Golden Predator Provides Update on Brewery Creek Mine Restart Study

VANCOUVER, British Columbia, June 17, 2020 (GLOBE NEWSWIRE) -- Golden Predator Mining Corp. (TSX.V:GPY, OTCQX:NTGSF) (the “Company”) today provides an update on the status of the Brewery Creek Restart Study-Phase One, expected to be complete in Q3/2020.  The study considers the feasibility of reprocessing the leach pad material as the initial phase of restarting the past-producing and licensed Brewery Creek Mine project, located 55 km by road from Dawson City in Canada’s Yukon.

Golden Predator contracted Kappes, Cassiday & Associates of Reno, Nevada in November 2019 to develop an engineering design and construction budget for re-processing of the former heap leach material as a proposed restart plan. The study includes detailed heap inventory, re-processing design, plan and operational schedule, operating cost estimates, site layout, capital cost estimates and an economic model. The study will include a project implementation schedule, sourcing needs, and an economic cash flow model sufficiently detailed to move directly into procurement, development and construction if economically warranted. The overall engineering report is approximately 70% complete with individual sections from 60 to 95% complete. Any production decisions would be dependent on the outcome of a study demonstrating positive technical and economic viability.  A Phase Two study is planned to include the feasibility of mining operations in permitted pit areas with current resources to augment and further enhance project longevity and economics.

Janet Lee-Sheriff, Chief Executive Officer, notes: “The Restart Study has been progressing extremely well, especially in light of some expected delays due to Covid-19 work-from-home protocols and self-isolation. Golden Predator looks forward to the study expected in Q3/2020 along with our new Mineral Resource Estimate which will supersede the Resource Estimate published in November of 2019 and include more than 135 new drill holes.  We are making steady and consistent progress in our efforts to compile all the necessary information for good decision-making surrounding a potential restart of the Brewery Creek Mine. Our timing is ideal as gold prices remain strong, resource potential continues to expand and we have the ability to provide positive impacts on much-needed employment, business development and resource revenue to the Canadian, Yukon and First Nation governments in a rural community with a long standing history in the gold mining industry.”