Golden Predator Engages Gustavson to Provide Updated Mineral Resource Estimate - Seite 3

Heap Leach Reprocessing Study: Phase 1

Kappes Cassiday is currently conducting a study to determine the feasibility of reprocessing the run-of-mine material on the heap leach pad to extract additional gold.  The study will include an inventory of the mineralized material remaining on the heap followed by detailed analysis of all the key parameters involved in reconstructing or adding necessary infrastructure including a crushing plant, ADR plant, and assay lab. The study will estimate all projected capital and operating costs, production levels and will estimate projected economic returns.  The study is focusing on remediating and reprocessing the heap leach pad as a means of fast-tracking re-development of the site.  The study will include a project implementation schedule, sourcing, and economic cash flow model sufficiently detailed to move directly into procurement, development and construction if economically warranted. Any production decisions would be dependent on the outcome a study demonstrating positive technical and economic viability.  

Brewery Creek Mine: Production History

The Brewery Creek Mine is a licensed brownfields heap leach gold mine that was operated by Viceroy Minerals Corporation from 1996 to 2002. Brewery Creek was put into Temporary Closure in 2002 following a collapse of the gold price below $300 US per troy ounce. Golden Predator’s team commenced work on the project starting in 2009.  Brewery Creek is authorized to restart mining activities as defined within the Quartz Mining License and Water License. The Company intends to resume mining and processing of licensed deposits when supported by an independent study that outlines technical and economic viability. The Company is also working with Tr’ondëk Hwëch’in and Yukon Government to expand the licensed mining to include new discoveries and mining activities contemplated for an expansion of mining beyond the existing license.

The 180 km² property is located 55 km east of Dawson City and is accessible year-round by paved and improved gravel roads. Significant infrastructure remains in place, allowing for a timely restart schedule under existing licenses.

Brewery Creek Mine: Resources¹

The Company conducted exploration drilling on the Brewery Creek project from 2010 to 2013 which increased the resource significantly. The project has a 2019 Mineral Resource Estimate of Indicated oxide resource of 21,140,00 tonnes at 1.125 g/t gold containing 765,000 ounces, plus an Inferred oxide resource of 14,120,000 tonnes at 0.967 g/t gold containing 440,000 ounces. In addition, resources include 8,570,000 tonnes of Inferred sulfide resource at 0.985 g/t gold containing 270,000 ounces. Materials on the heap leach pad were not included in the resource update.