News-Release

Harvest Gold’s Final 3D IP results Completes Pre-Drilling Exploration; Blackwater Gold Model Targeting Underway

10/21/2021

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Vancouver, British Columbia – October 21, 2021 - Harvest Gold Corporation (“Harvest”, “Harvest Gold” or the “Company”) (TSXV: HVG) is pleased to announce that it has successfully completed its 2021 pre-drilling exploration with the receipt of the final 3D IP inversions for its 100% owned Au-Cu Emerson Property (the “Emerson Property”). 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. It is 100% owned by Harvest Gold.

Henry Awmack, Emerson Property co-vendor and member of Harvest Gold’s Geoscience Advisory Board, states: “The survey has enlarged the favourable quartz-sericite-pyrite alteration zone indicated by the RAB drilling and added the third dimension of depth, resulting in a very large volume of rock with high chargeability and low resistivity. This is believed to represent highly altered, sulphide-rich material which requires drill testing.”

Harvest Gold CEO, Rick Mark, states: “It has taken a full 10 months, but we have used each well-planned exploration step to remove as much risk as possible ahead of the decision to drill. My thanks go to Equity Exploration, an invaluable partner in this scientific enterprise, our outstanding Technical Team for their diligence and guidance and to our ‘early adopting’ brokers and shareholders who have made this possible.”

3D IP PROGRAM RESULTS

The 3D IP program, executed and interpreted by Dias Geophysics, was chosen because of its impressive data collection capability and modeling. The resultant inversions show a strong, cohesive chargeability high anomaly (>40 mV/V), which forms a tabular body measuring 1000 metres x 1800 metres in plan and 300 metres in thickness, dipping gently to the south. (See figure 1)

The chargeability anomaly strikes northwest southeast and remains open to the northwest past the limits of the IP grid. The chargeability high anomaly is accompanied by extremely low resistivity (<100 ohm-m). It shows that the strong quartz-sericite-pyrite alteration revealed by the top-of-bedrock RAB drilling is the surface expression of this impressive chargeability anomaly. The chargeability high and resistivity low are favourable indicators for the presence of highly altered, sulphide-rich rock in this region. (See Figure 2).

Harvest Gold has now successfully completed the three stages of its pre drill exploration plan with the completion of the airborne magnetic survey in January, 2021, the top-of-bedrock RAB drilling in July/August, 2021 and the 3D IP survey in September, 2021. The Company has confirmed its Blackwater near surface gold model hypothesis and the Emerson Property is now ready to drill.

FIGURES

Figure 1
Figure 1: 3D chargeability inversion model looking northeast. Dashed line shows outline of quartz-sericite-pyrite alteration as revealed in RAB holes
Figure 1
Figure 2: 3D IP chargeability inversion model (750 m elevation slice) showing location of RAB drill holes.

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 Gold’s board of directors, management team and technical advisors have collective geological and financing experience exceeding 400 years.

Harvest Gold acknowledges that the Emerson and Goathorn Projects are situated in the traditional territory of the Wet’suet’en Nation while the Jacobite Project is situated in the traditional territory of the Lake Babine Nation.  Harvest Gold is committed to developing positive and mutually beneficial relationships based on respect and transparency with local Indigenous communities.

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 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 may include 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.