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12/11/2006 3:49:39 PM ET
PCFG Corporate Update
TORONTO, Dec 11, 2006 /PRNewswire-FirstCall via COMTEX News Network/ --
Pacific Gold Corp., (OTCBB: PCFG).
Nevada Rae Gold ---------------
The Company announced today that it has received Delivery of the fourth and fifth Komatsu 785-3 haul trucks. The Company is currently working with Komatsu to put the trucks into service as quickly as possible. Each Komatsu 785-3 allows for 70 yards of gravels to be hauled in a single load vs. 25 yards per load with the previously operated CAT D400 trucks. The new trucks are also better suited for the conditions of the haul from the pit to the main mill site. The Company has sold its fleet of CAT D400's.
Nevada Rae has also completed the installation of a new trommel screen into the circuit of the main screening plant. This work took about 1 month to complete and is expected allow for a better washing of the gravels from the main pit which the Company hopes will improve gold recovery.
In October, the Company completed a seismic survey of the main pit which showed a much larger potential zone of gold bearing materials. These additional areas are of a material, which has been labeled as a "mud flow", not previously identified in past geologist reports. Currently the Company is testing these new areas to determine the gold grades. The potential exists that the entire deposit size is much larger than previously thought and the Company is making plant modifications to deal with this opportunity if available.
Pilot Mountain Resources ------------------------
The Company is currently analyzing recent test results on possible gravity recovery methods for the deposit and plans to begin additional work at Project W in 2007.
Additionally the claims for Project W have now been transferred into the name of the Company.
Pacific Gold Corp. ------------------
Recently, the Company CEO, Rob Landau, has sold shares of PCFG under his Rule 144 allotment. These sales have been completed. The sales were made for personal financial reasons that are unrelated to PCFG. Mr. Landau is paid in shares of PCFG in lieu of a cash salary and his compensation is directly tied to the performance of PCFG stock. Mr. Landau remains firmly committed to PCFG and plans to work diligently for a successful future for the Company.
To find out more information about Pacific Gold Corp. (OTCBB: PCFG), please visit our Company's website at www.pacificgoldcorp.com, or contact Investor Relations directly at 416-214-1483.
About the Company
The Company's business plan provides for the acquisition and development of production-ready and in-production mining operations. The Company is currently focused on alluvial gold and base metals operations located in western North America. Pacific Gold Corp. owns five operating subsidiaries: Nevada Rae Gold, Inc. ("Nevada Rae") owns and operates the Black Rock Canyon gold mine, located in north-central Nevada; Pilot Mountain Resources Inc. ("Pilot Mountain") owns Project W, a large tungsten based deposit in Nevada; Fernley Gold, Inc. ("Fernley Gold") acquired exclusive lease rights to mine the Lower Olinghouse Placers in north-western Nevada; Oregon Gold, Inc. ("Oregon Gold") owns the Bear Bench claims and Defiance mine, located in south-western Oregon; and Pacific Metals Corp. ("Pacific Metals") owns claims in San Juan and Delores Counties, Colorado, encompassing the historic Graysill Mine.
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 2006 and beyond, to differ materially from those expressed in, or implied by, these forward-looking statements.
SOURCE Pacific Gold Corp.
please visit our Company's website at www.pacificgoldcorp.com, or contact Investor Relations directly at (416) 214-1483