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by Stockwatch Business Reporter

New York spot gold rose $2.90 on Thursday, closing at $1,257.80. The TSX Venture Exchange gained 6.95 points to 777.50 while the TSX Gold Index gained 2.78 points to 212.00. Most Canadian gold miners moved higher, led by Franco-Nevada Corp. (FNV), which added $1.02 to $85.41 on 1.08 million shares, and McEwen Mining Inc. (MUX), which rose 10 cents to $4.45 on 1.07 million shares.

Janet Lee-Sheriff's Golden Predator Mining Corp. (GPY), up five cents to 85 cents on 2.02 million shares, has received assays of up to 32.1 grams of gold per tonne over 5.1 metres at its Brewery Creek project in west-central Yukon. The drilling was required to gather metallurgical, geotechnical and environmental information, generally at shallow depths and near the old pits, so the "significantly higher than anticipated" gold grades were a pleasant surprise. Ms. Lee-Sheriff, chief executive officer, says the results demonstrate the potential for higher grades and show that significant amounts of oxide mineralization remain in the pits. This has Ms. Lee-Sheriff considering possible options for advancing the old project.

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