News-Release

Harvest Gold Corporation Announces Financing

06/16/2006


Vancouver, British Columbia, Canada. June 16, 2006. Harvest Gold Corporation (HVG - TSX-V) (the “Company”) is pleased to announce that it proposes to raise up to $1.2 million by the issuance of units at a price of $0.15 per unit (the “Units”) and flow through common shares at a price of $0.18 per share. Each Unit will consist of one non-flow through common share and one-half of one share purchase warrant, with each whole warrant entitling the holder thereof to purchase one non-flow though common share of the Company at a price of $0.20 for a period of one year from closing.

 

The private placement is subject to regulatory approval.


Finder's fees in the amount of 8% in cash, securities or a combination of both may be paid in conjunction with this placement and in accordance to TSX Venture Exchange policies. The proceeds of the financing will be used for exploration activities on the Company’s Rice Lake Gold Belt properties in Manitoba, to develop its Nevada property portfolio and for general working capital.
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


The TSX Venture Exchange does not accept responsibility for

the adequacy or accuracy of this News Release