Golden Dawn Minerals Expands Gold-copper Exploration Holdings, Historic Greenwood Mining District, British Columbia, Canada

VANCOUVER, November 2, 2010 - Golden Dawn Minerals Inc. (TSXV : GOM, Frankfurt: 3G8) has concluded an
agreement with Kettle River Resources Ltd. (TSXV: KRR) to acquire 100%
interest in the Tam O'Shanter gold-copper prospect in the historic Greenwood
Mining District, British Columbia, Canada. The acquisition requires the
payment of CDN $230,000 in cash, the issue of 1,500,000 shares of common
stock in Golden Dawn Minerals Inc., and a work commitment of CDN$ 2,000,000
over 4 years, subject to a 3% NSR retained by Kettle River Resources Ltd. The
Company has the option to repurchase 2% NSR for CDN $3,000,000.

The 1,250 Ha Tam O'Shanter property complements and adjoins on the west
two other tracts already held by Golden Dawn Minerals Inc., namely the Wild
Rose property (750 Ha), and to the south, the Boundary Falls property (1,000
Ha). This contiguous 3,000 Ha land package has undergone multiple phases of
exploration during the 1980's and 1990's and early 2000's. Drilling of over
150 holes in several drilling campaigns encountered significant gold values
at the Deadwood and Wild Rose zones along the eastern portion of the Tam
O'Shanter property on strike with the Wild Rose vein systems and the Deadwood
lower grade bulk tonnage targets.

A large reference database has been accumulated on the property from
underground exploration, development and former production. These activities
include 450 meters of underground exploration on the Wild Rose and Wild Cat
vein systems; production and underground development in the 1,000 meter
MayMac tracked adit on the Boundary Falls property; and milling of production
from the MayMac Mine through the 120 tons per day permitted Roberts grinding
and flotation mill, with tailings facility, located on that property.
Combined with detailed geochemical surveys, and both surface and recent
airborne TEM and magnetic surveys, this database provides a working platform
for an anticipated exploration program. All this data is being compiled by
APEX Geoscience Ltd. (APEX) of Edmonton into an Arc-Gis database.

Multiple gold-copper target types encountered in previous work and
suggested by the current geophysical work provide the impetus for this
current renewed exploration. These include: bulk tonnage low grade gold and
gold-copper systems of Overlook type, and South Penn type found in the
Republic District of Washington State, USA, located immediately south of the
land package; higher grade sulphide-rich gold-silver base metal vein systems
of Rossland type; gold and copper-bearing massive sulphides and skarns of
Motherlode and Phoenix type; magnetite-gold systems of Belcher and Buckhorn
type; and high grade bonanza grade low-sulphidation epithermal gold vein
systems of the Knob Hill and K2 type.

Numerous historic diamond drill holes that have yielded wide auriferous
intersections indicate a prospective exploration target zone approximately
2,000 meters by 200 meters in extent that reaches northwest across the
property from the Wild Rose vein area to the Deadwood prospect area and into
the newly optioned Tam-O'-Shanter Property to the west. One of the most
encouraging holes in this group is DDH 92-27 which intersected 63 meters
averaging 0.95 g/t gold, and up to 0.4% copper, including 0.15 meters
assaying 134.2 g/t (4.3 oz/t) gold. Numerous drill holes into the Wild Rose
Vein system have encountered intersections of up to 2.5 meters assaying from
anomalous gold up to 34 g/t gold and up to 3% copper.

All of the data are historical in nature and have not been verified.
There are no known mineral resources on the property and there can be no
assurance that any will be found or if found that such may be economically
mined.

Field crews are being mobilized to the area in preparation for drilling.
The property is easily accessed by good logging and gravel roads from the
nearby city of Greenwood, which is situated on Highway 3 and where all
support services are available. Drilling has historically been possible into
mid December, and can resume around mid January.

The historic Greenwood district has produced gold and copper since 1888
from multiple deposits including the Motherlode (4.2 million tonnes at 0.8%
copper, 1.39 g/t gold) and the Phoenix (30 million tonnes at 0.99% copper and
1 g/t gold). Significant gold production (173,555 ounces in 2009) continues
within this mineral belt immediately to the south in Washington State at the
Buckhorn Mine of Kinross Gold.

This press release has been reviewed by Dr. Stewart Jackson, P.Geol., a
Qualified Person and Mike Dufresne MSc., P.Geol. President of APEX Geoscience
Ltd.

    ON BEHALF OF THE BOARD OF DIRECTORS OF
    GOLDEN DAWN MINERALS INC.

    "Wolf Wiese"

    _____________________________
    Wolf Wiese
    President/CEO

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.

    For further information:

    GOLDEN DAWN MINERALS INC.
    575 1111 WEST HASTINGS STREET,
    VANCOUVER, BC, V6E 2J3
    Telephone: +1(604)221-8936
    Facsimile: +1(604)685-2360

For further information: GOLDEN DAWN MINERALS INC., 575 1111 WEST HASTINGS STREET, VANCOUVER, BC, V6E 2J3, Telephone: +1(604)221-8936, Facsimile: +1(604)685-2360