SOURCE: Hemisphere Gold Inc.

November 07, 2007 09:00 ET

Hemisphere Gold Reports Assay Results as High as 3.55 Ounces/Ton Gold From Alimonie South Grid Samples

Visible Gold Observed in Quartz Veins During Sampling

RENO, NV--(Marketwire - November 7, 2007) - Hemisphere Gold Inc. (PINKSHEETS: HPGI), a gold exploration, property acquisition and mining development company, is pleased to announce positive assay results from grab samples on the Alimonie South Grid.

The sampling methods, sample shipment, preparation, and data entry are following guidelines of international exploration under the supervision of a Qualified Person, Dr. Dennis J. LaPoint, and meet the guidelines of the TSX exchange and 43-101 Standards of Disclosure for Mineral Projects report requirements.

Sample      GOLD        GOLD in    Check Assay      GOLD in
number    grams/ton   Ounces/ton  grams/ton gold   Ounces/ton

GR45       110.44         3.55        113.22           3.64
GR60        25.50         0.82         24.60           0.79
GR42         8.97         0.29                         0.00
GR43         1.11         0.04                         0.00
GR46         1.10         0.04          1.30           0.04
GR47         1.01         0.03          1.09           0.04
GR62         0.47         0.02          0.48           0.02
GR41         0.41         0.01
GR44         0.16         0.01

During surveying and mapping the southern grid, grab samples were collected from small drainages being mined by local small scale miners (pockknockers). These very high assay results are from float derived from a near-by source.

Visible gold was seen in quartz veins with iron oxide coatings and limonitic voids developed from the weathering of pyrite. The samples come from different locations over 300 meters apart. The quartz veining is near the structural contact between sheared granite and very clay-rich soil that is thought to be weathered mafic igneous rock. This structure has pockknocker activity over a strike of at least 10 km.

The Company is now preparing the area to begin the Augering and sampling program.

President/CEO Ted Pomerleau stated: "These two areas will be worked extensively over the next six months. We feel that the Alimonie site which encompasses a large area has the potential of becoming a gold resource for the company."

About the Company

Hemisphere Gold Inc. is in the business of exploration and acquisition of gold properties in some of the world's best gold districts. The Company's objective is to take advantage of high-yielding untapped mineral producing properties through exploration and acquisition. The Company's flagship property is in Suriname, a democratic country which has had mining operations since the 1700s. Suriname is an emerging major gold producer with international companies showing interest. Hemisphere is committed to maintaining environmental stewardship, occupational safety and corporate responsibility.

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This press release may contain forward-looking statements which are pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that actual results may differ materially and all forward-looking statements involve risks and uncertainties including, without limitation, risks associated with the Company's financial condition and prospects, risks associated with mining exploration, risks of governmental legislation and regulation, risks associated with technological changes, risks associated with dependence on third parties, risks relating to international operations, delays in testing and evaluation of products and risks associated with competition.

Contact Information

  • Hemisphere Gold Inc.
    Investor Relations
    Barry Reagh
    Phone: (888) 548-8444