High Desert Gold Corporation Files Fiscal 2011 Annual Financial Statements

High Desert Gold Corporation (TSX VENTURE:HDG)(OTCQX:HDGCF) ("HDG" or the
"Company") reports that it has released its audited consolidated financial
statements for the year ended December 31, 2011 and the related management's
discussion and analysis of financial position and results of operations
("MD&A"). 


As at December 31, 2011, the Company had a working capital deficiency of ($0.2)
million, however, during February 2012, the Company received gross proceeds of
$4.7 million from the completion of a private placement financing with the
result that the Company is in a strong financial position to pursue its current
exploration strategy. 


The Company also owns 10.7 million shares of Highvista Gold Inc. ("HVG") (34.2%
equity interest) which currently have a quoted value of $1.7 million. These
shares are subject to a time-released regulatory escrow agreement and a
contractual lock-up undertaking entered into by the Company. 


The focus of the Company's exploration program in 2012 will be the Gold Springs
project where a 6,400 metre drill program has been planned. In addition to the
drill program, the Company will be conducting extensive surface geological,
geochemical and geophysical exploration. The Company plans to update the
existing resource by the end of the year. 


Copies of the audited financial statements and related MD&A can be found on
SEDAR at www.sedar.com.


ABOUT HIGH DESERT GOLD 

The Company is a mineral exploration company that acquires and explores mineral
properties, primarily gold, copper and silver, in North America. The principal
property held by HDG is its 60% interest in the Gold Springs gold project
situated along the border between Utah and Nevada. The Company also has a 34.2%
interest in the Canasta Dorada property in Sonora, Mexico, through its equity
interest in Highvista Gold Inc. There has been insufficient exploration to
define a property-wide mineral resource at Gold Springs and at San Antonio and
it is uncertain if further exploration will result in the targets at these two
projects being delineated as a mineral resource.


Certain statements contained herein constitute "forward-looking statements".
Forward-looking statements look into the future and provide an opinion as to the
effect of certain events and trends on the business. Forward-looking statements
may include words such as "plans", "expects", "should", "will", "believe",
"likely", "intention" and similar expressions. These statements include, but are
not limited to, statements regarding the continued advancement of the Gold
Springs property and the possible sale of HVG shares by the Company. These
forward-looking statements are based on current expectations and entail various
risks and uncertainties. Actual results may materially differ from expectations,
if known and unknown risks or uncertainties affect our business, or if our
estimates or assumptions prove inaccurate. 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;
availability of sufficient financing to fund planned or further required work in
a timely manner and on acceptable terms; changes in project parameters as plans
continue to be refined and other risks more fully described in the Company's
Management Discussion & Analysis of Financial Position and Results of
Operations, which is available on SEDAR at www.sedar.com. 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.