Golden Share Options the Pistol Lake Gold Property in the Shebandowan Belt, Ontario, Canada

MONTREAL, QUEBEC, Oct 23 (MARKET WIRE) --
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 d'Or 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 SearchGold's Canadian gold assets and is lead by an
experienced management team at the technical and corporate level. The
Company's projects straddle three greenstone belts of Eastern Canada, are
accessible by road and are all located close to the established mining
centers of Val d'Or 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 Company's 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.

Contacts:
Golden Share Mining Corporation
Philippe Giaro
President & CEO
32-473-52-30-29
phgiaro@skynet.be

Golden Share Mining Corporation
Denis Tremblay
Vice-President
514-866-4224
info@goldenshare.ca
www.goldenshare.ca

MI3 Communications Inc.
Daniel Vine
Consultant
514-904-1333
daniel@mi3.ca

Copyright 2008, Market Wire, All rights reserved.

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