Pacific Gold Corp (PCFG)

Description:

Pacific Gold Corp., was originally incorporated in Nevada on December 31, 1996 under the name of Demand Financial International, Ltd. On October 3, 2002, Demand Financial International, Ltd. changed its name to Blue Fish Entertainment, Inc. On August 5, 2003, the name was changed to Pacific Gold Corp. The Company is engaged in the identification, acquisition, exploration and development of mining prospects such as gold and/or tungsten mineralizations. It currently owns mining claims, property and leases in Nevada and Colorado. Pacific Gold Corp. has four subsidiaries through which it holds various mineral prospects in Nevada and Colorado. Three subsidiaries are wholly-owned and include; Nevada Rae Gold, Inc., Fernley Gold, Inc., and Pilot Mountain Resources Inc. The fourth subsidiary, of which Pacific Gold Corp. controls an interest of 75.6% is Pacific Metals Corp. The prospects held by Nevada Rae Gold ("NRG") are located among the Crescent Valley placer deposits, in the bullion mining district of Lander County, Nevada. They are about two miles from the town of Crescent Valley, and some 50 miles west of Elko, Nevada. The area is about 175 miles northeast of Reno, Nevada. Fernley Gold, Inc. entered into a lease agreement in 2004 for the right to mine the property and claims known as Butcher Boy and Teddy. The property and claims are located 34 miles east of Reno, Nevada, just off highway I-80. The area known for placer gold mineral deposits, and commonly referred to as the Olinghouse Placers, has a rich mining history. The lease includes two water wells and water rights. The Company is required to make monthly lease payments to the property owner and annual BLM fees in order to keep the project in good standing. In August 2005, Pacific Gold Corp. established Pilot Mountain Resources Inc. which then acquired Project W. Project W is primarily a tungsten project located in Mineral County, Nevada. The Company owns 24 unpatented lode mining claims in San Juan and Dolores Counties, Colorado immediately southeast of Bolam Pass. The exploration and development of a mining prospect is subject to regulation by a number of federal and state government authorities. It competes with many mining and exploration companies in identifying and acquiring claims with gold mineral deposit.