Harvest Gold Announces Closing Of Oversubscribed Non-Brokered Private Placement

Executive Summary

• Harvest Gold Corporation closed an oversubscribed non-brokered private placement raising approximately $3,169,250 in aggregate gross proceeds.
• The financing consists of standard units and charity flow-through (CFT) units, with proceeds designated for the 2026 drilling campaign, exploration expenses, and general working capital.
• The company outlined a strategic path to earn an 80% interest in the Mosseau project through a $1.5M exploration commitment, significantly expanding its land position in Quebec's Urban Barry Belt.

Key Details

• Financing Structure & Proceeds: Closed oversubscribed non-brokered private placement raising ~$3,169,250 gross proceeds.
• Standard Units: 33,025,000 units issued at $0.05/unit, raising $1,651,250.
• Charity Flow-Through (CFT) Units: 22,000,000 CFT units issued at $0.069/unit, raising $1,518,000.
• Warrant Terms: Each unit (standard and CFT) includes one warrant exercisable at $0.09/share for 3 years following the closing date.
• Finder’s Fees: $46,560 cash and 931,200 non-transferable finder’s warrants (exercisable at $0.09/share for 3 years) paid to arm’s length finders.
• Use of Proceeds (Standard): Allocated to the 2026 drilling campaign, various exploration expenses, and general working capital.
• Use of Proceeds (CFT): Designated for eligible Canadian exploration expenses qualifying as flow-through mining expenditures in Québec; proceeds will be renounced by December 31, 2026, and incurred by December 31, 2027.
• Hold Period: All securities subject to a 4-month hold period expiring October 24, 2026.
• Strategic Option Agreement: CEO confirmed that spending ~$1.5M on Mosseau exploration and drilling in 2026 will earn Harvest Gold an 80% interest in the project via an option agreement with Vior, Inc.
• Land Position & Project Portfolio: The earning interest will provide over 50 km of strike in the Urban Barry Belt. The company’s three active projects (Mosseau, Urban-Barry, LaBelle) cover 443 claims (23,740 ha) with >50 km of favorable strike along mineralized shear zones, located 45-70 km west of Gold Fields’ Windfall Deposit.

Notable Quotes

• “This financing represents a major shift in Harvest Gold’s status in the junior exploration space. By spending approximately $1.5M on Mosseau through exploration and drilling this year, we will earn 80% of Mosseau through our option agreement with Vior, Inc. We will then own over fifty kilometers of strike in the Urban Barry Belt, which is largely owned/controlled by Gold Fields Limited... So, while we all await drill results, Harvest Gold shareholders will soon own a significant amount of real estate in the Quebec Abitibi.” – Rick Mark, President and CEO