News-Release

HARVEST GOLD ANNOUNCES PROPOSED SHARE CAPITAL CONSOLIDATION

06/15/2012


Vancouver, BC, June 15, 2012.  Harvest Gold Corporation (HVG – TSX.V) (the “Company”) wishes to announce that, as detailed in its Management Information Circular filed on SEDAR, at its upcoming Annual General Meeting to be held on June 26, 2012 shareholders will be asked to approve a consolidation of the Company’s issued share capital of up to 10 for 1.  The Company currently has 69,813,245 shares outstanding and, if the consolidation was effected on a 10 for 1 basis, a total of 6,981,324 shares of the Company would then be issued and outstanding.  It is not proposed that the name of the Company will change as a result of a consolidation.

The Board of Directors of the Company is seeking shareholder approval to the share consolidation on the basis that it will provide the Company with increased flexibility to seek additional financing opportunities and strategic acquisitions.

Any consolidation of the Company’s issued share capital remains subject to shareholder approval and the acceptance of the TSX Venture Exchange.  Even if shareholder approval is obtained, the determination of if and when to proceed with a share consolidation, and the ratio of such consolidation remains at the discretion of the Board of Directors.

Harvest Gold Corporation is a mineral exploration company working in Nevada, USA and Manitoba, Canada. In Nevada, the Company controls 100% interests in the advanced-stage Rosebud Gold Mine property, and generative gold properties at Garcia Flats in the South Carlin Trend. In Manitoba, Harvest is engaged in early-stage exploration of three groups of 100% owned claims in the Rice Lake Gold Belt and holds a 40% interest in the more advanced-stage, Assean Lake project.

 

On behalf of the Board of Directors,

Rick Mark
CEO
Harvest Gold Corporation