HDG High Desert Gold Corporation

NOT FOR DISTRIBUTON TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

South American Silver Corp. ("SASC") (TSX:SAC)(OTCQX:SOHAF) and High Desert Gold
Corporation ("HDG") (TSX VENTURE:HDG)(OTCQX:HDGCF)(FRANKFURT:7HD) are pleased to
announce that the Supreme Court of British Columbia issued a final order on
December 19, 2013 approving the previously announced statutory plan of
arrangement under the Business Corporations Act (British Columbia) (the
"Arrangement").


Assuming all other conditions to completion of the Arrangement are satisfied or
waived, it is expected that the Arrangement will become effective following the
closing of markets on December 20, 2013.


The Toronto Stock Exchange has conditionally approved the Arrangement including
the listing of the Class B Shares to be issued thereunder, with the new common
shares and Class B Shares of South American Silver Corp. anticipated to commence
trading on the TSX on Tuesday, December 24, 2013. Until then the common shares
of SASC and HDG will continue to trade on the TSX and TSX Venture Exchange,
respectively. 


For further details about the Arrangement, please see SASC's management
information circular dated November 7, 2013 and the SASC press release dated
October 21, 2013, or HDG's management information circular dated November 7,
2013 and the HDG press release dated October 21, 2013, each of which is
available on SEDAR at www.sedar.com.


About South American Silver Corp.

South American Silver Corp. is a growth focused mineral exploration company
creating value through the exploration and development of the large scale
Escalones copper-gold project in Chile, the pursuit of new opportunities and the
realization of value from the Malku Khota project in Bolivia. The Company's
approach to business combines the team's track record of discovery and
advancement of large projects, key operational and process expertise, and a
focus on community relations and sustainable development. Management has
extensive experience in the global exploration and mining industry. Additional
information related to South American Silver Corp. is available at
www.soamsilver.com and on SEDAR at www.sedar.com.


About High Desert Gold Corporation

High Desert Gold Corporation 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 100% owned 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 26.8% equity interest in
Highvista Gold Inc that owns the Canasta Dorada property in Sonora, Mexico.
There has been insufficient exploration to define a property-wide mineral
resource at Gold Springs and it is uncertain if further exploration will result
in the targets at Gold Springs being delineated as a mineral resource.
Additional information related to High Desert Gold Corporation is available at
www.hdggold.com and on SEDAR at www.sedar.com


Neither the TSX Venture Exchange nor its Regulation Service Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this new release.


Forward-looking Statements

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 "will", "expected", "anticipated", "creating",
"development", "pursuit", "realization" and similar expressions. Information
concerning mineral resource estimates may also be considered forward-looking
statements as such information constitutes a prediction of what mineralization
might be found to be present if and when a mining project is actually developed.
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, remaining conditions of the
Arrangement not being met or waived; the receipt by HDG of a competing or
superior proposal for an alternative transaction; possible variations in mineral
resources, grade, metal prices; availability of further 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; failure of
equipment or processes to operate as anticipated; uncertainties associated with
the arbitration proceeding against Bolivia, including the quantum of damages to
be obtained and the realization or collection of the value of any award or
settlement; regulatory, environmental and other risks of the mining industry
more fully described in HDG's Management Discussion & Analysis of Financial
Position and Results of Operations and SASC's Annual Information Form, which are
available on SEDAR at www.sedar.com. The assumptions made in developing the
forward-looking statements include: satisfaction or waiver of all remaining
conditions required by the Arrangement; the accuracy of current resource
estimates and the interpretation of drill, metallurgical testing and other
exploration results; Nevada and Utah continuing to be pro-mining states; the
availability of equipment and qualified personnel to advance the Gold Springs
and Escalones projects; execution of existing plans and further exploration and
development programs for Gold Springs and Escalones, which may change due to
changes in the views of management or if new information arises which makes it
prudent to change such plans or programs.


Readers are cautioned not to place undue reliance on the forward-looking
statements contained in this news release. Except as required by law, neither
SASC nor HDG assumes any 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 news
release describe the expectations of SASC and HDG as of December 19, 2013. 


This is not an offer of securities for sale in the United States, and such
securities may not be offered or sold in the United States absent registration
or an exemption from registration. Any public offering of securities to be made
in the United States will be made by means of a prospectus that may be obtained
from SASC and will contain detailed information about the company and
management, as well as financial statements. SASC does not intend to register
any part of the present or proposed offering of securities in the United States.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Ralph Fitch
President & CEO
303.584.0608


Richard Doran
Investor Relations
303.584.0608

High Desert Gold Corporation (TSXV:HDG)
Historical Stock Chart
From Jun 2024 to Jul 2024

High Desert Gold Corporation (TSXV:HDG)
Historical Stock Chart
From Jul 2023 to Jul 2024