Golden Valley Mines Ltd. reported on drilling activities for the company's Abitibi Greenstone Belt "Grassroots Exploration Project". Diamond Drill Programs: A first-phase diamond drilling program has been completed on the Lac Barry Prospect, located in the Urban-Barry Belt, Lebel-sur-Quévillon, Québec. The program consisted of eight drillholes, totaling 999-metres, testing two separate target areas (NE & SW grid areas) on the property separated by a distance of approximately 5 kilometres. The property is 100%-owned by Golden Valley. Previous government (Ministère des Ressources naturelles du Québec - "MRNQ", RG 2001-14) studies and historical exploration work on the property and surrounding area has identified gold mineralization in the Urban-Barry Belt to be spatially associated with regional NE-SW trending structures. Locally, at the property-scale, the southern most mapped regional fault is referred to as the Barry Fault. Along this fault, immediately to the northeast of the Lac Barry Prospect, lies the Eastern Extension deposit owned by Bonterra Resources Inc. In respect of same, Bonterra's disclosure documents state that an initial drill defined NI 43-101 inferred gold resource estimate of 492,000 ounces of gold has been calculated. The Lac Barry Prospect is underlain by mafic volcanic rocks intruded by quartz-feldspar porphyry dikes and plugs. The inferred southwest strike extension of the Barry Fault trends across the northern (NE grid area) and central (SW grid area) parts of the property and is associated with the Barry West Shear Zone that hosts the Lac Barry Gold Showing on the property. Historical exploration results on the showing include grab samples ranging up to 0.67 oz/t Au and a trench sample assay of 0.385 oz/t Au over 1.2-metres recorded in 1991 and, a drill intersection of 0.102 oz/t Au over a core length of 0.90 metres recorded in 1996 (MRNQ, GM 50285 & GM 54825). In addition to the gold potential on the property, volcanogenic massive sulphide mineralization has been identified over the southern sections of the NE grid area where massive sulphides hosting chalcopyrite (copper) mineralization was intersected in two separate holes in 1991, but had no base-metal assaying undertaken on the core (MRNQ, GM 47465). This occurrence is inferred to possibly represent a similar style of mineralization intersected in drilling (0.75% Cu over 0.18 metres) at the Lac Barry Ouest Showing along strike immediately to the NE of the property boundary (MRNQ, GM 38828). At the Perestroika West (Ouest) Prospect, a four (4) hole, 573-metre drill program was completed (Québec & Ontario Prospects Location Map: Au Prospect #38). The drill core is currently in the logging and sampling process and assay results will be released as they become available.

Golden Valley Mines Ltd. announced the adoption by its Board of Directors of an amendment to its by-laws to include advance notice provisions requiring that advance notice be given to the company in circumstances where a shareholder wishes to nominate a person for election as a director of the company. The purpose of the Advance Notice By-law is to ensure that all shareholders, whether participating in a meeting by proxy or in person, receive adequate notice of the director nominations to be considered at a meeting, thus allowing them to exercise their voting rights in an informed manner. In addition, the Advance Notice By-law should assist in facilitating an orderly and efficient meeting process, while providing a clear framework for the nomination of directors. Accordingly, the Advance Notice By-law fixes a deadline by which holders of common shares of the Company must submit director nominations to the Company prior to any annual or special meeting of shareholders and sets the minimum information that must be provided to the Company so as to ensure that notice is given in proper written form. The Advance Notice By-law as adopted by Golden Valley's Board is effective immediately and will be placed before the shareholders of the company for confirmation at the annual and special meeting of shareholders scheduled to be held in Montreal on June 12, 2013.

Golden Valley Mines Ltd. announced that drilling has started on the Perestroika West (Ouest) Prospect (Quebec & Ontario Prospects Location Map: Gold Target #38), located 40 kilometres northeast of Val-d'Or, Quebec. A four (4) hole, 575-metre diamond drill program (the "Program") is planned. The property is 100%-owned by Golden Valley. Assay results will be released as they become available. The objective of the Program is to test for the northwest strike extension of high-grade gold mineralization intersected in the "Uniacke Shear" and "Glasnost" showings on the adjacent Perestroika Prospect (Quebec & Ontario Prospects Location Map: Gold Target #37 - Golden Valley Mines Ltd., Integra Gold Corp. and Golden Cariboo Resources Ltd. Joint Venture), where drilling (2 holes) by Golden Valley in 2009 intersected 1.15 m averaging 59.52 g/t Au, including 0.30 m grading 217 g/t Au in GPS09-01 and 3.50 m averaging 18.08 g/t Au, including 3.05 metres averaging 20.69 g/t Au in GPS09-02. The 2009 drill program on the adjacent Perestroika Prospect identified gold mineralization hosted in variably sheared, mylonitized and altered sequence of metavolcanic mafic rocks, intruded by a series of quartz-diorite intusions. High-grade gold mineralization is hosted in late quartz-carbonate veins that may contain visible gold. Initial exploration work on the "Uniacke Shear" and "Glasnost" showings dates back to 1937-38 by Heva-Cadillac Mines Ltd. The results of this work established the presence of gold mineralization associated with a structural corridor of intense deformation and alteration within the WNW-trending Uniacke Deformation Corridor that is inferred to be the eastern strike extension of the prolific Destor-Porcupine Deformation Zone extending from Timmins, Ontario.