Harvest Gold Corporation
TSX VENTURE : HVG

Harvest Gold Corporation

May 05, 2011 13:41 ET

Harvest Gold Announces Plans for Its Cud Claim Property Located Adjacent to San Gold's #2-3 Zone in Rice Lake Goldbelt, Manitoba

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 5, 2011) - Harvest Gold Corporation (TSX VENTURE:HVG) (the "Company") is pleased to announce that it has signed contracts for line cutting and geophysical surveying of its 100% owned CUD property. The program is designed to investigate and drill test the Cud Claim property located adjacent to San Gold Corporation's #2-3 Zone, near Bissett, Manitoba.

The first phase of the program will consist of 10 kilometers of line cutting and ground magnetic geophysical surveys and is expected to take 2-3 weeks to complete. This work will prepare the property for an Induced Polarization survey, geological mapping, geochemical surveys and other prospecting methods all of which will be used in the prioritization of potential drill targets.

Based on technical reports available in Manitoba Government assessment files and on San Gold's website, San Gold drilled 16 diamond holes in 2005 located between 40 m and 180 m of the Company's CUD claims' southern and western boundary. This boundary is shared with San Gold claims San 1 and Jade 2. The 16 holes were drilled in a south-southwest direction to intersect a north plunging zone of gold mineralization.

The Company's CUD Claim may cover the down dip extent of this mineralized zone and also may host separate mineralized structures as those which host the gold mineralization on the neighboring San Gold claims. The San Gold drill holes are close to the Cud claim boundary indicating the mineralization may continue onto Harvest Gold's claims at depth. Available drill hole information is being modeled to determine the best sites to test for the continuation of gold mineralization and additional mineralized zones on Harvest's CUD3 claim. Drill intercept highlights reported by San Gold from the 2005 drill program include 19.5 feet assaying 0.51 ounce per tonne gold in hole SG-05-47, 21 feet assaying 0.21 ounce per tonne gold in hole SG-05-51 and 8.9 feet assaying 0.33 ounce per tonne gold in hole SG-05-39.

The Cud3 claim property is located 7 km from the gold mining community of Bissett, Manitoba where San Gold Resources Corporation is operating two mines and a mill.

Greg Hill, Certified Professional Geologist, is the Qualified Person who has reviewed the contents of this news release.

Harvest Gold Corporation is a mineral exploration company working in Nevada, USA and Manitoba, Canada. In Nevada, the Company controls 100% interests in the advanced-stage Rosebud Gold Mine property, and generative gold properties at Garcia Flats in the South Carlin Trend and the RW property in the southern Battle Mountain - Eureka Trend. In Manitoba, Harvest is engaged in early-stage exploration of three groups of 100% owned claims in the Rice Lake Gold Belt and holds a 40% interest in the more advanced-stage, Assean Lake project.

This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, uncertainties of resource and reserve estimations, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. Fluctuations in metals prices, availability of financing, and general business conditions are all factors that could cause actual results to vary materially from forward-looking statements.

On behalf of the Board of Directors,

John Roozendaal, President

Harvest Gold Corporation

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

  • Harvest Gold Corporation
    Keith Patey
    Director of Communications
    (604) 986-2020 or Toll Free: 1-866-816-0118
    (604)-986-2021 (FAX)
    www.harvestgoldcorp.com

    Progressive Investor Relations
    Andrew Mugridge
    (604) 689-2881

    Progressive Investor Relations
    Benjamin Curry
    (604) 689-2881