Vancouver, BC, October 9, 2009 - Golden Dawn Minerals Inc. (TSX-V: GOM) (the "Company") is pleased to announce that further to its news release of June 30, 2009, the Company has now completed a non-brokered private placement of $467,724.48 and accordingly has issued 4,077,072 units (the "$0.07 Units") of the Company at a price of $0.07 per unit, 3,294,310 units (the "$0.03 Units") of the Company at a price of $0.03 per unit and 2,087,500 flow through shares (the "FT Shares") of the Company at a price of $0.04 per share.

Each $0.07 Unit was comprised of one common share, one flow-through common share and one share purchase warrant. Each $0.03 Unit was comprised of one common share and one share purchase warrant. All warrants are exercisable into common shares of the Company for a period of two years from the date of issue at an exercise price of $0.12 per share in the first year and $0.20 per share in the second year.

The Company paid an aggregate of $11,375.50 in finder's fees and issued an aggregate of 389,999 finder's shares to various eligible finders.

The private placement was closed in three tranches. Accordingly: (i) the securities underlying 1,425,571 $0.07 Units, 1,250,000 FT Shares and 125,000 finder's shares are subject to a Canadian hold period expiring November 17, 2009; (ii) the securities underlying 496,428 $0.07 Units, 916,665 $0.03 Units, 187,500 FT Shares and 25,000 finder's shares are subject to a Canadian hold period expiring January 16, 2010; and the securities underlying 2,155,073 $0.07 Units, 2,377,646 $0.03 Units, 650,000 FT Shares and 240,000 finder's shares are subject to a Canadian hold period expiring February 9, 2010.

ON BEHALF OF THE BOARD OF DIRECTORS OF GOLDEN DAWN MINERALS INC.
'Louise Palmer Black'
Corporate Secretary/Director

For further information:
GOLDEN DAWN MINERALS INC.
3929 WEST 30 AVENUE,
VANCOUVER, BC, V6S 1X2
Telephone: (604) 221-8936
Facsimile: (604) 221-8932
www.goldendawnminerals.com

THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. 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.

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. WE SEEK SAFE HARBOR.