High Desert Gold Corporation

High Desert Gold Corporation

May 13, 2009 19:34 ET

High Desert Gold Corporation Files First Quarter 2009 Financial Statements

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 13, 2009) - High Desert Gold Corporation ("HDG" or the "Company") (TSX:HDG)(TSX:HDG.WT) reports that it has released its unaudited interim consolidated financial statements for the three months ended March 31, 2009 and the related management's discussion and analysis of financial position and results of operations ("MD&A").

The Company experienced a significant reduction in working capital following the completion of its substantial issuer bid (Press Release 09-01 dated January 8, 2009). As at March 31, 2009, the Company had working capital of $1.2 million. There are currently 7,190,464 shares issued and outstanding.

HDG's plan for 2009 is to focus on its gold properties and to joint venture its copper properties. A drill program is envisaged to extend the known mineralization at Canasta Dorada and a surface program will be completed at Artillery Peak. Joint venture agreements will be considered for all properties if terms are favourable.

Copies of the unaudited interim consolidated financial statements and related MD&A can be found on SEDAR at www.sedar.com.

Certain statements contained herein constitute "forward-looking statements". These forward-looking statements are based on current expectations and entail various risks and uncertainties. The nature, timing and extent of the exploration programs may materially change from current intentions for a number of reasons. Additionally, "forward looking statements" look into the future and provide an opinion as to the effect of certain events and trends on the business. Subject to applicable laws, 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.

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

Contact Information

  • High Desert Gold Corporation
    William Filtness
    Chief Financial Officer
    (604) 684-0693
    (604) 684-0642 (FAX)