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News
Highway 50 Gold Commences Drilling at Porter Canyon Project
October 14, 2014
Highway 50 Gold Corp. (“Highway 50” or the “Company”) announces that it is in receipt of drilling permits for its Porter Canyon project located in Lander County, Nevada. A total of 17 drill sites are permitted within the Toiyabe National Forest with an additional five sites being permitted on adjacent Bureau of Land Management tenure. The construction of drill pads and sumps is underway. Drilling is scheduled to commence imminently.
About Porter Canyon
The 100% owned Porter Canyon claims occupy a pediment covered bench to the west of the former operating Quito Mine, a classic Carlin-type deposit. Exploration work to date has discovered Carlin-type mineralization in outcrop and float, and provides the impetus for follow-up drilling. Projected geology from the adjacent rangefront suggests the claims cover an open shallowly plunging, north-westerly trending, breached anticline which is cored by Roberts Mountains Formation and capped at least in part by Upper-plate lithologies. The northern limb of the anticline is fault bounded and shows extensive solution collapse and intermittent mineralized jasperoids over a 1.5 km strike length. The anticline is projected to intersect the western edge of the Quito Lower-plate window approximately 1,200 metres west of the rangefront. Management believes this is an ideal setting to host a large Carlin-type gold deposit.
This news release has been reviewed by Gordon P. Leask, P.Eng., President and CEO of the Company, and a Qualified Person (“QP”) as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).
Stock Options
The Company also announces that incentive stock options have been granted to directors, officers and employees to purchase up to 620,000 common shares at a price of $0.41 per share for a five-year period, pursuant to its Stock Option Plan.
For additional information:
Gordon P. Leask, P.Eng. or John M. Leask, P.Eng.
Tel: 604.681.4462
Email: gord@highway50gold.com or jml@highway50gold.com
About Highway 50 Gold Corp.
Highway 50 Gold Corp. is a mineral exploration stage company led by a team of experienced explorers and deal-makers. The Company is executing an exploration plan refined over 25 years of experience in Nevada. The exploration focus on its projects are a result of what management believes to be proprietary breakthroughs in the understanding of north-central Nevada’s crustal architecture.
Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Factors that could cause actual results to differ martially from those in forward-looking statements include changes in metal prices, changes in the availability of funding, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ martially from those projected in the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf.