Golden Predator Royalty & Development Corp.
TSX VENTURE : GPD

Golden Predator Royalty & Development Corp.

July 21, 2009 14:59 ET

Golden Predator Signs Option on Antimony Gold Property in the Yukon Territory

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 21, 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 has signed a Property Option Agreement with Ryanwood Exploration Inc. and True North Mining Corp., the Company's wholly-owned Yukon subsidiary, pursuant to which True North can acquire a 100% interest in the Antimony Gold Property located in the Dawson Mining District in the Yukon Territory.

The Antimony Gold Property consists of 364 mining claims covering approximately 7,430 acres. The Property 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 mineralization on the Property is related to a mid-Cretaceous, Tombstone intrusive. This age of intrusive activity in the central Yukon and Alaska is related to numerous occurrences of gold mineralization including that found at Fort Knox, Pogo, Dublin Gulch, Freegold Mountain and the Company's projects at Brewery Creek and Gold Dome. The exploration targets at Antimony include proximal epithermal gold mineralization in high grade veins as well as broadly disseminated or stockwork zones within the alteration halo at the upper contact of the intrusive.

"With high grade veins and large untested soil geochemical anomalies, the Antimony Gold Property provides Golden Predator Royalty & Development Corp., through its subsidiary True North Mining Corp, a third premier opportunity to discover a multi-million ounce gold deposit in the emerging Tintina Gold Trend in the Yukon," said William M. Sheriff, Chairman and CEO of the Company.

Ryanwood is headed by Yukon prospector Shawn Ryan and credited with the discovery of Underworld Resources' (TSX VENTURE:UW) White Gold property.

In order to exercise the option, True North must incur exploration expenditures on the property totaling $3,500,000 by December 31, 2013, and pay to Ryanwood $1,000,000 and up to 1,700,000 common shares of the Company in stages ending July 7, 2016. Exploration expenditures of $750,000, payments of $150,000 and the issuance of 200,000 shares are firm commitments of True North. The remaining 1,500,000 shares to be issued are subject to a maximum value of $2,500,000, calculated at the time of issue. Ryanwood will retain a 4% net smelter returns royalty, and $500,000 of the $1,000,000 cash payments required under the option will be advance royalty payments which will be credited against any royalty payments due. True North may, at its option, pay the advance royalty payments in Company common shares and may repurchase up to 3% of the royalty for $3,000,000. The agreement is subject to regulatory approval.

Dr. Art Ettlinger, P.Geo. & President of True North is the Qualified Person for the Antimony 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
    Chairman
    (867) 335-5000
    or
    Golden Predator Royalty & Development Corp.
    Robert Eadie
    President
    (604) 602-4935
    www.goldenpredator.com