Testing Taking Place in Productive Gold Producing Green Stone Belt in Suriname

Hemisphere Gold Inc., a gold exploration, property acquisition and mining development company, reported today that its surveys of its concession continue on multiple fronts and that initial results should be ready in the very near future.

The surveys and testing are concentrating in specific areas that have been identified through satellite imagery and geologic trends. There is a North-South trend for up to 27 km in strike length on the concession; equal or longer than similar trends over known discoveries.

Satellite imagery also defines two regions in the eastern part of the company’s concessions that have not been examined or sampled. These regions parallel a northeast trending magnetic high, which may represent intrusive related mineralization. Each trend is 8 to 10 km of strike and the surveying is also expected to be conducted within those zones.

Initial stream sediment sampling programs have returned promising results. In a zone extending over an area of eight square kilometers, 23 samples have been returned from 110 to 25,800 ppb gold (0.75 oz/ton), in contrast with a mean background value of 19 ppb. Re-analysis of 15 anomalous stream sediment samples has returned values of silver up to 21.6g, nickel up to 520ppm, copper up to 100ppm, and zinc up to 152ppm.

A Company spokesman for Hemisphere Gold stated, “The initial areas being sampled represent only a small portion of the gold potential on the concession and further exploration will be conducted on other areas of the concession in 2007. We expect to have initial results from the auger, aeromagnetic and radiometric surveys very soon with corresponding announcements.”

The positive factors that supported the gold price last year — a balance of global events, resilient demand and contractions in supply — remained in place this year, World Gold Council MD for investment research and marketing Katharine Pulvermacher said in an interview last week.

Suriname’s parliament continues to work closely with foreign mining companies. Later this year the government will start negotiations with the multinationals BHP-Billiton and Alcoa to strike a multi-million bauxite mining deal. Also negotiations are planned for later this year with gold mining multinational Newmont and Suralco/Alcoa to construct a gold mine in the country.

These developments, along with ongoing oil explorations by state-owned Staatsolie Oil Company in joint venture with international oil companies, are viewed as major opportunities to increase government income significantly during the coming years.

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. The Company’s flagship property is in Suriname, a democratic country which has had mining operations since the 1700′s. Suriname is an emerging major gold producer with international companies showing interest. Hemisphere is committed to maintaining environmental stewardship, occupational safety and corporate responsibility.

For more information, please visit http://www.hemispheregold.com/.

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:

Hemisphere Gold Inc.
Barry Reagh, 888-548-8444 (Investor Relations)

Source: Hemisphere Gold Inc.