Golden Predator Signs Definitive Agreements with Silver Predator

VANCOUVER, Dec. 13 /PRNewswire-FirstCall/ - Golden Predator Corp. (TSX: GPD) ("Golden Predator" or the "Company") is pleased to announce that it has signed definitive agreements with Silver Predator Corp. ("Silver Predator") to dispose of its Taylor, Treasure Hill, Silver Bow and Magistral properties located in Nevada and Mexico (collectively the "Transactions"). The Transactions are anticipated to close early in 2011.

"These transactions will create additional shareholder value by monetizing our underappreciated yet significant silver assets in Nevada," said William M. Sheriff, Chairman and CEO. "By combining our Taylor Project in Nevada with Rockhaven's Plata project in the Yukon along with proven management and a great technical team we have laid the foundations necessary for a very successful Nevada and Yukon focused silver exploration and development company. The success of this company will provide Golden Predator exposure to a rising silver market while at the same time creating a major impact on our balance sheet as the shares in Silver Predator will be reflected as current assets."

On closing of the Transactions, and prior to any further dilution Golden Predator will be Silver Predator's largest shareholder, owning approximately 20% of its issued and outstanding shares. William M. Sheriff, Chairman and CEO of Golden Predator, and John W. Legg, President and Director of Golden Predator, will sit on Silver Predator's Board of Directors.

Silver Predator concurrently signed agreements to acquire 16 additional predominantly silver exploration and development properties located in Yukon and British Columbia from Rockhaven Resources Ltd. ("Rockhaven Resources Ltd.") and Strategic Metals Ltd. ("Strategic Metals").

    Transactions

    -  Golden Predator has agreed to grant Silver Predator an option to
       acquire a 100% interest in 261 unpatented mining claims and 4 patented
       mining claims located in White Pine County, Nevada, known as the
       Taylor Property, subject to certain royalty interests further
       described below. The Taylor Property includes a NI 43-101 compliant
       resource of 14.9 MM oz Ag from measured and indicated mineral
       resources of 6,433,000 tons grading 2.31 oz/t Ag and 1.9 MM oz Ag from
       an inferred mineral resource of 757,000 tons grading 2.54 oz/t Ag
       (using a 1.2 oz/t Ag cutoff grade: Hester, 2009). The option is
       structured as sales of the shares of Fury Explorations Ltd. ("Fury
       Canada"), which in turn owns all of the shares of Anglo Nevada Metals
       Corporation ("Anglo Nevada"). Anglo Nevada owns the Taylor Property.
       As consideration for this option, Silver Predator will issue to Golden
       Predator 1,000,000 of its common shares ("Common Shares"). To exercise
       this option, Silver Predator must issue, in stages, a minimum of
       11,000,000 additional Common Shares having a minimum aggregate value
       of $7,254,000 but subject to a maximum of 17,463,333 shares. On
       exercise of this option Silver Predator will grant to Golden Predator
       a 2% net smelter royalty ("NSR") on all precious metals and 1% NSR on
       all other metals, except for metals extracted from claims subject to
       pre-existing royalties on which Golden Predator will receive a 1% NSR
       on precious metals and 0.5% NSR on all other metals.

    -  Golden Predator has agreed to grant to Anglo Nevada a 10 year right
       earn a 50% interest in the Taylor Mill Facility from Taylor Mining
       Corp. ("Taylor Mining"), a wholly-owned subsidiary of Golden Predator.
       The Taylor Mill Facility comprises five mill site claims and the
       1,320 ton per day mill complex located thereon. The mill complex
       includes primary, secondary and tertiary crushers, eight ball mills, a
       leaching and counter-current decant thickening circuit, Merrill Crowe
       equipment, a flotation circuit, a maintenance shop, an assay office,
       an electrical substation and a mine office. To earn its 50% interest
       Anglo Nevada must incur rehabilitation expenditures, invest operating
       capital or pay to Taylor Mining (or some combination of the foregoing)
       in an amount equal to the fair market value of the Taylor Mill
       Facility (or, to the extent that cash payments are made to Taylor
       Mining, in an amount equal to 50% of the fair market value). On Anglo
       Nevada acquiring a 50% interest in the Taylor Mill Facility, Anglo
       Nevada and Taylor Mining will enter into a joint venture agreement to
       operate the Taylor Mill facility.

    -  Golden Predator has agreed to sell to Silver Predator's wholly-owned
       subsidiary Silver Predator US Holding Corp. ("SPUS") its interest in
       the Treasure Hill and Silver Bow Properties located in White Pine &
       Nye Counties, Nevada owned by Golden Predator US Mines Inc. (a wholly-
       owned subsidiary of Golden Predator) ("GPUS") and, through the
       acquisition of Fury Exploration (Mexico) S. de R.L. de C.V. ("Fury
       Mexico"), its interest in the Magistral property located in Jalisco
       State, Mexico, for an aggregate of 4,000,000 Common Shares. The
       Treasure Hill Property consists of 232 patented and unpatented mining
       claims which are 100% owned by Golden Predator, and which are subject
       to existing NSR royalties of between 2% and 3%. GPUS will retain a 1%
       net profits interest ("NPI") on SPUS' interest in the Treasure Hill
       Property. The Silver Bow Property consists of lease rights in
       73 unpatented lode mining claims. The underlying owners of the Silver
       Bow Property retain a 3% NSR. GPUS will retain a 1% NPI on SPUS'
       interest in the Silver Bow Property, unless SPUS exercise its right to
       purchase the existing NSR, in which case GPUS will be granted a 1% NSR
       on all precious metals and 0.5% NSR on all other metals. Fury Mexico
       owns 100% of the Magistral Property, with Southern Silver Exploration
       Corp. ("Southern") holding an option to acquire a 65%
       interest in the Magistral Property. Provided that Southern exercises
       its option, Golden Predator will retain a 1% NPI on Fury Mexico's
       interest in the Magistral Property. In the event that Southern drops
       its option, Fury Mexico will grant Golden Predator a 2% NSR on all
       precious metals and 1% NSR on all other metals on the Magistral
       Property.

    Closing

The Transactions are required to close on or before February 28, 2011 unless otherwise extended and are subject to several conditions precedent, including receiving conditional approval for the listing of Silver Predator's Common Shares on the Toronto Stock Exchange.

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 three advanced gold projects and a pipeline of 6 prospects as well as an extensive exploration landholding comprising approximately 1,800 km2. Winter drilling will commence during February 2011 on Grew Creek and Brewery Creek. In 2011, the Company will continue aggressive drill programs and work towards completing initial 43-101 resources for Grew Creek and Clear Creek and updating the existing 43-101 resource for Brewery Creek.

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.

CONTACT: Golden Predator Corp., Investor Relations, (604) 648-GOLD (4653)

SOURCE Golden Predator Corp.