High Desert Gold Corporation Files Second Quarter 2013 Financial Statements
August 22 2013 - 6:49PM
Marketwired
High Desert Gold Corporation ("HDG" or the "Company") (TSX
VENTURE:HDG)(OTCQX:HDGCF)(FRANKFURT:7HD) reports that it has
released its unaudited condensed interim consolidated financial
statements for the three and six months ended June 30, 2013 and the
related management's discussion and analysis of financial position
and results of operations ("MD&A"). In this press release, all
amounts are reflected in U.S. dollars.
As at June 30, 2013, HDG had cash and cash equivalents of $3.1
million. The Company also owns 10.7 million shares of Highvista
Gold Inc. (TSX VENTURE:HVV) (26.8% equity interest) which had a
quoted value of $610,000 as at June 30, 2013. These shares are
subject to a time-released regulatory escrow agreement.
The focus of the Company's exploration program in 2013 will be
to continue drilling the Grey Eagle and Jumbo Zones with a view to
expanding the Gold Springs resource and announcing an updated
resource estimate in Q1 of 2014. An additional area, yet to be
chosen from among the remaining 16 outcropping gold targets, may
also be drilled with the intent of developing a third resource area
on the Gold Springs property. The drill program, which commenced in
mid-April, is expected to result in a steady flow of news
throughout the balance of 2013.
ABOUT HIGH DESERT GOLD
The Company is a mineral exploration company that acquires and
explores mineral properties, primarily gold, copper and silver, in
North America. The major properties held by HDG are the Gold
Springs gold project that straddles the Nevada and Utah state
border, and the San Antonio project in Sonora, Mexico. The Company
also has a 26.8%% equity interest in Highvista Gold Inc. which owns
the Canasta Dorada property in Sonora, Mexico.
Certain statements contained herein constitute "forward-looking
statements". Forward-looking statements look into the future and
provide an opinion as to the effect of certain events and trends on
the business. Forward-looking statements may include words such as
"plans", "expects", "continue", "with a view to", "intent" and
similar expressions. These statements include, but are not limited
to, statements regarding the continued advancement of the Gold
Springs property. These forward- looking statements are based on
current expectations and entail various risks and uncertainties.
Actual results may materially differ from expectations, if known
and unknown risks or uncertainties affect our business, or if our
estimates or assumptions prove inaccurate. Factors that could cause
results or events to differ materially from current expectations
expressed or implied by the forward-looking statements, include,
but are not limited to, availability of sufficient financing to
fund planned or further required work in a timely manner and on
acceptable terms; changes in project parameters as plans continue
to be refined and other risks more fully described in the Company's
Management Discussion & Analysis of Financial Position and
Results of Operations, which is available on SEDAR at
www.sedar.com. The material assumptions that were applied in making
the forward looking statements in this release include the
execution of the Company's existing plans and exploration programs
for Gold Springs including the availability of sufficient financing
to fund planned or further required work in a timely manner and on
acceptable terms. Readers are cautioned not to place undue reliance
on the forward-looking statements contained in this press release.
Except as required by law, HDG assumes no obligation to update or
revise any forward-looking statement, whether as a result of new
information, future events or any other reason. Unless otherwise
indicated, forward-looking statements in this release describe the
Company's expectations as of August 22, 2013.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: High Desert Gold Corporation William Filtness Chief
Financial Officer (604) 684-0693 (604) 684-0642 (FAX)