SOURCE: Hemisphere Gold Inc.

October 23, 2007 09:30 ET

Hemisphere Gold Begins Setting Up Grids on Second Anomaly Within Suriname Concession

Some Sampling Returning Results as High as 24 g/t Gold

RENO, NV--(Marketwire - October 23, 2007) - Hemisphere Gold Inc. (PINKSHEETS: HPGI), a gold exploration, property acquisition and mining development company, is pleased to announce that it has begun to set up its second grid system along the second identified anomaly within the property.

This second trend lies directly south of the first anomaly that the company has been working. The second occurrence high values from the stream sediment sampling program conducted by the company in the previous year. Some of the samples returned results of 24 g/t gold. By comparison, the first anomaly had values of as high as 8g/t gold.

The strongest anomalous zone extends over an area of eight square kilometers with 23 samples returning from 110 to 25,800 ppb gold (24g/t), in contrast with a mean background value of 19 ppb. Re-analysis of 15 anomalous stream sediment samples has returned values of silver up to 21.6g, nickel up to 520ppm, copper up to 100ppm, and zinc up to 152ppm.

This anomalous ridge of land forms a watershed for Suriname's historic Sara Kreek placer gold producing area. Since the late 1800s, river dredges and sluice operations have worked the river that flows along the western flanks of this ridge.

Company President Ted Pomerleau stated, "This area is on the same trend as the first anomaly that the company is working and with the values that have been seen from the stream sediment sampling program on this southern area, we are very confident that it is a very important area that should have our attention. We are confident that our exploration is moving along in a positive manner, and we are looking forward to continued positive results."

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