High Desert Gold Corporation

High Desert Gold Corporation

November 14, 2007 15:54 ET

High Desert Gold Corporation Announces Notice of Exercise of Over-Allotment Option

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 14, 2007) - High Desert Gold Corporation ("HDG" or the "Company") (TSX:HDG)(TSX:HDG.WT) announces that it has received notice from MGI Securities Inc., as lead agent, on behalf of itself and Canaccord Capital Corporation (collectively, the "Agents"), of the exercise in full of the over-allotment option (the "Over-Allotment Option"), previously granted to the Agents by HDG in connection with the initial public offering of units of HDG that closed on October 17, 2007 (see HDG PR 07-02).

Pursuant to the Over-Allotment Option, HDG will sell an additional 4,500,000 units, each unit consisting of one common share and one half of one common share purchase warrant, at a price of $0.50 per unit for additional gross proceeds to HDG of $2,250,000. It is anticipated that the closing of the Over-Allotment Option will occur on or about November 16, 2007.

Certain statements contained herein constitute "forward-looking statements". These forward-looking statements are based on current expectations. Forward-looking statements may include words such as "plans", "intends", "anticipates", "should", "expects", "believes", "will" and similar expressions. The Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.

The Company is a mineral exploration company that acquires and explores mineral properties, primarily gold, copper and silver, in North America. The three major properties held by HDG are the flagship Canasta Dorada gold property in Sonora, Mexico, the Gold Lake porphyry copper-gold-molybdenum property in New Mexico and the Monitor copper-silver property in Arizona.

Contact Information

  • High Desert Gold Corporation
    Richard Doran
    Executive Vice President, Investor Relations
    (303) 584-0606
    (303) 758-2063 (FAX)
    Email: rdoran@highdesertgoldcorp.com