Golden Share Mining Corporation TSX VENTURE: GSH Other Recent News

October 23, 2008 Golden Share Options the Pistol Lake Gold Property in the Shebandowan Belt, Ontario, Canada MONTREAL, QUEBEC--(Marketwire - Oct. 23, 2008) - Golden Share Mining Corporation (TSX VENTURE:GSH) is pleased to announce that it has entered into an option agreement dated October 9th 2008 with a local property owner ("the Vendor") to acquire a 100% interest in the 29 claim (122 claim unit), 26.9 km2 Pistol Lake Gold Property ("Pistol Lake") located in Northwestern Ontario, Canada. The Pistol Lake property is accessible by road and located in the Shebandowan greenstone belt, a classic Archean sequence exhibiting strong similarities to the Hemlo, Timmins, Kirkland Lake and Val dOr gold camps both in geological and tectonic evolution. Over 30 gold occurrences with assays up to 124.80 g/t Au are recorded on the Pistol Lake Property over a great variety of geological settings. These gold occurrences are at various stages of development and offer great exploration potential for additional discoveries. Four principal zones highlight this potential. The J.F. West Zone : A 10 to 50 m wide deformation zone located at the contact between a feldspar porphyry and a mafic volcanic unit and characterized by intense quartz veining and breccia zones. It has so far been defined by 23 diamond drill holes over a 900 m strike length and to a vertical depth of approximately 250 m. All drill holes have intersected the mineralization and previous drill intercepts range from 12.91 g/t Au over 1.50 m to 2.14 g/t Au over 16.70 m. An internal preliminary resource estimate has been executed over the J.F. West Zone which remains open in all directions. The Contact Zone : A gold-bearing deformation zone occurring along the northern contact of the Shebandowan Stock. This contact hosts the Band Ore gold deposit located 8 km east of the property which contains historical resources of 251,271 ounces of gold within two principal zones (706,000 tonnes at a grade of 6.86 g/t Au(i) and 616,000 tonnes at a grade of 4.83 g/tonne Au(i)). The first zone was the object of a 1980 resource estimate by Watts, Griffis and McOuat. The Pistol Lake property covers an 8 km strike length of the favourable contact over which deformation and quartz veining has already been identified. The Calchris Zone : A gold-bearing deformation zone exposed in outcrop and trenches over a 600 m strike length. Gold occurs with quartz veining and strong alteration and deformation. Historic assays of up to 96.00 g/t Au over 0.50 m have been obtained in surface channel sampling. The Martin Bay Zone : A highly altered regional deformation zone estimated to be 250 m in width where surface sampling of a quartz vein and stringer zone historic occurrence, as well as float material in its immediate vicinity, returned gold and silver values up to 107.45 g/t Au (3.13 oz/t Au) and 826.00 g/t Ag (25.10 oz/t Ag) respectively. Sampling of the deformation zone, where possible, returned gold values from 5 ppb to 2.84 g/t Au. The property also offers good potential for VMS mineralization, magmatic Ni-Cu mineralization and possibly diamond mineralization. See attached figure: http://media3.marketwire.com/docs/Pistol_Lake_%20Geology.pdf Golden Share can acquire a 100% interest in the Pistol Lake Property over four years by meeting the following conditions: - By paying the Vendor a total of $150,000; $50,000 on the second anniversary date of signature of the Agreement, $50,000 on the third anniversary date of signature of the Agreement and $50,000 on the fourth anniversary date of signature of the Agreement. Half of the third payment, or $25,000, can be executed by the issuance of a number of common shares representing the sum $25,000 according to market price at the time of the last installment; - By issuing the Vendor a total of 300,000 Golden Share common shares; 75,000 shares upon signature, 75,000 shares on the first anniversary date, 75,000 shares on the second anniversary date and 75,000 shares on the third anniversary date; - By incurring a total of $400,000 in exploration expenditures; $100,000 in the first year, $100,000 in the second, $100,000 in the third and $100,000 in the fourth. Following the acquisition of a 100% interest by Golden Share, the Vendor will retain a 3% Royalty (the "Royalty"). Golden Share will have the right to purchase a portion equal to a first third of the Royalty for $500,000 (1% Royalty). Additionally, Golden Share will have the right to purchase a portion equal to a second third of the Royalty for $1,000,000 (1% Royalty). The Vendor will thereafter retain the final third of the Royalty (1% Royalty). Moreover, following the acquisition of the 100% interest, Golden Share shall make the Vendor annual advance-royalty payments for a total sum of $20,000 per year. Such yearly advance-royalty payments will be payable each future anniversary date starting on the 5th anniversary date of signature of the agreement. Such payments are to be deducted from any Royalty payments to be made to the Vendor as defined above. Before the 9th anniversary date of signature of the agreement, Golden Share may elect, at its sole discretion, to execute half of the yearly $20,000 payments by the issuance of a number of common shares representing the sum of $10,000 according to the market price at such date. Philippe Giaro, P.Geo., President and CEO of Golden Share Mining Corporation and Qualified Person for Golden Share, has reviewed and approved the content of this release. Golden Share has currently two drill programs underway and is actively developing three high-profile properties in the Abitibi and Shebandowan greenstone belts of Eastern Canada. Regular updates will be provided as work progresses and results are received by the Company. (i) These estimates were executed prior to the introduction of National Instrument 43-101; hence they should be treated as historical data and therefore not be relied upon. About Golden Share Mining Corporation Golden Share Mining Corporation (TSX VENTURE:GSH) is a Canadian-based mining exploration company whose primary mission is to target, explore and develop gold deposits in Canada. Golden Share was created through the reorganization of SearchGolds Canadian gold assets and is lead by an experienced management team at the technical and corporate level. The Companys projects straddle three greenstone belts of Eastern Canada, are accessible by road and are all located close to the established mining centers of Val dOr and Rouyn-Noranda in Quebec and Shebandowan, west of Thunder Bay, in Ontario. Golden Share completed its initial public offering in December 2007 and finalised a $2,666,025 financing with Canaccord Capital Corporation who acted as the agent. The Companys common shares started trading on the TSX Venture Exchange under the symbol "GSH" on January 14th 2008. Golden Share financed and additional $1,075,000 in early July 2008 including a $500,000 flow-through financing to be allocated to the developments of its activities in Ontario and particularly for the Elwood property located near Thunder Bay. The Company has 25 055 193 common shares issued and outstanding and with a current cash position of $2.2 million, Golden Share is fully funded and able to accomplish all of its major exploration programs for 2008 as well as proceed with additional strategic acquisitions. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION: Golden Share Mining Corporation Philippe Giaro President & CEO 32-473-52-30-29 or Golden Share Mining Corporation Denis Tremblay Vice-President 514-904-1333 http://www.goldenshare.ca or MI3 Communications Inc. Daniel Vine Consultant 514-866-4224 daniel@mi3.ca INDUSTRY: Manufacturing and Production - Mining and Metals