Golden Predator

The Brewery Creek Project is a past producing heap leach gold mining operation located in the northwestern region of the Yukon. A total of 278,484 oz Au was produced from seven near-surface oxide deposits along the property’s Reserve Trend from 1996 through 2002, when the mine (then operating under Viceroy Resource Corporation) shut down due to low gold prices. The 997 claim, 187 km2 property is located 55 km due east of Dawson City, accessible by paved and gravel roads from the junction of the North Klondike and Dempster Highways.

Resource modeling in support of an updated resource estimate was well under way at year end and an updated National Instrument 43-101 Resource is scheduled for release in Q1, 2012. The previous National Instrument 43-101 Indicated Resource of 3.98 million tonnes grading 1.135 gpt Au (145,000 contained ounces) and an Inferred Resource of 2.2 million tonnes grading 2.01 gpt Au (142,000 contained ounces), using a cutoff grade of 0.5 gpt Au was updated in July, 2009.

Drilling concentrated on delineating the two 2011 discoveries at the Bohemian-Schooner and Sleeman zones, with significant additional drilling on the North Slope and Classic zones, as well as the newly identified Ice Fog zone.

The Bohemian-Schooner has produced above average grades such as 74 m of 7.08 g/t gold in hole BC11-198, including 57.5 m of 8.90 g/t gold beginning at a depth of six metres. The Sleeman zone discovery intersected 191.5 m of 1.46 g/t gold beginning at a depth of 4.5 m in core hole BC11-226 (drilled subparallel to mineralized zone). Year-round drilling continues at Brewery Creek. Drilling to the end of November totaled approximately 50,000 m in 300 diamond and reverse circulation holes.

Detailed soil geochemical surveys, airborne geophysical surveys (magnetics) and geological mapping and surface sampling were conducted.

In addition, the company has expanded the project’s existing facilities with the installation of a 30-person, permanent all-weather camp, as well as making significant improvements to the existing multipurpose building at site.