Golden Patriot Update
July 12 2007 - 5:00AM
PR Newswire (US)
Trading Symbols: GPTC - OTCBB GPU - Frankfurt Stock Exchange 784832
- WKN # VANCOUVER, July 12 /PRNewswire-FirstCall/ -- Golden
Patriot, Corp. ("Golden Patriot" or "GPTC") (OTCBB: GPTC)
(Frankfurt Stock Exchange: GPU) is extremely pleased to announce
that the progress report on the geological, radiometric and
geochemical investigation and summary of drilling results on the
Lucky Boy Uranium property has been received detailing the results
from the Plan of Operations that was completed during the last
quarter of 2006. The Plan of Operations included a 25 hole drilling
program intended to define economic uranium mineralization. After
several months of compiling all the data from various sources it
has been determined that a strike length of several hundred feet
with a thickness of approximately 5 to 10 feet with intercepted
grades of .1% U or greater warrants GPTC to submit a further Plan
of Operation to the various state and government agencies for
further drilling and to consider small-scale mining. This will
include potentially putting the probable and proven mineralization
into production, while at the same time continuing the drill
testing phase on other areas on the property that have showed
potential from either the MMI geochemical surveys and/or the
anomalous Into XRF readings taken at surface and underground. Mr.
John Rud, Geologist, M.Sc.has been responsible for directly and
indirectly bringing over 20 mines into production in his career,
and has also built and designed over 25 mills for various
commodities. His experience in uranium exploration and mining is
extensive and he states that starting up a small-scale mining
operation on the Lucky Boy is most likely a feasible proposition
that could bring a cash-flow situation to Golden Patriot in the
near future. Mr. Bradley Rudman, President of Golden Patriot
states, "Over the next several months Golden Patriot will be
working with the geological team to determine a new Plan of
Operations and to prepare all the necessary paperwork and filings
for the permits needed as well as to determine the environmental
studies needed to try and put this potential strike of production
grade Uranium into production. With uranium prices at these high
levels ($135/pound) and with the potential of going higher, it
seems the right time to put all the paperwork into place and to
move forward with an exploration and production agenda." Golden
Patriot is a junior exploration company that has active interests
in both uranium and gold prospects. To receive timely updates and
information on any future developments as they occur please email
us at . Disclaimer: This announcement may contain forward-looking
statements which involve risks and uncertainties that include,
among others, limited operating history, limited access to
operating capital, factors detailed in the accuracy of geological
and geophysical results including drilling and assay reports; the
ability to close the acquisition of mineral exploration properties,
and other factors which may cause the actual results, performance
or achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements. More information is included in
Golden Patriot, Corp. filings with the Securities and Exchange
Commission, and may be accessed through the SEC's web site at
http://www.sec.gov/. CONTACT: Brad Rudman, Tel: (516) 343-6990,
http://www.goldenpatriotcorp.com/ DATASOURCE: Golden Patriot, Corp.
CONTACT: Brad Rudman, Tel: (516) 343-6990,
http://www.goldenpatriotcorp.com/
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