Vancouver, BC. – July 20, 2018 – Harvest Gold Corporation (TSX.V: HVG) (the “Company”) announces that it has sold its Suriname mineral projects by selling the shares of CanaSur Gold Limited (“CanaSur”) to its agent in Suriname (the “Purchaser”) for US$150,000. The full amount is payable as to US$10,000 on closing and the balance by way of a promissory note (the “Note”) for US$140,000 payable in 90-day increments beginning July 31, 2018 with the final payment due on or before November 1, 2019. The obligations of the Purchaser under the Note are secured by a pledge of the shares of CanaSur.
President and CEO Rick Mark states: "After much consideration, the Board has sold its Suriname assets. We simply were not able to get the financing to get our most promising property, Tibiti, to a drill ready stage in these challenging junior gold markets. Further, the three Suriname properties were costing approximately $10,000 a month to maintain. That drain to the Company treasury ended in April when negotiations began. We plan to use the incremental payments to carry our basic public company operating costs, thus allowing almost all the new money we are raising to go directly to developing our main asset, the high-grade gold/silver project in Mexico, Cerro Cascaron.
The purchaser, Mr. Jbara, who lives in Suriname, has worked with us over many years to manage the properties and owns the surface rights at Tibiti. He is uniquely situated to make this business opportunity work and we thank him for his loyalty over the years and wish him well.”
About Harvest Gold
Harvest Gold is a mineral exploration company presently advancing its Cerro Cascaron high grade gold/silver project in Chihuahua State, Mexico, where an initial 3,000 m drill program is planned for 2018. The Company has an experienced Board of Directors and management team whose collective geological and financing experience exceeds 200 years.
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
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