Golden Valley Mines Qualifies for Upgrade to the OTCQX Best Market

Val-d'Or, Québec--(Newsfile Corp. - June 1, 2020) -   Golden Valley Mines Ltd. (TSXV: GZZ) (OTCQX: GLVMF) ("Golden Valley" or the "Company") announces that it has qualified to trade on the OTCQX Best Market via OTC Markets. OTC Markets Group is the operator of financial markets for 10,000 U.S. and global securities. Golden Valley upgraded to OTCQX from OTCQB Venture market.

Golden Valley begins trading today on OTCQX under the symbol "GLVMF." U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on www.otcmarkets.com.

The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market from the OTCQB Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.

"We are thrilled with this enhancement to our OTC Markets profile, upgrading from the OTCQB Venture Market to the OTCQX Best Market. We see this as the logical next step in our evolution, and look forward to gaining more market awareness in the USA. The Company continues to assess marketing strategies to increase exposure and liquidity," said President/CEO Glenn J. Mullan of Golden Valley Mines.

About Golden Valley Mines Ltd.: Golden Valley Mines is focused on project generation and continues to evaluate opportunities to enhance its mining exploration property and NSR royalty portfolio. The Company is able to explore and develop its current property assets by way of partner-funded option/joint ventures and through its shareholdings in related entities. The Company has a balanced and diversified property portfolio inclusive of precious and base metals, largely concentrated in Québec and Ontario, Canada.

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 Corporation 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 Corporation's management on the date the statements are made. Except as required by law, the Corporation 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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