Golden Predator Royalty & Development Corp.

Golden Predator Royalty & Development Corp.

July 27, 2009 13:59 ET

Golden Predator Royalty & Development Corp.: Drilling Commences at Gold Dome Project, Yukon Territory

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 27, 2009) -


Golden Predator Royalty & Development Corp. (TSX VENTURE:GPD) (the "Company") announces that it has commenced diamond drilling at its Gold Dome Project, located in the Mayo Mining District, Yukon Territory. This drilling marks the first holes drilled by True North Mining Corp., the Company's wholly-owned Yukon subsidiary, at Gold Dome and is intended to expand on known areas of high grade gold mineralization identified through previous diamond drilling and trenching.

The first target to be drilled is the Toby area on the south side of Highet Creek, a long-active placer gold mining center in the area. Trenching by Riverside Resources Inc. in 2006 on a gold-arsenic-bismuth soil anomaly identified highs of 14.9 gm/t and 8.0 gm/t gold in grab samples from two separate trenches and chip samples as high as 8.9 gm/t gold over 1 m. The trenches are underlain by near surface IP anomalies, and the Toby area has never been drilled.

The second target to be drilled is the Tom zone, across Highet Creek from Toby. Drilling in 2003 by Golden Patriot Mining Inc. within a large gold-bismuth-arsenic soil anomaly identified a limey unit in the Hyland Group schists that displays weak skarn alteration and high grade gold values. Of the five diamond drill holes completed in the Tom zone, hole SH03-30 returned the best intercept of 7.09 gm/t over a drilled width of 6.4 metres. This gold mineralization has not been followed up by drilling or other subsequent exploration. True North intends to offset the mineralization identified in hole SH03-30 and to work to expand the skarn alteration zone identified at Tom.

Dr. Art Ettlinger, P.Geo. & President of True North is the Qualified Person for the Gold Dome Project and is responsible for the technical content of this news release.

About Golden Predator Royalty & Development Corp.

Golden Predator's corporate mandate is focused on establishing early high grade precious metals production in Nevada while aggressively exploring and developing world class gold deposits in the Yukon region of the Tintina Gold Trend.

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. The Company intends, through its strategic use of its Taylor Mill near Ely, Nevada and a facilities use agreement at EMC Metals Corp.'s Springer Facility in Pershing County, Nevada, to become a mid-tier precious metals producer. In the Yukon, the Company is aggressively exploring the Gold Dome, Brewery Creek, and Antimony projects in the prolific Tintina Gold Trend through its wholly owned subsidiary True North Mining Corp.

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
    (867) 335-5000
    Golden Predator Royalty & Development Corp.
    Robert Eadie
    (604) 602-4935