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Re: News Release - Monday, July 27, 2009
Drilling Commences at Gold Dome Project, Yukon Territory
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Vancouver, British Columbia, July 27, 2009: Golden Predator Royalty &
Development Corp. (TSX.V:GPD) (the "Company") announces that it has
commenced
Diamond drilling at its Gold Dome Project, located in the
Mayo Mining District, Yukon Territory. This drilling marks the first
holes drilled by True North Mining Corp., the Company's wholly-owned
Yukon subsidiary, at Gold Dome and is intended to expand on known areas
of high grade gold mineralization identified through previous
Diamonddrilling and trenching.
The first target to be drilled is the Toby area on the south side of
Highet Creek, a long-active placer gold mining center in the area.
Trenching by Riverside Resources Inc. in 2006 on a gold-arsenic-bismuth
soil anomaly identified highs of 14.9 gm/t and 8.0 gm/t gold in grab
samples from two separate trenches and chip samples as high as 8.9 gm/t
gold over 1 m. The trenches are underlain by near surface IP anomalies,
and the Toby area has never been drilled.
The second target to be drilled is the Tom zone, across Highet Creek
from Toby. Drilling in 2003 by Golden Patriot Mining Inc. within a
large gold-bismuth-arsenic soil anomaly identified a limey unit in the
Hyland Group schists that displays weak skarn alteration and high grade
gold values. Of the five
Diamond drill holes completed in the Tom
zone, hole SH03-30 returned the best intercept of 7.09 gm/t over a
drilled width of 6.4 metres. This gold mineralization has not been
followed up by drilling or other subsequent exploration. True North
intends to offset the mineralization identified in hole SH03-30 and to
work to expand the skarn alteration zone identified at Tom.
Dr. Art Ettlinger, P.Geo. & President of True North is the Qualified
Person for the Gold Dome Project and is responsible for the technical
content of this news release.
About Golden Predator Royalty & Development Corp.
Golden Predator's corporate mandate is focused on establishing early
high grade precious metals production in Nevada while aggressively
exploring and developing world class gold deposits in the Yukon region
of the Tintina Gold Trend.
In Nevada, Golden Predator is planning to drill a number of its bonanza
gold and silver projects in 2009 with the mandate to identify 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. In the Yukon, the Company is aggressively
exploring the Gold Dome, Brewery Creek, and Antimony projects in the
prolific Tintina Gold Trend through its wholly owned subsidiary True
North Mining Corp.
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 TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada 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.
Not for distribution in the United States or to U.S. Newswire Services
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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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