Golden Predator Intercepts 12.19 m of 1.49 g/t Gold from newly discovered Swede Zone at the Gold Dome Project, Yukon

Oct 12, 2010, 10:58 ET from Golden Predator Corp.


VANCOUVER, Oct. 12 /PRNewswire/ - Golden Predator Corp. (TSX: GPD) (the "Company") is pleased to announce initial results from its drilling program at its Gold Dome project. Of particular significance are the results from the newly discovered Swede Zone, located 0.75 km northeast of the Tom Zone where the Company encountered 25.40 m of 11.12 g/t Au in hole GD09-007 during its 2009 drill program(1). Five of the six holes drilled in the Swede Zone encountered mineralization, highlighted by GDRC-16 which intercepted 1.49 g/t Au over 12.19 m from 56.39 m including 3.51 g/t Au over 4.57 m from 64.01 m. In addition, hole GDRC-15 intercepted 1.00 g/t Au over 12.19 m from 83.82 m and GDRC-17 intercepted 0.77 g/t Au over 19.81 m from 121.92 m. Drilling has also continued to encounter mineralization at the previously recognized Tom, Aorta and Hawthorne Ridge Zones.

Gold Dome

The Gold Dome property hosts one of the largest gold-arsenic-bismuth soil anomalies in the Yukon, encompassing approximately 30 km(2). The Company has concentrated its 2010 efforts on six areas: the Tom, Hawthorne Ridge, Harvey Ridge, Aorta, and Toby Zones, as well as the newly identified Swede Zone. The Gold Dome project comprises approximately 815 contiguous claims covering approximately 170 km(2), located 25 km northwest of Mayo, Yukon.

Mineralization at Gold Dome occurs within Proterozoic Hyland Group metasedimentary rocks intruded by Cretaceous age, intermediate composition, Tombstone Suite plutons. Favorable geology within the extensive land holding, demonstrated by soil geochemical and geophysical data, as well as proximity to large placer gold accumulations in Highet and Sabbath Creeks without known sources, substantiates the potential for extending the known gold mineralization within the property.

During the 2010 drilling season the Company completed a total of 14 core holes for 3,854 m and 28 RC holes for 4,606 m on six targets at Gold Dome. Initial results presented below include 17 RC holes drilled on the Toby, Tom, Swede, Hawthorne Ridge, and Aorta Zones. Additional results for the remaining 11 RC holes as well as all of the 14 core holes are pending. The 2010 program was designed to more fully evaluate the projects numerous targets through wide-spaced exploration drilling. Select assay highlights are shown on the table below.

       Initial 2010 Drill Hole Highlights from the Gold Dome Project, YT
                     Select Significant Intercepts(1),(2)
    Drill Hole                From            To      Interval            Au
                               (m)           (m)           (m)          (g/t)
               TOM ZONE
    GDRC10-001               21.34         27.44          6.10          1.64
    GDRC10-002                6.10         18.29         12.19          0.98
    including                10.67         18.29          7.62          1.37
    GDRC10-002               28.96         38.10          9.14          1.05
    including                33.53         36.58          3.05          2.24
               SWEDE ZONE
    GDRC10-015               83.82         96.01         12.19          1.00
    including                86.87         91.44          4.57          2.30
    GDRC10-016               56.39         68.58         12.19          1.49
    including                64.01         68.58          4.57          3.51
             HAWTHORNE RIDGE
    GDRC10-017              121.92        141.73         19.81          0.77
    including               121.92        123.44          1.52          5.13
    GDRC10-019               39.62         44.20          4.58          3.76
    (1)   Results where g/t x m is less than 2.5 are not reported in this
          table, unless the individual grade was greater than or equal to 1
          g/t Au over a minimum of 1.0 m. Other intervals require greater
          than or equal to 0.7 g/t Au to be included.
    (2)   Conversions: grams per tonne (g/t) to troy ounces per short ton -
          g/t divided by 34.2857 or multiply by 0.0292; meters to feet - 1 m
          equals 3.28084 ft.

A detailed plan map, drill hole map and drill hole results table is available for viewing at the Company's website:

Results from Golden Predator's other active drilling projects, including results from the 25 additional holes drilled during 2010 at the Gold Dome project, will continue as assays are received. Current year drilling is complete at Antimony, Clear Creek, Cynthia, Grew Creek and Gold Dome, with programs still underway at Brewery Creek.

Sampling Methodology, Quality Control and Assurance

The RC drill holes were drilled by track mounted drills that produce a 5" (12.7 cm) diameter drill hole. Samples were collected from 1/8th of the material from a 5 ft (1.5 m) interval utilizing a splitter incorporated on the cyclone.

Samples were sent to ALS Chemex's prep lab in Whitehorse and then forwarded to their ISO 9001 certified preparation facility in Terrace, B.C. The pulps were analyzed at ALS's ISO 9001 certified laboratory in Vancouver. Approximately 5% of the pulps are sent for secondary check assays at Stewart Groups Eco Tech laboratory in Kamloops, B.C. Blanks, commercial standards and duplicate samples were included in each batch. To determine Au levels at the ppb level detection limit 5-10,000 ppb (5-1000 ppb at Stewart Group) 30 g samples are fire assayed then digested in aqua regia solution and analyzed by atomic absorption. At Eco Tech, values over 1,000 ppb are re-assayed by fire assay and then digested with aqua regia and then re-analyzed by an atomic absorption instrument (detection limit 0.03 g/t). At ALS Chemex, values over 10 g/t gold are re-assayed by fire assay followed by a gravimetric finish (50 ppb lower detection limit).

Other elements are analyzed by a 35 elements package (ME-ICP41) whereby the sample is dissolved in a aqua regia acid solution and then analyzed by ICP. Additional check-analyses are carried out by the lab which did not receive the original sample.

Drilling Sampling Protocol / Chain of Custody/Data Verification

Golden Predator employs high standards of protocol with respect to the handling and chain of custody of its samples. All sampling is conducted under the supervision of the Company's project geologist and the chain of custody from the drill to the sample preparation and logging facility is continually monitored by the project geologist. Samples are shipped to the lab by qualified couriers or Company personnel under locked bags with independent identification lock numbers. Data verification of the analytical results includes a statistical analysis of the duplicates, standards and blanks that must pass certain set parameters for acceptance to insure accurate and verifiable results. All assays are reported as drilled intervals and are not to be interpreted as true widths, which are undetermined at this time.

The technical content of this news release has been reviewed and approved by Corwin (Cor) Coe, A.Sc.T., B.Sc., P.Geo., the Company's Vice-President, Exploration (Canada) and a Qualified Person as defined by National Instrument 43-101.

About Golden Predator Corp.

Golden Predator Corp.'s corporate mandate is to be the leading gold property explorer and developer in Yukon, Canada. The Company has an extensive Yukon property position with an industry leading seven advanced exploration gold projects comprising approximately 1,400 km(2). Drill programs have been initiated on all seven advanced projects and continue at the Brewery Creek project. Additional results from these programs are pending.

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.

    (1) Reported in November 16, 2009 News Release , TSX-V: GPD

SOURCE Golden Predator Corp.