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Re: News Release - Thursday, August 06, 2009
Golden Predator completes Technical Report on the Adelaide
Project, Nevada
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Vancouver, British Columbia, August 6, 2009: Golden Predator Royalty
and Development Corp. (TSX-V:GPD) (the "Company") announces that it
completed a National Instrument 43-101 compliant technical report on
its Adelaide Project located in Humboldt County, Nevada. The technical
report summarizes all past exploration, including the successful
exploration results from the Company's 2008-09 drilling program, where
several +1 oz/t Au intercepts were intersected.
Potential for high grade, bonanza vein-style system has been
demonstrated in recent drilling and a proposed work plan consisting of
detailed mapping, compilation work, RC and
Diamond drilling, as well as
3D modeling is designed to advance the Project to an anticipated
National Instrument 43-101 compliant resource category. This next
phase of work is budgeted to cost $730,000 with delineation drilling
planned to commence in late 2009 on the Margarite vein corridor and
extensions of the Crown vein. The report will be filed on SEDAR
(www.sedar.com) in the next 45 days.
Travis Schwertfeger, P.Geo. Exploration Manager for Golden Predator
Mines US Inc., the Company's wholly-owned Nevada subsidiary, is the
Qualified Person for the Adelaide Project and is responsible for the
technical content of this news release.
About Golden Predator Royalty & Development Corp.
Golden Predator's corporate mandate is to establish a self-funded
precious metal exploration company with an immediate focus on exploring
and developing gold deposits in the Yukon region of the Tintina Gold
Trend. The Company seeks internal revenue generation from early high
grade precious metals production in Nevada augmented by increasing
revenues from its royalty portfolio.
In the Yukon, in 2009 the Company is aggressively exploring its three
Yukon properties, Gold Dome, Brewery Creek, and Antimony, in the
prolific Tintina Gold Trend through its wholly owned subsidiary True
North Mining Corp. Brewery Creek currently is authorized under mining
leases, a Type A water license and a production license.
In Nevada, Golden Predator is planning to drill a number of its
'properties with bonanza-style gold mineralization in 2009 with the
intent of identifying one or more properties for near term production
of small-tonnage high grade ores. The Company intends, through its
strategic use of its Taylor Mill near Ely, Nevada and a facilities use
agreement at EMC Metals Corp.'s Springer Facility in Pershing County,
Nevada, to become a mid-tier precious metals producer.
'Golden Predator is partially self-financed through its passive
pre-production royalty stream from a portfolio of properties,
anticipated to yield approximately $1.2 million during 2009. The
Company owns royalties on several known deposits including a portion of
the Barrick Bald Mountain property, the Pan deposit of Midway Gold,
significant portions of US Gold's Tonkin Springs deposit and Evolving
Gold's Rattlesnake project.
For additional information:
Golden Predator Royalty & Development Corp.
William Sheriff, Chairman (867) 335-5000
Robert Eadie, President (604) 602-4935
Neither the TSX Venture Exchange nor its Regulation Services Provider
accepts responsibility for the adequacy or accuracy of this release."
This press release contains projections and 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 involving a number of risks
and uncertainties and are not guarantees of future performance. There
are numerous risks and uncertainties that could cause actual results
and Golden Predator's plans and objectives to differ materially from
those expressed in the forward-looking information. 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, Golden Predator assumes no
obligation to update forward-looking information should circumstances
or management's estimates or opinions change.
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Copyright (c) 2009 GOLDEN PREDATOR ROYALTY & DEVELOPMENT CORP. (GPD)
All rights reserved. For more information visit our website at
http://www.goldenpredator.com/ or send mailto:info@goldenpredator.com
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