Harvest Gold Corporation
TSX VENTURE : HVG

Harvest Gold Corporation

September 27, 2007 16:57 ET

Harvest Gold Announces Option Agreement With Kuran for the Vena Mining Claims, Manitoba

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 27, 2007) - Harvest Gold Corporation (TSX VENTURE:HVG) September 27, 2007 (the "Company") is pleased to announce it has entered into an option agreement dated June 8, 2007 (the "Property Option Agreement") with William Kuran (the "Optionor") concerning the acquisition of all of the Optionor's right, title and interest (the "Interest") in and to certain mineral claims located in the Province of Manitoba and referred to as the Vena Mining Claims. Pursuant to the terms and conditions set forth in the Property Option Agreement, the Company will pay $12,500 and issue an aggregate of 150,000 common shares in the capital stock of the Company to the Optionor by June 10, 2009. The Company will be required to complete the minimum annual exploration work expenditures in order to maintain the property in good standing. The Property Option Agreement is subject to approval by the TSX Venture Exchange.

This property (the Vena Property) consists of the Vena and Cliff mining claims that are contiguous to the claims that comprise the Company's Lesavage South property where the Company has been undertaking geological mapping and sampling this summer. The geological setting and structures on both properties are similar. There are a number of gold occurrences on other properties adjacent to the Lesavage North and Vena properties.

The Company shall have the right to repurchase up to one half of the Net Smelter Royalty ("NSR") (being 2% of Net Smelter Returns) for a purchase price of $1,000,000.

Harvest Gold Corporation is a gold focused exploration company working in Nevada, USA and Manitoba, Canada. In Nevada, the Company is exploring a large generative gold property at Garcia Flats in the South Carlin Trend, an advanced property with a gold-silver resource at the Longstreet Mine, in Northern Nye County, and the Rosebud Mine Project, a past producing mine in northwest Nevada. Harvest is also exploring claims in Manitoba, Canada at the Rice Lake Gold Belt, the Rocky Ridge Gold property in the Lac du Bonnet mining district, and is Joint Ventured with Canadian Gold Hunter Corp. (TSX:CGH) at the Assean Lake Gold Project.

ON BEHALF OF THE BOARD OF DIRECTORS

Rick Mark, CEO & Chairman

The TSX Venture Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Harvest Gold Corporation
    Keith Patey
    Director of Communications
    (604) 986-2020 or Toll Free: 1-866-816-0118
    (604) 986-2021 (FAX)
    Website: www.harvestgoldcorp.com
    or
    First Canadian Capital Corp.
    Dan Boase
    (416) 742-5600 ext. 232 or Toll Free: 1-866-580-8891
    Email: dboase@firstcanadiancapital.com