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High Desert Gold Corporation Plans Aggressive Exploration Program at Gold Springs in 2013 and Increases Ownership in the Project to 82%
By: Marketwired .
Feb. 13, 2013 07:35 PM
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/14/13 -- High Desert Gold Corporation ("HDG" or the "Company") (TSX VENTURE:HDG)(OTCQX:HDGCF) is pleased to report that The Company and its partner Pilot Gold Inc. ("Pilot"), have approved an aggressive exploration program at Gold Springs for this year that will comprise approximately 100 reverse circulation drill holes with a focus on expanding the resource at the Jumbo "trend" and adding a new resource at Grey Eagle.
This aggressive program increases the Company's interest in the property to 82% because Pilot has elected not to contribute financially to this program due to other priorities in their portfolio of properties.
Ralph Fitch, President and CEO of the Company, stated "We are very excited to move forward with an aggressive exploration program in 2013 with drilling expected to start in April and are pleased to have increased our ownership in Gold Springs, thereby providing our shareholders with increased exposure to the continuing success we are anticipating at the project."
The Company plans to announce the remaining drill results from the 2012 program within a few days, pending final analysis, and an updated resource on the Gold Springs Project based on the 2012 drilling results by the end of the 1st quarter, 2013.
ABOUT HIGH DESERT GOLD
The Company is a mineral exploration company that acquires and explores mineral properties, primarily gold, copper and silver, in North America. The principal property held by HDG is an 82% interest in the Gold Springs gold project situated along the border between Utah and Nevada. The Company also holds direct interests in a number of other properties including the San Antonio project in Sonora, Mexico, the Gold Lake property in New Mexico, and the Kinkaid and Pinyon properties in Nevada. The Company also has a 30.5% interest in the Canasta Dorada property in Sonora, Mexico, through its equity interest in Highvista Gold Inc.
Certain statements contained herein constitute "forward-looking statements". Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "will", "plan", "move forward", "continuing", "anticipating", "expect", and similar expressions. These statements include, but are not limited to, statements regarding the planned exploration program and continued advancement of the Gold Springs property. These forward- looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to the availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; changes in project parameters as plans continue to be refined and other risks more fully described in the Company's Management Discussion & Analysis of Financial Position and Results of Operations, which is available on SEDAR at www.sedar.com. The material assumptions that were applied in developing the forward-looking statements include: the availability of sufficient funding, equipment and qualified personnel and the timely receipt of permits to advance the Gold Springs project; and the execution of the Company's existing plans and further exploration and development programs for Gold Springs, which may change due to changes in the views of the Company or if new information arises which makes it prudent to change such plans or programs. Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Except as required by law, HDG assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Unless otherwise indicated, forward-looking statements in this release describe the Company's expectations as of February 13, 2013.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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