Golden Predator Receives Major Exploration Permit for Brewery Creek
Vancouver, Canada— July 23,
2012:Golden Predator Corp.(TSX:GPD) (the “Company”) is pleased to announce that it has obtained final
approval and issuance, from the Yukon Government’s Energy, Mines & Resources Department, for a Class 4
Mining Land Use permit(Class 4 Permit)on its flagship Brewery Creek Project. The Class 4 Permit provides
for expansion of exploration activities across the more than 180square kilometer Brewery Creek Project.
This exploration permit is in addition to the pre-existing Water and Quartz Mining License affecting
portions of the Project area.
“This permit will allow Golden Predator to expand our exploration
program, drill test a number of untested targets, delineate our new discoveries while at the same time
moving forward towards restarting the Brewery Creek mine through the process of amending our existing
Quartz Mining License,” said William M. Sheriff, Chairman & CEO. “Our ability to access and fully drill
test these new discoveries creates the opportunity for Brewery Creek’s resources to grow, ultimately
supporting a longer term operation.”
Authorized Activities under the Class 4 Permit include:
expansion of drilling activities up to and including 8 drill rigs operating simultaneously (1500 reverse
circulation holes and 1500 diamond core holes);
• the construction and use of up to 61 KM of new
access roads across the Project;
• the expansion of the existing 45 person camp facility to a 120
person camp facility;
• the use and operation of vehicles exceeding 40 tonnes on existing roads;
• expanded fuel storage capacity;
• the expansion of mechanized trenching up to 12,000
Brewery Creek Project Overview
Brewery Creek hosts NI 43-101 compliant resources of 581,000
indicated gold ounces in 20.417 million tonnes at 0.89 g/t and 346,000 inferred gold ounces in 12.990
million tonnes at 0.83 g/t (Barr, 2012; GPD NR 12-20 June 18, 2012). The Company anticipates publishing
an updated resource estimate incorporating the current year’s drilling later in the year.
Creek Project is a past producing heap leach gold mining operation with a total of 278,484 oz Au
produced from seven near-surface oxide deposits along the property's Reserve Trend from 1996 through
2002, when the mine (operated by Viceroy Resource Corporation) shut down primarily dueto low gold
prices. The181 km2property is located 55 km due east of Dawson City, accessible by paved and gravel
roads from the junction of the North Klondike and Dempster Highways.
The Project is in receipt of
all necessary permits required to conduct additional exploration. The Brewery Creek Project holds a Type
A Water License with an expiry date of December 31, 2021, subject to the restrictions and conditions
contained in the Yukon Water Act and Regulations. The Project also holdsa Quartz MiningLicense (QML)
with an expiry date of December 31, 2021.The Company is working to amend the Water License and the QMLto
incorporate mine planning and design studies which are currently underway.In addition, a restated and
amended Socio-Economic Accord withTr’ondek Hwech’in First Nation with respect to the Brewery Creek
Project is in place
The technical content of this news release has been reviewed and approved by
Michael Maslowski, BSc, CPG, the Company's Chief Operating Officer and a Qualified Person as defined by
National Instrument 43‐101.
About Golden Predator Corp.
Golden Predator Corp., Yukon’s Gold
Company, is mandated to become a mid-tier gold producer. Golden Predator’s road-accessible advanced
properties include its flagship Brewery Creek Project as well as its Grew Creek and Clear Creek
Projects. Golden Predator is committed to moving aggressively to a near term production decision while
expanding the existing NI 43-101-compliant resource at Brewery Creek.
Golden Predator has one of the
largest controlled land positions in the Yukon, with exploration holdings in excess of 1.0 million
acres, and is committed to strong relationships with First Nations and communities. Golden Predator’s
highly skilled management and technical teams continue to lead quality exploration programs in the
underexplored regions of the Yukon, focused on advancing new discoveries and leaving a positive
For additional information:
Golden Predator Corp.
William M. Sheriff, Chairman & Chief
(604) 648-GOLD (4653)
exchange, securities commission or other regulatory authority has approved or disapproved the
information contained herein. This press release contains projections and forward-looking information
that involve various risks and uncertainties regarding future events. Such forward-looking information
can include without limitation statements based on current expectations involving a number of risks and
uncertainties and are not guarantees of future performance. There are numerous risks and uncertainties
that could cause actual results and Golden Predator's plans and objectives to differ materially from
those expressed in the forward-looking information. Actual results and future events could differ
materially from those anticipated in such information. These and all subsequent written and oral
forward-looking information are based on estimates and opinions of management on the dates they are made
and are expressly qualified in their entirety by this notice. Except as required by law, Golden Predator
assumes no obligation to update forward-looking information should circumstances or management's
estimates or opinions change.