Golden Predator Mines Inc.
TSX : GP

Golden Predator Mines Inc.

October 17, 2008 15:55 ET

Golden Predator Provides Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 17, 2008) - Golden Predator Mines Inc. (the "Company") (TSX:GP) reports that the company's Chief Executive Officer, William Sheriff, was subject to involuntary margin sales of 339,000 of his shares of Golden Predator during the week of October 6, 2008.

Mr. Sheriff commented, "I am very disappointed to have been subject to involuntary margin sales of my shares of Golden Predator. These sales were precipitated by the extraordinary circumstances of the worldwide financial crisis. In no way do these sales reflect my view of the financial position or future performance potential of Golden Predator. I have been one of the company's largest individual shareholder's since its inception and frequently purchased additional shares as an expression of my complete confidence in the value of the company's strategy and assets. My confidence in Golden Predator remains undiminished, and I look forward to rebuilding my ownership position in the company in the months and years ahead."

As of November 15, 2008, CFO Larry Yau will be leaving the Company and replaced on an interim basis by President, Steve Vanry.

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.

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