Golden Valley Mines Closes $100,000 Private Placement

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS
AGENCIES 


Golden Valley Mines Ltd. ("Golden Valley" or the "Company") (TSX VENTURE:GZZ) is
pleased to announce the completion of a private placement with SIDEX, Limited
Partnership ("SIDEX") of an unsecured convertible debenture of the Company in
the principal amount of $100,000. 


The debenture bears interest at 12% per annum and matures on December 20, 2016.
The debenture is convertible at a conversion price of $0.07 per share during the
first year following the closing date and at a conversion price of $0.10 per
share during the second and third year following the closing date. 


In the context of this private placement, the Company has also issued 700,000
warrants allowing SIDEX to subscribe to an additional 700,000 Common Shares at
an exercise price of $0.09 per share during a period of 18 months following the
closing date. 


Any securities issued under the private placement shall be subject to a hold
period until April 21, 2014. 


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 multiple property
interests in gold, base-metal and energy mineral projects in Canada (Quebec,
Ontario and Saskatchewan). 


About SIDEX, Limited Partnership: SIDEX was established by the Government of
Quebec and the Solidarity Fund QFL. The mission of SIDEX is to invest in
companies engaged in mineral exploration in Quebec in order to diversify
Quebec's mineral base, encourage new exploration models, stimulate investment
for new commodities in existing districts and open new territories with high
potential for discovery. 


Forward Looking Statements:

This news release contains certain forward-looking statements. These
forward-looking statements are subject to a variety of risks and uncertainties
beyond the Company's ability to control or predict and are not to be interpreted
as guarantees for future performance. These forward-looking statements could
cause actual events or results to differ materially from those anticipated in
such forward-looking statements. All forward-looking statements speak only as of
the date of this news release and the Company does not undertake any obligation
to update or publicly release any revisions to such forward-looking statements
to reflect events, circumstances, or changes in expectations after the date
hereof, except as required by law. Accordingly, readers should not place undue
reliance on such forward-looking statements. 


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


FOR FURTHER INFORMATION PLEASE CONTACT: 
Glenn J. Mullan
Chairman, President, and CEO
Golden Valley Mines Ltd.
819.824.2808 ext. 204
[e-mail]