Golden Predator Completes Technical Report, Signs Option Agreement on Brewery Creek Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 13, 2009) - Golden Predator Royalty and Development Corp. (TSX VENTURE:GPD) (the "Company") announces that, further to its news release of June 8, 2009, its wholly-owned subsidiary True North Mining Corp. has signed a formal Option Agreement with Alexco Resource Corp. AXR(NYSE Amex:AXU) for, and has received a NI 43-101 compliant technical report on, its Brewery Creek Gold Project located 55 km east of Dawson City, Yukon. Technical Report The Brewery Creek Project includes a past producing heap leach gold mine that yielded a total of 279,541 ounces of gold between 1996 through 2002. The Report summarizes all past exploration and production, including 2006 drilling and sampling carried out by Alexco Resource Corp., and describes the previously announced indicated resource of 3.98 million tonnes grading 1.135 gm/t Au (145,000 contained ozs) and, in the North Slope zone, an inferred resource of 2.2 million tonnes grading 2.01 gm/t Au (142,000 contained ozs), using a cutoff grade of 0.5 gm/t Au. The Report, dated July 31, 2009 and entitled "Technical Report on the Brewery Creek Gold Project, Yukon Territory", was prepared by Ronald G. Simpson, P.Geo. of GeoSim Services Inc., and Richard M. Diment, P.Geo both "qualified persons" for the purposes of NI 43-101 and will be filed on SEDAR (www.sedar.com) in the next 45 days. More than 175,000 metres of drilling and trenching were completed on the Project between 1989 and 1999, focusing primarily on defining near surface oxide resources. Mined out oxide reserves totaled 9.7 million tonnes grading 1.44 g/t Au were distributed in 7 near surface deposits along a 7 km, ENE trend. This area is referred to as the "Reserve Trend" which is central to a WNW trending gold in soil anomaly that extends more than 15 km along strike. Exploration drilling for higher grade sulphide resources is nominal and restricted largely to the down dip extensions of SE dipping, listric normal faults. The limited drilling of these targets to date has yielded scattered but significant gold mineralization. In light of new structural and geochemical models and exploration concepts, the current depth of drilling is considered inadequate to properly assess the sulphide potential along the main reserve trend. Peripheral exploration targets including the North Slope, Classic and Bohemian-Sleemans Trend contain oxide and sulphide gold mineralization that has not been fully drill defined and remain open ended. A phase one exploration program of $1,037,300 is proposed. Agreement Terms Under the terms of the Option Agreement, True North can earn up to a 75% interest in the 793 contiguous quartz mining claims and leases and certain related assets comprised in the Brewery Creek Project in three stages, as well as a 50% interest in certain barite deposits. To earn a 51% interest in the Project (exclusive of the barite deposits) True North will incur the following noncumulative exploration expenditures: /T/ -------------------------------------------------------------- Exploration and Development Expenditures Anniversary Date -------------------------------------------------------------- $1,000,000 December 31, 2010 -------------------------------------------------------------- $1,300,000 December 31, 2011 -------------------------------------------------------------- $1,700,000 December 31, 2012 -------------------------------------------------------------- /T/ The initial $1,000,000 of exploration expenditures is a firm commitment by True North. True North will have the option to acquire an additional 14% interest in the Project (exclusive of the barite deposits), for a total of 65%, by incurring an additional $1,000,000 (for a total minimum of $5,000,000) exploration expenditures and completing a Preliminary Economic Assessment by December 31, 2013. An additional 10% (for a total of 75% interest) can be reached by True North completing an additional $1,000,000 in exploration expenditures (for a total minimum of $6,000,000) and delivering a bankable feasibility study by December 31, 2014. Alexco will have a one-time right to buy back the additional 10% interest by paying to True North 2.5 times all exploration and development expenditures incurred by True North in excess of $4,000,000. True North may also earn a 50% interest in known and future discoveries of deposits of barite on the Project by incurring exploration and development expenditures attributable specifically to the barite of $1,000,000 on or before December 31, 2012 and incurring not less than $3,500,000 of exploration and development expenditures in furtherance of the gold potential on the Project as a whole. The Brewery Creek Project is subject to two underlying royalty agreements with third parties: a "sliding scale" royalty on the next 21,516 ounces of gold production on the basis of a sliding scale ranging from USD$10 per ounce if the average gold price for the quarter is less than USD$350 per ounce up to USD$40 per ounce if the average gold price for the quarter is greater than USD$450 per ounce; and a 5% net profits royalty (after recapture of pre-production expenditures) on profits from production. The Agreement is also subject to the approval of Alexco's board of directors. Dr. Art Ettlinger, P.Geo. & President of True North is the Qualified Person for the Brewery Creek Project and is responsible for the technical content of this news release. About Golden Predator Royalty & Development Corp. Golden Predator's corporate mandate is to establish a self-funded precious metal exploration company with an immediate focus on exploring for and developing world class gold deposits in the Tintina Gold Trend. The Company seeks internal revenue generation from early high grade precious metals production in Nevada augmented by increasing revenues from its royalty portfolio. In the Yukon, in 2009 the Company is aggressively exploring its three Yukon properties, Gold Dome, Brewery Creek, and Antimony, in the prolific Tintina Gold Trend through its wholly owned subsidiary True North Mining Corp. Brewery Creek currently is authorized under mining leases, a Type A water license and a production license. In Nevada, Golden Predator is planning to drill a number of its properties with bonanza-style gold mineralization in 2009 with the intent of identifying one or more properties for near term production of small-tonnage high grade ores. The Company intends, through its strategic use of its Taylor Mill near Ely, Nevada and a facilities use agreement at EMC Metals Corp.'s Springer Facility in Pershing County, Nevada, to become a mid-tier precious metals producer. Golden Predator is partially self-financed through its passive pre-production royalty stream from a portfolio of properties, anticipated to yield approximately $1.2 million during 2009. The Company owns royalties on several known deposits including a portion of the Barrick Bald Mountain property, the Pan deposit of Midway Gold, significant portions of US Gold's Tonkin Springs deposit and Evolving Gold's Rattlesnake project. 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.