Golden Predator Royalty & Development Corp.
TSX VENTURE : GPD

Golden Predator Royalty & Development Corp.

May 04, 2009 14:18 ET

Golden Predator Royalty & Development Corp. to Acquire Precious Metals Projects in the Tintina Gold Belt

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 4, 2009) - Golden Predator Royalty & Development Corp. (TSX VENTURE:GPD) (the "Company") announces that its Board of Directors has approved a new initiative for the company to acquire advanced-stage gold and silver projects focused in the Tintina gold province, Yukon Territory. It is envisioned that current and future projects acquired by Golden Predator in the Canadian cordillera will be placed into a subsidiary company that will be financed principally through flow-through financing mechanisms. It is further planned that this company will ultimately become a majority owned public company listed on a Canadian stock exchange. The Company's Yukon programs are in addition to the active programs in Nevada and surrounding states to identify high grade production opportunities and will not impact the Company's Nevada efforts.

The Tintina gold province presents a highly prospective environment for gold development; where a mining team can focus on a specific host rock environment, such as the 92 million year old Tombstone granitic suite, to develop gold deposits based on proven ore deposit models. Within the Tintina gold province, large gold deposits such as Donlin Creek (29.3 M ozs Au Proven & Probable reserves, 6.0 M ozs Au Measured & Indicated resources), Fort Knox (3.8 M ounces P & P reserves, 1.7 M ozs M & I resources) and Pogo (3.6 M ozs P & P reserves) clearly demonstrate the fertile characteristics of this geologic environment. Additionally, important deposits of silver (Keno Hill, 217 M ozs historic production); tungsten and copper, demonstrates that this portion of northwestern Canada is rich in resource opportunities.

The decision to pursue projects within the Tintina gold province and surrounding geologic environments is a corporate response to the changing dynamics in the gold and financial industries. The Tintina gold province, or Tintina Gold Belt as it's also known, was the focus of enhanced mining company and investor interest in the late 1990's-early 2000's when the price of gold was about one third of its current price. Golden Predator Royalty and Development believes that the stable, constructive and supportive geopolitical environment in the Yukon along with the wealth of mineralization will see a renewed focus on the area. We intend to be a significant factor in this renewal.

About Golden Predator Royalty & Development Corp.

The Company is focused on becoming a mid-tier precious metals producer in Nevada through the strategic use of its Taylor milling facility near Ely, NV and through a facilities use agreement at the Springer Facility with its sister company, EMC Metals Corp. Golden Predator is moving forward on several of its gold and silver projects in 2009 with the mandate to identify one or more properties for near term production of small-tonnage high grade opportunities. In addition, the company is partially self-financed through its passive royalty stream from a portfolio of properties that are anticipated to yield approximately $1.2 million at current gold prices for 2009. In addition, the company will seek promising exploration and development opportunities in the Tintina Gold Belt of northwestern Canada.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Golden Predator Royalty & Development Corp.
    William Sheriff
    Chairman
    (972) 333-2214
    or
    Golden Predator Royalty & Development Corp.
    Steve Vanry
    President
    (604) 648-4660