Vancouver, British Columbia, July 9, 2008: Golden Predator Mines Inc. (TSX:GP) is pleased to report it has intersected high grade tungsten and molybdenum mineralization in near-surface drilling at its wholly-owned Springer tungsten project in Pershing County, NV. Assay highlights include: 0.670% WO3 over 7.04 feet (2.15 m) from the George beds and 0.222% Mo over 12.74 feet (3.88 m) from the South Sutton area. All intervals true thickness.
The results from drill hole SMC-120 reported here, represent the first drilling results ever reported from the George beds at Springer. This target is located approximately one half mile to the northwest of the South Sutton area, for which earlier results have been announced previously and highlights for which are reproduced in the table below. When commenting on these new results from the George area, William Sheriff, President and CEO of Golden Predator stated: "These early results from our drilling on the George beds to extend areas of historic surface workings are highly encouraging and demonstrates the open pit potential of the Springer property. We look forward to identifying other new areas for resource development at Springer".
Golden Predator has been drilling near-surface tungsten mineralization in three separate areas on the Springer property since late 2007. The drill holes reported here come from the South Sutton and George areas on private lands held by the Company. Additional assays from this area were reported earlier by the Company in news releases dated April 30, 2008, June 5, 2008, June 16, 2008 and June 25, 2008.
The tungsten values reported in the following table, along with those reported earlier by Golden Predator, compare favorably with the average historic tungsten grade reported in the historical resource for Springer of 3.59 million tons grading 0.446% WO3 reported by the General Electric Company in March 1983 and cited in Golden Predator's previous news release dated April 28, 2007. These intercepts are not included in the historic estimates and represent additional opportunities for resource enhancement.
The company is having all sample analyses containing greater than 1150 ppm Mo reanalyzed for molybdenum contained in oxides allowing for the calculation of molybdenum contained in molybdenite, which yields recoverable molybdenum in the Springer mill process. These results will be reported as they become available.
Drilling is continuing at Springer within the historic Sutton Footwall zone in the Uncle Sam area. Assays will be reported as they come available.
Springer Project Drill Highlights
Drill Hole #
*Denotes Reported Previously
Laboratory Analysis and QA/QC
ALS CHEMEX of Reno, NV performed all primary lab analyses. Their sample preparation procedure is described in Golden Predators news release of April 30. The QA/QC procedures being followed by the Company for reverse circulation drilling are those recommended by William R. Gilmour of Discovery Consultants of Vernon, BC in their report dated Feb. 11, 2008 entitled: "Proposed Sample Preparation and Analytical Procedures and Proposed Quality Control / Quality Assurance Programs for a RC Drill Program Springer Property for Golden Predator Resources Inc."
Chip samples are collected at the drill on two-foot sampling intervals. All of the drilled material is recovered. Each sample for which scheelite is noted using an ultraviolet light, along with an appropriate buffer zone on each side of the mineralized sample, is sent to the ALS Chemex sample preparation facility in Winnemucca, NV. After ALS Chemex pulverizes the samples, they are returned to Springer where they are repackaged and relabeled. Prior to resubmitting the samples to ALS Chemex for analysis at their Vancouver laboratory, two tungsten standards, one of which is a blank, as well as a duplicate split pulp sample are inserted along with the pulped samples with one standard, one blank and one duplicate submitted at a minimum for every twenty samples.
Information presented here on QA/QC procedures and historical resource estimates was reviewed and approved by Art Ettlinger, Ph.D., P. Geo. the COO of the company and a Qualified Person as defined under National Instrument 43-101. All historical resource estimates quoted herein are based on prior data and reports obtained and prepared by previous operators and certain other information. The historical estimates should not be relied upon. No qualified person (as defined by NI 43-101) has done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Golden Predator has not completed the work necessary to verify the classification of the mineral resource estimates and is not treating the historical estimates as current mineral resources or mineral reserves as defined in sections 1.2 and 1.3 of NI 43-101. Further work will be required to evaluate these resource estimates.
Golden Predator is a tungsten and gold mining company focused on mineral development in Nevada and surrounding states. The company intends to augment its dominant position in the domestic tungsten business through high grade gold development and production. Its current principal project is the Springer Facility, a 1,000 ton per day mine and mill complex built by the General Electric Company between 1979 and 1982. While it had a 13-year mine life at time of construction, GE only operated the facility for eight months when it ceased production in 1982 and placed Springer on care and maintenance due to falling tungsten prices. Golden Predator is in the process of re-commissioning the mill, which will be operational by the end of this year when it will be the only operational tungsten mill in the United States.
For further information, please contact:
Golden Predator Mines Inc.
Bill Sheriff, President and CEO: (972) 333-2214
Art Ettlinger, CTO: (604) 685-1964
Information Regarding Forward-Looking Statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which may cause Golden Predator's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things: volatility of natural resource prices; product demand; market competition and risks inherent in the company's operations. These and other risks are described in the Company's public filings with Canadian Securities Regulators available at www.sedar.com.
For more information please see our Website at www.goldenpredator.com, or send questions and comments to firstname.lastname@example.org.