GOLDEN DAWN MINERALS INC. TSX-V: GOM FRANKFURT EXCHANGE: 3G8
NEWS RELEASE GOLDEN DAWN ANNOUNCES COMPLETION OF PHASE 3 OF ITS DRILLING PROGRAM ON THE WILD ROSE – TAM O’SHANTER PROPERTY, BRITISH COLUMBIA, CANADA
Vancouver, October 24th, 2011 – Golden Dawn Minerals Inc.

(TSX-V: GOM; FRANKFURT: 3G8), (the “Company” or “Golden Dawn”) is pleased to announce that an additional 12 holes totaling 3,500 meters have been completed on the Wild Rose-Tam O’Shanter portion of the Greenwood Project, 4 km west of the city of Greenwood, bringing the total drilling on the property since November 2010 to 5,350 meters. Deadwood Inferred Resource Area Extension The 12 hole program was focused on the Wild Rose portion of the property, targeting additional tonnage in the extensions of the Deadwood Inferred Resource Zone as well as the copper-gold soil anomalies at the north end of the property.

The Company anticipates potentially increasing the tonnage of its current resource at the Deadwood Zone where the company has drilled out an Inferred Resource of 279,000 troy ounces of gold at 0.45g/t gold with a cutoff grade of 0.3 g/t (See Company’s news release of July 13, 2011). Seven holes encountered wide zones of sulphide mineralization and silification along with quartz vein stockworks associated with multiple gold zones in the Deadwood gold system.

Drillholes 11WR13 to 11WR18 and 11WR24 were drilled over a strike length of 750 meters along the Deadwood Gold Zone.

The drilling program targeted the northwest, southeast and depth extension of the Deadwood Gold Zone on the Wild Rose portion of the Wild Rose-Tam O’Shanter Property.

The Deadwood Gold Zone has now been extended to depth and along strike to the northwest and southeast.

The group of holes on the flank of the Deadwood Inferred Resource zone, namely 11WR13 to 11 WR18, and 11WR24 were drilled over a strike length of 750 meters and encountered widespread encouraging amounts of pyrite, and chalcopyrite in disseminations, blebs, and clusters, and in several wide vein-associated systems.

This mineralization is widespread in nature, now is known to extend over 1500 meters in length and 300 meters in width and over 300 meters in depth.

Assay results are awaited to determine the significance and the potential expansion of the Inferred Resource in the Deadwood mineralized area. Once a land use permit is received, a new phase of drilling of a further 2,000 to 3,000 meters will be initiated at Deadwood Gold Zone on the Tam O’Shanter portion of the Property, lying on the northwest projection of the Inferred Resource area. Drillholes 11WR19 to 11WR23 were reconnaissance drillholes designed to test strong copper and gold anomalies farther north on the Wild Rose Property.

Visible sulphide mineralization and silicification were intersected in most of these drillholes also. Most of the drill core has been logged and sampled and is at Inspectorate Exploration & Mining Services of Richmond, BC for assaying.

It is anticipated that results will become available from the first week of November 2011 through to the first week of December 2011. Boundary Falls Property – May Mac Mine Area The Company is also pleased to announce that it has also initiated an Induced Polarization (IP) ground geophysical survey over the Boundary Falls property, which is contiguous to the south of the Wild Rose-Tam O’Shanter Property.

This survey will define drill targets in the vicinity of the numerous gold, silver, copper, lead and zinc soil anomalies delineated by the recent soil survey over the Property (See Company’s news release of September 1, 2011). In addition, the IP survey will target the package of 14 veins outcropping in the vicinity of the historic May Mac underground mine.

These veins extend 1,000 meters from southeast to the northwest across the property.

If time and budget permit, the IP survey will be extended to the northeast portion of the property to test strong gold and copper geochemical anomalies that may indicate targets related to a diorite intrusion in that area. The company is also awaiting a land use permit for the Boundary Falls property and will be applying for an underground exploration permit for the May Mac Mine. There are no known mineral resources on the Boundary Falls, and there can be no assurance that any mineral resources will be discovered on the property and, if discovered, there is no assurance that any mineralization may be economically extracted The drilling program is supervised by Michael Dufresne, P.Geol., a Qualified Person as defined by National Instrument 43-101.

Mr.

Dufresne has reviewed and verified the contents of this release. On behalf of the Board of Directors: GOLDEN DAWN MINERALS INC. ¬¬¬¬¬¬¬¬¬“Wolf Wiese” ¬¬¬¬_______________________________ Wolf Wiese Chief Executive Officer For Further Information, please contact: Mike Poulin Investor Relations 604-630-6793
THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS.

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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.

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