SOURCE: Golden Predator Mining Corp.

January 19, 2017 08:00 ET

Golden Predator Intersects 7.5 m of 33 g/t Gold at the 3 Aces Project; Discovers Significant Stockwork Mineralization

VANCOUVER, BC--(Marketwired - January 19, 2017) - Golden Predator Mining Corp. (TSX VENTURE: GPY) (OTCQX: NTGSF) (the "Company" or "Golden Predator") is pleased to report assay results for the first 13 holes of a total of 54 holes completed in the winter 2016 drill program at the 3 Aces Project in southeastern Yukon. Drilling has demonstrated an extension of high grade gold at the Ace of Spades zone, as well as the exciting discovery of a blind vein and the occurrence of significant assay values in stockwork zones.

Significant results reported at true width include:

  • Hole 3A16-RC-032 intersected 7.54 m of 32.86 g/t gold from a depth of 16.76 m, including 0.54 m of 252.00 g/t gold; and a new blind vein at a depth of 71.63 m returned 3.23 m of 10.04 g/t gold (hole ended in mineralization);
  • Hole 3A16-DD-036 intersected 3.12 m of 13.18 g/t gold from a depth of 10.57 m, including 1.25 m of 26.70 g/t gold;
  • Hole 3A16-RC-042 intersected 6.75 m of 25.61 g/t gold from a depth of 17.53 m, including 0.75 m of 146.50 g/t gold; and
  • Hole 3A16-DD-043 intersected 6.91 m of 14.73 g/t gold from a depth of 15.24 m, including 2.76 m of 26.67 g/t gold.

Drilling in the two deepest holes also intersected near surface, lower grade stockwork gold mineralization, previously unknown on the property. Hole 3A16-RC-032 encountered 6.81 g/t gold across a drilled thickness of 59.44 m from a depth of 16.76 m to the end of the hole with no cut-off; including 29.72 m of 12.07 g/t gold. Similar mineralization was encountered in hole 3A16-DD-043 with 7.45 g/t gold across a drilled thickness of 16.05 m from 15.24 m to 31.29 m. The hole was not sampled below 31.29 m due to poor or no core recovery.

To view maps of the 3 Aces project, as well as detailed maps and sections from the Spades Zone included in the 2016 drill program, please visit:

2016-2017 Drill Program

The Company completed 54 holes during winter 2016 drill program for a total of 4,315 m, which included 3,776 m of reverse circulation drilling utilizing a larger 5.5 inch center face-return hammer drill bit and 539 m of PQ-size (3.35 inch) diamond core drilling. Fifty-two of the 54 drill holes reached their targeted depths. Drilling commenced in the Spades Zone before testing several previously undrilled targets in the Clubs Zone and conducting step-out and infill drilling at the Hearts Zone.

Drilling at the Spades Zone included 13 holes at the Ace of Spades, designed to establish, test, refine, and optimize drilling and sampling procedures in an area of known mineralization and begin to extend the known mineralization down dip. The Aces of Spades vein remains open along strike and down dip.

A 20,000 meter drilling program is planned to commence in February 2017 and will initially focus on the Spades Zone then will expand to other areas of the property. Drilling in the Spades Zone is intended to test targets including the depth and strike extensions of the Ace of Spades vein, deeper stockwork mineralization, and commence initial drilling at the Jack, Queen, Seven and Three of Spades. As the Clubs and Hearts Zone elevations are 350 to 500 m above the Spades Zone, and experience heavier snow conditions, follow up drilling is expected to commence in Q3/17.

Hole ID* Sample Type1  From (m) To (m) Drilled Width (m)  True Width (m)2  Au g/t3
3A16-032 RC  16.76 27.43 10.67  7.54  32.86
 including RC  16.76 24.38 7.62  5.39  45.18
 including RC  17.53 18.29 0.76  0.54  252.00
and RC  71.63 76.20 4.57  3.23  10.04
 including RC  72.39 75.44 3.05  2.16  13.97
3A16-033 DD  6.25 7.62 1.37  1.12  4.17
and DD  24.38 25.74 1.36  1.11  4.31
3A16-036 DD  10.57 14.38 3.81  3.12  13.18
 including DD  10.57 13.72 3.15  2.58  15.70
 including DD  12.19 13.72 1.53  1.25  26.70
3A16-037 RC  7.62 16.00 8.38  8.09  4.79
 including RC  7.62 10.67 3.05  2.95  8.53
3A16-038 RC  8.38 12.19 3.81  3.81  4.60
3A16-039 RC  8.38 15.24 6.86  6.86  5.04
 including RC  8.38 9.91 1.53  1.53  11.60
 including RC  12.19 13.72 1.53  1.53  9.08
3A16-040 RC  15.24 17.53 2.29  1.88  3.18
 including RC  16.00 16.76 0.76  0.62  6.42
3A16-041 DD  4.80 16.68 11.88  11.48  0.88
3A16-042 RC  17.53 24.38 6.85  6.75  25.61
 including RC  18.29 22.86 4.57  4.50  37.71
 including RC  19.05 19.81 0.76  0.75  146.50
3A16-043 DD  15.24 22.86 7.62  6.91  14.73
 including DD  15.24 18.29 3.05  2.76  26.67
3A16-044 RC  11.43 12.95 1.52  1.50  5.29
and RC  17.53 35.05 17.52  17.25  3.65
 including RC  17.53 25.15 7.62  7.50  7.81
 including RC  19.05 23.62 4.57  4.50  12.48
 including RC  21.34 22.10 0.76  0.75  61.90

*Holes 34 and 35 did not have any intervals of 3 g/t gold or greater; their results are deemed insignificant.

1 Sample Type DD is for whole 85mm (PQ) core and RC for whole 5.5" (139.7mm) reverse circulation cuttings.
2 True width intervals are calculated using a -45° dipping vein orientation.
3 Gold grades calculated using ALS' Au-SCR-24 (Screen Metallics Gold) method assays.

3 Aces Project, Yukon

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 30 mineralized veins have been discovered through sampling, trenching, roadwork and drilling with different gold bearing veins occurring throughout 762 m (2,500 feet) of vertical elevation.

Surface outcrops of gold bearing quartz veins were first discovered on the property in 2009. The project was advanced with extensive soil sampling, 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 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.

Sampling Methodology, Quality Control and Assurance

The Company has utilized larger diameter drilling to provide sample material for comparative/effectiveness analysis of past drilling programs, including sampling protocols, assay methods and QA/QC procedures, and to more confidently estimate grades of high-grade veins containing coarse gold.

All analyses for the drill samples from the program were performed by ALS with sample preparation in Whitehorse, YT, Terrace, B.C. or North Vancouver, B.C. and assaying in North Vancouver, B.C. Drill samples were analyzed using a screen metallics gold method (Au-SCR24), or combination of fire-assay (Au-AA26) and Au-SCR24 if the sample was located within a mineralized zone or if the Au-AA26 procedure returned a 0.75 ppm Au or greater result.

The screen metallics procedure utilizes a two-kilogram split from each crushed sample, which is pulverized and passed through a 150-mesh screen. The material remaining on the screen (Plus fraction) is analyzed in its entirety by fire assay with gravimetric finish. The material that passed through the screen (Minus fraction) is homogenized and two 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.

No field-split samples were submitted for analysis. The samples generated by reverse circulation drilling consisted entirely of whole interval cuttings, and diamond drill core samples were submitted as whole core intervals. Quality control and assurance (QA/QC) included 12% of the samples, consisting of reject duplicates, blank and certified reference materials.

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.

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