Mr. Wolf Wiese reports

GOLDEN DAWN APPOINTS NEW CFO AND CORPORATE SECRETARY AND CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT

Golden Dawn Minerals Inc. has appointed Andrea Yuan chief financial officer for the company, as of Dec. 1, 2015. Rita Tung (CPA), former CFO of the company, has been appointed controller for the company.

Ms. Yuan is a chartered professional accountant (CPA)/certified general accountant (CGA) in British Columbia and a certified public accountant (CPA) in New Hampshire. Ms. Yuan obtained her bachelor of economics from Shanghai University of Finance and Economics in 1994. Ms. Yuan started her career as an internal auditor and then as team head of the internal audit department at Bank of China's Shanghai Pudong branch in China from 1994 through to 1999. Ms. Yuan moved to Davidson & Company LLP, chartered accountants, in 2004, where she worked in the firm's audit group. From November, 2006, until 2009, Ms. Yuan was employed as an audit manager at Davidson. From 2009 until October, 2011, Ms. Yuan was employed as an audit principal at Davidson.

Currently, Ms. Yuan acts as chief financial officer or financial consultant for several public companies listed on the TSX Venture Exchange, Canadian Securities Exchange and OTC Markets. Ms. Yuan is fluent in both English and Mandarin (oral and written).

The company appointed Andrew Brown as corporate secretary as of Nov. 1, 2015. Mr. Brown previously spent four years working in corporate finance and has over six years experience working in the public markets. Mr. Brown has completed his CSC and is also fluent in Portuguese.

Further to these appointments to the management of the company, Wolf Wiese, chief executive officer of the company, announces the closing of the first tranche of a private placement consisting of $235,000 in non flow-through shares and $200,000 in flow-through shares at a price of 10 cents per share, representing a total issuance of 4.35 million units. Each flow-through unit consists of one flow-through common share and one non-flow-through common share purchase warrant exercisable at 12.5 cents in the first year and 15 cents in the second year. Each non-flow-through unit consists of one common share and one common share purchase warrant exercisable at 12.5 cents in the first year and 15 cents in the second year.

The previously announced private placement has been amended as above. See new release dated Nov. 9, 2015.

The private placement is subject to Toronto Stock Exchange approval.

We seek Safe Harbor.