Independent
analysis and research, conducted by Bharti Engineers and Robertson Research,
estimate these claims collectively contain up to 500 ,000 ounces of gold in
proven, probable, and inferred resource categories. and
will pay advisory fees in connection with the transaction.

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The Company is focused on alluvial, or placer, operations located in
North America.com, or by calling 416-214-1483. DENVER, Queenstake Resources Ltd. The Jerritt
Canyon District comprises 119 square miles (308 square kilometers) of
geologically prospective ground and represents one of the largest contiguous
exploration properties in Nevada. There can
be no assurance that forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements.

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Fernley Gold, Inc .

This news release includes forward-looking statements that reflect
Pacific Gold Corp . In addition, another affiliate of Newmont will sell
concentrates and ore from its Nevada operations to Queenstake for processing
at its Jerritt Canyon roasting and milling facility in Northeastern Nevada.

* Baxter -- Located on the north end of the Carlin Trend, about 25 miles
southwest of the Jerritt Canyon property boundary, six miles northwest
of Barrick's Meikle Mine and about a mile from Hecla Mining's Hollister
project.

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The private placement , which remains subject to certain closing
conditions, including regulatory approvals, is expected to close within about
four weeks. Such forward-looking statements
include, without limitation , (i) estimates and projections of future gold
production, processing rates and cash operating costs , (ii) estimates of
savings or cost reductions and (iii) estimates related to financial
performance , including cash flow.sedar.

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Nevada Rae Gold owns and leases mining claims on approximately 920 acres
near Crescent Valley, Nevada, known as the Black Rock Canyon Mine., a wholly-owned
subsidiary , owns the Defiance Mine, located in Josephine County, Oregon. This
contract is expected to lower the Company's cash operating costs by
approximately $15-$20 per ounce for production from Jerritt Canyon by reducing
the fixed costs per ounce.
Current production at the property is from underground mines.

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, owns a group of claims known as the Bear Bench, located in
south-western Oregon.

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, a wholly -owned subsidiary, has a
lease agreement on a group of claims known as the Butcher Boy and Teddy
Claims , located in western Nevada.
Additional information is available at the Company's website at
http: //www.pacificgoldcorp.
The contract calls for the purchase of at least 500,000 tons per year over two
years. Its principal asset is the wholly owned Jerritt Canyon
mining operations and district in Nevada.

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5% of
Queenstake's fully diluted outstanding common shares. Ore purchases with Newmont may continue for up to three more years if
Queenstake has the spare processing capacity.
Limited historical drilling has not fully tested these targets and
there is also potential to generate additional targets.5 million tons (1. Queenstake had
previously projected a steady state mining and processing rate of
approximately 0.
After a contractual six-month holding period, the shares held by Newmont may
be freely traded in Canada.

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Pacific Gold Corp. Subsidiary Nevada Rae Gold Receives Air Quality Permit

With this final permit approval, Nevada Rae Gold is now in receipt of all
required permits including: Water Pollution Control, Reclamation, Land Use,
and Plan of Operations (pending posting of a surety bond). After closing, Newmont will own
approximately 4. For a period of two
years from closing, Newmont will have the right to participate in future
equity offerings by Queenstake to preserve its fully diluted shareholding
percentage and will have certain additional rights to participate in debt
financings. is a gold mining and exploration company based
in Denver, Colorado. Accordingly, readers should not place undue
reliance on forward-looking statements.

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Queenstake Announces $10 Million Private Placement From Newmont

7 million in cash if exercised .

* South Carlin -- Located on the Carlin Trend, between Newmont's Rain and
Gold Quarry mines.

Queenstake Resources Ltd.

For further information call:
Wendy Yang 303-297-1557 ext. Although the
Company has attempted to identify important factors that could cause actual
actions, events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause actions,
events or results not to be as anticipated , estimated or intended.

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The permit allows
mining and milling activity at the Company's Black Rock Canyon Mine,
incorporating equipment proposed to be utilized at the mine site., has
acquired a gold project known as Black Rock Canyon, located in north-central
Nevada, which contains a large alluvial deposit. Pacific Gold Corp. and are subject to a number of risks, uncertainties and other
factors that could cause the Company's actual results, performance, prospects
of opportunities in the remainder of 2005 and beyond, to differ materially
from those expressed in, or implied by, these forward-looking statements.

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51 million Queenstake
common shares at Cdn$0.
An affiliate of Newmont will also convey three of its Nevada exploration
properties, including the Shwin Ranch project along the Cortez-Battle Mountain
Trend, to Queenstake."
The locations of the three Nevada early stage exploration properties with
respect to Jerritt Canyon are shown on the map in the Appendix (please refer
to http://www.

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Once this has been completed, the Black Rock Canyon
Mine will be considered fully permitted by all levels of government,
including: Lander County, NDEP (state), and the BLM (federal). Oregon Gold, a subsidiary of
Pacific Gold Corp.

The properties are subject to a sliding scale net smelter royalty,
dependent on the gold price, of 3% to a maximum of 5% if gold is at or above
$500 per ounce, with Newmont retaining the right to back into a 51% joint
venture interest in each of the properties.
The purchase of Newmont's concentrates and ore for processing of at least
500,000 tons per year over two years will increase the Jerritt Canyon mill
throughput to approximately 95% of its past demonstrated capacity of
approximately 1. It also will allow blending of Jerritt Canyon ore
for improved efficiency. All
statements, other than statements of historical fact, included in this
release, and Queenstake's future plans are forward -looking statements that
involve various risks and uncertainties.

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55 for a four-year period, which would generate
Cdn$15. If Newmont were to
exercise all of its warrants and maintain its holdings of Queenstake's basic
outstanding common shares, Newmont would hold approximately 8. (Dusty) Nicol , President and Chief Executive Officer of
Queenstake, said, "We are leveraging the value of our Jerritt Canyon assets
through this multi-faceted strategic transaction with Newmont. Some drilling has been done on the property, but there
are several recognized targets that remain undrilled together with the
potential to generate additional targets. Past drilling has only partially tested potential
sediment-hosted Carlin type gold targets.com) and Annual
Report on Form 40-F on file with the Securities and Exchange Commission (SEC;
http://www.

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TORONTO, March 14 - Pacific Gold Corp.
Dorian L.

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As part of the private placement, Newmont will receive warrants that can
be exercised to acquire up to 28. This deal
delivers four significant value enhancers for our shareholders -- processing
and production optimization, exploration acceleration, financial flexibility
and portfolio diversification. A brief description of each property
follows:

* Shwin Ranch -- Located on the Cortez Trend.sec.

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Nevada Rae Gold has been granted a Class II Air Quality Operating Permit
from the Nevada Division of Environmental Protection (NDEP). Nevada Rae Gold, a subsidiary of Pacific Gold Corp.

(Amex: QEE; TSX: QRL) has entered into an agreement with Newmont Canada
Limited (Newmont) whereby Newmont will purchase 28.51 million common shares of Queenstake at a
price of Cdn$0. The property has potential
for sediment-hosted Carlin style gold mineralization as well as skarn
mineralization. The property hosts Carlin style gold targets.

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9 million tons annually under the redevelopment plan.queenstake.com

Cautionary Statement -- This news release contains "Forward-Looking
Statements" within the meaning of applicable Canadian securities regulations
and Section 21E of the United States Securities Exchange Act of 1934 , as
amended and the Private Securities Litigation Reform Act of 1995.

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's current expectations about its future results,
performance, prospects and opportunities. These forward-
looking statements are based on information currently available to Pacific
Gold Corp.41 per share for gross proceeds of US$10 million
through an equity private placement.9% of Queenstake's basic common shares.

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Mitch Geisler, Company President, stated, "We are very excited that the
permit process is now essentially complete, and the Company's focus will now
be on positioning the mine for full production .
Queenstake was advised in this transaction by Blackmont Capital Inc. Jerritt Canyon has produced over
seven million ounces of gold from open pit and underground mines since 1981.

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The next step will be posting the Company's surety bond with the Bureau
of Land Management (BLM). has tried to
identify these forward-looking statements by using words and phrases such as
"may", "will" , "expects", "anticipates", "believes", "intends", "estimates",
"should", "typical", "we are confident " or similar expressions. The Company undertakes no obligation
to publicly update or revise any forward -looking statements, whether as a
result of new information, future events or otherwise.

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, (OTCBB:
PCFG) is pleased to announce that its subsidiary, Nevada Rae Gold, has
received approval of the Air Quality Permit for its Black Rock Canyon Mine,
located in north-central Nevada. The alliance with the world's leading gold
company reflects positively on our exploration and processing expertise and
our prospective, 119-square mile exploration land package.queenstake.com for the map).

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"

About the Company

The Company's business plan includes the acquisition and development of
production-ready, or in-production mining operations, concentrating on gold
recovery.
The securities referenced herein have not been and will not be registered
under the United States Securities Act of 1933 and may not be offered or sold
in the United States, unless an exemption from registration is available. Forward-looking statements are subject to
risks, uncertainties and other factors, including gold and other commodity
price volatility, operational risks, mine development , production and cost
estimate risks and other risks which are described in the Company's most
recent Annual Information Form filed on SEDAR (http://www.gov) as well as the Company's other regulatory filings .

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In essence, all
approved permits and corresponding applications describe the Company's
blueprint for operation and gold production at the Black Rock Canyon Mine. This is a very important day
in the history Pacific Gold Corp. Grants Pass Gold, Inc.4 million tonnes) per year. Proceeds will be used to fund exploration and for other corporate
uses. 105
800-276-6070
Email - http://www .