Golden Predator Announces $15,000,000 Private Placement

/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TSX: GPD

www.goldenpredator.com

VANCOUVER, Oct. 26 /CNW/ - Golden Predator Corp. (TSX: GPD) (the "Company") is pleased to announce that it has entered into an agreement with Casimir Capital LP (the "Agent") to complete a private placement (the "Offering") for aggregate gross proceeds of up to $15,000,000.

The Offering will close in two tranches. The first tranche will consist of up to 11,125,000 units (the "Units") at a price of $0.60 per Unit for gross proceeds to the Company of $6,675,000. Each Unit will consist of one common share of the Company and one half of one non-transferable share purchase warrant. Each full warrant will entitle the holder to purchase an additional common share of the Company at a price of $0.80 for a period of twenty-four months from closing. The first tranche is scheduled to close on or about November 4, 2010.

The terms of the second tranche will be set once the Company has secured the approval of its shareholders to the issuance of securities in excess of 25% of its outstanding share capital, as required by the rules of the Toronto Stock Exchange.

The Company has agreed to pay to the Agent a cash commission of 6% of the gross proceeds raised, and issue to the Agent broker warrants to purchase that number of common shares equal to 6% of the securities issued in the Offering, and having the same terms as the warrants issued in the Offering.

Proceeds from the Offering will be used to fund exploration of Company's Yukon gold projects and for general working capital purposes.

The Offering is subject to the approval of the Toronto Stock Exchange.