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File: October 29 2013 - 2 - GSU NR - Update and clarification of production - FINAL.docx

Golden Sun Mining Corp.
Suite 400 - 409 Granville Street
Vancouver, BC, V6C 1T2
Telephone: (604) 678-2531

			             
          NEWS RELEASE
 Trading Symbols TSX-V: SSU, FSE: SS6, OTC: SSUXF
 
 
 
 
 
October 29, 2013

GOLDEN SUN PROVIDES UPDATE AND CLARIFICATION ON PRODUCTION AT CHERRY HILL

As a result of a review by the British Columbia Securities Commission (BCSC), Golden Sun Mining Corp. (‘the Comp
--->any') has been made aware that the BCSC staff is disputing that the Company was ever in commercial production within t
--->he normal industry meaning of this term.

The Company wishes to clarify previous disclosure made in its October 27th, 2011 news release and on its website regar
--->ding Commercial Production commencing at its Cherry Hill Gold Mine. The Company used Natural Resources Canada's (NRCan
--->) test for its interpretation of Commercial Production that states that the date of commencement of production in reas
--->onable commercial quantities is "the first day of a period of 90 consecutive days during which the mill that serves th
--->e mine should have produced at 60%, or above, its designed capacity". Further, NRCan states the test "is a rule of thu
--->mb and must be applied with discretion… if the mine does not have a dedicated mill" (www.nrcan.gc.ca/minerals-me
--->tals/business-market/mining-taxation-regime/3560). Continuous production at a level that was consistent with the rated
---> capacity of the mine allowed the Company to extract over 2,000 tonne during a four month period. 

In its news release dated May 3rd, 2012, the Company announced they anticipated the commencement of production. The Co
--->mpany's disclosure in its MD&A and on its website disclosed that the Company was not in production at that time. Altho
--->ugh consistent production levels were reached by the mining staff at Cherry Hill, which prompted its original disclosu
--->re, these consistent production levels were not maintained.     

The Company did not reach its projected production goals, as announced in news releases dated May 3, 2012 and October 
--->3, 2012 due to a lack of financing and recovery problems at the contract mill. 

The Company reiterates that mining at Cherry Hill has yet to re-start as the Company is re-considering its milling opt
--->ions.  The Company is currently not in commercial production.


ON BEHALF OF THE BOARD OF DIRECTORS 
"Mark A. McLeary"
President
Forward Looking Statements
This news release contains statements that constitute "forward-looking statements" within the meaning of Section 21E o
--->f the United States Securities Exchange Act of 1934 and "forward looking information" within the meaning of applicable
---> Canadian provincial securities legislation (collectively, "forward-looking statements"). Forward-looking statements o
--->ften, but not always, are identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", 
--->"expect", "targeting" and "intend" and statements that an event or result "may", "will", "would", "should", "could", o
--->r "might" occur or be achieved and other similar expressions. Forward-looking statements in this news release include 
--->statements regarding the timing and nature of permitting approvals, the timing and nature of infrastructure developmen
--->ts and construction, completion of project milestones, projections of future optimization, the timing of negotiations 
--->with third parties, and the timing and nature of production timeline targets which are dependent on projections which 
--->may change as testing and processing continues.
The forward-looking statements that are contained in this news release are based on various assumptions and estimates 
--->by Silver Sun and involve a number of risks and uncertainties. As a consequence, actual results might differ materiall
--->y from results forecast or suggested in these forward-looking statements. Forward-looking statements involve known and
---> unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achieve
--->ments of Silver Sun to be materially different from any future results, performance or achievements expressed or impli
--->ed by the forward-looking statements. Factors that could cause the actual results to differ include; risks relating to
---> fluctuations in the price of gold; the inherently hazardous nature of mining-related activities; uncertainties concer
--->ning  resource estimates; results of exploration, availability of capital and financing on acceptable terms, inability
---> to obtain required regulatory approvals, unanticipated difficulties or costs in any rehabilitation which may be neces
--->sary, market conditions and general business, economic, competitive, political and social conditions. These statements
---> are based on a number of assumptions, including assumptions regarding general market conditions, timing and receipt o
--->f regulatory approvals, the ability of Silver Sun and other relevant parties to satisfy regulatory requirements, the a
--->vailability of financing for proposed transactions and programs on reasonable terms and the ability of third-party ser
--->vice providers to deliver services in a timely manner. Although Silver Sun has attempted to identify important factors
---> that could cause actual results to differ materially from those expressed or implied in forward-looking statements, t
--->here may be other factors which cause actual results to differ. Forward-looking statements contained herein are made a
--->s of the date of this news release and Silver Sun disclaims any obligation to update any forward-looking statements, w
--->hether as a result of new information, future events or results or otherwise, except as required by applicable securit
--->ies laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and f
--->uture events could differ materially from those anticipated in such statements. Accordingly, readers should not place 
--->undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX 
--->Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.