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Reno Gold Corp. Announces Joint Venture With Consolidated Global Minerals Ltd. And Dynamic Resources Corp.

Posted on: Thursday, 14 December 2006, 09:00 CST

Reno Gold Corp. (PINKSHEETS: RNGG) (the "Company") Vaughan, Ontario, announced today that it has recently entered into an Option to Purchase, Joint Venture and Royalty Agreement (the "Option Agreement") with Dynamic Resources Corp. ("Dynamic Resources") of Alberta, Canada and Consolidated Global Minerals Ltd. ("Consolidated Global") of Vancouver, B.C. in respect to the Good Hope gold exploration property located in Nevada, U.S.A. The Option Agreement entitles Reno Gold Corp. to acquire a 60% interest in the property. Consolidated Global will remain as operator of the property until such time as the Corporation has earned its interest and a formal joint venture has been formed.

Consolidated Global is the registered owner of the 107 claims which make up the Good Hope property. The claims are owned outright by Consolidated Global. There are no underlying royalty interests or other such obligation on the presently held claims, nor are there any back-in rights applicable to any of the claims.

Consolidated Global received a National Instrument 43-101 Standards of Disclosure for Mineral Projects report on this property in December 2003 which may be viewed at www.sedar.com.

This property covers an area of 2056 acres, and consists of 107 unpatented lode mining claims. The Good Hope property is accessed from Elko by traveling north on paved State Highway 225. Travel time from Elko is about two hours. The Good Hope Property area is situated within a zone of world class gold endowment where the potential of finding a large, high-grade gold mine are favourable. Past work has defined large ( > 1000x5000 ft) areas of strongly argillized volcanics which host numerous silicified breccia zones, and it is believed that the proposed exploration program offers an excellent opportunity to discover new Carlin-type mineralization beneath shallow volcanic cover on the property. The Phase I program focused on defining the dominant mineralizing feeder structures with strong AU-AS geochemical footprints, delineating the major sedimentary basement blocks and basement highs, and targeting Carlin-type mineralization at a reasonable depth for underground mining. The expenditures on the Good Hope Property are estimated to be $600,000 USD to the end of December 31st 2007. Details of Phase 2 of the project will be reported in the near future.

About Reno Gold Corp:

The Company was formed as a precious metals mining, exploration and Development Company in June of 2004.

This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.

 Contact: LC Group Rick Lutz (404) 261-1196  Reno Gold Corp. Investor Relations (416) 960-4144  

SOURCE: Reno Gold Corporation

Source: MARKET WIRE

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