Harvest Gold Acquires 100% Interest in Urban Barry Project

Harvest Gold Corporation has officially acquired 100% interest in its Urban Barry Project in the Quebec Abitibi region, following the completion of its payment obligations under the option agreement with EGR Exploration Ltd. The acquisition was made possible by the successful completion of two key milestones outlined in the option agreement.

First, Harvest Gold paid $90,000 in three tranches. The initial $15,000 was paid upon signing of the Option Agreement and receipt of TSX Venture Exchange (TSXV) approval, while the remaining $75,000 was divided into two payments: $30,000 before July 2, 2024, and $45,000 before July 2, 2025. These payments were made in cash, with $1,750,000 in common shares of the Company issued in three tranches. The first tranche consisted of 1,000,000 Shares issued at $0.03 per Share upon updated claims status with Ministère des ressources naturelles et des forêts, and the second and third tranches were issued at $0.035 per Share on December 15, 2024, and $0.06 per Share on December 15, 2025, respectively.

Total exploration expenditures of $200,000 have been incurred. If there is an NI 43-101 inferred resource estimate of 1,000,000 ounces of gold equivalent (AuEq) or greater on the Urban Barry Property, Harvest Gold will issue an additional 1,000,000 Shares.

EGR Exploration Ltd. will retain a 2.0% net smelter returns royalty on the Urban Barry Property, subject to a 1% (50% of royalty) buyback for $1,000,000. Harvest Gold is required to complete two years of work commitments prior to returning any claims.

The Urban Barry Property is underlain by favorable volcanic and intrusive rock, along with significant structures that are favorable for gold deposits. It is covered by extensive overburden and is located in the Urban Barry greenstone belt, which also hosts Gold Field’s Windfall deposit. Harvest Gold has completed several exploration programs on its 19 km-long Urban Barry Project, which averages 4 km in width. These programs included a high-resolution airborne magnetic survey, a property-wide till survey, along with prospecting and mapping.

Harvest Gold Corporation, a company focused on exploring for near-surface gold deposits and copper-gold porphyry deposits in politically stable mining jurisdictions, has acknowledged that the LaBelle Gold Project straddles the Eeyou Istchee-James Bay and Abitibi territories. The company is committed to developing positive and mutually beneficial relationships based on respect and transparency with local Indigenous communities. Harvest Gold’s three properties, Mosseau, Urban Barry, and LaBelle, together cover over 50 km of favorable strike along mineralized shear zones.

The acquisition of the Urban Barry Property is a significant milestone for Harvest Gold, as it brings the company closer to its goal of developing near-surface gold deposits and copper-gold porphyry deposits in politically stable mining jurisdictions. The acquisition of the Urban Barry Property is expected to provide Harvest Gold with valuable exploration opportunities and further strengthen its position in the region.