Golden Predator Royalty & Development Corp.
TSX VENTURE : GPD

Golden Predator Royalty & Development Corp.

August 06, 2009 14:11 ET

Golden Predator Completes Technical Report on the Adelaide Project, Nevada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 6, 2009) - Golden Predator Royalty and Development Corp. (TSX VENTURE:GPD) (the "Company") announces that it completed a National Instrument 43-101 compliant technical report on its Adelaide Project located in Humboldt County, Nevada. The technical report summarizes all past exploration, including the successful exploration results from the Company's 2008-09 drilling program, where several +1 oz/t Au intercepts were intersected.

Potential for high grade, bonanza vein-style system has been demonstrated in recent drilling and a proposed work plan consisting of detailed mapping, compilation work, RC and diamond drilling, as well as 3D modeling is designed to advance the Project to an anticipated National Instrument 43-101 compliant resource category. This next phase of work is budgeted to cost $730,000 with delineation drilling planned to commence in late 2009 on the Margarite vein corridor and extensions of the Crown vein. The report will be filed on SEDAR (www.sedar.com) in the next 45 days.

Travis Schwertfeger, P.Geo. Exploration Manager for Golden Predator Mines US Inc., the Company's wholly-owned Nevada subsidiary, is the Qualified Person for the Adelaide Project and is responsible for 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 and developing gold deposits in the Yukon region of the Tintina Gold Trend. 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 the TSX Venture Exchange nor its Regulation Services Provider 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