Harte Gold Corp.
FRANKFURT : H4O
TSX : HRT

Harte Gold Corp.

July 16, 2015 07:00 ET

Harte Gold Signs US$6M Term Sheet and Milling Agreement

TORONTO, ONTARIO--(Marketwired - July 16, 2015) - HARTE GOLD CORP. ("Harte Gold") (TSX:HRT)(FRANKFURT:H4O)(OTC:HRTFF) is pleased to announce a number of recently completed key milestones in support of Harte Gold's 70,000 tonne Advanced Exploration and Bulk Sampling Program (AEBSP) on the Company's 100% owned Sugar Zone Gold Deposit located north-east of White River, Ontario.

Highlights - Advanced Exploration and Bulk Sampling Program

  • An indicative Term Sheet has been signed with Auramet International LLC for a gold loan of up to US $6,000,000 together with a working capital facility; both of which are subject to due diligence, credit review and legal documentation. Due diligence will begin shortly with a final Agreement expected to be signed by the end of August
  • Letter of Intent has been signed with Barrick Gold Corporation to process the 70,000 tonne Sugar Zone Bulk Sample at the nearby Hemlo Mill with the final Agreement expected to be signed by the end of August
  • Roadworks to the Portal site on schedule for completion by the end of July
  • Initial blasting of the portal location will be initiated in July with collaring in August
  • Heads of Agreement for a Fixed Price mining contract has been signed with Technica Mining, final Agreement expected to be signed by the end of July
  • Optimized mine plan will accelerate the AEBSP production schedule and shorten project timelines.

Exploration Update - Sugar Zone Property

The 2015 regional exploration program began July 2, 2015 and is focused on defining the extent of the recently discovered "Contact Zone" running to the north and north-west of Lake Dayohessarah. The Contact Zone consists of a sericite schist and mafic volcanic contact and holds the potential to host Hemlo style mineralization.

Exploration Update - Stoughton Abitibi Property

Harte Gold has received permit approval for a >20 hole exploration drill program which is designed to test potential extensions of "Smoke Deep" discovery gold mineralization at the neighboring St. Andrew Goldfields Holt Holloway property.

About Harte Gold Corp.

Harte Gold Corp. is focused on the exploration and development of its 100% owned Sugar Zone property and is currently permitting an advanced exploration program for the Sugar Zone Deposit. The Sugar Zone property is located 60 kilometers east of the Hemlo Gold Camp and as per the Preliminary Economic Assessment dated July 12, 2012 contains an Indicated Resource of 980,900 tonnes, grading 10.13 g/t for 319,280 ounces of contained gold (uncapped) and an Inferred Resource of 580,500 tonnes, grading 8.36 g/t Au for 155,960 ounces of contained gold (uncapped). The mineral resource was prepared in compliance with NI 43-101. George A. Flach P. Geo, Vice President Exploration is the Qualified Person for Harte Gold. Harte Gold also holds the Stoughton-Abitibi property located on the Destor-Porcupine Fault Zone which is directly adjacent to and on strike of St. Andrew Goldfield's Holloway Gold Mine and its high grade "Smoke Deep Discovery" in the Timmins, Ontario Porcupine gold camp.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Common Shares Outstanding: 257,240,532

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