VGC

Editors Note: There is a map associated with this press release.

Golden Share Mining Corporation ("Golden Share")(TSX VENTURE:GSH) is pleased to
announce late fall 2011 channel sampling results from the Larose Gold Property
("Larose") located in the Shebandowan area of northwestern Ontario and object of
an option agreement with Viking Gold Exploration Inc. ("Viking") (TSX
VENTURE:VGC) whereby Golden Share can acquire a 50% interest.


Larose is situated at the western end of the Shebandowan belt, approximately 40
km west of Golden Share's Shebandowan project. The property is mostly underlain
by metasedimentary rocks, mainly greywacke and argillite, and gold
mineralization is associated with the Larose shear zone ("LSZ"), a major
northeast trending shear up to 25 m wide, that can be identified across the
entire property over 9 km and which has so far been systematically traced
through surface exposures over 4 km. 


The recent surface work executed by Golden Share comprised geological
reconnaissance, outcrop sampling, channel sampling, line cutting and ground
geophysics. Highlights for this recent campaign are provided by channel sampling
on the P1 trench located within the central part of the LSZ and which yielded
the following results :




--  45.93 g/t Au over 3.1 m

--  54.21 g/t Au over 1.4 m



The mineralization is hosted in sheared, very fine grained metasediments showing
local sericitization, silicification and carbonatization and quartz veinlets
containing up to 20% sphalerite, 10% pyrite and 2% galena. Moreover, the grab
sampling by Golden Share validated Freewest's previous results and shows several
high grades areas to be developed along the LSZ with grab samples results of up
to 218.0 g/t Au in the P1 trench, 30.7 g/t Au in the Larose trench and up to
29.8 g/t Au in the T trench located 4 km to the northwest of the Larose trench.
Please see the attached figure or visit : http://www.goldenshare.ca.


Philippe Giaro, President and Chief Executive Officer of Golden Share, commented:

"The P1 trench had never been channel sampled previously and we are encouraged
by these early stage results showing high gold grades on pluri-metric widths. We
will now execute additional detailed compilation to better understand the
relationship between such high grade zones and the broad mineralized envelopes
associated with the LSZ. While such high grades have also been intersected by
previous Freewest drilling at shallow depths (29.11 g/t Au over 0.50 m in
L03-06, 25.52 g/t Au over 0.50 m in L04-09 and 39.49 g/t Au over 0.20 m in
L04-13 - all above 100 m depth), previous drilling has also intersected broader,
lower grade envelopes yielding results such as to 0.97 g/t Au over 22.35 m in
L03-04. Understanding this relationship will be key to unlocking the potential
of the property and the compilation will pave the way for our summer 2012
program on Larose."


Mac Watson, Geological Advisor to Viking, commented:

"The recent work completed by Golden Share illustrates the potential of the
Larose property and Viking is happy to see Golden Share moving the project
forward".


About Golden Share Mining Corporation 

Golden Share Mining Corporation is a Canadian-based mining exploration company
developing a promising portfolio of properties in the greenstone belts of
eastern Canada, namely in the Val d'Or-Malartic, Red Lake and Shebandowan areas.



Lake Shore Gold Corp., an emerging gold producer, holds a strategic 27.2%(i)
interest in Golden Share which is led by a technically focused management team
strengthened by an experienced board of directors and a proven advisory board
including successful geologists Roy Corrans and Sethu Raman as well as seasoned
financier Anthony Frizelle. 


Golden Share's development strategy involves advancing a well balanced portfolio
of gold properties in a politically stable environment with a history of gold
endowment through systematic exploration, resource definition and acquisitions.
Highlights of the current portfolio include:




--  NI 43-101 and historical resources on Shebandowan Gold Play (150,699 oz
    Au Inferred(ii) and 251,271 oz Au historical(iii)),  
--  Past producing high grade Au-Ag Berens River Mine to be redeveloped,  
--  NI 43-101 compliant resources on Forsan (35,000 oz Au Inferred
    Resources(iv)), 
--  New discoveries in the Cadillac break environment.

(i) Lake Shore Gold Corp. acquired direct ownership of a total of 21.69     
million common shares of Golden Share representing 19.9 per cent of the     
outstanding shares, as well as warrants to acquire an additional 10,845,000 
common shares of Golden Share (representing 9 per cent of the outstanding   
shares on a partially diluted basis) at an exercise price of 20 cents per   
common share                                                                
(ii) 2,857,200 MT @ 1.64 g/t Au at 1.00 g/t Au cut off                      
(iii) 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.                                               
(iv) 536,500 MT @ 2.03 g/t Au at 1.00 g/t Au cut off                        



Golden Share's exploration programs are executed under the supervision of Mrs.
Laurence Huss, M.Sc., P. Geo., a "Qualified Person" as defined in National
Instrument 43-101, and Vice-president Exploration of Golden Share. Philippe
Giaro, P.Geo., President and CEO of Golden Share and Qualified Person for Golden
Share, has reviewed and approved the content of this release.


FOR MORE INFORMATION, CONSULT : http://www.goldenshare.ca 

OR OUR FACEBOOK PAGE AT: http://www.facebook.com/people/Golden-Share/100001472712018

To view the map associated with this press release, please visit the following
link:
http://www.marketwire.com/library/20120201-2011_fall_surface_work_Larose_800.jpg.

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