GOLD: Updated socio-economic accord signed for Brewery Creek project

YUKON – Property owner Golden Predator of Vancouver and the Tr’ondek Hwech’h (TH) have amended their socio-economic accord for the Brewery Creek gold project 55 km east of Dawson. The original accord was signed in September 2012. Under the terms of the accord, the TH were to receive $150,000 worth of common shares in September 2013. TH agreed to extend that payment date due to market conditions in 2013.  The amendment updates the accord to adjust the share payment to $150,000 in common shares of the Golden Predator at a price of $0.61 per share, for a total of 245,901 shares. A preliminary economic assessment was prepared in 2014 for the former mine. It examined an open pit and heap leach that would operate seasonally for nine years. The life of mine capital costs are estimated at $89.4 million. The project has a pre-tax net present value (5% discount) of $18.1 million with a gold price of US$1,150/oz. Golden Predator is seeking a joint venture partner. Details are available at www.GoldenPredator.com.