Harvest Gold completes earn-in requirements to acquire 100%* of its flagship Emerson Project
Vancouver, November 10, 2021 - Harvest Gold Corp. ("Harvest", "Harvest Gold" or the "Company") (TSXV:HVG) announces that it has successfully met the property work requirement and 2021 cash payments required to earn a 100%* interest in the Emerson property. Harvest Gold's' President and CEO Rick Mark commented: "We have been very encouraged by the reaction to our recent 3D IP results on our flagship Emerson project. Today, we are informing our shareholders and the market that we now own 100% of Emerson, save cash payments totaling $150,000 through 2024, which we can pay in full at our discretion. There is a 1.5% NSR on Emerson.
The Company has also earned a 100% interest in the Goathorn property with the same cash payment/NSR as Emerson.
Finally, the Company also reached an agreement with the property vendors, Running Dog Resources Ltd. ("Running Dog") and Attunga Holdings Inc. ("Attunga"), whereby the Company can earn a 100% interest in the Jacobite project by the completion of a 2D induced polarization ("IP") survey on Jacobite in 2022, with the same cash payment/NSR terms.
The 56 km2 Emerson project comprises 14 contiguous mineral claims located 15 km west of Houston, B.C. with a nearby railroad, high voltage powerline and gas pipeline. Harvest Gold has successfully completed its predrill exploration plan with the completion of an airborne magnetic survey in January, 2021, a top-of-bedrock RAB drilling program in July/August, 2021 and a 3D IP survey in September, 2021. The Company has confirmed its Blackwater near surface gold model hypothesis and the Emerson project is now ready for its maiden core drilling program.
Qualified Person Statement
The disclosure of technical or scientific information in this press release has been reviewed and approved by Warren Bates, P.Geo. Director of Property Investigations for Harvest Gold. Mr. Bates serves as a Qualified Person under the definition of National Instrument 43-101.
*Subject to completion of yearly cash payments, Advance Royalty Payments and a 1.5% NSR to the Vendors. One half of the NSR royalty (0.75%) may be purchased for $500,000 prior to the publication of a mineral resource or for $1,500,000 thereafter. See Harvest Gold news release dated June 23, 2020 for details.
About Harvest Gold Corporation
Harvest Gold is focused on the Interior Plateau of British Columbia exploring for near surface Gold deposits and Copper Gold Porphyry deposits. Harvest Gold's board of directors, management team and technical advisors have collective geological and financing experience exceeding 400 years.
Harvest Gold acknowledges that the Emerson and Goathorn Projects are situated in the traditional territory of the Wet'suet'en Nation while the Jacobite Project is situated in the traditional territory of the Lake Babine Nation. Harvest Gold is committed to developing positive and mutually beneficial relationships based on respect and transparency with local Indigenous communities.
ON BEHALF OF THE BOARD OF DIRECTORS
Rick Mark,
President and CEO
Harvest Gold Corp.
For more information please contact:
Rick Mark or Jan Urata
@ 604.737.2303 or info@harvestgoldcorp.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
This news release includes certain statements that may be deemed "forward looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that Harvest Gold expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
This news release may include technical information that was generated prior to the introduction of National Instrument 43-101. Details of the sampling methods, handling, and quality control methods used in the generation of this historical technical data are unknown to Harvest Gold, and the drill material, assay results, true width of intercepts herein cannot be and have not been verified by the Company's Qualified Person for the purposes of National Instrument 43-101.
A number of mineral resources or significant occurrences disclosed herein relate to nearby properties owned by other companies, and the data presented have been extracted from these companies' press releases and websites. A Qualified Person has been unable to verify this information from the adjacent properties, and such results are not necessarily indicative of potential quantities or grades of mineralization on the Company's properties.
Relating to exploration, the identification of exploration targets and any implied future investigation of such targets on the basis of specific geological, geochemical and geophysical evidence or trends are future-looking and subject to a variety of possible outcomes which may or may not include the discovery, or extension, or termination of mineralization. Further, areas around known mineralized intersections or surface showings may be marked by wording such as "open", "untested", "possible extension" or "exploration potential" or by symbols such as "?". Such wording or symbols should not be construed as a certainty that mineralization continues or that the character of mineralization (e.g. grade or thickness) will remain consistent from a known and measured data point. The key risks related to exploration in general are that chances of identifying economical reserves are extremely small.
Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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