Golden Share Provides Corporate Update and Adopts Acquisition Strategyadmin
Toronto, November 5th 2013 – Golden Share Mining Corporation ("Golden Share" or the "Company" – TSXV:GSH) is pleased to reaffirm the support of its cornerstone shareholder, Beijing Donia Resources Co. Ltd. ("Donia") and of Sinotech Minerals Exploration Co. Ltd. ("Sinotech"), a leading Chinese mineral exploration and development company (jointly "Sinotech/Donia").
While Golden Share remains resolutely focused on its present high quality Ontario assets, a property acquisition strategy has been adopted to capitalize on current markets distortions and extremely low valuations for quality mining assets which the Company believes should be taken advantage of in order to fast track the enhancement of shareholder value.
Following their August 2013 Berens River field visit and the Red Lake meetings, Sinotech/Donia representatives further reaffirmed their commitment to actively assist Golden Share in its exploration and development efforts, notably with the following.
1.Golden Share’s Technical Committee was officially appointed and consists of the following members: Dr. Jingbin Wang, Dr. Wenshan Zhang, Mrs. Laurence Huss and Mr. Philippe Giaro. The Committee will oversee all technical developments at Golden Share and will provide guidance for future exploration plans and acquisitions.
2.Sinotech/Donia’s commitment will be governed by an existing cooperation agreement which, by virtue of the July 25, 2013 merger, stipulates that Golden Share and Donia agree :
a)to work together globally, with a focus on the Americas, for mineral exploration, mineral development, and mining with a focus on both base metals and precious metals.
b)to commence an acquisition program of resource properties and/or companies with desirable resource assets.
c)that when required by Golden Share, Donia, or its nominee will provide the required capital support upon mutually agreeable terms.
President and Chief Executive Officer Philippe Giaro commented:
"We have now been working with Sinotech and Donia for just over three months and their representatives have been extremely supportive. While the current severe downturn is affecting all mining and exploration companies, Sinotech and Donia have reaffirmed their long term vision and their intention to provide the required capital support to maintain our objectives. The key to success in our industry is flexibility and longevity. While this is a time to stay the course on the exploration front and adapt to prevailing conditions, the current distress has generated very compelling opportunities in the mining sector. For the record, it is worth remembering that Golden Share started building its current Ontario property portfolio in a cost effective manner three weeks after the fall of Lehman Brothers in times of widespread uncertainty when no one showed any interest to our sector. Crisis creates opportunities and opportunities call for action".
Golden Share has also been active on the visibility front since the July 25, 2013 merger with Silvore Fox Minerals Corp. ("Silvore Fox"). In September and October 2013, road shows and meetings were held in London, Geneva, Luxembourg, Brussels, New York and Beijing to present the newly structured Company and to update all non-Canadians shareholders on the new partnership with Sinotech and Donia. Further meetings are planned in Canada and Golden Share will be a featured speaker at the 2013 Ontario Exploration & Geoscience Symposium to be held by the Ontario Prospectors Association in Sudbury on November 5 and 6, 2013.
Golden Share’s new head office is located in Markham, just outside Toronto. We invite you to visit our updated website at : http://www.goldenshare.ca.
About Golden Share
Golden Share Mining Corporation is a Canadian-based mining exploration company developing a promising portfolio of properties in the mineral belts of Eastern Canada with a strategy focused on a well-balanced property portfolio in a politically stable environment with a history of rich mineral endowment.
On July 25, 2013 shareholders of the Company approved the merger with Silvore Fox, a Canadian junior explorer listed on the TSX Venture Exchange (see press release dated July 25, 2013). Following this transaction Beijing Donia Resources Co. Ltd., a Chinese state owned company, has become Golden Share’s largest shareholder with approximately 21.9% of its issued and outstanding shares. Sinotech Minerals Exploration Co. Ltd., a leading Chinese mineral exploration and development company, is a 50.03% shareholder of Beijing Donia Resources Co. Ltd (For further details please see the recent Sinotech corporate presentation on : http://www.goldenshare.ca).
This new Chinese partner recognizes the value of Golden Share’s well balanced portfolio of properties located in Quebec and Ontario and sees the merged entity as an ideal platform to further develop its activities in exploration and development in North America, and notably in Eastern Canada, a politically stable environment with a history of mineral endowment.
Golden Share’s exploration programs are executed under the supervision of Mrs. Laurence Huss, M.Sc., P. Geo., a << Qualified Person >> as defined in National Instrument 43-101, and Vice-president Exploration of Golden Share. Philippe Giaro, P.Geo., President and CEO of Golden Share and Qualified Person for Golden Share, has reviewed and approved the content of this release.
FOR MORE INFORMATION, CONSULT: http://www.goldenshare.ca
OR OUR FACEBOOK PAGE AT:
Golden Share Mining Corporation
Philippe Giaro, President & CEO
Tel: 1-905-968-1153 or Tel: 32-473-52-30-29
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.
Posted: November 5th, 2013 under ACCESSWIRE.