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.
FOR FURTHER INFORMATION PLEASE CONTACT:
High Desert Gold Corporation
Chief Financial Officer
(604) 684-0642 (FAX)