Vancouver, BC, January 7, 2009 – Harvest Gold Corporation (HVG-TSX:V) (the “Company”) announces that at its annual general meeting held on December 11, 2008 the following Directors were reappointed: Richard Mark, John Roozendaal, Evan Sleeman, George Gale and Jay Butterworth.  Dale Matheson Carr-Hilton Labonte LLP, Chartered Accountants, was also reappointed as auditor of the Company.

The Company also received shareholder approval for the re-pricing of certain outstanding options granted to directors and officers of the Company. The Company proposes to reprice options to purchase up to an aggregate of 1,687,500 common shares in the capital of the Company at exercise prices of $0.15, $0.20, $0.22 and $0.34 per share to an exercise price of $0.12 in order to more closely reflect the current trading range of the Company’s common shares. Coincident with the re-pricing of the outstanding options to directors and officers, the Company proposes to re-price those outstanding options that were granted to employees and consultants at exercise prices of $0.15, $0.20, $0.22 and $0.34 per share to an exercise price of $0.12, being an aggregate of 1,747,500 options. 

The repricing of all options remains subject to approval by the TSX Venture Exchange.

On behalf of the Board of Directors,

Richard Mark,

Chairman and CEO

Harvest Gold Corporation

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