Mr. Golden Shield Resources Inc reports

GOLDEN SHIELD ANNOUNCES NON-BROKERED PRIVATE PLACEMENT TO RAISE CAD $2 MILLION

Golden Shield Resources Inc. has arranged a non-brokered private placement, whereby the company intends issue up to eight million units at a price of 25 cents per share for total gross proceeds of up to $2-million.

Each unit will consist of one common share in the capital of the company and one non-transferable common share purchase warrant. Each warrant will be exercisable to acquire one share at a price of 35 cents per share for a period of 12 months from the date of issuance, subject to an acceleration clause. If the five-day volume-weighted average trading price of the shares as quoted on the Canadian Securities Exchange is equal to or greater than 40 cents at the close of any trading day, then the company may, at its option, accelerate the expiry date of the warrants by issuing a press release announcing that the expiry date of the warrants shall be deemed to be on the 30th day following the issuance of the warrant acceleration press release. All warrants that remain unexercised following the accelerated expiry date shall immediately expire and all rights of holders of such warrants shall be terminated without any compensation to such holder.

Golden Shield intends to use the net proceeds raised from the offering to advance permitting at the company's flagship Marudi Mountain gold project, located in southern Guyana, for project evaluations in South America and for general working capital.

The closing of the offering is subject to the receipt of all necessary regulatory approvals, including the approval of the CSE. All securities issued pursuant to the offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws. There are no material facts or material changes regarding the company that have not been generally disclosed.

About Golden Shield Resources Inc.

Golden Shield Resources in a mineral exploration company founded by experienced professionals with extensive experience in South America, especially in gold and copper.

We seek Safe Harbor.