Golden Bridge Mining Corporation announces closing of first tranche of non-brokered flow-through private placement

TSX VENTURE EXCHANGE: GBM

TORONTO, Aug. 31, 2012 /CNW/ - Golden Bridge Mining Corporation ("Golden Bridge") (TSX-V: GBM), is pleased to announce that is has closed the first tranche of its non-brokered private placement financing through the sale of 518,286 common shares on a flow-through basis (the "Flow-Through Shares") at a price of $0.28 per Flow-Through Share for gross proceeds to Golden Bridge of approximately $145,120.

Golden Bridge intends to use the proceeds of the private placement for mineral exploration on its Hébécourt project in Québec.  Golden Bridge will pay a finders' fee of 8% of the gross proceeds of the private placement to certain persons who are at arm's length to Golden Bridge in connection with the private placement.

The Flow-Through Shares are subject to statutory resale restrictions until January 1, 2013. Closing of the second and final tranche of the financing is expected to occur on or before September 14, 2012 and remains subject to receipt of regulatory approval, including final approval of the TSX Venture Exchange.

About Golden Bridge

Golden Bridge, formerly a capital pool company named Greater China Capital Inc., was incorporated under the laws of the Province of Ontario and is engaged in mineral exploration on mineral claims known as the Hébécourt project in the province of Québec.

READER ADVISORY

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Statements in this press release may contain forward-looking information. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expects" and similar expressions. Forward-looking information in this press release includes terms and conditions of the qualifying transaction and associated transactions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Golden Bridge. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this press release are made as of the date of this press release, and Golden Bridge does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES.

ON BEHALF OF THE BOARD

"Charles Qin"

Charles Qin, Chief Executive Officer and Director

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 release.

SOURCE: Golden Bridge Mining Corporation

Golden Bridge Mining Corporation
Charles Qin, Chief Executive Officer and Director
1020 Denison Street,
Suite 200,
Markham, Ontario, Canada
L3R 3W5

Telephone: [phone]
Facsimile:  [phone]