News Release -

HARVEST GOLD CORPORATION ANNOUNCES FINANCING
August 18, 2006

Vancouver, British Columbia, Canada. August 18, 2006.  Harvest Gold Corporation (HVG - TSX-V) (the “Company”) is pleased to announce that it has closed the second tranche of its non-brokered private placement previously announced on June 16, 2006.  The closing of the first tranche of the private placement was announced on July 17, 2006. The Company has raised a further total of $312,480 through the issuance of 186,000 flow-through shares and 1,860,000 non-flow through units.  Flow-through shares were sold at a price of 18 cents per common share.  Non-flow-through units were sold at 15c cents per unit.   Each unit consists of one non-flow through common share and one-half of one share purchase warrant, with each whole warrant entitling the holder thereof to purchase one non-flow through common share of the Company at a price of 20 cents at any time prior to August 1, 2007.  All securities are subject to a four month hold period and will expire December 2, 2006.

In the first tranche the Company raised a total of $742,625 through the issuance of 1,047,777 flow-through shares and 3,693,500 non-flow through units.

A commission was paid in respect of the second tranche financing in the aggregate amount of $26,400 as well as 4,000 non-flow through units, 8,000 flow-through shares, and 2,000 warrants entitling the agent to acquire up to 2,000 common shares at a price of 20 cents per common share until July 12, 2007.

The proceeds of the financing will be used for exploration activities on the Company’s Rice Lake Gold Belt properties in Manitoba, to develop its Nevada property portfolio and for general working capital.

For more information call (604) 986-2020 or toll free 1-866-816-0118, or visit www.harvestgoldcorp.com

On Behalf of the Board of Directors,

Harvest Gold Corporation

Richard Mark

Chairman