Hemisphere Gold Inc. reported unaudited consolidated earnings results for the three months ended November 30, 2008. For the quarter, the company has posted net loss of $38,922 compared to $145,907 for the same period a year ago. Net loss from operations was $36,191 compared to $143,508 for the same period a year ago. Net loss from continuing operations was $38,922 compared to $145,907 for the same period a year ago. Net cash used in operating activities was $8,382 compared to $124,752 for the same period a year ago.

Hemisphere Gold Inc. announced that it has entered into a Letter of Intent to acquire all of the issued and outstanding shares of Angkor Wat Minerals Ltd. Concurrent with the execution of the LOI, Mr. Barry Lucas, Director and Chairman of AWML has been appointed to the Board of Hemisphere to work directly with the company on the closing of the Transaction and the continued development of the AWML projects. Mr. Barry Lucas is with over 25 years of experience in the mining industry in Australia, Africa, South East Asia and many other parts of the world. Mr. Lucas has been on the Board of Directors of several mining companies in Australia and is the Group Founding member of Angkor Minerals Inc., and Eight Star Mining companies in Cambodia.

Hemisphere Gold Inc. announce that Mr. Allen Schwabe has been appointed director and President of the Company as of December 11, 2007. Mr. Schwabe's appointment comes in part through the agreement reached between the Company and Marken Capital Corp. (Marken) enabling the Company to retain an interest in Marken's wholly-owned subsidiary Orion Resources NV (Orion) which holds the Suriname properties. Management of Orion shall continue under the same team that has been in place and as a result Jean Pomerleau, Riaz Sumar, and Dennis Lapoint have resigned from all positions with Hemisphere.