Hemisphere Gold Inc., Executes Letter of Intent for Acquisition of
Angkor Wat Minerals Ltd., and Proudly Appoints Mr. Barry Lucas to the
Board of Directors
Wednesday May 7, 8:40 pm ET
LAS VEGAS, NV--(MARKET WIRE)--May 7, 2008 -- Hemisphere Gold Inc.
("Hemisphere") (Other OTC:HPGI.PK - News), a gold exploration,
property acquisition and mining development company, is pleased to
announce that it has entered into a Letter of Intent (the "LOI") to
acquire all of the issued and outstanding shares of Angkor Wat
Minerals Ltd. ("AWML") (the "Transaction"). Concurrent with the
execution of the LOI, Mr. Barry Lucas, Director and Chairman of AWML
has been appointed to the Board of Hemisphere to work directly with
the Company on the closing of the Transaction and the continued
development of the AWML projects.
AWML is the registered owner of mining tenements in Cambodia which are
the subject of a recent report prepared in compliance with Canadian
standard, National Instrument 43-101, by Behre Dolbear Independent
Consulting Geologists, of Australia. In addition to its tenements in
Cambodia, AWML has identified a number of precious metal opportunities
in the Southeast Asian countries of Laos, Vietnam and Thailand.
President of Hemisphere, Mr. Allen Schwabe, announced on the LOI, "We
are excited to have made this move forward with AWML. We have been in
discussion with the AWML for some time and see this as a very strong
advancement of Hemisphere as a World Class precious and base metals
exploration and development company. We anticipate closing the formal
transaction with AWML as expeditiously as possible and will be
providing detailed information to our shareholders in very short
course. We are also very pleased to welcome Mr. Barry Lucas, of AWML,
to our Board of Directors."
Mr. Barry Lucas is an Australian national from Western Australia, with
over 25 years of experience in the mining industry in Australia,
Africa, South East Asia and many other parts of the world. Mr. Lucas
has been on the Board of Directors of several mining companies in
Australia and is the Group Founding member of Angkor Minerals Inc.,
and Eight Star Mining companies in Cambodia. In the last 10 years, Mr.
Lucas has been actively involved in sourcing for new mineral deposits
throughout Asia and has strong Government relations in Cambodia. Mr.
Lucas brings considerable experience in exploration, feasibility
studies, mining geology and corporate management.
About Angkor Wat Minerals Ltd.
Angkor Minerals Inc is a junior exploration and development
corporation which has successfully accumulated a portfolio of five
highly prospective, heavily mineralized mining tenements in Cambodia.
The Corporations projects are the subject of a recently completed
NI43-101 Report from Behre Dolbear (BDA) Independent International
Consulting Geologists from Australia, and reports from independent
Field Geologist (Nick M Tate) and Independent Metallurgist (Dale
Fanning).
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.
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.
Contact:
Contact:
Hemisphere Gold Inc.
Auctus Communications
(604) 682-7446
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