2017 NEWS

Golden Valley Mines Announces Annual Meeting Results

June 13, 2017

Val-d’Or, Québec – Golden Valley Mines Ltd. (“Golden Valley” or the “Company”) (TSX-V:GZZ) announces the results of its annual and special meeting of shareholders held in Montréal, Québec, on June 12, 2017.

At the meeting, shareholders elected four incumbent directors, being Joseph Groia, Jimmy S.H. Lee, William D. McCartney and Glenn J. Mullan.  Avril Cole, who has served as a director of Golden Valley since June 2015, did not stand for re-election.  The Board of Directors extends sincere thanks to Ms. Cole for her contributions to Golden Valley during the years she served as a director.

Shareholders appointed MNP LLP as Golden Valley’s auditor for the ensuing year and approved (by disinterested vote) the Mining Option Agreement between the Golden Valley and Nunavik Nickel Mines Ltd. made as of April 18, 2017, for the grant by the Golden Valley to Nunavik of an option to acquire 61 of the Corporation’s grassroots properties located in Ontario and Québec.

Following the shareholder meeting, the Board reconstituted its Audit Committee, the Compensation Committee and the Corporate Governance Committee.  The Board also reappointed officers for the ensuing year as follows:

Chair, President & Chief Executive Officer:

Glenn J. Mullan

Lead Director:

Joseph Groia

Chief Financial Officer & Corporate Secretary:

Annie Karahissarian

Vice President, Exploration:

Michael P. Rosatelli

About Golden Valley Mines Ltd.:  The Company typically tests initial grassroots targets while owning a 100% interest therein and then seeks partners to continue exploration funding.  This allows the Company to carry on its generative programs and systematic exploration efforts at other majority-owned grassroots projects.  The Company (together with its various subsidiaries) holds property interests in projects in Canada (Saskatchewan, Ontario and Québec).

For additional information, please contact:

Glenn J. Mullan
Chairman, President, and CEO
Golden Valley Mines Ltd.
152, chemin de la Mine École
Val-d’Or, Québec J9P 7B6
Telephone: 819.824.2808 ext. 204
Email: glenn.mullan@goldenvalleymines.com

Forward Looking Statements:

This news release contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Golden Valley believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of management on the date the statements are made.  Except as required by law, Golden Valley undertakes no obligation to update these forward-looking statements in the event that respective management’s beliefs, estimates or opinions, or other factors, should change.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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