Golden Predator Completes 3 Aces Bulk Sampling Haul; Commences Drill Program

Vancouver, BC (FSCwire) - Golden Predator Mining Corp. (TSX.V: GPY) (the “Company”) is pleased to announce that it has completed the blasting, excavation, bagging and loading of an estimated 750 tons of gold-quartz vein material from the Sleeping Giant vein at its 3 Aces Project, Yukon.   The Company also announces that it has commenced a Reverse Circulation (RC) drill program at the Sleeping Giant vein. The drill program was initiated when visible gold mineralization was identified in the lowest bench of the bulk sample program and trenching exposed the vein along strike to the north-east. The drill program takes advantage of the road access provided by the ice bridge installed for bulk sampling resulting in significantly reduced costs.    

3 Aces Bulk Sampling Program: Sleeping Giant Zone

The multi-phase 2016 bulk sample program is required to accurately determine the grade, distribution of mineralization, and metallurgical aspects of the mineralization in the Sleeping Giant vein.   The first phase of the bulk sampling program was designed to extract a minimum of 550 tons of high grade gold bearing-quartz from the Sleeping Giant vein, expanded by approximately 50% based on observations including vein continuity and the presence of visible gold. The exact tonnage will be determined upon weighing during the processing phase. Final arrangements are being made for the processing of the bulk sample. Additional field work is planned across the property to determine the extent and potential for additional occurrences of high grade gold.

The Sleeping Giant vein, as exposed at surface, contains coarse visible gold, bulk sampling is designed to provide the actual grade of the vein given the distribution of coarse gold and results from previous detailed Rotary Air Blast (RAB) drilling.  Previous metallurgical characterization on sample BS3A13-03 from the Sleeping Giant vein revealed a gold grain size distribution of 70% greater than 100 µm. The portion of the vein extracted in the bulk sample was defined by assay results from closely spaced RAB drilling conducted in the summer of 2015 and was expanded down dip based on field observations.  The results of that drilling established high grade gold mineralization with good continuity in the area of the bulk sample, these results are detailed in the Company’s news release dated September 14, 2015. 

Reverse Circulation (RC) Drill Program

Reverse Circulation (RC) drilling, commenced on March 25, 2016, is planned to test down dip and along strike of the bulk sampled portion of the Sleeping Giant vein. Trenching along strike to the north-east revealed a slightly offset portion of the vein which has been exposed over approximately 20 meters. Visible gold was noted in two locations within the north-eastern extension. The vein remains open to the north-east.

Midnight Sun Drilling Inc., of Whitehorse, Yukon, has been contracted to conduct RC drilling using a 3.5 inch diameter drill hole and a Center Face Hammer drill bit which will collect large volume samples. A number of the drill holes will be closely spaced at 5 meter centers along strike and down dip of the vein to outline additional areas for potential bulk sampling. Future bulk sampling will be required to estimate the actual grade of the vein compared with RC drill results given the complex nature of coarse gold distribution in the Sleeping Giant vein.

Sleeping Giant Zone

The Sleeping Giant Zone, accessible via an exploration dirt road, encompasses an area approximately 33,000 m² defined by float and outcrops of quartz veins. To date, it contains one of the 3 Aces property’s two preferred continuous quartz veins offering potential for bulk sampling. The Sleeping Giant vein has now been exposed by bulk sampling and trenching over a 40 meter strike length. The vein remains open along strike in both directions and down dip. The presence of coarse gold in vein systems makes assaying and sampling especially challenging, bulk sampling is required to accurately determine the gold grade in these types of systems. The bulk sampling has also resulted in an excellent exposure of the vein which has provided valuable information on the structural setting of the vein and gold mineralization.  

3 Aces Project, Yukon

The 3 Aces property consists of 1,118 contiguous quartz claims (23,000 hectares) located in southeast Yukon. The property is located along the all-season Nahanni Range Road which accesses the Cantung Mine located 40 kilometres to the north.

The 3 Aces property contains a number of quartz veins and vein zones that cut Cambrian aged limestone, shale, quartz grits and pebble chert conglomerates of the Hyland Group. Previous sampling and exploration by Golden Predator (formerly Northern Tiger) has outlined extensive gold-in-soil anomalies over nine square kilometres, including numerous high grade gold showings.

The 3 Aces property is located in the traditional territory of the Kaska Nation. In January 2013, Golden Predator signed an Exploration Agreement with the Kaska Nation, as represented by the Ross River Dena Council and the Liard First Nation, with respect to activities within their traditional territories.

The technical content of this news release has been reviewed and approved by Mike Burke, P. Geo, Chief Geologist and a Qualified Person as defined by National Instrument 43-101.  

Golden Predator Mining Corp.

Golden Predator Mining Corp., a Canadian gold mineral exploration company, is focused on advancing the 3 Aces Project and Brewery Creek project in Canada’s North. The Company has undertaken a bulk sampling at the 3 Aces project, focused on high grade native gold bearing quartz veins, to define the distribution and grade of gold in the veins.  The Company’s Brewery Creek Project is a past producing heap leach gold mine with a Preliminary Economic Assessment, next steps include advancing the project through feasibility and permitting.  

For additional information:

Janet Lee-Sheriff
Chief Executive Officer
(214) 304-9552
info@goldenpredator.com
www.goldenpredator.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 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 the Company’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, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.

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