Latest News ReleaseHigh Desert Gold Corporation Files Fiscal 2008 Annual Financial Statements
- Thursday March 26, 2009, 7:48 pm EDT
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Mar 26, 2009 -- High Desert Gold Corporation ("HDG" or the "Company") (Toronto:HDG.TO - News)(Toronto:HDG-WT.TO - News) reports that it has released its auditedfinancial statements for the year ended December 31, 2008and the related management's discussion and analysis offinancial position and results of operations ("MD&A").
The Company experienced a significant reduction in workingcapital following the completion of its substantial issuerbid (Press Release 09-01 dated January 8, 2009). After adjustingfor the share buy-back of 33,862,870 shares in January 2009,the Company had working capital of approximately US$1.7million. There are currently 7,190,464 shares issued andoutstanding.
The plan for 2009 is to focus on its gold properties andto joint venture its copper properties. A drill programis envisaged to extend the known mineralization at CanastaDorada and a surface program will be completed at ArtilleryPeak. Joint venture agreements will be considered for allproperties if terms are favourable.
The Toronto Stock Exchange has announced that it is reviewingthe common shares and warrants of HDG with respect to meetingthe continued listing requirements. The Company has beengranted 210 days in which to regain compliance with thoserequirements, pursuant to the remedial review process. TheCompany is considering its options.
Copies of the audited financial statements and related MD&Acan be found on SEDAR at www.sedar.com.
Certain statements contained herein constitute "forward-lookingstatements". These forward-looking statements are basedon current expectations and entail various risks and uncertainties.The nature, timing and extent of the exploration programsmay materially change from current intentions for a numberof reasons. Additionally, "forward looking statements" lookinto the future and provide an opinion as to the effectof certain events and trends on the business. Subject toapplicable laws, the Company assumes no obligation to updateor revise any forward-looking statement, whether as a resultof new information, future events or any other reason.
HDG is a mineral exploration company that acquires and exploresmineral properties, primarily gold, copper and silver, inNorth America. The two major properties held by the Companyare the Canasta Dorada gold property in Sonora, Mexico,and the Gold Lake porphyry copper-gold-molybdenum propertyin New Mexico.