News-Release

Harvest Gold Corporation Announces Financing

09/26/2006


Vancouver, British Columbia, Canada. September 26, 2006.  Harvest Gold Corporation (HVG - TSX-V) (the “Company”) is pleased to announce that it has closed the third and final tranche of its non-brokered private placement previously announced on June 16, 2006.  The closing of the first tranche of the private placement was announced on July 17, 2006. The closing of the second tranche was announced on August 18, 2006.  The Company has raised a further total of $158,810 through the issuance of 142,000 flow-through shares and 888,333 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 15 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 September 25, 2007.  All securities are subject to a four month hold period and will expire January 26, 2007.

 

In the first tranche the Company raised a total of $742,625 through the issuance of 1,047,777 flow-through shares and 3,693,500 non-flow through units.  In the second tranche the Company raised a total of $312,480 through the issuance of 186,000 flow-through shares and 1,860,000 non-flow through units.

 

The total gross proceeds raised via this placement are $1,213,915.

 

A commission was paid in respect of the final tranche financing in an aggregate amount of $8,500.  A commission was paid in respect of the second tranche financing in the aggregate amount of $40,080 as well as 4,000 non-flow through units, 8,000 flow-through shares, and 2,000 warrants entitling the agent to acquire up to 2,000 common shares at a price of 20 cents per common share until July 12, 2007.

 

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

 

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