Golden Predator Sells Tonkin Springs Royalty for $5.85 MM

VANCOUVER, Jul 21, 2011, 2011 --Golden Predator Corp. (TSX:GPD) (the "Company") is pleased to announcethat it has agreed to sell its interest in the Tonkin SpringsProject to US Gold Corporation (TSX: UXG) for CAD $5,850,000. Priorto this sale, the Company had leased the interest to US Gold inexchange for a 5% gross smelter returns royalty with annual advanceminimum royalty payments, recoverable from production. The Companyretains a 1.4% net smelter returns royalty on all production from theclaims sold in excess of the previously reported resources (see USGold news release dated May 20(th), 2008). Royalty credits frompreviously paid advance minimum royalty payments in excess of USD$4,500,000, which would have been deducted from any future paymentsunder the 5% gross smelter returns royalty, have been extinguished.

"Realizing a significant gain from the disposition of TonkinSprings, a non-core asset in our Royalty Portfolio, underlines itssubstantial and tangible value," said William M. Sheriff, Chairman& CEO. "We continue to project that the gross smelter and netsmelter royalty payments on the principle assets in the RoyaltyPortfolio will finance a sizeable portion of our ongoing explorationexpenses. We are confident that with this model, we are offeringsignificant value to our shareholders."

Royalty Portfolio The Company's Royalty Portfolio is thefoundation of its business plan to generate internal revenue tosupport ongoing exploration and development work, diminishing theneed to dilute existing shareholders with ongoing financings.Highlights of the Royalty Portfolio include:

                                    - 4.0% GSR on the 286 claims in the
--  Barrick Gold Corp.          Bald Mountain Mine Plan of
Operations

- 1.0% in-kind GSR on the 7,700 ha
section of the Alligator-Bald
Regional Area that is currently
production (as of Q2 2009)

--  Midway Gold Corp.           - 4.0% GSR on the Pan Deposit

- 2.0% NSR on the Taylor Silver
--  Silver Predator Corp.       Mine

- 0.5% NSR on the Rattlesnake
--  Evolving Gold Corp.         Deposit

--  significant pre-production
revenue
--  property interests covering
over 28,000 ha, primarily
in Nevada

The Tonkin Springs claims have been held in the Company'sRoyalty Portfolio since it was acquired in March 2008 from the LyleCampbell Trust. However, the Company did not consider Tonkin Springs acore asset of the Royalty Portfolio and has not included theproperty in internal calculations of future revenue potential fromthe Royalty Portfolio. Closing of the transaction is scheduled tooccur on or before July 31, 2011.

About Golden Predator Corp. Golden Predator Corp., awell-funded exploration and development company, has a mandate to bethe leading gold property explorer and developer in Yukon, Canada.Golden Predator has a vast Yukon property position with threeadvanced gold projects, six pipeline prospects as well as explorationlandholdings, all totalling over 2300 km(2). The 2011 winter drillingprogram has been completed at the Brewery Creek project andcontinues at the Grew Creek project. In 2011 Golden Predator willcontinue aggressive drill programs and work towards completing initialresource estimates for Grew Creek and Clear Creek and updating theexisting resource estimate for Brewery Creek, in addition to conductinginitial drilling at the recently acquired Harlan project.

No stock exchange, securities commission or other regulatoryauthority has approved or disapproved the information containedherein. This press release contains projections and forward-lookinginformation that involve various risks and uncertainties regardingfuture events. Such forward-looking information can include withoutlimitation statements based on current expectations involving anumber of risks and uncertainties and are not guarantees of futureperformance. There are numerous risks and uncertainties that couldcause actual results and Golden Predator's plans and objectives todiffer materially from those expressed in the forward-lookinginformation. Actual results and future events could differ materiallyfrom those anticipated in such information. These and all subsequentwritten and oral forward-looking information are based on estimatesand opinions of management on the dates they are made and areexpressly qualified in their entirety by this notice. Except asrequired by law, Golden Predator assumes no obligation to updateforward-looking information should circumstances or management'sestimates or opinions change.

Golden Predator Corp. Investor Relations (604) 648-GOLD (4653) info@goldenpredator.com www.goldenpredator.com

www.goldenpredator.com