, a private company. Consideration for the acquisition is
7,000,000 shares and 3,000,000 share purchase warrants of the Company. One
warrant and $0.45 in cash enables the purchase of one share for twelve (12)
months from closing. In addition, 6891667 Canada Inc. has the right to select
a director to sit on the board of Golden Dawn Minerals. The acquisition is
subject to approval by the TSX Venture Exchange
The assets of 6891667 Canada Inc consist of:
(a) An option to earn a 100% undivided interest in, and to,
three (3) iron ore mineral property claims located in the Sault Ste.
Marie mining district of Ontario
(b) a minimum of $910,000 in cash.
6891667 Canada Inc. is responsible for providing to the Company the
(a) Audited financial statements for the period ended June 30, 2008;
(b) A National Instrument 43-101 compliant Technical Report on the
(c) Executed voluntary pooling agreements from each of the 6891667 Canada
Inc shareholders with respect to the Shares issued.
(d) Details with respect to any financial or other liabilities of
6891667 Canada Inc to any parties and encumbrances on the property
other than the net smelter return royalty.
About the Iron Ore property
The property is located in Shields and Deroche Townships in the Algoma
iron ore district of Ontario. Exploration work to date consists of blasting
and stripping and some pits, which have exposed a sub-vertical iron formation
(banded magnetite) over a strike length of greater than three (3) kilometres
with widths up to 70 metres. No drilling or mining has occurred on the
property. The property has not been subject to exploration since the 1960s. As
noted, the Company will receive a NI 43-101 compliant Technical Report that
will provide guidance with respect to future exploration.
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;
Corporate Communications: Jaime Ashmore, Telephone: (778) 395-8384,