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4/5/2004 1:57:00 PM ET
Pacific Gold Corp. Announces Financing
TORONTO, Apr 5, 2004 /PRNewswire-FirstCall via COMTEX/ --
Pacific Gold Corp., (OTCBB: PCFG) announced today that it has received an additional financing of $200,000. Proceeds from the financing will be used to implement the Company's business plans for 2004 including:
- Hiring John Rae to become the Company's Director of Alluvial Operations. Mr. Rae's position will oversee all alluvial operations of the Company.
- Nevada Rae Gold, Inc., staking an additional 12 placer mining claims in Lander County, Nevada.
- Nevada Rae Gold, Inc.'s, purchase of land, environmentally tested and approved water wells, and equipment for its Crescent Valley mining project including 13.67 acres of private land less than two miles from the Company's resources
- Nevada Rae Gold, Inc.'s, Plan of Operations to the Bureau of Land Management (BLM), and the Nevada State Division of Environmental Protection
'This is the third placement that PCFG has received in the past 12 months, totaling over $500,000. We expect that our Company valuation will increase once production is achieved and at such time we will be able to raise additional capital at a rate that will allow for the next phase of our business plan and expansion at favorable terms for our shareholders. That being said, we currently continue to seek out additional investors.'stated Mitch Geisler, President Pacific Gold.
About the Company
The Company's business plan includes the acquisition and development of production-ready, or in-production mining operations, concentrating on gold recovery. The Company is interested in alluvial, or placer, operations located in western North America. Nevada Rae Gold, a subsidiary of Pacific Gold Corp., has acquired a gold project known as Crescent Valley, located in north-central Nevada, which contains a large alluvial deposit. Oregon Gold, a subsidiary of Pacific Gold Corp., owns a group of claims known as the Bear Bench, located in south-western Oregon.
This news release includes forward-looking statements that reflect Pacific Gold Corp.'s current expectations about its future results, performance, prospects and opportunities. Pacific Gold Corp. has tried to identify these forward-looking statements by using words and phrases such as 'may', 'will', 'expects', 'anticipates', 'believes', 'intends', 'estimates', 'should', 'typical', 'we are confident'or similar expressions. These forward-looking statements are based on information currently available to Pacific Gold Corp. and are subject to a number of risks, uncertainties and other factors that could cause the Company's actual results, performance, prospects of opportunities in the remainder of 2004 and beyond, to differ materially from those expressed in, or implied by, these forward-looking statements.
SOURCE Pacific Gold Corp.
Additional information is available at the Company's website at www.pacificgoldcorp.com, or by calling 416-214-1483. (PCFG)
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