TSX: GPD

VANCOUVER, July 16, 2012 /CNW/ - Golden Predator Corp. (TSX: GPD) (the "Company") and Tr'ondëk Hwëch'in First Nation ("THFN") are pleased to announce they have agreed to enter into an Amended and Restated Socio Economic Accord for Golden Predator's flagship Brewery Creek Project. The 2012 Socio Economic Accord, which will take effect on closing of the Company's acquisition of a 100% interest in the Project from Alexco Resource Corp. (see GDP NR 12-06 February 15th, 2012), updates the existing Socio Economic Accord for the Brewery Creek Project in effect since its signing in 1996. A signing ceremony will be at 4 pm on Monday, July 23rd at the Dänojà Zho (Long Ago House) Cultural Centre in Dawson City, Yukon.

Golden Predator and the Tr'ondëk Hwëch'in First Nation will continue to build on their effective working relationship, fostering successful social and economic development of THFN and its citizens while ensuring successful environmental screening, licensing and permitting, financing and construction and operation of the Brewery Creek Project.

"After intense negotiations, the Tr'ondëk Hwëch'in are pleased to be forging a beneficial relationship with Golden Predator," said Chief Ed Taylor. "We support their efforts to re-open the Brewery Creek Mine. We believe this mine can operate in an environmentally responsible way, and provide substantial benefits to both the Tr'ondëk Hwëch'in and the community of Dawson. We appreciate the open spirit in which Golden Predator is undertaking this task, and our people look forward to the training, employment and contractual opportunities which will be available."

"We are very pleased to have successfully completed negotiations, and I commend the negotiating team for concluding a timely agreement that will benefit both Golden Predator and Tr'ondëk Hwëch'in for many years to come," said William M. Sheriff, Chairman & CEO. "We have found the Tr'ondëk Hwëch'in First Nation to be progressive in their approach to exploration and mining, and believe this approach, combined with the modernized Socio Economic Accord, will serve the Project and community well going forward."

Key aspects of the Socio Economic Accord include:

• THFN support for the Project;
• THFN endorsement for the Company's permitting applications, with a clear process for THFN to review and provide input prior to filing, and a mechanism to expeditiously address and resolve any concerns THFN may have;
• a consistent and clear process for communication on all matters pertaining to the Brewery Creek Project and resolving any disputes that may arise;
• preferential employment and economic development opportunities for TH businesses and citizens;
• THFN acquiring an equity interest in the Company, and participating in profit sharing from operations beyond the original mine plan;
• funding for training and scholarships for TH citizens; and
• an annual grant to a community legacy project for the broader community of Dawson.