High Desert Gold Corporation

High Desert Gold Corporation

November 09, 2007 18:58 ET

High Desert Gold Corporation Files September 30, 2007 Quarterly Report

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 9, 2007) - High Desert Gold Corporation ("HDG" or the "Company")(TSX:HDG)(TSX:HDG.WT) reports that it has released its unaudited consolidated financial statements for the third quarter ended September 30, 2007 and that these consolidated financial statements and the related management's discussion and analysis of financial position and results of operations ("MD&A") are available for viewing on SEDAR at www.sedar.com.

In October 2007, the Company completed its IPO for gross proceeds of Cdn.$15 million. With this funding in place, the Company is in a strong financial position to pursue its current exploration and property acquisition strategy.

The Company's business objectives are to aggressively drill and explore its Canasta Dorada and Gold Lake properties. The Company also plans to explore its Monitor property, continue early stage exploration on its other existing properties and continue to evaluate new opportunities. Where appropriate, the Company intends to seek joint venture partners for certain of its properties.

Drilling is in progress at the Canasta Dorada property which is located in the Sonoran Gold Belt, a particularly gold enriched province extending from southern California through northern Sonora. Mines in this established gold trend include Mesquite, Picacho, La Herradura and El Chanate in the Caborca region of northwest Sonora, Mexico. The drilling is part of a planned 40 drill hole program. The first holes are located to drill into the exposed, potentially ore grade mineralization in the Big Pit area. One hundred and forty-three channel samples from this exposure, which covers an area of approximately 375 metres by 200 metres, averaged 1.2 grams per tonne gold.

At Gold Lake, the Company plans to aggressively drill and explore the geophysical and geochemical targets defined by the work completed on the property to date. Accordingly, the Company has planned a 5,000 metre drilling program at Gold Lake that is scheduled to begin in November 2007.

Certain statements contained herein constitute "forward-looking statements". These forward-looking statements are based on current expectations. 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. These forward-looking statements are based on current expectations and entail various risks and uncertainties. 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.

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
    William Filtness
    Chief Financial Officer
    (604) 684-0693
    (604) 684-0642 (FAX)