Harvest Gold to acquire 24 claims in Urban Barry belt

Executive Summary

• Harvest Gold Corp. has entered into definitive agreements to acquire 24 additional mineral claims (covering 1,356 hectares) from two arm's-length prospector groups in the Urban Barry greenstone belt of Quebec.
• The acquisition expands the Mosseau property along strike to the north and south, incorporating areas with documented historical gold and base metal showings, and connects the Mosseau and LaBelle properties to provide continuous coverage over approximately 33 kilometers of strike length of favorable geology.
• Total land position in the Urban Barry greenstone belt now totals 401 mineral claims covering 21,372.81 hectares and over 50 kilometers of strike length.

Key Details

• Transaction Structure:
  • Audet-Robert Claim Blocks: Acquired from Jean Robert, Les Explorations Carat, 9495-6976 Quebec Inc.
    • Cash consideration: $60,000 ($30,000 upon TSX Venture Exchange approval; $30,000 payable by June 30, 2026).
    • Equity consideration: 750,000 common shares (one-half upon exchange approval; one-half by June 30, 2026).
    • Shares subject to a four-month statutory resale restriction.
    • Vendors retain a 1% Net Smelter Return (NSR) royalty, of which 0.5% may be repurchased by Harvest Gold for $750,000.
  • Gaudreault Claim Block: Acquired from Daniel Gaudreault.
    • Cash consideration: $5,000.
  • No finders' fees are payable.
  • Agreements remain subject to regulatory approval by the exchange.
• Property Expansion Details:
  • The acquired claims cover 1,356 hectares.
  • Northern expansion incorporates areas underlain by the Toussaint deformation zone.
  • Southern expansion incorporates areas underlain by the Kiask River deformation zone.
  • Combined with the LaBelle property, the acquisition provides continuous coverage over approximately 33 kilometers of strike length of favorable geology south of the Wilson intrusion.
• Historical Exploration Data (Unverified):
  • Northern Showings (Toussaint Deformation Zone):
    • Domtar 116 (Blueberry): 4.4% Cu, 46.0 g/t Ag, and 1.38 g/t Au over 0.18 m (DDH).
    • Domtar 111 (Beehler vein): 0.69 g/t Au, 3.09 g/t Ag, 0.22% Cu, and 0.23% MoS2 over 0.61 m (channel sample); 1.4 g/t Au and 0.86% Cu (grab sample).
    • Riviere Wilson: 1.0 g/t Au (grab sample).
    • Verneuil-BV-92-01: 1.23 g/t Au over 0.27 m (DDH).
    • Verneuil-Serem Est: 1.41 g/t Au over 1.5 m (DDH).
  • Southern Showings (Kiask River Deformation Zone):
    • Lac Labrie: 47.32 g/t Au over 0.3 m (DDH); 22.3 g/t Au over 0.9 m (DDH); 119.67 g/t Au (float sample).
    • Labrie 2: 1.65% Zn and 1.11% Pb (grab samples).
    • Lac Labrie SE: 2.06 g/t Au and 4.46 g/t Ag over 0.61 m (DDH).
• Company Land Position:
  • Total claims: 401.
  • Total area: 21,372.81 hectares.
  • Total strike length: Over 50 kilometers of favorable and potentially mineralized structures.

Notable Quotes

• "This expansion enhances our strategic footprint in the Urban Barry greenstone belt. Importantly, it connects Mosseau and LaBelle and now covers the entirety of the Kiask River deformation zone. Historical results and surface showings from only a small portion of the now expanded Mosseau property underscore the strong exploration potential across the largely underexplored 100-per-cent-owned land package." — Rick Mark, President and CEO