Golden Predator Mines Inc.
TSX : GP

Golden Predator Mines Inc.

June 26, 2008 09:30 ET

Golden Predator Intersects 0.390% Mo Over 14.1 Feet and 0.743% WO3 Over 4.62 Feet in Surface Drilling at the Springer Mine

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 26, 2008) - Golden Predator Mines Inc. (TSX:GP) is pleased to report it has intersected high grade tungsten and molybdenum mineralization in near-surface drilling at its wholly-owned Springer tungsten project in Pershing County, NV. Tungsten assay highlights include: 0.759% WO3 over 4.20 feet (1.28 m) including 1.10% WO3 over 2.52 feet (0.77 m) in SMC-042 and 0.421% WO3 over 13.86 feet (4.23 m) including 0.743% WO3 over 4.62 feet (1.41 m) in SMC-060. Molybdenum assay highlights include 0.390% Mo over 14.08 feet (4.29 m) including 1.08% Mo over 3.84 ft (1.17 m) in SMC-043 and 0.115% Mo over 5.46 feet (1.66 m) in SMC-061, all intervals true thickness.

Golden Predator has been drilling near-surface tungsten mineralization in three separate areas on the Springer property since late 2007. The drill holes reported here come from the South Sutton area on private lands held by the Company. Additional assays from this area were reported earlier by the Company in news releases dated April 30, 2008, June 5, 2008 and June 16, 2008.

The company is currently investigating the source of the high molybdenum assays which occur in scheelite bearing skarn. Molybdenum at Springer occurs in powellitic scheelite and as molybenite, with the latter being the source of recoverable molybdenum at Springer.

William Sheriff, President and CEO of Golden Predator, stated: "The identification of new areas hosting high grade molybdenum and tungsten mineralization substantially enhance the profile of the Springer Project. We look forward to further drilling in these areas to delineate the extent of this mineralization."

The tungsten values reported here in the following table, along with those reported earlier by Golden Predator, compare favorably with the average historic tungsten grade reported in the historical resource for Springer of 3.59 million tons grading 0.446% WO3 reported by the General Electric Company in March 1983 and cited in Golden Predator's previous news release dated April 28, 2007. These intercepts are not included in the historic estimates and represent additional opportunities for resource enhancement.

Drilling is continuing at Springer with two reverse circulation drill rigs working in the historic George beds and at the Sutton Footwall zone in the Uncle Sam area, both areas of significant historic open pit mining.



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Springer Project Drill Highlights
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True
Drill Hole # From, ft To, ft Thickness, ft WO3, % Mo, %
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SMC-042 222 232 4.2 0.695 0.096
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including: 222 224 0.84 0.938 0.198
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224 226 0.84 1.210 0.128
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226 228 0.84 0.827 0.068
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228 230 0.84 0.399 0.035
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230 232 0.84 0.103 0.049
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SMC-043 86 110 14.08 0.054 0.390
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including: 86 88 1.28 0.280 2.410
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88 90 1.28 0.028 0.484
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90 92 1.28 0.060 0.351
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92 94 1.28 0.019 0.137
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94 96 1.28 0.053 0.120
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96 98 1.28 0.025 0.092
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98 100 1.28 0.011 0.130
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100 102 1.28 0.060 0.112
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104 106 1.28 0.005 0.098
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106 108 1.28 0.023 0.152
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108 110 1.28 0.026 0.201
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SMC-045 30 32 1.82 0.034 0.190
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SMC-045 32 40 7.28 0.343 0.037
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including: 32 34 1.82 0.254 0.106
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34 36 1.82 0.443 0.020
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36 38 1.82 0.493 0.013
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38 40 1.82 0.183 0.011
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SMC-045 112 114 1.82 0.839 0.007
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SMC-045 114 116 1.82 0.095 0.005
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SMC-052 70 80 7.70 0.370 0.029
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SMC-052 70 72 1.54 0.288 0.009
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SMC-052 72 74 1.54 0.257 0.031
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SMC-052 74 76 1.54 0.147 0.051
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SMC-052 76 78 1.54 1.015 0.016
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SMC-052 78 80 1.54 0.141 0.036
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SMC-059 98 106 5.12 0.392 0.053
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SMC-059 98 100 1.28 0.314 0.093
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SMC-059 100 102 1.28 0.154 0.028
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SMC-059 102 104 1.28 0.620 0.020
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SMC-059 104 106 1.28 0.481 0.071
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SMC-060 68 86 13.86 0.421 0.033
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including: 68 70 1.54 0.347 0.009
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70 72 1.54 0.255 0.026
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72 74 1.54 0.350 0.032
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74 76 1.54 0.133 0.073
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76 78 1.54 0.570 0.047
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78 80 1.54 1.210 0.033
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80 82 1.54 0.448 0.021
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82 84 1.54 0.014 0.017
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84 86 1.54 0.461 0.039
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SMC-061 48 54 5.46 0.032 0.115
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including: 48 50 1.82 0.050 0.026
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50 52 1.82 0.021 0.249
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52 54 1.82 0.024 0.070
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Laboratory Analysis and QA/QC

ALS CHEMEX of Reno, NV performed all primary lab analyses. Their sample preparation procedure is described in Golden Predator's news release of April 30. The QA/QC procedures being followed by the Company for reverse circulation drilling are those recommended by William R. Gilmour of Discovery Consultants of Vernon, BC in their report dated Feb. 11, 2008 entitled: "Proposed Sample Preparation and Analytical Procedures and Proposed Quality Control / Quality Assurance Programs for a RC Drill Program Springer Property for Golden Predator Resources Inc."

Chip samples are collected at the drill on two-foot sampling intervals. All of the drilled material is recovered. Each sample for which scheelite is noted using an ultraviolet light, along with an appropriate buffer zone on each side of the mineralized sample, is sent to the ALS Chemex sample preparation facility in Winnemucca, NV. After ALS Chemex pulverizes the samples, they are returned to Springer where they are repackaged and relabeled. Prior to resubmitting the samples to ALS Chemex for analysis at their Vancouver laboratory, two tungsten standards, one of which is a blank, as well as a duplicate split pulp sample are inserted along with the pulped samples with one standard, one blank and one duplicate submitted at a minimum for every twenty samples.

Information presented here on QA/QC procedures and historical resource estimates was reviewed and approved by Art Ettlinger, Ph.D., P. Geo., the CTO of the company and a Qualified Person as defined under National Instrument 43-101. All historical resource estimates quoted herein are based on prior data and reports obtained and prepared by previous operators and certain other information. The historical estimates should not be relied upon. No qualified person (as defined by NI 43-101) has done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Golden Predator has not completed the work necessary to verify the classification of the mineral resource estimates and is not treating the historical estimates as current mineral resources or mineral reserves as defined in sections 1.2 and 1.3 of NI 43-101. Further work will be required to evaluate these resource estimates.

Golden Predator is a tungsten and gold mining company focused on mineral development in Nevada and surrounding states. The company intends to augment its dominant position in the domestic tungsten business through high grade gold development and production. Its current principal project is the Springer Facility, a 1,000 ton per day mine and mill complex built by the General Electric Company between 1979 and 1982. While it had a 13-year mine life at time of construction, GE only operated the facility for eight months when it ceased production in 1982 and placed Springer on care and maintenance due to falling tungsten prices. Golden Predator is in the process of re-commissioning the mill, which will be operational by the end of this year when it will be the only operational tungsten mill in the United States.

Information Regarding Forward-Looking Statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which may cause Golden Predator's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things: volatility of natural resource prices; product demand; market competition and risks inherent in the company's operations. These and other risks are described in the Company's public filings with Canadian Securities Regulators available at www.sedar.com.

For more information please see our Website at www.goldenpredator.com, or send questions and comments to info@goldenpredator.com.

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