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Golden Predator Drilling Confirms Continuity at 3 Aces Project

25.10.2017  |  GlobeNewswire

VANCOUVER, British Columbia, Oct. 25, 2017 (GLOBE NEWSWIRE) -- Golden Predator Mining Corp. (TSX.V:GPY) (OTCQX:NTGSF) (the “Company” or “Golden Predator”) is pleased to report results for 20 reverse circulation drill holes at the 3 Aces Project in southeast Yukon. Drill results have confirmed a doubling of the strike length of the Ace of Hearts vein with 600 m of continuity, and the extension of mineralization for 340 meters along the Hearts-Clubs Corridor. The 1.6 km Hearts-Clubs Corridor drill program, a component of the 2017 drill program, is designed to test and establish continuity along shear zones hosting gold-in-quartz veins. A second parallel shear zone, below the Hearts-Clubs Corridor, was also established and confirmed with visible gold along a 450 m segment, additional drilling results are pending.

The Hearts-Club Corridor is presently known as a 1.6 km structural zone with upper and lower northwest trending shear zones extending from the Ace of Hearts to the Ten of Clubs. In 2018, the Company will test the projected extension of the Corridor to consider a possible extension of mineralization for an additional 1.2 km along trend to the northwest. These moderately dipping shear zones host quartz veins with gold and arsenopyrite.

“We continue to be encouraged by our drill program results which expand gold mineralization, further support the orogenic gold system, and develop our evolving geologic and structural model,” said Janet Lee-Sheriff, Chief Executive Officer. “The Hearts-Clubs Corridor remains open along strike and at depth and we will continue to drill the newly identified parallel structures in the Hearts-Clubs Corridor.”

A property location map, illustration of the Hearts-Clubs Corridor, drilling plan view map of the corridor and a detailed map of the drilling can be found on the Company’s website at:

Hearts – Clubs Corridor Drilling Highlights Include:

  • Hole 3A17-203 with 19.81 m of 3.32 g/t gold, including 2.28 m of 22.49 g/t gold from a depth of 10.67 meters;
  • Hole 3A17-205 with 4.57 m of 9.30 g/t gold, including 0.76 m of 48.70 g/t gold from a depth of 22.1 meters;
  • Drilling on the Hearts-Clubs Corridor (at the King of Hearts) has more than doubled the established strike length of the mineralization previously identified at the Ace of Hearts;
  • Twelve RC holes have been completed on the northern end of the Hearts-Clubs Corridor with multiple intercepts of quartz-arsenopyrite veins including visible gold in one hole; drilling continues with results pending;
  • Visible gold was previously identified along 450m of road-cut; subsequent field work has shown that this gold is from a second lower structural zone (named the Queen of Hearts) paralleling the principal structure of the Hearts-Clubs Corridor;
  • Six RC holes have been completed on the second parallel structure (at the Queen of Hearts) with multiple intercepts of quartz-arsenopyrite veins including visible gold in two holes; drilling continues with results pending; and
  • Drilling conditions at all zones along the upper and lower Hearts-Clubs Corridor are challenging due to multiple shear zones, multiple veins and high water flows.

3 Aces Project, Yukon
The 3 Aces Project is a high grade orogenic gold project consisting of 1,734 claims covering 357 km² (35,700 hectares) in southeast Yukon. At the 3 Aces project, the exploration has been focused on the 13.5 km2 Central Core Area, a broad gold-in-soil anomaly, where numerous orogenic gold-bearing quartz veins have been discovered through geological mapping and sampling, trenching, roadwork and drilling. These orogenic-type veins are found across many well-mineralized zones and over 762 m (2,500 feet) of elevation change within the Central Core area which represents 3% of the property.

Exploration work by Golden Predator, beginning in 2015, has included mapping, sampling, trenching, metallurgical studies, rotary air blast (RAB) drilling, RC drilling, diamond drilling and bulk sampling, all focused on establishing reproducible gold grades and continuity of the numerous gold in quartz veins discovered on the property. Extensive drilling in the Spades and Hearts Zones has returned high grade vein intercepts such as 13.1 m of 16.75 g/t gold1 and 13.75 m of 65.31 g/t gold; 16.2 m of 20.5 g/t gold and 8 m of 50.4 g/t gold2. Additional new discoveries have been announced in the Clubs and Diamonds Zones and the Company is currently focused on an aggressive drill program focused on the Central Core Area that is well underway, and is expected to continue through November.

The Project is located along the all-season Nahanni Range Road that was recently announced as being a part of the $360 million Federally and Yukon funded, Yukon Resource Gateway Project. The 3 Aces Project is in the traditional territory of the Kaska Nation. Golden Predator operates under an Exploration Agreement with the Kaska Nation, as represented by the Ross River Dena Council and the Liard First Nation, and a Class 4 Mining Land Use Permit issued by the Yukon Government.

Orogenic Model
Gold mineralization at the 3 Aces project is orogenic in nature. Orogenic deposits account for some of the largest gold deposits around the world, such as the California Mother Lode Belt and the Juneau Gold Belt.

The 3 Aces Central Core area consists of a stratigraphic sequence of sedimentary rock affected by regional, low grade metamorphism. Gold mineralization has been identified in two styles of mineralization at the 3 Aces project:

1. Bedding-parallel quartz veins along shear zones, featuring low angle faults (Hearts-Clubs Corridor)
These veins are found among Proterozoic meta-sedimentary rocks including sandstone and phyllite. Compressional tectonics acting on these types of rocks cause movement along the original bedding planes. The movement causes major shear zones and facilitates the formation of open spaces which are enhanced because different rock types are in contact with one another (sandstone and phyllite). We have observed indicators that identify at least three major parallel shear zones stacked 200 to 300 m above one another featuring low angle faults. There are multiple quartz veins which occur in or near these shear zones, that span up to 7 m wide with grades anywhere from 1 g/t, to more than 10 g/t of gold.

2. Quartz veins occurring at high angle orientations with conjugate geometries (Ace and Jack of Spades)
These veins were formed between the bedding-parallel shear zones as tensional (pulled apart) stress release faults and fractures. Stress release faults and fractures tend to be found at predictable orientations (north-east, west-northwest and east-west). These veins range up to 10 m thick and host grades ranging from 15 g/t, to more than 30 g/t of gold.

Additional drilling and sampling work is required to confirm the extent and grade of mineralization at the 3 Aces Project. The goal is to find additional veins, confirm the extent of the high angle veins already identified. Golden Predator continues to test and refine its orogenic gold that features a structurally and lithologically controlled, orogenic type gold-bearing quartz veining, occurring in repeating or stacked zones of mineralization.

Significant Drill Results Table – Hearts Zone

Hole ID1 Sample Type2 From (m) To (m) Drilled Width (m)3 Au g/t4
3A17-192 RC 43.43 46.48 3.05 2.18*
including RC 43.43 44.20 0.77 3.68
including RC 45.72 46.48 0.76 3.18
3A17-198 RC 26.67 27.43 0.76 3.14
and RC 140.97 141.73 0.76 7.52
3A17-203 RC 10.67 30.48 19.81 3.32*
including RC 10.67 12.95 2.28 22.49
including RC 28.19 28.96 0.77 9.59
3A17-204 RC 10.67 24.38 13.71 0.66*
including RC 23.62 24.38 0.76 4.29*
and RC 38.10 38.86 0.76 6.86*
3A17-205 RC 22.10 26.67 4.57 9.30*
including RC 22.86 23.62 0.76 48.70*
including RC 25.91 26.67 0.76 3.30*
and RC 38.86 39.62 0.76 3.09*
3A17-228 RC 28.19 28.96 0.77 4.44*
3A17-235 RC 73.15 74.68 1.53 6.19*
3A17-244 RC 20.57 21.34 0.77 4.36*
and RC 72.39 73.15 0.76 7.65

1Drilled intervals assaying ≥3.0 g/t gold are reported in table as significant results;
  • 3A17-192’s significant results from 43.43m to 46.48m include 1.52m averaging 0.93* g/t Au at 44.20m
  • 3A17-203’s significant results from 10.67m to 30.48m include 15.24m averaging 0.41* g/t Au at 12.95m and 1.52m averaging 0.53* g/t Au at 28.96m
  • 3A17-204’s significant results from 10.67m to 24.38m include 12.95m averaging 0.45* g/t Au at 10.67m and 2.29m averaging 1.13* g/t Au at 23.62m
  • 3A17-205’s significant results from 22.10m to 26.67m include 0.76m averaging 0.50* g/t Au at 22.10m
2Sample Type 'RC' is whole 3.5" (88.9mm) reverse circulation cuttings
3All intervals are reported as drilled thicknesses; true thicknesses are estimated to be 50-100% of drilled thicknesses
4Reported Au assay grade sourced from ALS using Au-SCR24B method (* indicates finalized Au-AA26 results are used)

Hearts area drill holes 3A17-190, 3A17-191, 3A17-221 and 3A17-223 encountered no significant mineralization (≥ 3.0 g/t Au) as holes 3A17-190 and 3A17-191 were drilled in the footwall of the structure. Holes 3A17-221 and 3A17-223 encountered low grade gold mineralization with intervals less than 2.0 g/t Au associated with quartz-arsenopyrite veining.

Spades Drilling
Spades area drill holes 3A17-165 to 3A17-172 were drilled to test a gold-in-soil anomaly along the projected extension of the Ace of Spades vein zone, located approximately 200m northeast of the 2015 bulk sample site. These holes intercepted quartz-arsenopyrite veining but did not return any significant gold values. Structural interpretation of the model suggests a follow-up drill program with added depth would likely encounter mineralization along the preferred structural horizon.

Sampling Methodology, Quality Control and Assurance
All analyses for the drill samples from the program were performed by ALS with sample preparation in BC, Kamloops, BC and assaying in Lima, Peru or North Vancouver, BC. Drill samples were analyzed using a 50 g fire assay with atomic absorption finish (Au-AA26). If the procedure returned a value of 2.0 g/t gold or greater it is re-run using a 2kg screen metallic gold method (Au-SCR24). Refer to the Company’s news release dated July 10th, 2017 for a complete discussion of sampling methods, quality control and assurance.

The technical content of this news release has been reviewed and approved by Mark Shutty, CPG, a Qualified Person as defined by National Instrument 43-101 and an employee of the Company.

Golden Predator Mining Corp.
Golden Predator Mining Corp. is a well-financed gold exploration company focused on its high-grade orogenic gold-in-quartz 3 Aces Project in Canada’s Yukon. The 357km2 land package includes numerous mineralized areas, all located within and along favorable stratigraphic and structural zones that extend over 35 km along trend. The continuing 2017 drill program is focused on the year-round road and bridge accessible 13.5 km2 Central Core Area, host to numerous high-grade gold in quartz veins.

The Company also holds 100% of the advanced Brewery Creek Project in Yukon, Canada. With proven management and an experienced technical team, the Company is well positioned for growth.

For additional information:
Janet Lee- Sheriff
Chief Executive Officer

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.

1 Golden Predator Press Release dated March 16, 2017
2 Golden Predator Press Release dated August 9, 2017

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