Golden Predator Mines Inc.
TSX : GP

Golden Predator Mines Inc.

April 30, 2008 14:57 ET

Golden Predator Intersects Tungsten Mineralization in Surface Drilling at the Springer Mine

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 30, 2008) - Golden Predator Mines Inc. (TSX:GP) is pleased to report it has intersected significant tungsten mineralization in drill holes at its wholly-owned Springer tungsten project in Pershing County, NV. Tungsten assay highlights include: 0.842% WO3 over 9.3 feet (2.8 m) in SMC-001, 0.826% WO3 over 14.7 feet (4.5 m) in SMC-002, and 0.653 WO3 over 21.6 feet (6.6 m) in SMC-004, all intervals true thickness.

Since late 2007, 14 holes have been drilled to test the integrity of historical "mine reserve" estimates and to outline the extent of near-surface tungsten mineralization remaining in the vicinity of previously developed surface mines. Seven of these holes were diamond drill holes, two of which were pre-collared by reverse circulation drilling, five were pre-collared by reverse circulation and intended to be completed with core at a later date and two were drilled entirely by reverse circulation. Assay data is complete for the six drill holes penetrating the tungsten skarn zones.

The Sutton beds, which are historically the largest ore producing beds on the site, were targeted in this initial drilling by Golden Predator. Drill holes SMC-001 and SMC-002 intersected tungsten mineralization in both the hanging wall and footwall of the main Sutton beds and yielded tungsten grades slightly above the historical average for the mine. Drill hole SMC-004 was drilled on the South Sutton beds and intersected long intervals of skarn-altered beds. Drill hole SMC-004 yielded W mineralization at grades exceeding the remaining historic estimate 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.

A summary of drill assay results can be found in the attached Schedule A.

Drilling is continuing in the South Sutton area, and also in new areas with the intention of identifying resources that are amenable to open pit mining.

ALS CHEMEX of Reno, NV performed all primary lab analyses. For both sawn half drill core samples and reverse circulation chips, samples received in the lab were first logged in and assigned a barcode. The samples were then fine crushed to 70% less than 2 mm then split with a riffle splitter with one split pulverized to 85% less than 75 microns. Tungsten, copper and molybdenum were then analyzed by pressed pellet, wavelength dispersive X-ray fluorescence. Levels of detection for the three elements analyzed are W-0.001% WO3, Cu-10 ppm, and Mo-4 ppm.

QA/QC procedures followed for the initial diamond drilling include submittal of half core for analysis and quarter coring with duplicate and referee samples being submitted for every ten samples assayed. Every tenth sample pulp returned from the primary lab will also be split and duplicate and referee samples resubmitted along with powdered W-standards submitted at the rate of one standard for every five pulps submitted.

Skarn-hosted tungsten mineralization (as scheelite in the case of Springer) presents special challenges in assaying QA/QC because of the extreme nugget effect encountered in the scheelite mineralization. To address this issue, the company has contracted William Gilmour, P. Geo. of Discovery Consultants of Vernon, B.C. to design and recommend a sampling QA/QC protocol unique for reverse circulation drilling of tungsten skarn mineralization. These recommendations will be implemented in ongoing reverse circulation drilling programs.

Information presented here on historical resource estimates was reviewed and approved by Art Ettlinger, Ph.D., P. Geo. the COO 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.

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.



Schedule A

---------------------------------------------------------------
True
From To Interval Width, W03 Mo
Drill Hole # ft ft ft ft % ppm
---------------------------------------------------------------
SMC-01 480 486 6.0 3.9 0.309 200
SMC-01 486 491 5.0 3.2 0.149 67
SMC-01 491 495.5 4.5 2.9 0.111 97
SMC-01 495.5 510 14.5 9.3 0.842
including:
SMC-01 495.5 501 5.5 3.5 0.569 131
SMC-01 501 505 4.0 2.6 0.725 279
SMC-01 505 510 5.0 3.2 1.237 236

SMC-01 510 514.5 4.5 2.9 0.024 885
SMC-01 475.5 480 4.5 2.9 0.006 9

SMC-02 334 338 4.0 3.5 0.169 10
SMC-02 338 342.5 4.5 3.9 0.216 31
SMC-02 338 342.5 4.5 3.9 0.105 37
SMC-02 342.5 359.5 17.0 14.7 0.826
including:
SMC-02 342.5 348 5.5 4.8 0.588 90
SMC-02 348 352 4.0 3.5 1.000 178
SMC-02 352 355 3.0 2.6 0.917 336
SMC-02 355 359.5 4.5 3.9 0.900 1115

SMC-02 359.5 363 3.5 3.0 0.272 74
SMC-02 363 367 4.0 3.5 0.013 28
SMC-02 329.5 334 4.5 3.9 0.004 72
SMC-02 289 290.5 1.5 1.3 0.932 434

SMC-03 147 151 4.0 3.5 1.048 430
SMC-03 174 175 1.0 .87 0.033 145
SMC-03 182.5 186 3.5 3.0 0.011 171
SMC-03 186 191 5.0 4.3 0.121 45
SMC-03 191 196 5.0 4.3 0.015 171
SMC-03 196 199 3.0 2.6 0.169 303
SMC-03 205 207 2.0 1.9 0.156 66
SMC-03 207 211.5 4.5 3.9 0.006 49
SMC-03 265 269 4.0 3.5 0.053 340
SMC-03 269 274.5 5.5 4.8 0.072 292
SMC-03 291.5 296 4.5 3.9 0.050 209
SMC-03 296 313 17.0 14.7 0.334 3040
SMC-03 319 320.5 1.5 1.3 0.033 329
SMC-03 381 384 3.0 2.6 0.211 276
SMC-03 385 388 3.0 2.6 0.047 170
SMC-03 395 397.5 2.5 2.2 0.082 42

SMC-04 178.5 183.5 5.0 3.5 0.004 69
SMC-04 183.5 187 3.5 2.5 0.513 315
SMC-04 187 192 5.0 3.5 0.013 37
SMC-04 248.5 252 3.5 2.5 0.004 36
SMC-04 252 256.5 4.5 3.2 0.028 97
SMC-04 256.5 261 4.5 3.2 0.061 100
SMC-04 261 265 4.0 2.8 0.239 352
SMC-04 265 267 2.0 1.4 0.417 252
SMC-04 267 272 5.0 3.5 0.033 185
SMC-04 272 273 1.0 .71 0.134 37
SMC-04 273 275 2.0 1.4 0.001 18
SMC-04 307 311.5 4.5 3.2 0.003 156
SMC-04 311.5 316 4.5 3.2 0.382 228
SMC-04 316 321 5.0 3.5 0.322 45
SMC-04 321 325 4.0 2.8 0.124 61
SMC-04 325 331 6.0 4.2 0.068 43
SMC-04 343.5 344.5 1.0 .71 0.007 121
SMC-04 388.3 389.3 1.0 .71 0.132 103
SMC-04 396 400 4.0 2.8 0.010 36
SMC-04 400 405 5.0 3.5 0.038 135
SMC-04 405 409 4.0 2.8 0.001 2770
SMC-04 417 421 4.0 2.8 0.007 56
SMC-04 421 425.5 4.5 3.2 0.089 214
SMC-04 425.5 428.5 3.0 2.1 0.003 18
SMC-04 428.5 432 3.5 2.5 0.117 322
SMC-04 432 436 4.0 2.8 0.042 391
SMC-04 436 440 4.0 2.8 0.106 93
SMC-04 440 444.5 4.5 3.2 0.095 69
SMC-04 444.5 449 4.5 3.2 0.051 51
SMC-04 449 454 5.0 3.5 0.287 460
SMC-04 454 458.5 4.5 3.2 0.024 114
SMC-04 458.5 489 30.5 21.6 0.653
including:
SMC-04 458.5 463.5 5.0 3.5 0.556 190
SMC-04 463.5 467.5 4.0 2.8 0.858 237
SMC-04 467.5 472.5 5.0 3.5 0.047 770
SMC-04 472.5 476.5 4.0 2.8 0.337 2910
SMC-04 476.5 481 4.5 3.2 0.599 748
SMC-04 481 486 5.0 3.5 1.400 232
SMC-04 486 489 3.0 2.1 0.807 219

SMC-04 489 494 5.0 3.5 0.013 50
SMC-04 494 501 7.0 4.9 0.019 162

SMC-05 Pre-collars only - no assays at this time
SMC-06 Pre-collars only - no assays at this time
SMC-07 Pre-collars only - no assays at this time
SMC-08 Pre-collars only - no assays at this time
SMC-09 Pre-collars only - no assays at this time
SMC-10 Pre-collars only - no assays at this time

SMC-11 475 477.5 2.5 1.5 0.001 60
SMC-11 477.5 480 2.5 1.5 0.003 18
SMC-11 480 482.5 2.5 1.5 0.004 285
SMC-11 482.5 485 2.5 1.5 0.007 150
SMC-11 485 487.5 2.5 1.5 0.001 59
SMC-11 487.5 490 2.5 1.5 0.003 16
SMC-11 490 492.5 2.5 1.5 0.004 24
SMC-11 492.5 495 2.5 1.5 0.002 13
SMC-11 495 497.5 2.5 1.5 0.001 19
SMC-11 497.5 500 2.5 1.5 0.002 7
SMC-11 500 502.5 2.5 1.5 0.003 7
SMC-11 502.5 505 2.5 1.5 0.012 5
SMC-11 505 507.5 2.5 1.5 0.003 8
SMC-11 507.5 510 2.5 1.5 0.005 4
SMC-11 510 512.5 2.5 1.5 0.122 11
SMC-11 512.5 515 2.5 1.5 1.200 275

SMC-12 310 312.5 2.5 1.8 0.018 21
SMC-12 312.5 315 2.5 1.8 0.228 153
SMC-12 315 317.5 2.5 1.8 0.133 1040
SMC-12 317.5 320 2.5 1.8 0.223 528
SMC-12 320 322.5 2.5 1.8 0.066 118
SMC-12 322.5 325 2.5 1.8 0.022 54
SMC-12 325 327.5 2.5 1.8 0.003 14
SMC-12 327.5 330 2.5 1.8 0.003 27
SMC-12 330 332.5 2.5 1.8 0.002 27
SMC-12 332.5 335 2.5 1.8 0.004 36
SMC-12 335 337.5 2.5 1.8 0.002 12
SMC-12 337.5 340 2.5 1.8 0.002 14
SMC-12 340 342.5 2.5 1.8 0.002 22
SMC-12 342.5 345 2.5 1.8 0.001 23
SMC-12 345 347.5 2.5 1.8 0.001 30
SMC-12 347.5 350 2.5 1.8 0.001 11
SMC-12 350 352.5 2.5 1.8 0.001 44
SMC-12 352.5 355 2.5 1.8 0.001 11
SMC-12 355 357.5 2.5 1.8 0.001 18
SMC-12 357.5 360 2.5 1.8 0.001 36
SMC-12 360 362.5 2.5 1.8 0.007 58
SMC-12 362.5 365 2.5 1.8 0.027 43
SMC-12 365 367.5 2.5 1.8 0.044 67
SMC-12 367.5 370 2.5 1.8 0.054 123
SMC-12 370 372.5 2.5 1.8 0.047 97
SMC-12 372.5 375 2.5 1.8 0.016 230
SMC-12 375 377.5 2.5 1.8 0.023 245
SMC-12 377.5 380 2.5 1.8 0.019 768
SMC-12 380 382.5 2.5 1.8 0.038 597
SMC-12 382.5 385 2.5 1.8 0.020 103
SMC-12 385 387.5 2.5 1.8 0.005 83
SMC-12 387.5 390 2.5 1.8 0.003 75
SMC-12 390 392.5 2.5 1.8 0.026 132
SMC-12 392.5 395 2.5 1.8 0.014 68
SMC-12 395 397.5 2.5 1.8 0.018 44
SMC-12 397.5 400 2.5 1.8 0.080 89
SMC-12 400 402.5 2.5 1.8 0.020 182
SMC-12 402.5 405 2.5 1.8 0.028 154
SMC-12 405 407.5 2.5 1.8 0.021 275
SMC-12 407.5 410 2.5 1.8 0.019 440
SMC-12 410 412.5 2.5 1.8 0.023 1065
SMC-12 412.5 415 2.5 1.8 0.012 337
SMC-12 415 417.5 2.5 1.8 0.112 2180
SMC-12 417.5 420 2.5 1.8 0.386 1645
SMC-12 420 422.5 2.5 1.8 0.020 467
SMC-12 422.5 425 2.5 1.8 0.206 229
SMC-12 425 427.5 2.5 1.8 0.135 424
SMC-12 427.5 430 2.5 1.8 0.181 184
SMC-12 430 432.5 2.5 1.8 0.159 102
SMC-12 432.5 435 2.5 1.8 0.326 153
SMC-12 435 445 10.0 7.1 0.610
including:
SMC-12 435 437.5 2.5 1.8 0.705 203
SMC-12 437.5 440 2.5 1.8 0.822 267
SMC-12 440 442.5 2.5 1.8 0.206 57
SMC-12 442.5 445 2.5 1.8 0.707 163

SMC-12 445 447.5 2.5 1.8 0.180 113
SMC-12 447.5 450 2.5 1.8 0.117 73
SMC-12 450 452.5 2.5 1.8 0.192 89
SMC-12 452.5 455 2.5 1.8 0.203 148
SMC-12 455 457.5 2.5 1.8 0.298 136
SMC-12 457.5 462.5 5.0 3.5 0.535
including:
SMC-12 457.5 460 2.5 1.8 0.551 187
SMC-12 460 462.5 2.5 1.8 0.518 162

SMC-12 462.5 465 2.5 1.8 0.089 72
SMC-12 465 467.5 2.5 1.8 0.093 50
SMC-12 467.5 470 2.5 1.8 0.699 95
SMC-12 470 472.5 2.5 1.8 0.154 91
SMC-12 472.5 475 2.5 1.8 0.170 105
SMC-12 475 477.5 2.5 1.8 0.016 17
SMC-12 477.5 480 2.5 1.8 0.017 12
SMC-12 480 482.5 2.5 1.8 0.008 12
SMC-12 482.5 485 2.5 1.8 0.006 50
SMC-12 485 487.5 2.5 1.8 0.040 1090
SMC-12 487.5 490 2.5 1.8 0.116 921
SMC-12 490 492.5 2.5 1.8 0.196 120
SMC-12 492.5 495 2.5 1.8 0.016 128
SMC-12 495 497.5 2.5 1.8 0.015 62
SMC-12 497.5 500 2.5 1.8 0.015 52

SMC-13 Pre-collars only - no assays at this time
SMC-14 Pre-collars only - no assays at this time


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