Golden Predator Engages GMP Securities LP as Fiscal Advisor

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 7, 2008) - Golden Predator Mines Inc. (TSX: GP.TO) is pleased to announce that the Company has engaged GMP Securities LP to act as fiscal advisor to the special committee of the Board of Directors of the Company in connection with the Company's proposed business combination with Midway Gold Corp. In particular, GMP Securities LP will prepare an opinion on the fairness to the shareholders of the Company from a financial point of view of the proposed business combination with Midway Gold Corp.

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 contact us as follows:

Golden Predator Mines Inc.

Bill Sheriff, President and CEO: (972) 333-2214

Art Ettlinger, CTO: (604) 685-1964

David Pollack, Corporate Communication (604) 648-4668

Information Regarding Forward-Looking Statements: Except for historical information contained herein, the statements in this Press Release are forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which may cause Golden Predator's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things: volatility of natural resource prices; product demand; market competition and risks inherent in the company's operations. These and other risks are described in the Company's public filings with Canadian Securities Regulators available at www.sedar.com.

For more information please see our Website at www.goldenpredator.com, or send questions and comments to info@goldenpredator.com.

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

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

Art Ettlinger
Golden Predator Mines Inc.
CTO
(604) 685-1964

David Pollack
Golden Predator Mines Inc.
Corporate Communication
(604) 648-4668

Christine Thomson
Golden Predator Mines Inc.
Corporate Secretary
(604) 648-4656
Email: info@goldenpredator.com
Website: www.goldenpredator.com