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Golden Predator Mining Corp. (TSXV:GPY) (the “Company” or “Golden Predator”) is pleased to report assay results for 23 reverse circulation (RC) drill holes completed as of May 15, 2017 at the 3 Aces Project in southeast Yukon, Canada. Current results expand the zone of mineralization in the Ace and Jack of Spades zone to 137+m …

Golden Predator Mining Corp. (TSXV:GPY) (the “Company” or “Golden Predator”) is pleased to report assay results for 23 reverse circulation (RC) drill holes completed as of May 15, 2017 at the 3 Aces Project in southeast Yukon, Canada. Current results expand the zone of mineralization in the Ace and Jack of Spades zone to 137+m (450+ feet) in a southeasterly direction (down dip) and 61+m (200+ feet) along strike and it remains open. In addition to the already identified high grade underground targets, the drilling results suggest a merging into a single gently dipping zone, providing a potential near surface bulk mineable. These drill results are part of a fully funded 40,000 m drill program[1], which will continue throughout 2017.

Significant results include:

  • Hole 3A17-100 intersected 6.86 m of 20.15 g/t gold from a depth of 19.05 m, including 1.53 m of 42.59 g/t gold;
  • Hole 3A17-106 intersected 1.52 m of 54.25 g/t gold from a depth of 2.29 m, and 1.53 m of 8.89 g/t gold from 8.38 m, and 1.53 m of 14.26 g/t gold from 12.95 m;
  • Hole 3A17-125 intersected 2.29 m of 35.35 g/t gold from a depth 9.14 m, including 0.76 m of 59.30 g/t gold;
  • Hole 3A17-127 intersected 6.10 m of 22.30 g/t gold from a depth of 12.95 m;
  • Hole 3A17-126 intersected 1.52 m of 72.25 g/t gold from a depth of 14.48 m.

To view maps of the 3 Aces Project outlining the results in this release please visit:

2017 3 Aces Exploration Program

The 2017 drill program, commenced in February, is initially focusing on the Spades Zone then expanding to other areas of the property. Drilling in the Spades Zone is intended to test targets including the depth and strike extensions of the Ace of Spades vein, stockwork mineralization encountered below the Ace of Spades vein, and, to conduct initial drilling at the Jack, Queen, Seven and Three of Spades. The 2017 drill program[1] will then focus on identifying and testing new mineralized vein targets combined with expanding the current gold targets in the Clubs, Hearts and Spades zones.

Forty-three reverse circulation holes were drilled in the first round of the 2017 program, completed on May 15, 2017, from an area measuring over 450 x 700 m (1,475 x 1,300 feet) in the Spades Zone. Results from four additional holes are pending.

Since June 1, 2017, an additional 13 RC holes for 718 m (2,355 feet) and 20 PQ diamond core holes for 1,906 m (6,253 feet) have been drilled in the Spades Zone to complete the second round, results pending. The current RC drilling will also focus on down-dip and along strike of the Ace of Hearts vein, the Queen of Clubs vein and the Seven of Spades zone. Initial drilling will be conducted at the northeast extension of the Ace of Spades, a newly discovered vein at the Three of Spades, the Queen of Hearts, the Six of Clubs and the Ten of Clubs.

Gold mineralization in the Spades zone is localized in the footwall of an east-west trending, south dipping shear zone which approximates a strongly sheared and folded phyllite/sandstone contact. Lenticular quartz veins and associate gold mineralization are best developed along north-northeast and north-northwest trending structures dipping 50° SE and 60-80° SW respectively. The gold bearing vein system is developed within a moderately dipping, southeast plunging syncline with a phyllite hanging wall and sandstone footwall. The best grade/thickness gold mineralization appears to be developed within the syncline fold axis and similar structural settings are being targeted for drilling immediately northwest and southeast of the Spades zone. In addition to the higher-grade intervals reported here, there are extensive zones in the current drilling that contain near surface intervals ranging from 0.25 g/t gold up to 3.0 g/t gold.

A second gold in soil anomaly is developed 400 m west of the Ace of Spades vein within a similar setting with arsenopyrite-bearing quartz veins developed along phyllite/sandstone contacts. The gold in soil anomaly has a strike length of approximately 250 m with gold values to 4.61 g/t gold and rock chip sample assays are pending. Arsenopyrite-bearing quartz veins have been recently discovered 450 m east of the Ace of Spades zone along the east-west shear zone and rock assays from recently excavated trenches are pending.

Soil sampling, trenching, road construction and property-wide geochemical grid surveying over favourable terrain have commenced for the 2017 season.

Significant Results Drill Table – Spades Zone
Hole ID 1Sample Type 2From (m)To (m)Drilled Width (m)Gold g/t 3
1Only Spades area holes with a drilled interval assaying ≥3.0 g/t gold are reported in table;
• Hole 3A17-100’s significant intercept from 19.05m to 25.91m includes 0.76m of 0.77 g/t Au at 22.10m depth
• Holes 3A17-105, 3A17-112, 3A17-113, 3A17-116 and 3A17-117 returned multiple intervals ≥1.0 g/t but ≤ 3.0 g/t Au
2Sample Type ‘RC’ is whole 5.5″ (139.7mm) 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)

3 Aces Project, Yukon

The 3 Aces Project includes the 3 Aces, Reef, and Hy Jay properties consisting of 1,734 claims covering 357 km² (35,700 hectares) in southeast Yukon. The project is located along the all-season Cantung Mine Road which accesses the Cantung Mine, 40 km to the north. The 3 Aces Project, which includes the two highest grade surface discoveries to date in the Yukon, has over 25 mineralized veins that have been discovered through sampling, trenching, roadwork and drilling over 762 m (2,500 feet) of elevation within the Central Core area.

Surface outcrops of gold bearing quartz veins were discovered on the property, then advanced with extensive soil sampling and helicopter supported core drilling, which outlined significant gold anomalies over a Central Core Area of 10.5 km2. Previous exploration work by Golden Predator in 2015 and 2016, which included metallurgical studies, rotary air blast (RAB) drilling, RC drilling, diamond drilling and bulk sampling, focused on establishing reproducible gold grades and continuity of the Ace of Spades vein where previous diamond drilling had returned inconsistent grades. This work confirmed the high gold grades of the vein by better targeting and utilization of a sampling and assaying protocol derived from metallurgical studies.

The 3 Aces property is 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 3 Aces Project operates under a Class 4 Mining Land Use Permit.

Sampling Methodology, Quality Control and Assurance

Because of the high-grade gold encountered at 3 Aces to date, the Company has taken steps to ensure that its sampling and assaying procedures can be depended upon. The Company has utilized larger diameter drilling to provide sample material for comparative/effectiveness analysis of past drilling programs, including sampling protocols, assay methods and QA/QC procedures, and to more confidently estimate grades of high-grade veins containing coarse gold.

All analyses for the drill samples from the program were performed by ALS with sample preparation in Whitehorse, YT, Terrace, B.C. or North Vancouver, B.C. and assaying in North Vancouver, B.C. Drill samples were analyzed using a 50 g fire assay with atomic absorption (AA) finish. 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).

The screen metallic procedure utilizes a two-kilogram split from each crushed sample, which is pulverized and passed through a 150-mesh screen. The material remaining on the screen (Plus fraction) is analyzed in its entirety by fire assay with gravimetric finish. The material that passed through the screen (Minus fraction) is homogenized and two 50 g subsamples are analyzed by fire assay with AA finish and averaged. The Plus and Minus fraction gold analyzes are weight averaged to obtain a final gold determination for the sample. Quality control and assurance (QA/QC) included 12% of the samples, consisting of reject duplicates, blank and certified reference materials.

Due to the lengthy delay in the receipt of final assays and their reporting, the Company has, upon completion of a sampling assessment and error study, altered its existing drill sampling and assaying protocol. The Company has implemented several changes to its protocol, effective immediately, and is confident this will result in a significantly reduced timeline in terms of receiving and reporting assays from the Company’s drilling. The Company will also experience a significant cost reduction associated with these changes.
The technical content of this news release has been reviewed and approved by Mark C. 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 Canadian gold mineral exploration company expanding its surface discoveries, at the 3 Aces Project in Canada’s Yukon, through focused drilling. The 3 Aces property is a high-grade gold in quartz project with an exploration program underway that includes sampling, trenching, drilling and bulk sampling to define and interpret the project. The Company also holds the Brewery Creek Project in Canada’s Yukon.

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 May 3, 2017


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