2018 NEWS

Golden Valley Mines Announces Annual Meeting Results & Grants Options

June 22, 2018

Val-d'Or, Québec – June 22, 2018 – Golden Valley Mines Ltd. ("Golden Valley" or the "Company") (TSX-V:GZZ) announces the results of its annual meeting of shareholders held in Montréal, Québec, on June 21, 2018.

At the meeting, shareholders elected four incumbent directors, being Joseph Groia, Jimmy S.H. Lee, William D. McCartney and Glenn J. Mullan, and appointed MNP LLP as Golden Valley's auditor for the ensuing year.

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:

Rico De Vega

Vice President, Exploration:

Michael P. Rosatelli

The Company's Board has granted incentive stock options to its directors and officers entitling the purchase of an aggregate 2,300,000 common shares at a per share price of $0.275 for a period of five years.

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. 

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 the Company 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 the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that 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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