Golden Predator Mining Corp. Announces Termination of Arrangement Agreement with Viva Gold Corp.

Rhea-AI Summary

Golden Predator Mining Corp. (TSX.V: GPY; OTCQX: NTGSF) has terminated its arrangement agreement with Viva Gold Corp., originally set up for the acquisition of Viva Gold’s shares. Despite this, Golden Predator plans to distribute 8,620,000 common shares of C2C Gold Corp. through a return of capital transaction to its shareholders. The company remains focused on advancing the Brewery Creek project in Yukon, working on the renewal of its mining and water use licenses with support from the Tr’ondek Hwech’in First Nation.

Positive

• Plans to distribute 8,620,000 shares of C2C Gold Corp. to shareholders.
• Advancing the Brewery Creek project with ongoing license renewal efforts.

Negative

• Termination of acquisition agreement with Viva Gold may signal challenges in growth strategy.

VANCOUVER, British Columbia, May 03, 2021 (GLOBE NEWSWIRE) -- Golden Predator Mining Corp. (TSX.V: GPY; OTCQX: NTGSF) ("Golden Predator") announces that the Company and Viva Gold Corp. (“Viva Gold”) have mutually agreed to terminate the arrangement agreement dated March 2, 2021 for the proposed acquisition of all of the issued and outstanding shares of Viva Gold by Golden Predator. Golden Predator also advises, regardless of the terminated Agreement with Viva Gold, Golden Predator will proceed with its plans to distribute 8,620,000 common shares of C2C Gold Corp. to shareholders of record of Golden Predator Mining Corp. by way of a return of capital transaction. A date of record will be announced.

Golden Predator will continue to focus on advancing its Brewery Creek project in the Yukon through the permitting renewal process. The Company is working with the Yukon Department of Energy, Mines and Resources, and the Yukon Water Board to renew its mining and water use licenses, with the ongoing support of the Tr’ondek Hwech’in First Nation.

ABOUT GOLDEN PREDATOR MINING CORP.
Golden Predator is advancing the past-producing Brewery Creek Mine towards a timely resumption of mining activities in Canada’s Yukon. The project has established resources grading over 1.0 g/t Gold and both a technical report and Bankable Feasibility Study underway to define the economics of a restart of heap leach operations at the Brewery Creek Mine. The 180 km² brownfield property is located 55 km by road from Dawson City, Yukon and operates under a Socio-Economic Accord with the Tr’ondëk Hwëch’in First Nation. The Company also holds the Marg Project, with a 43-101 compliant resource, the Gold Dome Project and Grew Creek Project. For additional information on Golden Predator and the Brewery Creek Mine, please visit our website: www.goldenpredator.com.

FOR ADDITIONAL INFORMATION:

GOLDEN PREDATOR MINING CORP. Janet Lee-Sheriff, Chief Executive Officer (604) 260-0289 info@goldenpredator.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

FAQ

What recent changes occurred with Golden Predator Mining Corp. (NTGSF) regarding its acquisition plans?

Golden Predator Mining Corp. has terminated its arrangement agreement with Viva Gold Corp. for the acquisition of shares.

What is Golden Predator's plan following the termination of the Viva Gold acquisition?

Following the termination, Golden Predator plans to distribute 8,620,000 shares of C2C Gold Corp. to its shareholders.

How is Golden Predator Mining Corp. advancing its Brewery Creek project?

The company is working on renewing its mining and water use licenses with support from the Tr’ondek Hwech’in First Nation.