Golden Predator Royalty & Development Corp.

Golden Predator Royalty & Development Corp.

June 19, 2009 14:22 ET

Golden Predator Begins Drilling at Golden Ridge Project in Modoc County California and Grants Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 19, 2009) -


Golden Predator Royalty & Development Corp. (TSX VENTURE:GPD) is pleased to announce that it has commenced drilling on its Golden Ridge project located on the Nevada border in northeastern California. The drilling is designed to target epithermal bonanza style mineralization contained in a series of veins occurring along a strike distance in excess of 2 miles (3.2 kms). The Sunshine vein is the first of several vein targets to be drilled, where approximately 2400 ft (730 m) of strike extent that has been traced out on surface is being tested. Multiple vein zones are being intersected down-hole, and the Sunshine vein itself has been intersected at depths up to 150 ft (45 m). All analytical results are pending.

The Company has granted 1,108,975 incentive stock options to directors, officer, employees and consultants at an exercise price of $0.55 per share pursuant to the Company's Stock Option Plan. The stock options expire on June 16, 2014 and vest in four equal portions every six months beginning December 16, 2009. The Company has also issued 50,000 shares to Seabridge Gold Corporation pursuant to the Option Agreement on the Company's Angel's Camp property.

Travis Schwertfeger P.Geo., Exploration Manager for Golden Predator Mines U.S. Inc., is the Qualified Person for the Golden Ridge Project and is responsible for the technical content of this news release.

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 and through a facilities use agreement at the Springer Facility with its sister company, EMC Metals Corp. Golden Predator is moving forward on several of its 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. In addition, Golden Predator is partially self-financed through its passive royalty stream from a portfolio of properties, anticipated to yield approximately $1.2 million at current gold prices for 2009. To augment its Nevada production focus, Golden Predator has launched a wholly owned subsidiary, True North Mining Corp., which is mandated to acquire, explore and develop large intrusive-related gold deposits in the prolific Tintina Gold Trend running through Alaska, the Yukon Territory, and northern British Columbia.

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 of Golden Predator, including but not limited to negotiating & executing binding legal agreement containing the terms and condition of the Letter of Intent. 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, including the inability to finalize a biding option and joint venture agreement, failure to obtain exchange approval or the inability to exercise the options granted for any reason. 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
    (867) 335-5000
    Golden Predator Royalty & Development Corp.
    Robert Eadie
    (604) 602-4935