News-Release

Harvest Gold Completes high-resolution Airborne magnetic survey over Mosseau project in Quebec

04/18/2024

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Vancouver, British Columbia / April 18, 2024  Harvest Gold Corporation (TSXV: HVG) (“Harvest Gold” or the “Company”) is pleased to announce that the Company has completed a 1,646 line-km high-resolution helicopter survey, covering 71.36 km2 over its Mosseau Project located in the Urban Barry region of Quebec.

The helicopter-borne system included two laser optically pumped magnetic sensors providing 1,000 measurements per second (1,000 Hz) from a “stinger” mounted at the front of a Guimbal G2 light helicopter. The survey was completed with 50 m lines and 500 m control lines spacing and at a minimum survey drape elevation of 15 m above the ground (Figure 1).

Harvest Gold Senior Technical Consultant Louis Martin states: “Today’s release shows the new Total Field Magnetics map overlaid with the known historical gold showings at Mosseau. We also compare today’s magnetics map with the Quebec government regional magnetics map flown between 1970-1990 using the technology of the day (Figure 2). We are now compiling Mousseau’s historical exploration databases with this new, more precise data to guide our exploration program planning. This will provide us much better clarity on the key elements of the geological stratigraphy, shear zones, faults, spatial positioning and the continuity of the numerous gold showings.”

Airborne Magnetic Survey Highlights

  • Enhanced Aeromagnetic Resolution: The survey was completed with 50 m line spacing and at a minimum survey drape elevation of 15 m above the ground. The advantage of a single continuous survey is that it does not require the merging of various digital datasets of different scales and resolutions. (Government regional survey included flight lines at 200 m spacing and survey height of 120 m).
  • Increased Geological Understanding: The survey provides a much better definition of the important mineralized contact between volcanic and intrusive rocks along with folding on the property.
  • Mineralized Structures: The combination of the Mag survey and known gold showings provides better definition and continuity of mineralized horizons when known mineral showings are incorporated. The survey also aids in the identification of significant NE cross cutting features potentially controlling mineralization.

Harvest Gold President and CEO Rick Mark states: “We are pleased to provide investors with the results of this state-of-the-art, high-resolution magnetic survey that will serve as a cornerstone to our upcoming explorations programs. We expect the compilation work will define extensions of known mineralization and identify significant new gold targets along the 18 km strike running the length of the property.”

Upcoming compilation work will include incorporating the recent magnetic data with the LiDAR and topographic digital elevation model to identify mineralized shear zones and cross cutting faults. The magnetic data will also be used to update the geology map and identify key stratigraphic contacts and structures. Once the various datasets are assembled, the numerous mineralized showings as defined by diamond drilling and surface samples will be included and will define lateral extensions of the mineral horizons.

Planned fieldwork for the summer 2024 includes a property wide soil geochem program and prospecting across the Mosseau property.

2024 Airborne Magnetic Survey

The high-resolution airborne magnetic survey over Harvest Gold’s flagship Mosseau property was completed by Novatem Airborne Geophysics based out of Mont Saint-Hilaire, Quebec. The project is located 18 km east of the town of Lebel-sur-Quevillon. The survey was completed between March 26th and March 29th, 2024. The survey covered a total area of 53.6 km2 and included 1,646 line-km. Novatem provided preliminary processing and quality control of the geophysical data on site as well as the preparation and supply of preliminary and final products.

Figure 1: Magnetic coverage of Mosseau Project

Figure 2: Comparison in resolution between 2024 Harvest Gold magnetic survey and Quebec Government regional magnetic survey completed between 1970 and 1990.

Qualified Person Disclosure

The disclosure of technical or scientific information in this press release has been reviewed and approved by Louis Martin, P.Geo. (OGQ 364), Qualified Person for Harvest Gold.  Mr.  Martin serves as a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators.

About Harvest Gold Corporation

Harvest Gold is focused on exploring for near surface gold deposits and copper-gold porphyry deposits in politically stable mining jurisdictions. Harvest Gold’s board of directors, management team and technical advisors have collective geological and financing experience exceeding 400 years.

Harvest Gold has three active gold projects focused in the Urban Barry area, totalling 329 claims covering 17,539.25 ha, located approximately 45-70 km east of Osisko-Gold Fields Windfall Deposit.

Harvest Gold acknowledges that the Mosseau Gold Project straddles the Eeyou Istchee-James Bay and Abitibi territories.  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.

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.