Front Street Capital Fund Purchases $5 Million of Golden Predator Shares in Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 3, 2008) - Golden Predator Mines Inc. (TSX: GP.TO) is pleased to announce it has completed the previously announced private placement of 2,500,000 shares of Golden Predator at a price of $2.00 per share for proceeds of $5 million. The shares were fully subscribed for by Front Street Investment Management Inc., a division of Front Street Capital of Toronto.

In connection with the private placement the company paid a finders fee of $250,000 to Peninsula Merchant Syndications Corp. The shares issued pursuant to the private placement will be subject to a four month hold period.

Further information on Golden Predator Mines Inc. is available on the SEDAR web site at www.sedar.com and on the company's web site at www.goldenpredator.com, or see below contact information.

This press release does not constitute an offer of securities in the United States. The securities referenced herein have not been and will not be registered under any federal or state securities law of the United States, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this press release.

Contacts

Christine Thomson
Golden Predator Mines Inc.
Corporate Secretary
(604) 648-4656

Bill Sheriff
Golden Predator Mines Inc.
President and CEO
(972) 333-2214

Art Ettlinger
Golden Predator Mines Inc.
CTO
(604) 685-1964
Email: info@goldenpredator.com
Website: www.goldenpredator.com