Pacific Gold Corp.

Pacific Gold Corp.
Oregon Gold, Inc.
OTC Bulletin Board : ORGG

June 30, 2009 13:51 ET

Pacific Gold Corp.-Corporate Update

TORONTO, ONTARIO--(Marketwire - June 30, 2009) - Pacific Gold Corp. (PINK SHEETS:PCFG) announced today that it has entered into an extension agreement with Yorkville Advisors regarding the convertible notes that were due on June 20th, 2009.

The extension agreement calls for the Maturity date of the notes to be extended to August 20th, 2009.

As of June 30th, the principal balance on the notes has been paid off and the remaining amount of interest is approximately $97,000. The interest is convertible into shares of the Company at the closing price (with no discount) from the day prior to the remaining installment dates, which are the 1st and 15th of July and the 1st and 15th of August.

In addition, Nevada Rae Gold announces that it has increased its reclamation bond amount with the Nevada Division of Minerals bond pool in order to comply with the increased bond calculation by Bureau of Land Management and Nevada Division of Environmental Protection. The Company is meeting its requirements and the Black Rock Canyon mine remains in good standing.

The Company is investigating financing opportunities in order to restart production at the Black Rock Canyon mine and in order to complete the 2008 audit and 10-K annual report.

To find out more about Pacific Gold Corp. (PINK SHEETS:PCFG), visit the Company's website at Or contact the Company directly at 416-214-1483.

About the Company

Pacific Gold Corp.'s business plan provides for the acquisition and development of production-ready and in-production mining operations. The company is focused on alluvial gold and base metals operations located in western North America. Pacific Gold Corp. owns five operating subsidiaries: Nevada Rae Gold, Inc. ("Nevada Rae") owns and operates the Black Rock Canyon gold mine, located in north-central Nevada; Pilot Mountain Resources Inc. ("Pilot Mountain") owns Project W, a large tungsten based deposit in Nevada; Fernley Gold, Inc. ("Fernley Gold") acquired exclusive lease rights to mine the Lower Olinghouse Placers in north-western Nevada; Oregon Gold, Inc. ("Oregon Gold" now trading under the symbol ORGG) (OTCBB:ORGG) owns the Bear Bench claims and Defiance mine, located in south-western Oregon; and Pacific Metals Corp. ("Pacific Metals") owns claims in San Juan and Delores Counties, Colorado, encompassing the historic Graysill Mine.

This news release includes forward-looking statements that reflect Pacific Gold Corp.'s current expectations about its future results, performance, prospects and opportunities. Pacific Gold Corp. has tried to identify these forward-looking statements by using words and phrases such as "may", "will", "expects", "anticipates", "believes", "intends", "estimates", "should", "typical", "we are confident" or similar expressions. These forward- looking statements are based on information currently available to Pacific Gold Corp. and are subject to a number of risks, uncertainties and other factors that could cause the Company's actual results, performance, prospects of opportunities in the remainder of 2009 and beyond, to differ materially from those expressed in, or implied by, these forward-looking statements.

Contact Information

  • Pacific Gold Corp.
    Mitchell Geisler