Harte Gold Corp.

Harte Gold Corp.

December 23, 2009 16:49 ET

Harte Completes $651,334 Private Placement

TORONTO, ONTARIO--(Marketwire - Dec. 23, 2009) - HARTE GOLD CORP. ("Harte") (TSX VENTURE:HRT)(FRANKFURT:H4O) announces that pursuant to a non-brokered private placement of up to 5,000,000 common shares and 7,142,857 flow-through common shares, Harte has to date closed on 4,000,000 common shares for gross proceeds of $200,000 and 6,447,624 flow-through common shares for gross proceeds of $451,334 under a non-brokered private placement. Common shares are priced at $0.05 and the flow-through common shares are priced at $0.07.

Proceeds from the private placement will be used to fund the next phase of diamond drilling expected to commence this winter on the Sugar Zone Project and general corporate purposes. The Sugar Zone Property is located in the Hemlo area of northern Ontario and is held under a joint venture with Corona Gold Corporation.

Harte paid a Finder's Fee in the amount of $11,780 cash and 87,260 compensation warrants for a number of the placements; each compensation warrant is exercisable into one common share on payment of $0.10 until June 23, 2011. Securities issued under the private placement are subject to a hold period ending April 24, 2010.

About Harte Gold Corp.

Harte Gold Corp. is a Canadian gold exploration company with interests in the Sugar Zone and Stoughton-Abitibi properties located in Ontario, Canada. The Sugar Zone Property is located 60 kilometres east of the Hemlo Gold Camp and holds an NI 43-101 compliant inferred resource of 904,400 tonnes grading 9.75 g/t Au for 283,500 ounces of contained gold. Corona Gold Corporation is a 51% partner on the Sugar Zone and is the project operator. The Stoughton-Abitibi property is located on and adjacent to the Destor-Porcupine Fault in close proximity to the 2.5 million gold ounce Holloway-Holt Mine in the Timmins Porcupine gold camp.

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.

Contact Information

  • Harte Gold Corp.
    Mr. Stephen G. Roman