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Harvest Reaches Agreement to Sell Rosebud

02/12/2015

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Vancouver, B.C. February 12, 2015 - Harvest Gold Corporation (TSX.V: HVG) (the “Company”) is pleased to announce that it has reached an agreement with Montrose Gold Limited (“Montrose”), a private Ontario corporation, to sell its Rosebud Mine Project in Nevada (“Rosebud”).

As consideration for Rosebud, Montrose is to pay CDN$250,000 and US$50,000 to the Company on closing and, in circumstances where a mine is commissioned at Rosebud, Montrose is to pay the Company a further CDN$2,000,000. If Montrose is listed on the Toronto Stock Exchange or the TSX Venture Exchange at the time such payment comes due, it may satisfy half of such payment by the issuance of CDN$1,000,000 of shares of Montrose valued at the then market price.

On closing of the sale of Rosebud, Montrose shall assume all obligations of the Company in respect of the 3% net smelter returns royalty on Rosebud (the “Royalty”) including the obligations to make annual advance Royalty payments. The Company will however retain its right to purchase one-half of the Royalty for US$2,250,000 but will grant Montrose a right of first refusal in connection with any sale of the right to purchase. The agreement remains subject to shareholder approval and the acceptance of the TSX Venture Exchange.

On behalf of the Board of Directors,

Rick Mark,
CEO
Harvest Gold Corporation

For more information please contact:

Rick Mark or Jan Urata
@ 604.682.2928 or info@harvestgoldcorp.com