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HVG.V ·

Harvest GOLD Announces Closing of Private Placement

Financings

HARVEST GOLD ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Vancouver, British Columbia / January 4, 2022 - Harvest Gold Corporation (TSX.V: HVG)

(“Harvest Gold” or the “Company”) is pleased to announce that, subject to the final approval of the TSX

Venture Exchange (the “Exchange”) and further to its news release of December 30, 2021, it has closed

its non -brokered private placement (the “Private Placement”) issuing an aggregate of 3,400,000 units

(the “Units”) at $0.10 per Unit raising gross proceeds of $340,000.

Each Unit consists of one common share (each a “Share”) and one common share purchase warrant (each

a “ Warrant”), exercisable at $0.20 per Share for a period of 3 y ears from the date of closing of the

Private Placement, provided that in the event the closing price of the Company’s Shares on the Exchange

(or such other exchange o n which the Company’s Sha res may become traded) is $0.50 or greater per

Share during any f ifteen (15) non -consecutive trading day period after June 15, 2022, the Warra nts will

expire at 4:00 p.m. (Pacific time) on the 30th day after the date on which the C ompany provides notice of

such accelerated expiry to Crescat of the Warrants.

All securities issued in the Private Placement will be subject to a hold period in Canada expiring May 1,

2022.

The Company intends to use the gross proceeds of the Private Place ment for its first drill pro gram at

Emerson and Company operating expenses.

About Harvest Gold Corporation

Harvest Gold is focused on the Interior Plateau of British Columbia e xploring for near surface Gold

deposits and Copper Gold Porphyry deposits. Harv est Gold’s board of director s, management team and

technical advisors have collective geological and financing experience exceeding 400 years.

Harvest Gold acknowledges that th e Emerson and Goathorn Projects are situated in the traditional

territory of the Wet’suet’en Nation while t he Jacobite Project is situated i n the traditional territory of th e

Lake Babine Nation. Harvest Gold is committed to developing positive and mutuall y 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 [email protected]

Neither TSX Venture Excha nge nor its Regulation Services P rovider (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 i ncludes certain statements t hat may be deemed "forward lookin g statements". All statements in this news

release, other than statements of historical facts, that address events o r developments that Harvest Gold expects to occur, are

forward looking statemen ts. Forward looking statemen ts are statements that are not hi storical facts and are generally, but not

HARVEST GOLD CORPORATION

Suite 400 – 1681 Chestnut Street

Vancouver, BC V6CJ 4M6

T: (604) 737-2303

F: (604) 737-1140

E: [email protected]

W: www.harvestgoldcorp.com

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always, identified by the words "expects", "plans", "anticipates", "believ es", "intends", "estimates", "projects", "potential" and

similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.

Although the C ompany believes the expectations expressed in such forward -looking statements are b ased on reasonable

assumptions, such statements are not guarantees of future pe rformance and actual results may differ materially from those in the

forward-looking statement s. Factors that could cause the actual results to differ materially from those in f orward looking

statements include market prices, exploitation and exploration s uccesses, and continued availability of capital and financing, and

general economic, market or business conditions. Investors are cautioned that any such statements are not guar antees of future

performance and actual results or developments may differ mate rially 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 dat e the

statements are made. Except as required by securities laws, the Company u ndertakes no obligation to u pdate these forward -

looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

The securities referred to in this news release have not been, and will not be, registered un der the United States Securities

Act of 1933, as amended (the “U.S. Securities Act”), or any applicable securities laws of any state of the United States, and

may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as such term is

defined in Regulation S under the U.S. Securities Act) or persons in the United States unless registered under the U.S.

Securities Act and any other ap plicable securities laws of the United States or an exemption from such registr ation

requirements is available.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within any

jurisdiction, including the United States. Any public offering of securities in the United St ates must be made by means o f

a prospectus containing detailed information about the company and management, as well as financial statements.