News-Release

Harvest Gold Corporation Announces Closing of Financing

05/24/2006


Vancouver, British Columbia, Canada.  May 24, 2006.  Harvest Gold Corporation (HVG - TSX-V) (the “Company”) is pleased to announce that it has closed its private placement previously announced March 17, 2006.  The Company has raised $330,000 through the issuance of 2,200,000 units at a price of $0.15 per unit, each unit consisting of one common share and one share purchase warrant.  Each warrant entitles the holder thereof to purchase one common share of the Company at a price of $0.22 expiring May 9, 2007.  The Company issued 66,800 units as finders’ fees in connection with the financing.  These units are on the same terms as the placement units.

All securities issued in connection with the financing are subject to a four month hold period expiring September 10, 2006.  Proceeds from this financing will be used for exploration activities on the Company’s Rice Lake Gold Belt properties in Manitoba and to investigate additional gold opportunities in Nevada, USA.

Harvest Gold Corporation is a mineral exploration company focused on the acquisition and development of gold and gold-silver exploration opportunities in Canada and the United States. Presently the Corporation has option agreements on the Longstreet Mine Gold/Silver Property in Nye County, Nevada, USA and two Gold Properties in the Rice Lake Gold Belt near Bissett, Manitoba. It also has a 40% interest in the Assean Lake Gold Property, operated by JV partner Canadian Goldhunter (CGH-T).

 For more information call (604)986-2020 or toll free 1-866-816-0118, or visit www.harvestgoldcorp.com.

On Behalf of the Board of Directors,

Harvest Gold Corporation

Richard Mark

Chairman & Director

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