Mr. Glenn Mullan reports

GOLDEN VALLEY MINES ANNOUNCES ANNUAL GENERAL AND SPECIAL MEETING RESULTS

Golden Valley Mines Ltd. has released the results of its annual general and special meeting of shareholders held in Val d'Or, Que., and by telephone conference on June 25, 2021.

At the meeting, shareholders elected four incumbent directors, being Joseph Groia, Jimmy S.H. Lee, William D. McCartney and Glenn J. Mullan, and reappointed MNP LLP as Golden Valley's auditor for the ensuing year. Shareholders also approved special resolutions changing the name of the corporation to Golden Valley Mines and Royalties Ltd.

Following the shareholder meeting, the board reconstituted its audit committee, the compensation committee, the corporate governance committee, and the environmental, social and governance committee. The board also reappointed officers for the ensuing year as follows.

Chair, president and chief executive officer:  Mr. Mullan

Lead director:  Mr. Groia

Chief financial officer and corporate secretary:  Rico De Vega

Vice-president of exploration:  Michael P. Rosatelli

About Golden Valley Mines Ltd.

Golden Valley Mines is focused on project generation and continues to evaluate opportunities to enhance its mining exploration property portfolio. The company is able to grow its current assets by way of partner-financed option/joint ventures and through its shareholdings in related entities.