First Phase Drill Program At Rosebud Mine

VANCOUVER, BC - Harvest Gold Corporation reported gold and silver assay results from the first five reverse circulation drill holes, HGR-1 through HGR-5, completed during the Company's first phase drill program at its Rosebud Mine property in Pershing County, Nevada. The drill program has been completed with twelve reverse circulation drill holes totaling 4,574 metres (15,005 feet).

Greg Hill, President said, "Results from these early holes demonstrate that significant zones of mineralization remain undiscovered at the Rosebud Mine. We are very pleased to have drilled two important zones of mineralization in the first five holes. The first is a gold intercept in HGR-5, reported below. It is near surface, has substantial thickness and extends the bulk tonnage halo to the south. It is open to the north, east, south and at depth in a sparsely drilled area approximately 100 metres south of the nearest underground mine workings. The second is a high grade silver zone in HGR-. It is in one of our unconformity targets and is open to the north, east, and at depth." Mineralization intersected in HGR-5 occurs in a sparsely drilled area within Chocolate formation volcanic flows and begins at approximately 97 metres (320 feet) downhole. This mineralized zone is open to the north, east, south, and at depth and extends toward mineralization intersected in historic drill holes approximately 150 metres (500 feet) to the west. Mineralization may also extend toward the Far East Zone, approximately 250 metres (800 feet) to the east. The intercept, characterized by quartz vein and stockwork material, was drilled to the northeast of the North Zone, approximately 30 metres (100 feet) from the nearest underground mined workings. The highest silver values encountered in HGR-3 are among the richest ever drilled at Rosebud, ranking in the top one percent of all previous Rosebud silver intercepts. Mineralization is open to the north, to the east, and at depth. This mineralization occurs at, and below, the unconformity between Tertiary volcanics and Triassic-Jurassic phyllites. It confirms the presence of high-grade mineralization within, and near, the unconformity, which is largely untested by previous drilling. The Rosebud property is an advanced exploration project consisting of 54 unpatented mining claims centered on the former Rosebud underground mine, which produced nearly 400,000 oz gold and 2,300,000 oz silver between 1997 and 2000. The underground operation mined three high-grade ore zones, with an average production grade of 0.416 oz Au/t, 2.42 oz Ag/t. Due to falling gold prices, the cut-off grade was increased from 0.15 oz Au/t to 0.18 oz Au/ton over the life of the mine, and mineralized material below the cutoff was not mined. An in-place, non-43-101-compliant Measured and Indicated Global resource of 242,000 oz Au, 2,130,000 oz Ag (6.81 million t @ 0.036 oz Au/t, 0.31 oz Ag/t), was calculated by Hecla at the close of mining in 2000. The company's address is 260 West Esplanade, North Vancouver, BC V7M 3G7, 604-986-2020, fax: 604-986-2021.