Ms. Janet Lee-Sheriff reports

GOLDEN PREDATOR COMMENCES 3 ACES DRILL PROGRAM

Golden Predator Mining Corp. has started its drill program at the 3 Aces project in Canada's Yukon. The drilling contract was awarded to a unique progressive joint venture between Boart Longyear and the Liard First Nation. The company has commenced use of the recently completed bridge crossing the Little Hyland River, reducing operational costs and allowing for year-round operations.

3 Aces drill program

The drill program is intended to test high-grade mineralization exposed in a number of trenches along strike and downdip in the Ace of Spades zone and the Jack of Spades zone, and from additional mineralized veins in the Spades, Hearts and Clubs areas. Together, the Clubs, Diamond, Hearts and Spades areas encompass approximately 10.5 square kilometres.

The 3 Aces drill program is targeted to complete a minimum of 3,500 m of 5.5-inch-diameter reverse circulation (RC) drilling and 400 m of PQ core drilling in the fourth quarter of 2016. Drilling is expected to continue into December, 2016, and commence again in the first quarter of 2017.

Highlights of the last RC drilling on the Ace of Spades zone included (news release dated June 20, 2016):

• 11.43 m of 31.89 grams per tonne gold from a depth of 12.80 m;
• 6.40 m of 13.80 g/t gold from a depth of 22.55 m;
• 2.28 m of 96.78 g/t gold from a depth of 3.51 m;
• 10.36 m of 14.30 g/t gold from a depth of 10.06 m.

In addition, panel sampling of trenches from the recently discovered Jack of Spades zone included gold assays up to 186.5 g/t. The Six of Clubs and Ten of Clubs veins reported 16.85 g/t gold and 10.65 g/t gold, respectively.

About 3 Aces

The 3 Aces property is a 225-square-kilometre property consisting of 1,118 contiguous quartz claims (23,000 hectares) located in southeast Yukon and includes the two highest-grade surface outcrops discovered to date in Yukon. The veins discovered are characterized by coarse gold with a low sulphide content consistent with an orogenic vein model. The property is located along the all-season Nahanni Range Road which accesses the Cantung mine located 40 kilometres to the north.

The 3 Aces property contains a number of quartz veins and vein zones that cut Cambrian-aged limestone, shale, quartz grits and chert pebble conglomerates of the Hyland group. Previous sampling and exploration by Golden Predator have outlined extensive gold-in-soil anomalies over 10 square kilometres, including the five high-grade gold-in-quartz veins that contain coarse gold. Exploration work in 2015 and 2016 to date, including metallurgical studies, rotary air blast (RAB) drilling, RC drilling and bulk sampling, has focused on establishing the grade and continuity of the Ace of Spades vein where previous diamond drilling had intersected the vein but returned lower-than-expected grades. The work in 2015 and 2016 has confirmed the high grades of the vein by establishing a sampling protocol that is resulting in a better estimation of gold grades within the veins. This work, the sampling protocol and the drilling program, has been designed to significantly advance the understanding and discoveries on the project in 2016 and 2017.

The 3 Aces property is located in the traditional territory of the Kaska Nation. In January, 2013, Golden Predator signed an exploration agreement with the Kaska Nation, as represented by the Ross River Dena Council and the Liard First Nation, with respect to activities within their traditional territories.

The technical content of this news release has been reviewed and approved by Mark Shutty, CPG, a qualified person as defined by National Instrument 43-101 and an employee of the company.

Golden Predator Mining

Golden Predator Mining is focused on advancing its high-grade 3 Aces project in Canada's Yukon. The 3 Aces property is a 225-square-kilometre property consisting of 1,118 contiguous quartz claims (23,000 hectares) located in southeast Yukon. Many of the veins discovered to date are characterized by coarse gold with a low sulphide content.

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