HIF Hidefield Gld

 
TIDMHIF 
 
Hidefield Gold plc 
       Sale of Interest in South Estelle Gold project, Alaska 
                       Director's Shareholding 
Hidefield Gold plc ("Hidefield" or  the "Company"), the gold  company 
with advanced projects in Argentina, Brazil and Alaska, including the 
Don Nicolas gold project in Santa Cruz Province, Argentina, announces 
that it has  agreed to sell  its interest in  the South Estelle  gold 
project in Alaska (the "Estelle Project") to Millrock Resources  Inc. 
(MRO - TSX:V) ("Millrock")  as part of an  agreement for Millrock  to 
acquire a 100  per cent.  interest in  the Estelle  Project from  the 
Hidefield and Mines Trust Co. ("Mines Trust") joint venture known  as 
the "Golden Zone joint venture". 
 
This agreement  supersedes  a  prior  option  agreement  between  the 
Millrock and  the  Golden  Zone  joint  venture  companies  by  which 
Millrock was entitled  to earn an  eighty per cent.  interest in  the 
Estelle Project through a combination of cash payments and by funding 
exploration activities on the property. 
 
The parties  to  the agreement  plan  to execute  a  formal  purchase 
agreement by 17 February  2009 while completion  of the sale  remains 
subject to Millrock  securing TSX  Venture Exchange  approval to  the 
transaction. 
 
The consideration for the sale of Hidefield's interest in the Estelle 
Project includes a cash payment of US$100,000, the issue to Hidefield 
of one million Millrock common shares  and the granting of a one  per 
cent. Net Smelter  Royalty ("NSR")  over future  production from  the 
Estelle Project. 
 
Director's Shareholding 
 
Mr. Kenneth Judge,  Chairman of Hidefield,  has informed the  Company 
that Hamilton Capital Partners  Limited ("Hamilton"), a company  with 
which Mr.  Judge  is associated,  has  deposited by  way  of  certain 
security arrangements related to  borrowings by Hamilton,  16,961,675 
ordinary shares  representing  5.49 per  cent.  of the  issued  share 
capital of the Company.  In total Hamilton holds 21,961,675  ordinary 
shares in Hidefield. 
 
ABOUT HIDEFIELD 
 
Hidefield is  a gold  company with  a focus  on the  acquisition  and 
development  of  highly  prospective  projects  in  North  and  South 
America.  The Company has a diverse portfolio of projects.  In  South 
America and Alaska the projects are directly held by Hidefield, while 
those projects in Canada, Nevada and Arizona are held in independent, 
self-funded associate companies. 
 
Hidefield's substantial direct gold project interests are principally 
in Argentina where  the Company  is actively  exploring the  advanced 
stage Don Nicol�s gold project in Santa Cruz Province with a  mineral 
resource  estimate,  prepared  in  compliance  with  JORC   reporting 
standards, of 1,214,000  tonnes at  7.7 gpt  gold containing  301,600 
ounces of gold using a high grade cut of 90 gpt gold (383,400  ounces 
of gold at 9.8 gpt without high grade cut off). 
 
The Company is exploring an  extensive portfolio of gold  exploration 
licences in  the  Patagonian  provinces of  Santa  Cruz  and  Chubut, 
Argentina while in Brazil the Company's activities are focused on the 
evaluation of the  advanced stage  Cata Preta gold  project near  the 
historic city of Ouro Preto in the productive Quadrilatero  Ferrifero 
region of Minas Gerais state. 
 
In Alaska, Hidefield has a 60  per cent. interest in the Golden  Zone 
joint venture  which  includes  the Golden  Zone  and  South  Estelle 
mineral projects and an option to earn up to 100 per cent.  interest, 
subject to a 2.5 per  cent. NSR, by making  a series of staged  cash, 
share and property expenditures.  The Golden Zone property is located 
240 km  north of  Anchorage  and contains  a measured  and  indicated 
resource of approximately 253,000 ounces of gold, 1,180,000 ounces of 
silver and 6,114,000 pounds of  copper.  The South Estelle  property, 
now in joint venture,  is located approximately  175 km northwest  of 
Anchorage and 230 km southwest of the Golden Zone project and adjoins 
Kennecott's Whistler copper-gold property. 
 
For more information on Hidefield go to www.hidefieldgold.com 
 
For further information on this release, please contact: 
 
 
Hidefield Gold Plc 
Ken Judge, Chairman              + 44 773 300 1002 
Investor Relations 
Jon Bey: North America           + 1 800 689 2599 
                                 + 1 604 689 2599 
 
Hanson Westhouse Limited (Nomad) 
Tim Feather / Matthew Johnson    + 44 113 246 2610 
 
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This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement. 
 

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