Homestake Resource Corporation
TSX VENTURE : HSR
FRANKFURT : B6IH

Homestake Resource Corporation

October 24, 2014 18:52 ET

Homestake Reports on Corporate Matters

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 24, 2014) - Homestake Resource Corporation (TSX VENTURE:HSR)(FRANKFURT:B6IH) ("Homestake" or the "Company") reported that the shareholders have approved a Shareholder Right Plan at its annual general meeting held on October 22, 2014. The Shareholder Rights Plan was adopted to ensure the fair treatment of all Homestake shareholders in the event of an unsolicited take-over bid for the outstanding common shares of Homestake. In the event that a take-over bid should occur, the Shareholder Rights Plan provides a mechanism to ensure that shareholders have adequate time to properly evaluate and assess it without facing undue pressure or coercion. The Shareholder Rights Plan also provides the board of directors with additional time to consider any take-over bid and, if applicable, to explore alternative transactions in order to maximize shareholder value. Accordingly, the Shareholder Rights Plan is not designed to prevent take-over bids that treat the Company's shareholders fairly. A copy of the Shareholder Rights Plan Agreement will be available under Homestake's profile on SEDAR at www.sedar.com. Reference should be made to the full text of the plan for the details of its provisions. The Shareholder Rights Plan has received TSX Venture Exchange acceptance.

The shareholders also approved Homestake's rolling incentive stock option plan pursuant to which a maximum of 10% of the issued shares will be reserved for issuance under the plan. The plan is subject to TSX Venture Exchange acceptance. In addition, Smythe Ratcliffe LLP, Chartered Accountants were reappointed as Homestake's auditors.

The following directors were re-elected at the Company's annual general meeting: Joseph A. Kizis, Jr., Lawrence Page, Q.C., Stephen Beardslee, Declan Costelloe and Jeffrey Tindale. Subsequent to the shareholder meeting, the directors re-appointed Joseph A. Kizis, Jr. as President, Lawrence Page, Q.C. as Chairman and Secretary, Robert Macdonald as Vice President Exploration and Graham Thatcher as Chief Financial Officer.

On behalf of the Board of Directors,

Joseph Anthony Kizis, Jr.

President & Director

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.

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