Vancouver, British Columbia, Canada. July 17, 2006.  Harvest Gold Corporation (HVG - TSX-V) (the “Company”) is pleased to announce that it has closed the first tranche of its non-brokered private placement previously announced on June 16, 2006. 

The Company has raised a total of $742,625 through the issuance of 1,047,777 flow-through shares and 3,693,500 non-flow through units.  Flow-through shares were sold at a price of 18 cents per common share.  Non-flow-through units were sold at 15c cents per unit.   Each unit consists 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 through common share of the Company at a price of 20 cents at any time prior to July 12, 2007. 

All securities are subject to a four month hold period and will expire November 13, 2006.

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.

The Company will announce the closing of the second and final tranche of this financing by July 31, 2006.

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

For more information about Harvest Gold Corporation, please review the company’s

web site www.Harvestgoldcorp.com  or speak with a Company representative

at 1-866-816-0118 or 604-986-2020.

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adequacy or accuracy of this News Release