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Golden Predator Acquires Livingstone District; Now Controls Largest Land Position in the Yukon
Vancouver, British Columbia � September 1st, 2011: Golden Predator Corp. (TSX:GPD) (the �Company�) is pleased to announce it has increased its mineral rights holdings to more than 1,400,000 acres (27,463 claims over 5,700 km2), giving it the largest controlled land position in the Yukon. The largest additions to the Company�s holdings are in the Livingstone district. In addition, a significant number of new properties have been acquired through staking in the Selwyn Basin as well as other prospective areas identified from the Company�s reconnaissance activities augmented by the Yukon Geological Survey�s extensive geochemical database.
Livingstone Creek Gold District
The Company�s land holdings in the Livingstone Creek Gold District consist of 27 contiguous and non-contiguous claim blocks totalling approximately 7,200 claims. The claim blocks cover approximately 375,000 acres (1,500 km2) and are located between 45 and 140 km northeast of Whitehorse in the Whitehorse Mining District. The new properties are accessible by helicopter and fixed-wing aircraft from the Livingstone Airstrip, and partially accessible via winter road from Whitehorse.
The core area of the Livingston District covers a number of creeks that have reported production of over 50,000 ounces of placer gold since the turn of the century. Gold produced from the area is often spectacular with very large multi-ounce nuggets as well as a large proportion of nuggets larger than �� in size. Historic hard rock exploration has been sporadic in the area, resulting in the discovery of some minor gold occurrences. However a methodical, regional scale exploration program seeking the hard rock sources of the gold has not occurred. The Livingston District is in a portion of the Yukon that was glaciated, and this is considered to have dispersed much of the gold from the creeks, suggesting that a greater potential hard rock exists. Gold is preserved in creeks that are perpendicular to the glacial flow.
The Livingstone District is underlain by Devonian-Mississippian, Yukon Tanana Terrain metasedimentary and metavolcanic rocks, which have been intruded by at least five distinct Late-Devonian to Late-Cretaceous plutonic suites. The District is fault bounded by the major regional scale northerly trending Big Salmon Fault in the west and the D�Abbadie fault to the east. Placer creeks are interpreted to occupy east trending structures within the major District bounding faults. This understanding not only highlights several potential gold deposit types, such as structurally-hosted hydrothermal veins, orogenic veins, skarn, epithermal veins and intrusion-related gold but also draws attention to other potential deposit types, such as precious metal enriched volcanogenic massive sulphide deposits and porphyry deposits.
Certain of the claim blocks acquired in the Livingston District are subject to Finder�s Fee Agreements which require cash, share and exploration commitments, and include royalties ranging from 1% - to 3%, for which the Company has certain buyback rights.
The technical content of this news release has been reviewed and approved by Michael Maslowski, BSc, PGeo, the Company's Vice President, Exploration (Canada) and a Qualified Person as defined by National Instrument 43-101.
Current Work
Golden Predator is currently compiling all historical geological data for the Livingstone District as well as conducting field work consisting of mapping, rock chip and silt sampling and soil surveys. These results will guide the Company in selecting drill targets for 2012. Elsewhere in the Yukon the Company is conducting extensive soil and stream sediment sampling programs along with mapping and rock chip sampling on its leading land package in addition to aggressively drilling its priority projects.
Land holding (mineral assessment) costs in the Yukon consist of an annual work commitment of $100 per claim, or a cash payment in lieu . Up to five years� work can be applied to a single claim in any one year. Golden Predator�s work programs are planned to encompass all annual mineral assessment costs, with many claim groups able to apply for multiple year�s work.
About Golden Predator Corp.
Golden Predator Corp., Yukon�s Gold Company, is a well-funded exploration company mandated to create a mid-tier gold producer. Golden Predator�s road-accessible advanced properties include its flagship Brewery Creek Project on which the Company is moving aggressively to a near term production decision, as well as its Grew Creek and Clear Creek Projects. The Company is also currently drilling its Harlan Project, and is conducting soil and stream sediment sampling on its extensive Selwyn Basin land package.
Golden Predator has the largest controlled land position in the Yukon, with exploration holdings in excess of 1,400,000 acres (over 5,700 km2), and is committed to strong relationships with Yukon communities and First Nations. Golden Predator�s highly skilled management and technical teams continue to lead aggressive exploration programs in the underexplored region of the Yukon, driven to bring value to shareholders and leave a positive legacy in the Yukon.
For additional information:
Golden Predator Corp.
Investor Relations
(604) 648-GOLD (4653)
info@goldenpredator.com
www.goldenpredator.com
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. 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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