Mr. Gordon Leask reports

HIGHWAY 50 ANNOUNCES LARGE-SCALE GOLD DISCOVERY AT GOLD KNOB PROJECT, NEVADA

Highway 50 Gold Corp. has discovered an extensive zone of gold mineralization at its 100-per-cent-owned Gold Knob gold project in north-central Nevada.

Discovery hole GK-26-9A intersected 51.82 metres (170 feet) grading 0.60 gram per tonne gold, including higher-grade intervals of 1.02 g/t Au over 4.6 metres and 2.74 g/t Au over 4.6 metres. The continuous mineralized zone begins at a depth of 128 metres.

The result represents a substantial increase in mineralized thickness compared with historic hole BV-3, located 152 metres to the north, which intersected 12.2 metres grading 0.73 g/t Au. The increase in thickness between the two holes suggests the system may be broadening to the south although additional drilling is required to determine true thickness and continuity.

Highlights:

• GK-26-9A: 51.82 m grading 0.60 g/t Au from 130.0 m to 181.2 m:
  • Including 1.02 g/t Au over 4.6 m from 161.5 m to 166.1 m;
  • Including 2.74 g/t Au over 4.6 m from 144.6 m to 149.2 m;
• Mineralized thickness increased substantially from historic hole BV-3, 152 m to the north, which intersected 12.2 m grading 0.73 g/t Au;
• Follow-up drilling approximately 1.15 kilometres southeast of GK-26-9A encountered a second zone displaying similar geological characteristics, with assays pending.
• Highway 50 has staked an additional 205 claims surrounding the discovery area, and drilling is continuing.

Drill hole GK-26-9A was drilled at a minus-60-degree dip to the north (360 degrees azimuth), with co-ordinates of 428158E and 4470044N (NAD 83).

Gordon Leask, president and chief executive officer of Highway 50, commented: "New discoveries are extremely rare in mature exploration terranes. This discovery is a direct result of management's efforts in generating a novel understanding of the deep crustal architecture responsible for the emplacement of the major gold districts of north-central Nevada."

Gold Knob exploration update

Highway 50's phase 1 drill program is designed to offset known gold mineralization and test the company's interpretation that a major gold system exists at depth.

Follow-up hole GK-26-18 was drilled approximately 1.15 km southeast of GK-26-9A to test a broad conductive anomaly identified by magnetotelluric geophysics. GK-26-18 was drilled at a minus-60-degree dip to the north (360-degree azimuth), with co-ordinates of 428952E 4469084N (NAD 83). The hole intersected a 13.7-metre interval from 455 m to 469 m, displaying geological characteristics similar to those observed in GK-26-9A, beginning at an approximately 451-metre depth. Assays are pending.

GK-26-18 is also approximately 600 metres north of the Wildhorse area, where low-grade gold mineralization has previously been identified over an area of approximately one square kilometre.

Mineralization encountered to date is characterized by intense silicification, bladed calcite replacement, banded and coxcomb silica, and locally elevated sulphide content. Geochemistry includes elevated arsenic, antimony, mercury and silver.

The mineralized system appears to be associated with an east-west structural zone intersecting a major north-northwest structural corridor. Historic surface sampling at Gold Knob, immediately north of this structural zone, has returned locally high gold values of up to approximately 100 g/t Au.

The combination of broad mineralization in GK-26-9A, increasing mineralized thickness from historic drilling, similar geology encountered 1.15 km away, widespread surface gold anomalism, and supporting structural and geophysical evidence provides the company with a compelling target for continued drilling.

Qualified person

The scientific and technical disclosure in this news release has been approved by Mr. Leask, PEng, president and chief executive officer of the company, and a qualified person as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

About Highway 50 Gold Corp.

Highway 50 is a mineral exploration stage company led by a team of experienced explorers and mine finders. The company is executing an exploration plan refined over 35 years of experience in Nevada. The exploration focus on its projects is a result of what management believes to be breakthroughs in the understanding of north-central Nevada's crustal architecture.

Quality assurance/quality control procedures

Samples are submitted to American Assay Laboratories of Sparks, Nev., which is a certified and accredited laboratory, independent of the company. Samples are prepared using industry standard prep methods and analyzed using FA-PB30-ICP (gold, 30-gram fire assay) method. AAL also undertakes its own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. Highway 50's QA/QC program includes regular insertion of CRM standards, duplicates and blanks into the sample stream with a stringent review of all results completed by the company's qualified person, Mr. Leask, chief executive officer and president.

We seek Safe Harbor.