News

Oct 28, 2008

Golden Predator Intersects Multiple Tungsten Assays Greater than One Percent and Reports 3.62% MoS2 from Surface Drilling at the Springer Mine

Vancouver, British Columbia, October 28, 2008: Golden Predator Mines Inc. (TSX:GP) is pleased to report it has intersected high grade tungsten mineralization in near-surface drilling at its wholly-owned Springer tungsten project in Pershing County, NV. Assay highlights include: 1.31% WO3 over 4.8 feet (1.46 m); 1.28% WO3 over 3.4 feet (1.04 m) and 1.25% WO3 over 4.8 feet (1.46 m) from one drill hole the George Bed area. All intervals true thickness.

Golden Predator announced the first drilling results ever reported from the George beds in a news release dated July 9, 2008. This target is located approximately one half mile to the northwest of the South Sutton area, for which earlier results have been announced previously in news releases dated April 30, 2008, June 5, 2008, June 16, 2008; and June 25, 2008. Drilling in the George area lies outside of the historical tungsten 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.

Springer Mine Drill Assay Highlights

Drill Hole #

From, ft

To, ft

True
Thickness, ft

WO3, %

 

 

 

 

 

SMC_0173

244

258

3.4

0.58

 

 

 

 

 

SMC-174

282

302

4.8

1.31

SMC-174

482

496

3.4

1.28

including

484

490

1.4

2.12

SMC-174

508

528

4.8

1.25

 

 

 

 

 

SMC-180

458

464

4.6

0.44

 

 

 

 

 



Golden Predator has also received an average assay of 3.62% MoS2 from two sample splits taken from the drilled interval of 86-88 feet in SMC-043. Sulphide Mo was calculated by difference from total Mo assays acquired using a four acid, "near total" digestion with an ICP-AES or AAS analysis and oxide Mo assays using an HCl acid leach and ICP-AES analysis. A conversion factor of 1.6681 was used to convert from elemental Mo to MoS2. These results are summarized in the following table.

Calculated Sulphide Molybdenum Assays

 

Drilled footage

 

 

 

 

Drill Hole #

From

To

True Thickness, ft

*Total Mo, %

*Oxide Mo, %

*MoS2, %

SMC-043

86

88

1.8

2.39

0.214

3.62

*Average of two blind sample splits from same interval



Golden Predator's Chairman, William Sheriff commenting about the MoS2 results stated "Molybdenite is a high-valued commodity that can be recovered in the Springer mill as a byproduct of scheelite processing. We look forward to receiving additional Mo assays to get a better understanding of the distribution of molybdenite in the tungsten skarn at Springer".

The company awaits the results of additional oxide Mo analyses and will report these as they are received.

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 CTO 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 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, and when completed, it will be the only operational tungsten mill in the United States.

For further information, please contact:

Golden Predator Mines Inc.

Bill Sheriff, Chairman and CEO: (972) 333-2214
Steve Vanry, President: (604) 648-4653

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 info@goldenpredator.com.