Golden Predator Completes $2.8 Million Offering

Vancouver, BC, May 20, 2020: Golden Predator Mining Corp. (TSX.V: GPY; OTCQX: NTGSF) (the “Company” or “Golden Predator”) is pleased to announce that it has completed its previously announced short form prospectus offering (the “Offering”) and has issued a total of 11,200,000 units (the “Units”) at a price of $0.25 per Unit for gross proceeds of $2.8 million. The Offering was fully subscribed.

Each Unit consists of one Class A common share (a “Common Share”) and one-half of one Common Share purchase warrant. Each whole warrant is exercisable at $0.35 per Common Share for a period of three years from closing, subject to acceleration of the expiry date to the 30th calendar day following notice to holders in the event that the volume weighted average price of the Company’s shares is equal to or higher than $0.75 for a period of 5 consecutive trading days on the TSX Venture Exchange or other Canadian stock exchange on which the Company’s shares are principally traded.

The Offering was completed pursuant to an agency agreement dated May 13, 2020 among Clarus Securities Inc. as agent (the “Agent”) and the Company. The Company paid the Agent a cash fee equal to 7.0% of the gross proceeds of the Offering.

The net proceeds raised from the sale of the Units under the Offering will be used by the Company for the oxide core development/metallurgy drilling on the Reserve and Classic Trends at the Brewery Creek Property, bulk sampling, metallurgical column and geotechnical testing, preparation of an updated mineral resource estimate for the Brewery Creek Property, completion of a mineral resource estimate on the material on the heap leach pad, a feasibility study (subject to establishing a mineral resource on the heap leach material) on reprocessing the material on the heap leach pad at the Brewery Creek Property, and for working capital and general corporate purposes.

PowerOne Capital Markets Limited also acted as a special advisor to the Company.

Golden Predator Mining Corp.

Golden Predator is advancing the past-producing Brewery Creek Mine towards a timely resumption of mining activities, under its valid Quartz Mining and Water Licenses, in Canada’s Yukon.0 With established resources grading over 1.0 g/t Gold and both a technical report and feasibility level study underway considering the economics of a restart of heap leach operations at the Brewery Creek Mine, 2020 proves to be a pivotal year for the Company. Drilling continues to expand the open-ended resources and untested targets across the 180 km2 brownfield property located 55 km by road from Dawson City, Yukon. The Company has a Socio-Economic Accord with the Tr’ondëk Hwëch’in First Nation.

For additional information:

Janet Lee-Sheriff

Chief Executive Officer

604) 260-0289
info@goldenpredator.com
www.goldenpredator.com

NT4