prnews




TSX: GPD


VANCOUVER, July 23, 2012 /PRNewswire/ - Golden Predator Corp. (TSX:GPD) (the "Company") is pleased to announce that it has obtained final
approval and issuance, from the Yukon Government's Energy, Mines &
Resources Department, for a Class 4 Mining Land Use permit (Class 4
Permit) on its flagship Brewery Creek Project. The Class 4 Permit
provides for expansion of exploration activities across the more than
180 square kilometer Brewery Creek Project. This exploration permit is
in addition to the pre-existing Water and Quartz Mining License
affecting portions of the Project area.


"This permit will allow Golden Predator to expand our exploration
program, drill test a number of untested targets, delineate our new
discoveries while at the same time moving forward towards restarting
the Brewery Creek mine through the process of amending our existing
Quartz Mining License," said William M. Sheriff, Chairman & CEO. "Our
ability to access and fully drill test these new discoveries creates
the opportunity for Brewery Creek's resources to grow, ultimately
supporting a longer term operation."


Authorized Activities under the Class 4 Permit include:



the expansion of drilling activities up to and including 8 drill rigs
operating simultaneously (1500 reverse circulation holes and 1500
diamond core holes);


the construction and use of up to 61 KM of new access roads across the
Project;


the expansion of the existing 45 person camp facility to a 120 person
camp facility;


the use and operation of vehicles exceeding 40 tonnes on existing roads;


expanded fuel storage capacity;


the expansion of mechanized trenching up to 12,000 m3.



Brewery Creek Project Overview
Brewery Creek hosts NI 43-101 compliant resources of 581,000 indicated
gold ounces in 20.417 million tonnes at 0.89 g/t and 346,000 inferred
gold ounces in 12.990 million tonnes at 0.83 g/t (Barr, 2012; GPD NR
12-20 June 18, 2012). The Company anticipates publishing an updated
resource estimate incorporating the current year's drilling later in
the year.


The Brewery Creek Project is a past producing heap leach gold mining
operation with a total of 278,484 oz Au produced from seven
near-surface oxide deposits along the property's Reserve Trend from
1996 through 2002, when the mine (operated by Viceroy Resource
Corporation) shut down primarily due to low gold prices. The 181 km2 property is located 55 km due east of Dawson City, accessible by paved
and gravel roads from the junction of the North Klondike and Dempster
Highways.


The Project is in receipt of all necessary permits required to conduct
additional exploration. The Brewery Creek Project holds a Type A Water
License with an expiry date of December 31, 2021, subject to the
restrictions and conditions contained in the Yukon Water Act and
Regulations. The Project also holds a Quartz Mining License (QML) with
an expiry date of December 31, 2021. The Company is working to amend
the Water License and the QML to incorporate mine planning and design
studies which are currently underway. In addition, a restated and
amended Socio-Economic Accord with Tr'ondek Hwech'in First Nation with
respect to the Brewery Creek Project is in place


The technical content of this news release has been reviewed and
approved by Michael Maslowski, BSc, CPG, the Company's Chief Operating
Officer and a Qualified Person as defined by National Instrument
43?101.


About Golden Predator Corp.
Golden Predator Corp., Yukon's Gold Company, is mandated to become a mid-tier gold producer. Golden Predator's
road-accessible advanced properties include its flagship Brewery Creek
Project as well as its Grew Creek and Clear Creek Projects. Golden
Predator is committed to moving aggressively to a near term production
decision while expanding the existing NI 43-101-compliant resource at
Brewery Creek.




Golden Predator has one of the largest controlled land positions in the
Yukon, with exploration holdings in excess of 1.0 million acres, and is
committed to strong relationships with First Nations and communities.
Golden Predator's highly skilled management and technical teams
continue to lead quality exploration programs in the underexplored
regions of the Yukon, focused on advancing new discoveries and leaving
a positive legacy.


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.




SOURCE Golden Predator Corp.