News-Release

Harvest Gold provides Additional Gold Bearing Evidence from its 100% owned Flagship Emerson Property

03/31/2021


Vancouver, British Columbia / March 31, 2021 - Harvest Gold Corporation (TSX.V: HVG) (“Harvest Gold” or the “Company”) provides an update on its 100% owned Au-Cu Emerson Property located in central B.C. The 56 km2 Emerson property comprises 14 contiguous mineral claims located 15 km west of Houston, B.C. with a nearby railroad, high voltage powerline and gas pipeline. 

Mr. Rick Mark, President and CEO of Harvest Gold states: “Today, we are sharing additional information that helped us gain confidence as to the gold bearing potential of our 100% owned Emerson property. It includes samples taken on two different trips to the property in 2019 and 2020 and previously overlooked historical trenching data.”

The first sample is from a property investigation trip in 2019 taken by property vendors Henry Awmack and David Caulfield. This result comes from a subcrop grab sample adjacent to the drill collar of the 1968 Amax drill hole 68-1. It assayed 0.76 g/t Au and 2.7 g/t Ag.

Further evidence was provided as a result of an initial field visit in October 2020 by Harvest Gold’s exploration team, Equity Exploration. The two main purposes of Equity’s trip to Emerson were (i) to confirm the accuracy of specific historical work and (ii) to examine an area in the south-central portion of the property that had received limited trenching and drilling in the 1960s and 1980s by AMAX and Lornex. Collectively, AMAX and Lornex assayed 148 samples from 453.2 m at Emerson with historical average Au, Ag, Pb, Zn and Cu ranges for all samples in these trenches noted in Table 1. 

Equity’s lead exploration consultant for Harvest Gold, Daniel Lui, P.Geo., was able to locate some of the historical trenches that revealed intensely altered host rocks and abundant sulphide-bearing stockwork and sheeted quartz veins. The mineralization potential of these rocks is demonstrated by the previously overlooked historical trenching data (sourced from B.C. assessment reports) that document significant precious and base metal values in Table 1.

Table 1

Table 1: Historical average ranges for Ag, Au, Pb, Zn, and Cu from all 148 samples in 453.2 m of trenching conducted by AMAX and Lornex in 1968 and 1986

Among the 148 historic samples taken from trenches, the assays for two samples displayed highly anomalous values of base and precious metals:

  • Sample #2659 from Trench 86-2E (altered tuff with galena-sphalerite +/- tetrahedrite stringers) assayed 51% Cu, 8.74% Pb, 7.31% Zn, 2,403 g/t Ag and 1.44 g/t Au; and

  • Sample #2658 from Trench 86-2D (pyrite-rich block sampled above bedrock) assayed 0.01% Cu, 0.02% Pb, 0.01% Zn, 6.9 g/t Ag and 0.55 g/t Au.

Readers are cautioned that these two selective samples were collected prior to the introduction of National Instrument 43-101. Details of the sampling methods, handling, and quality control methods used in the generation of this historical technical data are unknown to Harvest Gold, and assay results cannot be and have not been verified by the Company’s Qualified Person for the purposes of National Instrument 43-101.

To further understand the extent of gold mineralization and to assist in creating drill targets at Emerson, a spring 2021 percussion drilling program, consisting of 38 holes, has been designed to test the top of the bedrock below the till cover and is awaiting receipt of a drilling permit to execute this two-to-three-week program.

Qualified Person Statement

The disclosure of technical or scientific information in this press release has been reviewed and approved by Warren Bates, P.Geo. Director of Property Investigations for Harvest Gold. Mr. Bates serves as a Qualified Person under the definition of National Instrument 43-101.

About Harvest Gold Corporation

Harvest Gold is focused on the Interior Plateau of British Columbia exploring for near surface Gold deposits and Copper Gold Porphyry deposits. Harvest’s Board of Directors, management team and technical advisors have collective geological and financing experience exceeding 400 years.

Harvest Gold acknowledges that Emerson is situated in the traditional territory of the Wet’suet’en First Nation. Harvest Gold is committed to developing a positive and mutually beneficial relationship based on respect and transparency with the Wet’suet’en Nation.

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
@ 604.737.2303 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 Harvest Gold Corporation (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.

This news release includes technical information that was generated prior to the introduction of National Instrument 43-101. Details of the sampling methods, handling, and quality control methods used in the generation of this historical technical data are unknown to Harvest Gold, and the drill material, assay results, true width of intercepts herein cannot be and have not been verified by the Company’s Qualified Person for the purposes of National Instrument 43-101.

A number of mineral resources or significant occurrences disclosed herein relate to nearby properties owned by other companies, and the data presented have been extracted from these companies’ press releases and websites. A Qualified Person has been unable to verify this information from the adjacent properties, and such results are not necessarily indicative of potential quantities or grades of mineralization on the Company’s properties.

Relating to exploration, the identification of exploration targets and any implied future investigation of such targets on the basis of specific geological, geochemical and geophysical evidence or trends are future-looking and subject to a variety of possible outcomes which may or may not include the discovery, or extension, or termination of mineralization. Further, areas around known mineralized intersections or surface showings may be marked by wording such as “open”, “untested”, “possible extension” or “exploration potential” or by symbols such as “?”. Such wording or symbols should not be construed as a certainty that mineralization continues or that the character of mineralization (e.g. grade or thickness) will remain consistent from a known and measured data point. The key risks related to exploration in general are that chances of identifying economical reserves are extremely small.

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.