Dr. Mathew Ball reports

GOLDEN DAWN REPORTS ON DEFAULT STATUS UPDATE AND CHANGES TO MANAGEMENT

Golden Dawn Minerals Inc. has provided a status update to the management cease trade order (MCTO) issued by the British Columbia Securities Commission (BCSC) on April 2, 2019, as announced in the company's news release dated April 3, 2019, in connection with the company failing to meet the filing deadline for its audited annual financial statements, related management's discussion and analysis, and officer certifications for financial year ended Nov. 30, 2018.

As announced in the company's news release dated March 15, 2019, the company was unable to complete its annual filings as a result of the unexpected departures of the company's former chief executive officer, Wolf Wiese, due to a health reasons, and chief financial officer, Andrea Yuan, to pursue other business interests. The company's new chief financial officer, Nicolette Keith, in concert with the new management individuals announced below, will continue to work diligently toward completing the annual filings in a timely manner. The company anticipates that it will complete and file the annual filings by May 31, 2019. The company further anticipates that it will file the first quarter financial results for the period ending Feb. 28, 2019, concurrently with the annual filings.

The company confirms that it intends to comply with the provisions of the alternative information guidelines set out in the National Policy 12-203 Management Cease Trade Orders for as long as it remains in default, including the issuance of a biweekly default status report issued in the form of a news release. The company will also continue to disclose any other material information concerning its affairs and continuing business activities in accordance with National Policy 51-102 Continuous Disclosure Obligations.

Appointment of senior officers and director

The company is pleased to announce that Christopher Anderson has agreed to accept an appointment as interim chief executive officer and director of the company. Mr. Anderson fills the vacancies left following the resignations of Stefan Bender as a director in August, 2018, and Dr. Mathew Ball as interim chief executive officer of the company. Dr. Ball, PGeo, has agreed to continue to provide his services as chief operating officer and has further agreed to accept an appointment as president of the company. Further, the company announces that Scott LeSage has agreed to succeed Andrew Brown as corporate secretary of the company.

Mr. Anderson's appointment as an officer of the company is on an interim basis to assist with the company with its continuing debt restructuring and future financing requirements. The company's board believes that his success, prior to this appointment and working for his own account, in negotiating a debt restructuring opportunity with the company's major credit makes him ideally situated provide this assistance to the company. The company expects that Mr. Anderson's role as interim chief executive officer will be reviewed by the board of directors by the end of July, 2019. During the time that Mr. Anderson maintains the position of interim chief executive officer, the company will pay to Mr. Anderson a salary of $15,000 per month as compensation for his services.

In connection with his appointment as interim chief executive officer, and in accordance with NP 12-203, Mr. Anderson has acknowledged and consented to his being made subject to the MCTO, and will, therefore, be prohibited from trading in securities of Golden Dawn until the conditions of the MCTO have been fulfilled or it is otherwise revoked.

We seek Safe Harbor.