Golden Predator Royalty & Development Corp.
TSX VENTURE : GPD

Golden Predator Royalty & Development Corp.

August 14, 2009 14:00 ET

Golden Predator Royalty and Development Corp.: Drilling Initiated at Brewery Creek and Angel's Camp

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 14, 2009) - Golden Predator Royalty and Development Corp. (TSX VENTURE:GPD) (the "Company") announces that its wholly-owned Yukon subsidiary, True North Mining Corp., has commenced drilling on its Brewery Creek Gold Project located 55 km east of Dawson City, Yukon.

Initial holes will be drilled to the east of the previously mined Pacific area where the down dip extension of near-surface gold mineralization has not been tested. At the Blue zone, drilling will test an interpreted fault for its potential as a feeder-structure to host deeper sulphide mineralization. Drilling on a third target in the North Slope area is designed to test a deep sulphide target in the core of an overturned syncline.

Gold mineralization was mined from oxide ore at Brewery Creek from seven near-surface deposits. A total of 279,541 ounces of gold were produced from 1996 through 2002 from 9.7 million tonnes of ore grading 1.44 g/t Au.

True North's president, Dr. Art Ettlinger observed: "The opportunity for us at Brewery Creek is to identify and develop deeper gold ore bodies associated with sulphide-bearing structures that would have escaped the historic exploration for oxide mineralization at depths of less than 50 m as well as expand on known oxide resources that were not economic at the time of mine closure in 2002 when gold was less than $350 per ounce."

The Company also announces that RC drilling has commenced on its Angel's Camp Project in Lake County, Oregon. This drilling is intended to expand on the Angels Camp vein: a partially defined zone of high grade gold mineralization identified through previous rotary and diamond drilling. Quincy Energy Corp., a predecessor company to Golden Predator and signatory to the original Quartz Mountain agreement, intersected gold mineralization grading up to 1.735 oz/t Au and 3.00 oz/t Ag in banded epithermal quartz veins over a drilled interval of 5.5 feet (see Quincy Energy Corp. NR dated January 20, 2005 posted at www.sedar.com).

Dr. Art Ettlinger, P.Geo. & President of True North is the Qualified Person for the Brewery Creek Project and is responsible for the technical content of this news release as it pertains to that project. Dave Hembree, P. Geo. is the Qualified Person for the Angel's Camp Project and is responsible for the technical content of this news release as it pertains to that Project.

About Golden Predator Royalty & Development Corp.

Golden Predator's corporate mandate is to establish a self-funded precious metal exploration company with an immediate focus on exploring for and developing world class gold deposits in the Tintina Gold Belt and the Rocky Mountain Alkalic Gold Province. The Company seeks internal revenue generation from early high grade precious metals production in Nevada augmented by increasing revenues from its royalty portfolio.

In the Yukon, in 2009 the Company is aggressively exploring its three Yukon properties, Gold Dome, Brewery Creek, and Antimony, in the prolific Tintina Gold Trend through its wholly owned subsidiary True North Mining Corp. Brewery Creek currently is authorized under mining leases, a Type A water license and a production license.

In Nevada, Golden Predator is planning to drill a number of its properties with bonanza-style gold mineralization in 2009 with the intent of identifying 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.

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