Pacific Gold Corp.-Corporate Update
TORONTO, ONTARIO, May 17, 2012 (Menafn - MARKETWIRE via COMTEX) --Pacific Gold Corp. (otcqb:PCFG)(pinksheets:PCFG).
The Company's subsidiary Nevada Rae Gold, Inc. has hired a newOperations Manager to manage the daily operations at the Black RockCanyon Mine. The new manager began work at the mine on May 8th. TheOperations Manager has been employed by the Company since 2011,responsible for permitting and environmental requirements at themine, and will now add the Operations Manager role to his duties.
The new Operations Manager has begun implementing recommendationsfrom the previously announced engineering consulting firm onimproving the mine plant water flow to provide more clean water tothe plant equipment. The Company anticipates that theserecommendations will improve operating hours of the plant andincrease plant efficiency and gold recovery.
Additionally, the Company announced that it has raised 720,000 inconvertible promissory notes. Details of the financing are availablein the Company's 8-K filing. The previously announced 500,000convertible note, from the December 2, 2011 8-K filing, has beenfully converted by the note holder into common shares.
To find out more about Pacific Gold Corp. (otcqb:PCFG), visit theCompany's website at www.pacificgoldcorp.com.
About the Company
Pacific Gold Corp.'s business plan provides for the acquisition anddevelopment of production-ready and in-production mining operations.The company is focused on alluvial gold and base metals operationslocated in western North America. Pacific Gold Corp. owns fouroperating subsidiaries: Nevada Rae Gold, Inc., which owns andoperates the Black Rock Canyon gold mine, located in north-centralNevada; Pilot Mountain Resources Inc., which owns Project W, a largetungsten based deposit in Nevada; Fernley Gold, Inc., which hasacquired exclusive lease rights to mine the Lower Olinghouse Placersin north-western Nevada; and Pacific Metals Corp., which owns claimsin San Juan and Delores Counties, Colorado, encompassing the historicGraysill Mine.
This news release includes forward-looking statements that reflectPacific Gold Corp.'s current expectations about its future results,performance, prospects and opportunities. Pacific Gold Corp. hastried to identify these forward-looking statements by using words andphrases such as "may", "will", "expects", "anticipates", "believes","intends", "estimates", "should", "typical", "we are confident" orsimilar expressions. These forward- looking statements are based oninformation currently available to Pacific Gold Corp. and are subjectto a number of risks, uncertainties and other factors that couldcause the Company's actual results, performance, prospects ofopportunities in the remainder of 2012 and beyond, to differmaterially from those expressed in, or implied by, theseforward-looking statements.
Pacific Gold Corp.
SOURCE: Pacific Gold Corp.
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