VANCOUVER, Nov. 22, 2011 /CNW/ - Golden Predator Corp. (TSX:GPD) (the "Company") is pleased to announce the appointment of Mr. Michael
Maslowski as Chief Operating Officer and Mr. Randall (Randy) Peterson
as Chief Mining Engineer.
Mr. Maslowski has been charged with responsibility for all the Company's
exploration and development operations, with his initial focus being
the advancement of the Brewery Creek Project to a near-term production
decision. Mr. Peterson's primary responsibility will be to develop and
implement operational plans for the Brewery Creek Project.
"These appointments mark a major milestone for Golden Predator as we
move towards production at our flagship Brewery Creek Project," said
William M. Sheriff, Chairman and CEO. "I look forward to working
closely with both Mike and Randy as we work to transition into a
mid-tier gold producer."
Michael G. Maslowski, BSc, CPG
Mr. Maslowski brings 30 years of exploration and production experience
to Golden Predator. Prior to his appointment as Vice President,
Exploration (Canada) of the Company in June 2011, Mr. Maslowski served
as the Assistant General Manager for Coeur d'Alene Mines's 6,000 tpd
Palmarejo Mine in Mexico. Mr. Maslowski oversaw daily open pit and
underground operations (including managing the work of 950 employees &
on-site contractors as well as managing corporate and governmental
communications). Under Mr. Maslowski's management the Palmarejo Mine
grew from construction phase to sustained production, with silver and
gold production rising from 350,000 to 600,000 oz and 7,000 to 10,000
oz per month, respectively. Mr. Maslowski holds a BSc in Geological
Engineering from the Colorado School of Mines and is a Certified
Professional Geologist with the American Institute of Professional
Randall D. Peterson, MSc, MBA, PEng
Mr. Peterson has over 25 years' experience in all facets of the mining
industry, from mine planning and design through permitting, operations
and reclamation in the USA, Canada, Australia and Mexico. Mr. Peterson
has worked in coal, precious metals and phosphate operations, in both
surface and underground operations, as well as in the industrial
construction industry. Mr. Peterson holds a Master of Science degree
and a Master of Business Administration degree from the University of
Utah and is a Registered Professional Engineer.
Brewery Creek Project
Golden Predator holds an option to acquire up to a 75% interest in the
Brewery Creek Project from Alexco Resources and is working aggressively
towards a near-term production decision. To date in 2011 the Company
has completed more than 290 drill holes at Brewery Creek, totalling
over 45,000 m. Drilling has been concentrated on delineating the two
2011 discoveries at the Bohemian-Schooner and Sleeman Zones, with
significant additional drilling on the North Slope and Classic Zones,
as well as the newly identified Ice Fog Zone. Results are pending for
over 100 of these holes. Year-round drilling continues at Brewery
Creek, with 2 core rigs and one RC rig presently operating on site.
Resource modeling in support of an updated resource estimate is well
The Brewery Creek Project is a past producing heap leach gold mining
operation with a total of 278,484 oz Au produced from seven
near-surface oxide deposits along the property's Reserve Trend from
1996 through 2002, when the mine (operated by Viceroy Resource
Corporation) shut down due to low gold prices. The 187 km2 property is located 55 km due east of Dawson City, accessible by paved
and gravel roads from the junction of the North Klondike and Dempster
Highways. In May 2011 the Company staked an additional 204 quartz
claims east of the historic Brewery Creek property, increasing the
Project to a total of 997 quartz claims.
The Project is in receipt of all necessary permits, including the Class
3 Mining Land Use permit required to conduct additional exploration.
The Brewery Creek Project is authorized under a Type A Water License
with an expiry date of December 31, 2021, subject to the restrictions
and conditions contained in the Yukon Water Act and Regulations. The
Project also has a production license with an expiry date of December
31, 2021, and the ninety-three mining leases covering mine facilities,
pits, waste dumps and adjacent drill indicated deposits have expiry
dates beginning in 2016. In addition, a Socio-Economic Accord with
Tr'ondek Hwech'in First Nation with respect to the Brewery Creek
Project is in place.
About Golden Predator Corp.
Golden Predator Corp., Yukon's Gold Company, is a well-funded exploration company mandated to become a mid-tier gold
producer. Golden Predator's road-accessible advanced properties
including its flagship Brewery Creek Project at which the Company is
moving aggressively to a near term production decision, as well as its
Grew Creek and Clear Creek Projects.
Golden Predator has one of the largest controlled land position in the
Yukon, with exploration holdings in excess of 1,400,000 acres (over
5,700 km2), and is committed to strong relationships with Yukon First Nations and
communities. Golden Predator's management and technical teams continue
to lead aggressive exploration programs in the underexplored regions of
the Yukon, and are driven to bring value to shareholders and leave a
positive legacy in the Yukon.
No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein. This
press release contains projections and 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 involving a number of risks and uncertainties and are not
guarantees of future performance. There are numerous risks and
uncertainties that could cause actual results and Golden Predator's
plans and objectives to differ materially from those expressed in the
forward-looking information. 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, Golden Predator assumes no obligation to update
forward-looking information should circumstances or management's
estimates or opinions change.
SOURCE Golden Predator Corp.
For further information:
Golden Predator Corp.
William M. Sheriff, Chairman & Chief Executive Officer
Frank Lagiglia, Director of Communications
(604) 648-GOLD (4653)