SOURCE: Reno Gold Corporation

September 25, 2007 08:15 ET

Reno Gold Corp. Issues Shareholder Update

VAUGHAN, ON--(Marketwire - September 25, 2007) - Reno Gold Corp (PINKSHEETS: RNGG) ( the "Company") is pleased to announce a shareholder update.

"Our company is very busy preparing our program for the Good Hope Property," said Talal Chehab, Secretary Treasurer of Reno Gold Corp. "The process of identifying rigs for drilling, closing off the permitting, and securing staffing is well under way. We also expect to be able to move forward on financing options for our program on the Good Hope Project. Reno Gold Corp has been speaking to a number of sources for funding in Canada and the USA. Our strong land position in the Carlin Trend makes us an attractive investment alternative in the junior mining sector."

"The recent move by gold to the $735 USD per ounce mark, gives our company the blue sky that many investors are looking for in a junior gold mining company," said Mr. Chebab. "Our company is in an area in Nevada which has major names like Newmont and numerous juniors in the USA and Canada. The State of Nevada as a stand alone country would rank fourth in the world for gold production behind South Africa, Australia and China. The state has some of the largest gold deposits on the planet, with the most significant discoveries occurring in the Carlin Trend. Nearly 60 million ounces of gold have been produced from the Carlin Trend and 120 million ounces remain in the ground."

In closing, Mr. Chebab said, "We will look to close a funding in the next 60 days. This will be done at much higher prices and will not be done on a dilutive basis. If we do everything right here we expect the share price to be much higher."

About Reno Gold: (http://www.renogoldcorp.com)

Reno Gold Corp. is a publicly traded company that trades on the NASD Pink Sheets under the trading symbol RNGG. The Company is a precious metals exploration Company concentrating its efforts in the Nevada area. Nevada is recognized as one of the world's foremost destinations for the discovery and production of precious metals, attracting companies such as Newmont Mining, Barrick Gold and Glamis Gold.

This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.

Contact Information

  • Contact:
    Reno Gold Corp.
    Investor Relations
    416-960-4144