Harvest GOLD Receives Drill Permits FOR Phase 1 Diamond Drill Program at Cerro Cascaron and Announces Non- Brokered Private Placement
NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED
STATES
HARVEST GOLD RECEIVES DRILL PERMITS FOR PHASE 1 DIAMOND
DRILL PROGRAM AT CERRO CASCARON AND ANNOUNCES NON-
BROKERED PRIVATE PLACEMENT
Vancouver, British Columbia / April 16 , 2018 - Harvest Gold Corporation (TSX.V:HVG)
(“Harvest Gold” or the “Company”) is pleased to announce that drill permits to conduct a Phase
1 diamond drilling exploration program at the high -grade Cerro Cascaron gold -silver project in
Mexico have been received. The first phase plan for diamond drilling consists of 14 diamond drill
holes comprising 3 ,000-3,500 metres in 5 of 8 target areas on the pr operty which have been
defined by rock channel, grab and soil samples. Planned hole depths range from 100-300 metres.
Harvest Gold’s President and CEO Rick Mark states: “ We are very pleased to have received the
drill permits for our initial drill program at Cerro Cascaron. I would like to thank our shareholders
for their patience, as we did expect the permits to be awarded earlier in the year, but now look
forward to working with our J oint Venture partner Evrim Resources Corp. (“ Evrim”) (EVM:
TSXV) to get our first drill campaign started as soon as possible.”
Predicated on the success of the Phase 1 program, Harvest and Evrim contemplate a multiple
phase drill program at Cerro Cascaron. A Phase 2 drill program, consisting of a n additional 3,700
metres will be considered in the Dolores, San Pedro, El Salto, Cascarita, La Puerta, Carabina and
Julieta areas, in addition to pursuing drill successes from Phase 1.
The Cerro Cascaron project covers 69 square kilometres in a historic Colonial-era mining district
in the prolific Sierra Madre Occidental (“SMO”) precious metals belt of western Chihuahua State.
Harvest Gold has the right to earn up to an 80% interest in Cerro Cascaron from Evrim by
incurring certain exploration expenditure s, making cash and share payments and delivering a NI
43-101 compliant feasibility study.
Harvest and E vrim have negotiated a six-month extension to December 31, 2018 for the
completion of Harvest’s first-year exploration commitment and cash payment on Cerro Cascaron.
Harvest will pay $30,000 cash to Evrim upon signing the extension. All other obligations under
the option agreement remain the same.
Private Placement
The Company proposes to raise up to $1.8 million through a non-brokered private placement of up
to 36 million units at price of $0.05 per unit. Each unit will consist of one common share and one
transferable common share purchase warrant, each warrant entitling the holder to acquire one
additional common share of the Company at a price of $0.10 per common share for two years
from the date of issuance.
HARVEST GOLD CORP.
Suite 804 – 750 West Pender Street
Vancouver, BC V6C 2T7
T: (604) 682-2928
F: (604) 685-6905
W: www.harvestgoldcorp.com
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The warrants will be subject to an acceleration clause whereby in the event that the clo sing price
of the Company’s common shares on the TSX Venture Excha nge is CAD$0.17 or greater per
share during any 20 non -consecutive trading day period at any time, the warrants will expire at
4:00 p.m. (Vancouver time) on the 30th day after the date on wh ich the Company provides notice
of such accelerated expiry to the warrant holders.
Finder’s fees may be payable in cash and warrants in accordance with the policies of the TSX
Venture Exchange.
The Company plans to use the proceeds of the private placement for the Phase 1 Drill program and
additional regional exploration at Cerro Cascaron and for general working capital purposes.
About the Cerro Cascaron Project
The Cerro Cascaron property hosts a low to intermediate sulphidation epithermal gold bearing
system and includes a high-grade gold vein field measuring approximately 18 square kilometres in
area on the eastern third of the property. Veining has been mapped on a cliff face for over 900
vertical metres, with classic textural evidence of multiple phases of hydrothermal boiling
accompanying the highest gold grades. These boiling zones have been established in the upper 380
metres of the vein field. Beneath the boiling zones, silver- and base metal-rich veins and breccias
provide additional exploration targets.
Cerro Cascaron’s setting and mineralization is similar to many epithermal deposits in the Sierra
Madre Occidental, including Fresnillo PLC's La Cienega M ine in Durango, Goldcorp’s past
producing El Sauzal gold mine and further south, First Majestic’s San Martin de Bolanos silver
mine in Jalisco State. The property is approximately 55 kilometres southeast of Goldcorp Inc.’s
past-producing El Sauzal gold mi ne and is one of the few unexplored and undrilled opportunities
in the region.
Readers should refer to Evrim’s press releases dated June 8 and August 17, 2016 and Harvest Gold
press releases dated June 8 and 15 and October 5 and 18 and November 27 , 2017 for a full
description of previous exploration results.
Quality Assurance/Quality Control
Mr. Warren Bates, P. Geo (APGO#0211), the Company’s Director of Property Investigation, is the
Qualified Person for this press release for the purposes of National Instrument 43 -101, and has
reviewed and approved the technical information herein.
About Harvest Gold
Harvest Gold is a gold -focused mineral exploration company with an experienced board of
directors and management whose collective geological and financing experience exceeds 200
years. Harvest also holds three fully registered mineral concessions on properties in the Republic
of Suriname: the Goliat-Tibiti, Gonini River and Oelemari concessions.
About Evrim Resources
Evrim Resources is a mineral exploration company whose goal is to participate in significant
exploration discoveries supported by a sustainable business model. The Company is well financed,
has a diverse range of quality projects and a database in Mexico and portions of the southwestern
United States. The existing projects, and generation of quality exploration targets and ideas, a re
advanced through option and joint venture agreements with industry partners to create shareholder
value. Evrim’s business plan also includes royalty creation utilizing the Company’s exploration
expertise and existing projects.
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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
@ 604.682.2928 or [email protected]
FORWARD-LOOKING STATEMENTS: This news release contains certain "forward -looking statements" within the
meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Except for statements of
historical fact relating to the company , certain information contained herein constitutes forward -looking statements.
Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend,"
"believe," "anticipate", "estimate" and other similar words, or s tatements that certain events or conditions "may" or
"will" occur. Forward -looking statements are based on the opinions and estimates of management at the date the
statements are made, and are subject to a variety of risks and uncertainties and other facto rs that could cause actual
events or results to differ materially from those projected in the forward -looking statements. These factors include the
inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in
interpreting drilling results and other geological data, fluctuating metal prices, the possibility of project cost overruns o r
unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and
other factors. The Company undertakes no obligation to update forward -looking statements if circumstances or
management's estimates or opinions should change. The reader is cautioned not to place undue reliance o n forward-
looking statements.
This news r elease is not for distribution or dissemination in the United States and accordingly, shall not constitute an
offer of securities in the United States. The securities that may be issued pursuant to this news release are not currently
qualified by prospect us or registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or the
laws of any state, and may not be offered or sold in the United States, or to, or for the account or benefit of United States
persons (as defined in Regulatio n S under the Securities Act) or persons in the United States absent registration or an
applicable exemption from the registration requirements. The securities are subject to resale restrictions under
applicable securities laws.
Neither the TSX Venture Ex change nor its Regulation Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.