Golden Predator Reports Initial Gold Gravity Recoveries of 80.81% to 92.79% from 3 Aces Bulk Sample Processing

Vancouver, BC (FSCwire) - Golden Predator Mining Corp. (TSX.V: GPY) (the “Company”)  is pleased to report on the initial bulk sample processing results from its estimated 750 ton bulk sample program at its 100% owned 3 Aces project.  Sample processing began on April 10, 2016 with 66.65 dry tonnes (73.45 dry tons) of material processed through June 3^rd, 2016. A total of 3,442.8 g  (110.7 troy ounces) of a gold concentrate with an estimated gold content of 85.9% has been recovered from the processing.  

The gold concentrate is estimated to contain approximately 8.1% silver and 6.0% waste.  Final analysis will be announced when the material is refined.  The gold concentrate consists of recovered gold grains, mostly larger than a 100 mesh screen (0.150 millimeter) size.  A sulphide concentrate is also being recovered that will be refined at a later date resulting in additional gold recovery. Assaying of the sulphide concentrate will be conducted at a later date.

INTERIM RECOVERY REPORT

Head grade samples and tail grade samples were collected between April 23^rd and May 5^th.  Sampling was conducted hourly; daily composites were made for both the head and tail samples. Head and tailings grades were determined by precious metals analysis utilizing a screen metallic gold procedure.  Calculated daily recoveries (head grade minus tailings grade/head grade) ranged from 80.81% to 92.79%.  Prior to April 23^rd the plant was operating intermittently during startup and head grade and tails samples were not collected. Samples collected after May 5^th have yet to be submitted to the lab.

The daily results are shown in the table below:

* Calculated Recovery is determined by Head assay minus Tail assay divided by Head assay.

** Head and tails assays from April 27 are being re-analyzed.

 “We are pleased with the daily recoveries demonstrated during this initial phase of our processing and look forward to reporting on our progress as we better understand the nature of our bulk sample,” said Janet Lee-Sheriff, Chief Executive Officer.  ”Through testing of various parameters, we are refining the flow sheet and determining how to improve both our throughput and operational consistency while improving the gold recovery.”

BULK SAMPLE PROCESSING PROCEDURES

The gold bearing quartz vein material collected in the bulk sample was transported to the processing plant in supersacks.  Supersacks were weighed and fed through a hopper into a 10 by 16 inch jaw crusher to 3/4 inch minus and into a crushed material bin. Crushed material is discharged via a vibratory feeder into a 24 by 16 inch hammermill which grinds the material to 90% passing 8 mesh (2.36 mm).  Ground material is processed  over a pair of 4’ x 8’ shaker tables. The shaker tables classify the material into 4 products; a No. 1 concentrate, No. 2 concentrate, middlings and tailings portions.  The highest grade material is collected in the No. 1 concentrate, it is mostly fine gold with a relatively small amount of sulfide. The No. 2 concentrate captures the coarser gold and sulfide particles, and contains a considerable amount of gold. The No. 1 and No. 2 concentrates which contain the bulk of the coarse gold were processed through a  10 inch batch rod mill designed by NEW ERA Engineering Corporation of Whitehorse. The rod mill takes advantage of the ductile properties of coarse gold and flattens it while grinding gangue (mainly sulphide) materials contained in the concentrate. Gold is separated from the concentrate by passing through 50, 70 and 100 mesh (0.300 mm, 0.212 mm and 0.150 mm) screens.   Middlings are rerun over the shaker table to produce a sulphide concentrate which is then combined with the No. 1 and No. 2 concentrate which passed the 100 mesh screen. This bulk sulphide concentrate contains gold finer than 100 mesh and will be processed at a later date. The bulk of the material reports to tails and is predominately quartz but as demonstrated by the tails assays contains gold that is potentially recoverable with further refinements to the process plant.

SAMPLE PLANT OBSERVATIONS

The Company is pleased with the initial recoveries produced by the processing plant. The tune up phase of the processing plant has identified areas for improvement. The jaw crusher and the shaker tables are running at rates that would allow for 25 tons per day or more.   Throughput in the plant has been restricted by the hammermill which has reduced 24 hour output to 4 tpd or less.  We are currently processing material at a greatly reduced rate while we consider alternatives to the hammermill to increase throughput and achieve a more consistent grind and particle size. These improvements and other minor modifications to the plant are expected to significantly increase throughput and improve overall gold recoveries. The Company will refine its gold concentrates produced during April and May in the coming weeks and report the results along with an update on continuing activities.

SAMPLING METHODOLOGY, QUALITY CONTROL and ASSURANCE

Head samples are daily composite samples. Approximately 0.25 kg of crushed material was collected each hour from the vibratory feeder and the samples were composited over a 24 hour period. Tails samples are daily composite samples. Approximately 0.20 kg of tails were collected each hour from the tailings discharge pipe prior to entering the thickener and the samples were composited over a 24 hour period. The composite head and tails samples were collected under the supervision of company personnel and the chain of custody from the processing plant to the sample preparation facility maintained.  Laboratory duplicates were performed approximately every tenth sample. The samples were delivered to ALS Minerals preparation facility in Whitehorse, Yukon where samples were crushed and pulverized and sample pulps shipped to ALS Minerals certified laboratory in Vancouver. Samples were analyzed using the Au-SCR24 method, gold by screen fire assay. The method employs dry screening of a 2 kilogram sample to 100 microns. Duplicate 50 gram assays by atomic absorption are completed on the undersize fraction and fire assay with gravimetric finish on the entire oversize fraction.  The processing plant is under 24 hour/day remote control video surveillance.  Gold concentrates are dried, weighed and recorded on a log sheet prior to being transported to a secure off-site repository.

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 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 that the private placement will complete as described herein, that the Project will advance through permitting and feasibility.  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.

Maximum News Dissemination by FSCwire. http://www.fscwire.com

Copyright © 2016 Filing Services Canada Inc.