TSX-V: GOM
FRANKFURT EXCHANGE: 3G8

VANCOUVER, Sept. 24 /CNW/ - Golden Dawn Minerals Inc. (TSX-V: GOM) (the "Company") is pleased to announce that further to its news release of September 15, 2008, the Company has closed the first tranche of its non-brokered private placement and has issued a total of 810,579 units (the "Units") of the Company at a price of $0.13 per Unit.

Each Unit consists of one common share and one purchase warrant, with each warrant entitling the holder thereof to purchase an additional common share of the Company at a price of $0.20 per share for a period of two years from the date of closing.

In connection with this closing, the Company will pay a fee equal to 1% of the aggregate proceeds raised from the sale of the Units by the Company to Aberdeen Gould Inc. pursuant to a Right of First Refusal agreement between the Company and Aberdeen Gould Inc.

All securities issued pursuant to this private placement are subject to a Canadian hold period expiring January 24, 2009.

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

"Bill McWilliam"

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Bill McWilliam
President/CEO

THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL
RESPONSIBILITY FOR ITS CONTENTS. THE TSX VENTURE EXCHANGE NEITHER
APPROVES NOR DISAPPROVES OF THIS PRESS 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.