VANCOUVER, BRITISH COLUMBIA--(Marketwire -03/30/12)- High Desert Gold Corporation ("HDG" or the "Company") (TSX-V: HDG.V - News)(OTCQX: HDGCF.PK - News) is pleased to announce that it has renewed its agreements with Michael Baybak and Company, Inc. (the "U.S. Consultant") and Atlantic Perspectives Inc. (the "Canadian Consultant", collectively with the U.S Consultant, the "Consultants"), each of which provide institutional investor relations services and retail investor market development services to HDG.
The Consultants' duties include: assisting management, as requested, to disseminate the Company's news releases to specifically targeted institutional investors and equity managers, as well as to categories of retail investors, with follow-up and response devices; introducing the Company to resource-oriented institutional, money management and retail brokerage investor communities, also including key resource advisory newsletter editors, through programmed contacts, mailings, and management meetings for purposes of building broader market followings for the Company; and/or assisting management in developing support for occasional financings planned by the Company. The actions of the Consultants are subject to the control and direction of the board of directors of the Company.
The term of each Consultant's engagement is a period of one year, with the Company having the right to cancel it after the first six months or to renew or extend the engagement on mutually satisfactory terms thereafter. Each Consultant is paid a fee of $5,000 per month for its services ($60,000 over the full term of each engagement) plus any direct expenses of the Consultant's services to HDG. Each Consultant was also granted 100,000 options under the Company's stock options plan each having a term of two years and an exercise price of $0.29 per share. The Consultant's options vest in stages over 12 months with 1/4 of the options vesting on each three month anniversary from the date of grant.
The Company also announces the grant of new incentive stock options to acquire an additional 1,260,000 common shares of the Company to certain directors, senior officers and employees of the Company and its subsidiaries having a term of five years and an exercise price of $0.29 per share. The 300,000 options granted to non-management directors vested immediately. The 960,000 options granted to officers and employees vest as to one-third immediately and to one-third on the first and second anniversary of the date of grant. All options are otherwise subject to the terms of the Company's stock option plan.
ABOUT HIGH DESERT GOLD CORPORATION
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 a 60% interest in the Gold Springs gold project situated along the border between Utah and Nevada and the San Antonio project in Sonora, Mexico. The Company also has a 34.8% interest in the Canasta Dorada property in Sonora, Mexico, through its equity interest in Highvista Gold Inc.
ABOUT MICHAEL BAYBAK AND COMPANY, INC.
The U.S. Consultant is based in Clearwater, Florida, and provides institutional investor relations services and retail investor market development services to emerging resource companies, primarily through Michael Baybak, the Consultant's sole shareholder. The U.S. Consultant is arms-length to the Company and, does not have any interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest, other than the 100,000 options disclosed above.
ABOUT ATLANTIC PERSPECTIVES INC.
The Canadian Consultant is a boutique Capital Markets Marketing and Investor Relations firm based in Toronto, Ontario specializing in the facilitation of effective interfacing between Corporate Management and leading Wealth Advisors, Investment Bankers, High Net Worth Investors and Analysts. Gary Anstey, the principal of Atlantic Perspectives Inc. has over 15 years experience as a consultant to companies in resource-based sectors in the areas of Corporate Development, Investor Relations, and Government Relations. The Canadian Consultant is arms-length to the Company and, does not have any interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest, other than the 100,000 options disclosed above.
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.
High Desert Gold Corporation
Executive Vice President
(303) 758-2063 (FAX)