Golden Predator Royalty & Development Corp.
TSX VENTURE : GPD

Golden Predator Royalty & Development Corp.

July 14, 2009 08:00 ET

Golden Predator Announces Proposed $1,500,000 Flow-Through Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 14, 2009) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES

Golden Predator Royalty & Development Corp. (TSX VENTURE:GPD) (the "Company") announces that it will conduct on a best-efforts basis, a non-brokered flow-through private placement of up to 3,000,000 flow-through common shares at a price of $0.50 per share for gross proceeds to the Company of $1,500,000.

The Company is also pleased to announce that it has entered into a non-brokered private placement transaction with Evolving Gold Corp. (TSX VENTURE:EVG) pursuant to which EVG has agreed to subscribe for 1,000,000 non-flow through units at a price of $0.50 per unit, for gross proceeds to the Company of $500,000. Each unit will consist of one non-flow through share and one warrant exercisable for an additional non-flow through share at a price of $0.75 for a period of 18 months from closing. The investment by Evolving Gold in the Company is part of Evolving Gold's strategic initiative to deploy capital in near term production opportunities where management is of a high calibre and has a proven track record.

The proceeds of the flow-through private placement will be used to fund the 2009 exploration programs on the Company's Yukon exploration properties, and the proceeds of the non flow-through private placement will be used for general working capital purposes. The private placements are subject to receipt of all required regulatory approvals.

About Golden Predator Royalty & Development Corp.

Golden Predator is focused on becoming a mid-tier precious metals producer in Nevada through the strategic use of its Taylor milling facility near Ely, Nevada along with a facilities use agreement at EMC Metals' Springer Facility in Pershing County Nevada which is adjacent to Predator's Humboldt mill site.

In addition, the Company is aggressively exploring the Gold Dome and Brewery Creek projects in the prolific Tintina Gold Trend of the Yukon Territory through its wholly owned subsidiary True North Mining Corp. In Nevada, Golden Predator is planning to drill a number of its bonanza gold and silver projects in 2009 with the mandate to identify one or more properties for near term production of small-tonnage high grade ores.

Golden Predator is partially self-financed through its passive pre-production royalty stream from a portfolio of properties, anticipated to yield approximately $1.2 million during 2009. The Company owns royalties on several known deposits including a portion of the Barrick Bald Mountain property, the Pan deposit of Midway Gold, significant portions of US Gold's Tonkin Springs deposit and Evolving Gold's Rattlesnake project.

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.

Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Golden Predator Royalty & Development Corp.
    William Sheriff
    Chairman
    (867) 335-5000
    or
    Golden Predator Royalty & Development Corp.
    Robert Eadie
    President
    (604) 602-4935
    www.goldenpredator.com