Golden Predator Royalty & Development Corp.
TSX VENTURE : GPD

Golden Predator Royalty & Development Corp.

September 08, 2009 14:35 ET

Golden Predator Royalty & Development Corp.: Drilling Initiated at Antimony Mountain

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 8, 2009) - Golden Predator Royalty & Development Corp. (TSX VENTURE:GPD) (the "Company") announces that diamond drilling has commenced at its Antimony Mountain Project. The Company, through its wholly-owned subsidiary True North Mining Corp., plans to drill up to 7 holes to intersect a high-angle gold-bearing quartz-tourmaline vein at the AJ-showing. Previous surface sampling and historic limited diamond drilling on the vein have returned values as high as 77.7 gm/t (2.27 oz/t) gold (Logan Resources Ltd. News Release dated November 20, 2006 posted at www.sedar.com).

The Antimony Mountain Project is located in the west-central Yukon Territory approximately 65 km east of Dawson City and 25 km north of the Company's Brewery Creek Project. The property is underlain by Proterozoic metasedimentary rocks of the Hyland Group including rusty weathering gritty quartzite, sandstone, and greywacke with minor interbeds of limestone, calcareous sandstone, shale, and slate. These rocks are intruded by monzonitic rocks of the Antimony Mountain intrusion which is similar to other mid-Cretaceous Tombstone Plutonic Suite rocks associated with gold mineralization at Fort Knox and Pogo in Alaska and in the Yukon at Dublin Gulch, Freegold Mountain and the Company's Brewery Creek and Gold Dome Projects. The AJ vein appears as a banded quartz-tourmaline-arsenopyrite vein cutting meta-greywacke and its exposure is located within approximately 200 m of a contact with the Antimony Mountain intrusive. Please refer to the Company's July 21, 2009 news release for additional information on the Antimony Mountain Project.

Dr. Art Ettlinger, P.Geo. & President of True North is the Qualified Person for the Antimony Mountain Project and has reviewed the technical content of this news release.

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.

The Company is aggressively exploring its three Yukon properties, Gold Dome, Brewery Creek, and Antimony Mountain, in the prolific Tintina Gold Belt through its wholly owned subsidiary True North Mining Corp. Brewery Creek has a current Type A water license and a production license.

In Nevada and adjacent states, Golden Predator is drilling 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 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