VANCOUVER, March 1 /CNW/ - Golden Predator Royalty & Development Corp. (TSX:GPD) (the "Company") is pleased to announce the commencement of initial production royalty payments from Barrick Gold Corporation on the N-Selox claims.
Golden Predator holds a one percent gross royalty on the N-Selox claims. The initial gross royalty payment was valued at approximately USD $115,000, and the Company has elected to received the payment in kind, which will be held in an account at Johnson Matthey.
"This in-kind revenue from Barrick is in addition to the pre-production revenue that we currently receive from our portfolio of royalties, which includes royalties on Barrick's Bald Mountain Mine (4% GSR), Midway Gold's Pan Deposit (4% GSR), US Gold's Tonkin Springs Deposit (5% GSR) and Evolving Gold's Rattlesnake Hills Deposit (0.5% NSR)," stated William M. Sheriff, Chairman and CEO. "The addition to our royalty revenue is an exciting development for our company. We initially had revenue from the N-Selox claims projected several years out, and are pleased to see the project move into production significantly ahead of our expectations."
Golden Predator has requested all geological & geotechnical data on the N-Selox claims, as well as a reserve report, from Barrick, a summary of which the Company plans to post to its website in compliance with applicable disclosure rules.
About Golden Predator Royalty & Development Corp.
Golden Predator's corporate mandate is to establish a self-funded gold company focused on the Yukon, Canada.
Golden Predator has established an industry leading gold property position in the Yukon and is aggressively exploring its Gold (Scheelite) Dome, Eureka, Antimony Mountain, Clear Creek and Brewery Creek projects.
Golden Predator is advancing its Adelaide project in Nevada with underground drilling and bulk sampling planned. Further drilling is planned at Golden Ridge and Lantern to potentially provide near term production of small-tonnage high grade ores. Golden Predator intends, through its strategic use of modular mills at its Taylor and Humboldt mill sites, to become a gold producer capable of funding its Yukon program. In addition, Golden Predator currently receives in excess of $1.0 M per year from its royalty stream.
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 Americas Bullion Royalty Corp.
For further information: For further information: Golden Predator Royalty & Development Corp., Investor Relations, (604) 648-GOLD (4653)