cnw




TSX: GPD






VANCOUVER, Jan. 23, 2013 /CNW/ - Golden Predator Corp. (TSX:GPD) (the "Company") announces that as a result of a review by the British
Columbia Securities Commission, the Company is issuing this news
release to clarify and retract certain technical disclosure. In
connection with the review, the Company will file an amended technical
report under National Instrument 43-101 ("NI 43-101") standards on its
Brewery Creek Project (the "Project"). The amended report does not
change the resource estimates on the Project that were announced on
June 18, 2012.


Company Website Updates

The Company has removed from its website video interviews dated April
12, 2012 and October 9, 2012, with Mr. William Sherriff. The Company
has also removed all prior corporate presentations from the website and
replaced them with an updated and amended corporate presentation.
Disclosure was made in those interviews and prior presentations
regarding the Project that the Company hereby retracts, including:



Forecasts regarding timing for production;


Forecasts regarding production rates of various phases;


Statements as to targeted deposit size;


Reference to the term "ore"


Capital cost estimates to place a mine into production; and


Cost per ounce and recovery rate information.



The Company hereby notifies viewers of the videos that the above
disclosures are not supported by a mining study or reserve report, and
should not be relied upon. The Company has engaged EBA Engineering
Consultants Ltd. to prepare a preliminary feasibility study on the
Project, which is currently expected to be available in the second
quarter of 2013. Pending the release of results from the preliminary
feasibility study the Company hereby advises that it does not have
established reserves on any of its properties.


Disclosure of Resources and Reserves on Royalty Properties

The Company's disclosure in news releases and in its corporate
presentations included disclosure that did not comply with NI 43-101
standards. This disclosure is summarized below along with the
Company's action in response.



Disclosure on royalty portfolio properties in some cases added proven
reserves to probable reserves, and measured resources to indicated
resources, without also providing the estimates separately in each
category. In addition disclosure on royalty portfolio properties in
some cases did not state grade and quantity for each category of
reserve or resource. Disclosure on the Company's royalty interest in
the Gold Rock project also included projected annual mining rates and
time frames that are unsupported by a technical report. In response,
the Company has updated its corporate presentation and other disclosure
on its website to present the categories of reserves and resources
separately for each royalty property where applicable, and to remove
projected production information that is not supported by a technical
report. The Company notes that in the case of the Bald Mountain
property, operated by Barrick Gold, information is not currently
available for each category of proven and probable reserves, and the
Company is requesting the information.






Recovery rates of oxide gold on the Project was stated at 70%, rather
than 65% as reported in the most recent technical report filed in
connection with the Project. The Company hereby retracts any reference
to a 70% recovery rate as such rate is not supported by a current
technical report.






References to "Discoveries" and "Major Discoveries" in disclosure
relating to the Project's Sleeman, Bohemian and Classic Zones did not
include discussion of why past work done in those zones did not support
a discovery, or reasons otherwise applied by the Company in classifying
these zones as discoveries. The Company wishes to clarify that the
results of past drilling and trenching in these zones were not
considered sufficient to conclude the existence of a discovery. The
results of drilling by the Company in 2011 and 2012, which included new
and separated drill-hole locations and under-trench drilling were
included in the Company's assessment that the zones could reasonably be
disclosed as discoveries.



Grew Creek Update

In February of 2012 the Company announced by news release that it had
cut short its 2011 work program in order to focus on its Brewery Creek
Project. Further to that news release the Company wishes to clarify
that it will not be proceeding with an independent resource estimate on
the Grew Creek Project at this time for the foregoing reason.


Amended Technical Report on Brewery Creek

The Company filed on SEDAR on October 11, 2012 a technical report
entitled "Updated Mineral Resource Estimate for the Brewery Creek Property Yukon
Territory, Canada" effective March 11, 2012. An amended technical report will be filed
that addresses certain form requirements of NI 43-101, as well as
removes certain information that was not required under NI 43-101. The
amended report does not change the previously announced resource
estimates. Items that were amended include (i) qualification of
certain metallurgical information as being historical in nature and
identifying additional metallurgical work required to improve processes
required for optimal recoveries; (ii) removing reference to a 75%
recovery for milling the sulphide resources; (iii) verification of
historical drill and sample data and procedures; (iv) adding
description for external boundary constraints for each resource model
(solids); and (v) removal of the cost model which is not required for
the current study.


Mr. Michael Maslowski, Bsc, CPG, the company's Chief Operating Officer
and a Qualified Person under NI 43-101, has approved the scientific and
technical information contained in this news release.




About Golden Predator Corp.

Golden Predator Corp. announced on January 18, 2013 a planned change of
name to Gold Bullion Royalty Corp., in order to focus entirely on
royalty and streaming by building on its existing portfolio of 34
projects. Our wholly owned subsidiary Golden Predator Canada Corp.
will continue to advance the Brewery Creek Project as a separate entity
to be divested to shareholders by spin-out or similar transaction.


Gold Bullion Royalty Corp. will focus on royalty and streaming assets
providing revenue as well as lower risk exposure to shareholders
through project diversity in first world jurisdictions. The Company's
existing portfolio is highlighted by Gross in-kind Royalties on Midway Gold's Pan and Gold Rock deposits, as well as 2
separate projects encompassing more than 34 square miles at Barrick's
Bald Mountain project in Nevada.


The Company holds additional royalties including a Net Smelter Royalty
on the Taylor Silver project and a portion of the Tonkin Springs
project also in Nevada. The entire package comprises more than 100,000
acres located primarily in Nevada, with 7 of the projects located in
Wyoming, Oregon, California and Mexico. Current royalty revenue is
anticipated to experience acceleration as early as 2014 as several of
these projects begin to advance. As Gold Bullion Royalty Corp., the
Company's royalty portfolio will remain unique in the mineral
development industry due to its ability to receive the majority of
projected revenues in-kind (gold bullion as opposed to cash).


Golden Predator Canada Corp. will remain the Yukon's Gold Company, and will be mandated to become the Yukon's next gold producer by
advancing its 100% owned Brewery Creek Project with a production goal
of 2014. The Company has an extensive exploration portfolio in the
Yukon including advanced road accessible assets at Clear Creek, Grew
Creek and Gold Dome along with Cache Creek and Rogue projects in the
Selwyn Basin. Golden Predator Canada Corp. will continue to have one of
the largest controlled land positions in the Yukon, and is proud of
their demonstrated commitment to strong relationships with First
Nations and local communities.




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: Golden Predator Corp.



For further information:

Golden Predator Corp. William M. Sheriff, Chairman & Chief Executive Officer (208) 635-5415 info@goldenpredator.com http://www.goldenpredator.com/">www.goldenpredator.com