VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/29/13 -- Golden Dawn Minerals Inc. (TSX VENTURE: GOM)(FRANKFURT: 3G8N) (the "Company" or "Golden Dawn") has filed on SEDAR a National Instrument 43-101 compliant independent technical report ("Technical Report") related to its press release issued on December 11, 2012 announcing an updated mineral resource estimate for the Greenwood Gold Silver project in south central British Columbia.
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The Technical Report entitled "Technical Report on the Update Resource for the Wild Rose -Tam O'Shanter Property, Greenwood Area, South Central British Columbia", dated January 25, 2013, was prepared for Golden Dawn Minerals Inc. by APEX Geoscience Ltd. ("APEX") The Technical Report is available under the Company's profile on SEDAR at www.sedar.com and on the Company's website at www.goldendawnminerals.com.
Mr. Wolf Wiese, President & CEO of Golden Dawn Minerals commented: "We are extremely pleased with the continued growth of the Deadwood Gold resource. The updated NI 43-101 mineral resource estimate is another important milestone in the advancement of the Greenwood Gold Project as we continue to increase the size and grade of the gold resource. The Deadwood Gold Zone resource remains open in all directions and has been identified as an epithermal system, providing Golden Dawn with ability to delineate drill targets with high probability of increasing gold grades to depth and to further increase the gold resource along strike through 2013."
The updated Inferred Mineral Resource Estimate of 24.5 million tonnes grading 0.53 grams per tonne (g/t) gold (Au), is estimated to contain a total of 415,000 troy ounces of gold at a cut-off grade of 0.3 g/t Au (Table 1). This is an increase of 49% from the previous resource. A sensitivity analysis of the grade and tonnage relationships has been completed and is shown in the accompanying Table 1 below.
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----------------------------------------------------------------------------Table 1 - Inferred Mineral Resource Estimate at various cut off grades for gold.(i)----------------------------------------------------------------------------Lower Cut Off Metric Tonnes Average Gold (ii)Troy Ounces(g/t Au) (t) Grade (g/t) (oz)----------------------------------------------------------------------------0.1 54,511,000 0.35 610,000----------------------------------------------------------------------------0.2 40,233,000 0.42 541,000----------------------------------------------------------------------------0.3 24,483,000 0.53 415,000----------------------------------------------------------------------------0.4 14,692,000 0.65 306,000----------------------------------------------------------------------------0.5 9,137,000 0.77 226,000----------------------------------------------------------------------------0.6 6,020,000 0.89 171,000----------------------------------------------------------------------------0.7 3,650,000 1.04 122,000----------------------------------------------------------------------------0.8 2,515,000 1.18 95,000----------------------------------------------------------------------------0.9 1,863,000 1.3 78,000----------------------------------------------------------------------------1.0 1,635,000 1.34 71,000----------------------------------------------------------------------------1.2 936,000 1.54 46,000----------------------------------------------------------------------------1.4 422,000 1.83 25,000----------------------------------------------------------------------------1.6 251,000 2.07 17,000----------------------------------------------------------------------------(i) Inferred Mineral Resources are not Mineral Reserves. Inferred MineralResources do not have demonstrated economic viability, and may never beconverted into Reserves.(ii) Contained ounces may not add due to rounding.
