Golden Share Mining Announces First Closing of Private Placement of $957,800

MONTREAL, QUEBEC -- (Marketwire) -- 09/30/10 -- Golden Share Mining Corporation ("Golden Share" or the "Corporation")(TSX VENTURE: GSH) is pleased to announce the completion of a first tranche of $957,800 of an on-going private placement.

Under this private placement, the Corporation has issued a total of 4,870,000 non-flow through common shares ("Shares") at a price of $0.10 per Share, 3,850,000 flow-through Shares at a price of $0.12 per Share, and 6,575,000 Share purchase warrants (a "Warrant"), each Warrant entitling its holder to purchase one non-flow through Share at a price of $0.15 per Share at any time during the 24-month period from the closing date.

In connection with this private placement, the Corporation will pay the following commissions (representing 10% of the gross proceeds raised by each finder and a number of finder's units equal to 10% of the number of Shares subscribed through each finder):

--  Nottingham Consulting Ltd: $15,000 and 150,000 finder's units;

--  Gundyco: $36,680 and 366,800 finder's units;

--  National Bank Financial: $14,800 and 148,000 finder's units;

--  Canaccord Genuity Corp.: $2,000 and 20,000 finder's units.

Each finder's unit will allow its holder to acquire one non-flow through Share and one Warrant.

All Shares to be issued in connection with this private placement are subject to a 4-month minimum hold period. Insiders of the Corporation have subscribed under this private placement for $20,000 in hard cash units.

This private placement is subject to the approval of the TSX Venture Exchange.

In other news, the Corporation wishes to rectify its press release of September 8, 2010 announcement regarding options granted to insiders. The 600,000 stock options granted to insiders are exercisable at $0.10 per Share until September 7, 2015.

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.

Contacts:
Golden Share Mining Corporation
Philippe Giaro, President & CEO
1-514-866-4224
32-473-52-30-29
[e-mail] / [e-mail]
www.goldenshare.ca