MONTREAL, QUEBEC -- (Marketwire) -- 03/13/13 -- Golden Share Mining Corporation ("Golden Share" or the "Company")(TSX VENTURE: GSH) is pleased to provide an update on its recent permitting activities for Ontario.
All regulatory documentation relating to Ontario's new Mining Act was filed with the Ministry of Northern Development and Mines ("MNDM") by Golden Share in late 2012 for the Berens River and Shebandowan projects.
On March 8, 2013 the Company received the Exploration Permits for the Berens River and Shebandowan projects.
These permits have been issued by the MNDM with a period of validity of three years, cover early higher impact exploration activities and notably allow the execution of standard core diamond drilling described as "Mechanized Drilling / assembled weight greater than 150kg".
While this represents an important milestone, Golden Share remains involved in ongoing discussions with the Aboriginal communities in the areas of both projects to work in a collaborative way and continue to advise them of the Company's future exploration plans.
Ontario's new Mining Act
Beginning November 1, 2012, new rules under Ontario's Mining Act have taken effect. These changes reflect key components of the modernized Mining Act that was passed in 2009 to promote mineral exploration and development in a manner that recognizes Aboriginal and treaty rights, is more respectful of private landowners and minimizes the impact of mineral exploration and development on the environment. These new rules include the filing of Exploration Plans and Permits ("EPP").
Exploration Plans and Permits
In order to undertake certain early low impact exploration activities, an Exploration Plan must be submitted, and any surface rights owners must be notified. Some early higher impact exploration activities also require an Exploration Permit and such activities will only be allowed to take place once the Permit has been approved by the MNDM. Aboriginal communities potentially affected by the EPP activities are notified by the MNDM and have an opportunity to provide feedback before the proposed activities can be carried out. Submissions of EPP have been voluntary since November 1, 2012 and will be mandatory as of April 1, 2013.
About Golden Share Mining Corporation
Golden Share Mining Corporation is a Canadian-based mining exploration company developing a promising portfolio of properties in the greenstone belts of eastern Canada, namely in the Val d'Or-Malartic, Red Lake and Shebandowan areas.
Lake Shore Gold Corp., a Canadian emerging gold producer, holds a strategic 27.2%(i) interest in Golden Share which is led by a technically focused management team strengthened by an experienced board of directors and a proven advisory board including successful geologists Roy Corrans and Sethu Raman as well as seasoned financier Anthony Frizelle.
Golden Share's development strategy involves advancing a well balanced portfolio of gold properties in a politically stable environment with a history of gold endowment through systematic exploration, resource definition and acquisitions. Highlights of the current portfolio include:
-- NI 43-101 and historical resources on Shebandowan Gold Play (150,699 oz Au Inferred(ii) and 251,271 oz Au historical(iii)),-- Past producing high grade Au-Ag Berens River Mine to be redeveloped,-- NI 43-101 compliant resources on Forsan (35,000 oz Au Inferred Resources(iv)),-- New discoveries in the Cadillac break environment.
(i) Lake Shore Gold Corp. acquired direct ownership of a total of 21.69 million common shares of Golden Share representing 19.9 per cent of the outstanding shares, as well as warrants to acquire an additional 10,845,000 common shares of Golden Share (representing 9 per cent of the outstanding shares on a partially diluted basis) at an exercise price of 20 cents per common share
(ii) 2,857,200 MT @ 1.64 g/t Au at 1.00 g/t Au cut off
(iii) These estimates were executed prior to the introduction of National Instrument 43-101; hence they should be treated as historical data and therefore not be relied upon.
(iv) 536,500 MT @ 2.03 g/t Au at 1.00 g/t Au cut off
Golden Share's exploration programs are executed under the supervision of Mrs. Laurence Huss, M.Sc., P. Geo., a "Qualified Person" as defined in National Instrument 43-101, and Vice-president Exploration of Golden Share. Philippe Giaro, P.Geo., President and CEO of Golden Share and Qualified Person for Golden Share, has reviewed and approved the content of this release.
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Golden Share Mining Corporation
President & CEO
1-514-866-4224 or 32-473-52-30-29