DAILY NEWS Feb 19, 2013 4:10 PM - 0 comments

GOLD: New review puts brakes on Golden Predator's Brewery Creek project

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2013-02-19

YUKON – Golden Predator Corp. of Vancouver has issued a joint news release with Tr'ondek Hwech'in (TH) decrying the decision of the Yukon Environment & Socio Economic Assessment Board's decision that the YESAB executive committee must review the proposal to reactivate the Brewery Creek gold mine 55 km east of Dawson City.

"An executive committee assessment would unnecessarily extend the period of review thus adding significant (currently unfunded) costs to the review and permitting process," said Golden Predator, noting that it may substantially delay any further development at Brewery Creek. "…which will in turn mean that the local community and the region will not see the significant benefits that have been anticipated from this project."

The company said it was under the impression that the YESAB's designated office in Dawson City would review the project description, as it had been led to believe during talks that occurred between October 2012 and January 2013. Thus, Golden Predator submitted its project application to the designated office in January, and after a month of adequacy review and contributions on the question of adequacy from all interested parties, the office bumped the review up to the executive committee.

Both Golden Predator and TH said the decision came as a surprise, and they noted that other similar mining projects have been reviewed by a designated office.

Brewery Creek is a past producing heap leach gold producer from 1996 through 2002. The project has all necessary permits required for additional exploration. It also has a Type A Water Licence and a Quartz Mining Licence with expiry dates of Dec. 31, 2021. Golden Predator is amending the water and mining permits in view of the new mine plan. Brewery Creek is also covered by a restated and amended socio-economic accord with Tr'ondek Hwech'in.

More information about the project is available at GoldenPredator.com.

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