Hemisphere Gold Inc (fka HPGI)

[alien_scones]

News


April 10, 2007 - 6:30 AM EDT




Hemisphere Gold Receives Preliminary Data on Aeromagnetic and Radiometric Survey
Hemisphere Gold Inc. (Pink Sheets:HPGI), a gold exploration, property acquisition and mining development company, is pleased to announce the airborne geophysical survey contracted to Terraquest has been recently completed and initial images received.

The survey consisted of magnetic and radiometric readings that are processed to highlight features that relate to geology and structure that can be related to controls on gold mineralization. The data are of excellent quality and highlight details that will be integrated into the field program and data interpretation to assist in targeting gold mineralization. The geophysical survey data are not a direction indication of gold mineralization but define rock units, intrusive rocks, structures (faults), and alteration (potassium or magnetite destruction) that may be related to gold mineralization.

An initial review indicates structural trends and intrusive related rock units that can be related to the sources of the extensive alluvial mining in the region. In addition, processed video images can pinpoint areas of small scale mining that are of interest and the elevation data provide the basis for a DEM topographic map. Remote surveys, like this airborne survey, are essential exploration tools in this deeply weathered environment with poor exposures of rock. The data are being interpreted by Company geologists and will also have 3-D processing using geophysical programs to further highlight targets that relate to gold deposits.

The average price of gold in 2007 is set to break records because of interest from investors amid geopolitical uncertainty, the precious metals consultancy GFMS said last week.

“It’s looking pretty certain that the record in terms of the annual average, $614.50 back in 1980, is going to fall this year,” GFMS Chairman Philip Klapwijk said as the independent research group published its annual Gold Survey. Since the start of 2007 gold has traded at an average of $650 an ounce.

Investors are piling into gold amid geopolitical concerns, since the yellow metal is seen as a safe store of value in times of high inflation and political tensions.

About the Company

Hemisphere Gold Inc. is in the business of exploration and acquisition of gold properties in some of the world's best gold districts. The Company’s objective is to take advantage of high-yielding untapped mineral producing properties through exploration and acquisition. The Company’s flagship property is in Suriname, a democratic country which has had mining operations since the 1700’s. Suriname is an emerging major gold producer with international companies showing interest. Hemisphere is committed to maintaining environmental stewardship, occupational safety and corporate responsibility.

For more information, please visit http://www.hemispheregold.com/

This press release may contain forward-looking statements which are pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that actual results may differ materially and all forward-looking statements involve risks and uncertainties including, without limitation, risks associated with the Company's financial condition and prospects, risks associated with mining exploration, risks of governmental legislation and regulation, risks associated with technological changes, risks associated with dependence on third parties, risks relating to international operations, delays in testing and evaluation of products and risks associated with competition.

Hemisphere Gold Inc.
Barry Reagh, 888-548-8444



Source: Business Wire (April 10, 2007 - 6:30 AM EDT)

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