SOURCE: Golden Predator Mining Corp.

Golden Predator Mining Corp.

November 21, 2016 08:00 ET

Golden Predator Discovers New Veins Up to 30.8 g/t Gold; Airborne Geophysics Completed at 3 Aces

VANCOUVER, BC--(Marketwired - November 21, 2016) - Golden Predator Mining Corp. (TSX VENTURE: GPY)(OTCQX: NTGSF) (the "Company") is pleased to announce additional surface exploration results and the results of airborne geophysical surveys from ongoing work at the 3 Aces project in southeastern Yukon, Canada. Highlights include:

  • Seven of Spades -- Newly discovered zone with stacked flat lying quartz veins returning values up to 18.55 g/t gold;
  • Queen of Spades -- Newly discovered zone with values up to 30.8 g/t gold;
  • Jack of Spades -- Additional results from continuous panel sampling of a second higher bench returned 20 m of 7.62 g/t gold including 11.7 g/t gold over 12.4 m and 37.9 g/t gold over 1.7 m;
  • Three of Spades -- Additional assays have increased strike length of vein with returns including 6.95 g/t gold.

To view the 3 Aces project maps please visit: http://goldenpredator.com/_resources/images/maps/3Ace_SpadesMaps_20161116.pdf

3 Aces Sampling Program Overview

A total of over 800 composite grab, chip, channel and panels samples were collected within the 10km2 Central Core Area of the 225 km2 3 Aces property between August 1st and October 20th , 2016. Results are now being reported for 350 sample results received since the previous news release of November 2nd, 2016. Of the 350 samples seven (7) have values greater than 15 g/t gold, one (1) had a value between 10-15 g/t gold, twenty (20) had values between 5-10 g/t gold and seventy-two (72) had values greater than 1.0 g/t gold.

Road building, trenching and sampling targeting areas of high gold-in-soil anomalies will continue in the spring of 2017.

Seven of Spades

The newly discovered Seven of Spades zone is composed of a series of flat lying stacked quartz veins, high angle quartz veins and steeply dipping fracture/fault zones. The three highest values of 18.55, 17.05 and 16.8 g/t gold were from flat lying quartz veins, two of which contained visible gold. The veins are hosted in shale and cut bedding at various angles, individual vein thicknesses range up to 1.0 m.

Queen of Spades

The newly discovered Queen of Spades zone consists of several quartz veins lying subparallel to the hillside. Six samples returned values over 5.0 g/t gold with the highest grade sample returning 30.8 g/t gold. Fifteen of twenty-four panel samples returned values greater than 1.0 g/t gold. Visible gold has been identified in the largest of these veins and in the northernmost vein.

Jack of Spades

The previously announced Jack of Spades zone consists of several sets of quartz veins of various orientations including east-west, northeast and north south. Additional sampling has returned values up to 8.65 g/t Gold from panel sampling of the newly exposed extension of the east-west trending vein. The northeast striking vein set consists of several individual veins up to a maximum apparent thickness of 1.7 m. The thickest vein returned 37.9 g/t gold from a panel sample and contained visible gold. Previous sampling of this vein on the lower discovery bench returned a value of 64.3 g/t gold over 1.5 m.

Three of Spades

The previously announced Three of Spades zone is a gold bearing vertical fault zone with a north-easterly strike. Trenching has exposed the zone over 180 m and all trenches returned panel samples greater than 1.0 g/t gold. Five additional trenches were excavated across the zone with a total of forty-three panel samples collected of which twenty returned values greater than 1.0 g/t gold with a maximum values of 6.95 g/t gold. The zone consists of crushed quartz, shale, grits, iron oxides and minor arsenopyrite.

Ace of Spades

The Ace of Spades is the location of the 2016 bulk sample, reverse circulation drilling and previously reported sampling. The footwall to the Ace of Spades extension vein was sampled where a zone of fractured and disrupted quartz veining was exposed. Three 2 m channel samples were collected and returned values of 8.62, 13.4 and 3.88 g/t gold respectively.

Airborne Geophysics

The Company completed a geophysical airborne magnetic/radiometric survey over the entire 3 Aces project to aid in understanding structure, rock types and alteration. Interpretation of the data indicates that two types of intrusions underlie the property at depth. To date, only one type of intrusive rock has been identified in mapping on the property. A total of 2,652 line km were flown at a line spacing of 100 m. Additional data review and interpretation was conducted by JL Wright Geophysics.

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. Many veins discovered are characterized by coarse gold. The property is located along the all-season Nahanni Range Road which accesses the Cantung Mine located 40 km to the north.

Discovered in 2009 with coarse gold in quartz veins at surface, the 3 Aces project had extensive soil sampling and initial core drilling by the previous operator which outlined extensive gold-in-soil anomalies over a Central Core Area of 10.5 km2, including two high grade gold in quartz veins that contain coarse gold. Previous exploration work by Golden Predator in 2015 and 2016, which includes metallurgical studies, rotary air blast (RAB) drilling, RC drilling and bulk sampling, has 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 has confirmed the high grades of the vein by establishing a sampling protocol that is 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, panel sampling, road construction and installation of a bridge over the Little Hyland River. The 3 Aces drill program, currently underway, is intended to test high grade mineralization exposed in a number of trenches along strike and down dip in the Ace of Spades zone and the Jack of Spades zone, and from additional mineralized veins in the Spades, Hearts and Clubs areas. Together, the Clubs, Diamond, Hearts and Spades areas encompass approximately 10.5 km2.

The 3 Aces drill program is targeted to complete approximately 4,500m of 5.5 inch diameter reverse circulation (RC) drilling and PQ Core drilling in Q4 2016. Drilling is expected to continue into December 2016 and increase to over 25,000 m in 2017.

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.

Sampling Methodology, Quality Control and Assurance

Where possible, mineralized exposures are sampled as composite panel or channel samples with sample weights averaging 5-10 kilogram (kg). All panel samples measure approximately 1 m2 across the veins or fault zones and are useful in providing a more comprehensive representation of mineralization. Panel samples are most representative of the various sample types followed by channel, composite grab, grab and select samples.

All analyses for the trench samples were performed by ALS with sample preparation in Whitehorse, Yukon or North Vancouver, BC., and assaying in North Vancouver, BC. All samples were analyzed by Screen Metallics Gold (Au-SCR24). The Screen Metallics Gold procedure collects a two kg split from each sample. The two kg pulp is passed through a 150 mesh screen and material remaining on the screen is analyzed in its entirety by fire assay with gravimetric finish. The undersize material is homogenized and duplicate 50 gram subsamples are analyzed by fire assay with AAS finish and averaged. The Plus and Minus fraction gold analyzes are weight averaged to obtain a final gold determination for the sample.

The technical content of this news release has been reviewed and approved by Mike Burke, P.Geo., a Qualified Person as defined by National Instrument 43-101 and Chief Geologist for the Company.

About Golden Predator Mining Corp.

Golden Predator Mining Corp., a well-financed Canadian gold mineral exploration company, is focused on advancing its high grade 3 Aces Project in Canada's Yukon. The 3 Aces property is a 225 km2 property consisting of 1,118 contiguous quartz claims (23,000 hectares) located in southeast Yukon. The quartz veins discovered to date are characterized by coarse visible gold.

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.

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