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Harvest Initiates B.C. Exploration Programs with Preparation for Airborne Magnetic Surveys at Emerson and Jacobite





Vancouver, British Columbia - TheNewswire - September 24, 2020 - Harvest Gold Corporation (TSXV:HVG) ("Harvest Gold" or the "Company") announces it has asked Equity Exploration Consultants Ltd. ("Equity Exploration") to seek bids to execute an airborne magnetics survey over its Emerson and Jacobite properties in the Interior Plateau of British Columbia.

Henry Awmack, P.Eng., who developed the Emerson and Jacobite projects, is a member of Harvest Gold's technical advisory board and states: "These airborne magnetics surveys require limited preparation and deliver excellent value for money. They will provide us with an initial data set that gives us a much better understanding of the geological context for the Blackwater target (Emerson) and the porphyry targets (Emerson and Jacobite). As importantly, this will help guide our line cutting and ground IP programs that we will use to confirm drill targets."

Rick Mark, President and CEO of Harvest Gold states: We are every excited to embark on our search for gold and copper gold porphyry ore bodies on our three 100% owned BC properties. This moment really is the result of Henry's seven-year geological sleuthing mission to find deposits within the fertile geology of the interior plateau of British Columbia. Our entire team is looking forward to working with Henry and Equity Exploration to achieve our now shared goal."

For both the Blackwater target (Emerson) and the porphyry targets (Emerson and Jacobite), the airborne magnetic survey specifications are to fly at approximately 50m ground clearance and 100m line spacing over the entire properties. The survey results will:

  1. 1. Help identify lithologies and alteration zones. Each lithology and type of alteration has a characteristic range of magnetic susceptibilities. Interpretation of the magnetic survey will differentiate areas underlain by different lithologies and alteration types. This will be very helpful as a guide to mapping and for interpolating between outcrops.

  2. 2. Help identify structures. Faults will juxtapose units of different magnetic susceptibilities beside each other and fluids traveling along faults will commonly destroy magnetite. Faults can be inferred from magnetic data by linear discontinuities and lows. Interpreted structures will probably be important in controlling the emplacement and subsequent displacement of the deposit.

The magnetic survey will have an additional, more direct, use in porphyry exploration. The addition of magnetite may be an important constituent of the potassic alteration zone in the core of a porphyry system. This is certainly the case with the Babine porphyry deposits (the target at Jacobite) where the Cu-Au deposits are hosted by magnetite-bearing potassic alteration. An historic ground magnetic survey on the Jacobite property showed a secondary magnetic high over an area with anomalous Cu-Mo that was noted in a 2018 soil sampling program, suggesting that it represents magnetite-bearing potassic alteration. Harvest Gold can only speculate whether potassic alteration would be magnetite-bearing in a hypothetical Emerson porphyry, but a magnetic survey would help answer that question and might lead directly to a porphyry center.

Qualified Person Statement

The disclosure of technical or scientific information in this press release has been reviewed and approved by Warren Bates, P.Geo. Director of Property Investigations for Harvest Gold. Mr. Bates serves as a Qualified Person under the definition of National Instrument 43-101.

About Harvest Gold

Harvest Gold is focused on the Interior Plateau of British Columbia exploring for near surface Gold deposits and Copper Gold Porphyry deposits. Harvest's Board of Directors, management team and technical advisors have collective geological and financing experience exceeding 400 years.

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
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 Corporation (the "Company") 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.

This news release includes technical information that was generated prior to the introduction of National Instrument 43-101. Details of the sampling methods, handling, and quality control methods used in the generation of this historical technical data are unknown to Harvest Gold, and the drill material, assay results, true width of intercepts herein cannot be and have not been verified by the Company's Qualified Person for the purposes of National Instrument 43-101.

A number of mineral resources or significant occurrences disclosed herein relate to nearby properties owned by other companies, and the data presented have been extracted from these companies' press releases and websites. A Qualified Person has been unable to verify this information from the adjacent properties, and such results are not necessarily indicative of potential quantities or grades of mineralization on the Company's properties.

Relating to exploration, the identification of exploration targets and any implied future investigation of such targets on the basis of specific geological, geochemical and geophysical evidence or trends are future-looking and subject to a variety of possible outcomes which may or may not include the discovery, or extension, or termination of mineralization. Further, areas around known mineralized intersections or surface showings may be marked by wording such as "open", "untested", "possible extension" or "exploration potential" or by symbols such as "?". Such wording or symbols should not be construed as a certainty that mineralization continues or that the character of mineralization (e.g. grade or thickness) will remain consistent from a known and measured data point. The key risks related to exploration in general are that chances of identifying economical reserves are extremely small.

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.