Golden Predator Completes 2016 Drill Program

VANCOUVER, BC--(Marketwired - December 15, 2016) - Golden Predator Mining Corp. (TSX VENTURE: GPY)(OTCQX: NTGSF) (the "Company") is pleased to announce the completion of the 2016 winter drilling program at its 3 Aces project located in southeast Yukon, Canada. The drill program consisted of 54 holes for a total of 4,315 meters (m), which included 3,776 m of reverse circulation drilling and 539 m of diamond core drilling. 52 of the 54 drill holes reached their targeted depths.

The 2016 drill program was completed between October 15^th and December 13^th and focused on the previously undrilled Clubs Zone, the Hearts Zone and included limited drilling at the Spades Zone. Drilling was initially concentrated on the Clubs and Hearts Zone, located at higher elevations, to take advantage of relatively mild early winter weather conditions. The assay results will be prepared for release in batches organized by zone starting early in 2017.

To view maps of the 3 aces project, and zones included in the 2016 drill program, please visit: http://goldenpredator.com/_resources/maps/3Ace_Maps_20161215.pdf

The 2017 drill program is expected to commence in February 2017 with a substantial 25,000 m of drilling planned. Drilling will initially focus on the Spades Zone, located at a lower elevation than the Clubs and Hearts Zone, then will expand to other areas of the property. The 3 Aces camp remains staffed with a small maintenance crew which will supervise the camp and site while undertaking minor camp renovations prior to the start of the 2017 drill program.

About 3 Aces

The 3 Aces property is a 225 km² property consisting of 1,118 contiguous quartz claims (23,000 hectares) located in southeast Yukon and includes the two highest grade surface outcrops discovered to date in the Yukon. The property is located along the all-season Nahanni Range Road which accesses the Cantung Mine located 40 km to the north. To date over 25 mineralized veins have been discovered through sampling, trenching and roadwork.

Visible gold in quartz veins at surface were discovered in 2009 on the property. The project was advanced with extensive soil sampling by the previous operator, which outlined significant gold-in-soil anomalies over a Central Core Area of 10.5 km², and helicopter supported core drilling. Previous exploration work by Golden Predator in 2015 and 2016, which includes metallurgical studies, rotary air blast (RAB) drilling, RC drilling and bulk sampling, focused on establishing the grade and continuity of the Ace of Spades vein where previous diamond drilling had intersected the vein but returned lower than expected grades. The work in 2015 and 2016 confirmed the high grades of the vein by utilizing a sampling protocol derived from the metallurgical studies that are resulting in a better estimation of gold grades within the veins.

The 2016 work program, commenced in August 2016, included airborne geophysics, soil sampling, trenching, geological mapping and sampling, road construction and installation of a bridge over the Little Hyland River.

The 3 Aces property is located in the traditional territory of the Kaska Nation. In January 2013, Golden Predator signed an Exploration Agreement with the Kaska Nation, as represented by the Ross River Dena Council and the Liard First Nation, with respect to activities within their traditional territories. The 3 Aces project operates under a Class 4 Mining Land Use Permit.

The technical content of this news release has been reviewed and approved by Mark C. Shutty, CPG, a Qualified Person as defined by National Instrument 43-101 and an employee of the Company.

About Golden Predator Mining Corp.

Golden Predator Mining Corp., a well-financed Canadian gold mineral exploration company is expanding surface discoveries, at its 3 Aces project in Canada's Yukon, through focused drilling. The 3 Aces property is a high-grade gold in quartz project with an exploration program underway that includes sampling, trenching, drilling and bulk sampling to define and interpret the project. The Company also holds the Brewery Creek project in Canada's Yukon.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains 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 that the private placement will complete as described herein, that the Project will advance through permitting and feasibility. 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, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.