DEL MAR, Calif., Nov. 26, 2013 (GLOBE NEWSWIRE) -- Nevada Gold Corp (OTCQB:NVGC) is pleased to report that the recently announced claim expansion program by staking has been completed at the Diamond Jim Mine project in the Island Mining District north of Elko, Nevada. The size of the property has been expanded by approximately 60% for a total of 53 claims. A surface program of geological mapping and sampling has been completed and preparation and planning to open the underground workings in the next phase of the program is underway.
A graph accompanying this release is available at http://media.globenewswire.com/cache/27842/file/23455.pdf
About Nevada Gold Corp
Nevada Gold Corp (OTCQB:NVGC) is a publicly traded US exploration company focused on precious metals targets in the gold rich area of North Eastern Nevada. To date, Nevada State has produced over 200 million ounces of gold with Nevada accounting for almost 84% of the US annual gold production. Most recently the company has acquired an option to earn a 75 percent interest in the former producing silver/lead and gold mine called the Diamond Jim Mine located in Northern Nevada State.
The Diamond Jim Mine in Elko County consists of 35 claims and is located in northeastern Nevada, 20 miles (32 km) south of the Idaho border, 69 miles (111 km) north of the city of Elko and 260 miles (418 km) northeast of the city of Reno. The property lies on the easterly end of the northeast-trending Midas trend, one of Nevada's several important epithermal gold belts. The Midas trend hosts a number of significant to world-class gold districts such as Midas-Ken Snyder Mine and the Jerritt Canyon Mine (recently produced its 8 millionth ounce of gold). These mines produce mainly from epithermal vein systems favorable for small but profitable high-grade operations and Carlin-type sediment-hosted deposits amenable to large-scale open-pit bulk mining.
Nevada Gold Corp plans to conduct an initial surface exploration program as well as seek a permit to reopen the old mine workings to verify previous exploration results. In addition to the Diamond Jim property the company also has an option on another gold property located in Nevada's Long Canyon Gold Trend.
Company Website: http://www.nvgoldcorp.net
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Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, that the Company will be able to open the underground workings in the next phase of its program, the commencement of or results from any initial surface exploration program, that it will receive the necessary permits to reopen the old mine workings to verify previous exploration results, or that North Eastern Nevada will produce another world class deposit or that we will be a participant in any such discovery, or that past production from the region is any indication of future production.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
