Vancouver, British Columbia / July 6, 2020 - Harvest Gold Corporation (TSX.V:HVG) (“Harvest Gold” or the “Company”) announces that, subject to the approval of the TSX Venture Exchange (the “Exchange”), it proposes to raise up to $110,000 through a non-brokered private placement (the “Private Placement”) of up to 1,100,000 units (the “Units”) at a price of $0.10 per Unit.  Each Unit will consist of one common share (the “Shares”) and one common share purchase warrant (the “Warrants”).  Each Warrant will be exercisable for one transferable common share of the Company at a price of $0.15 for three (3) years from the date of closing.

The Warrants will be subject to an acceleration clause whereby in the event that the closing price of the Company’s Shares on the Exchange is $0.22 or greater per Share during any 20 non-consecutive trading day period at any time, the Warrants will expire at 4:00 p.m. (Vancouver time) on the 30th day after the date on which the Company provides notice of such accelerated expiry to the Warrant holders.

All securities issued in the Private Placement will be subject to a hold period of four months and one day following the closing date of the Private Placement.

Finder’s fees may be payable in cash and Warrants in accordance with the policies of the Exchange.

The Company intends to use the gross proceeds of the Private Placement for payments related to the acquisition of mineral properties, continuing due diligence costs and general working capital.

About Harvest Gold Corporation

Harvest Gold is a gold-focused mineral exploration company with an experienced board of directors and management whose collective geological and financing experience exceeds 200 years. 

ON BEHALF OF THE BOARD OF DIRECTORS

Rick Mark
President and CEO
Harvest Gold Corporation

For more information please contact:

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

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information

This news release includes certain statements that may be deemed "forward looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.

Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any applicable securities laws of any state of the United States, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act) or persons in the United States unless registered under the U.S. Securities Act and any other applicable securities laws of the United States or an exemption from such registration requirements is available.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within any jurisdiction, including the United States.  Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.