High Desert Gold Corporation (TSX VENTURE:HDG)(OTCQX:HDGCF) (“HDG” or the “Company”) is pleased to report that it has closed its previously announced private placement of 20,928,394 units of the Company (each a “Unit”) at a price of $0.225 per share for total gross proceeds of $4,708,888 million (the “Private Placement”).

Each Unit consists of one common share of the Company (a “Common Share”) and one-half of a common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder thereof to purchase one Common Share at an exercise price of $0.35 per Common Share for a period of 18 months from the closing of the Private Placement.

In connection with the Private Placement, the Company paid cash fees to Haywood Securities Inc. (the “Agent”) in the amount of $271,790 and issued non-transferable agent warrants (the “Agent’s Warrants”) to the Agent entitling the holders thereof to subscribe for an aggregate of 1,207,955 Common Shares, at a price of $0.35 per Common Share, exercisable until August 22, 2013. Additionally, the Company issued 100,000 further Common Shares and 50,000 further Agent’s Warrants to the Agent as a result of the Private Placement grossing greater than $2 million.

The Company plans to use the net proceeds from the Private Placement to fund exploration of the Company’s properties, for administrative expenses and unallocated working capital. The securities comprising the Units and the Agent Warrants are subject to a statutory hold period that will expire on June 23, 2012.

ABOUT HIGH DESERT GOLD CORPORATION

The Company is a mineral exploration company that acquires and explores mineral properties, primarily gold, copper and silver, in North America. The major properties held by HDG are a 60% interest in the Gold Springs gold project situated along the border between Utah and Nevada and the San Antonio project in Sonora, Mexico. The Company also has a 34.8% interest in the Canasta Dorada property in Sonora, Mexico, through its equity interest in Highvista Gold Inc.

Certain statements in this press release constitute “forward-looking statements”. These forward-looking statements include, but are not limited to, statements regarding the possibility of closing the Private Placement. Forward-looking statements express, as at the date of this press release, the Company’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results. Forward-looking statements are based on certain assumptions, including the key assumptions and parameters on which such estimates are based, involve risks and uncertainties and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, the effect of capital market conditions and other factors on capital availability and the ability to complete any closing up to the maximum offering, or at all. Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Except as required by law, HDG assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.