Yesterday’s release regarding our CUD drilling in the Bissett area of Manitoba is disappointing. While we still have potential at depth and other IP anomalies to test, our hope was to intersect mineralization close to surface that would tie us to San Gold’s nearby gold zone.

Harvest Gold continues to search for a partner at our Rosebud Mine project in Nevada. We now see this more likely to be a Joint Venture than an outright sale and we have altered our search parameters accordingly.

We are also attempting to get our Assean Lake property in northern Manitoba active again. The Company, with its JV partner, then known as Canadian Goldhunter, discovered several high grade gold zones on the property, including the Hunt Zone. Approximately $5 million was spent on exploration between 2000 and 2005. Harvest owns 40% and we have begun discussions with NGEx, which owns 60%. The property is a 20 km long parcel of claims that covers a major “crustal break” fault system of the size and scale associated with the major gold camps of the Canadian Shield and the Company believes the property has the potential to host a similar gold camp. Please visit the website (http://harvestgoldcorp.com/Projects/Assean-Lake-Manitoba/default.aspx) to view the information on our Assean Lake property.

We are now doing due diligence on a new package of gold related claims in a known belt in Ontario. We expect to be able to say more about that opportunity in the very near future.

Harvest Gold Reports No Significant Gold Values Intersected in Drill Holes Completed at CUD Property Rice Lake Gold Belt, Manitoba

Vancouver, B.C., April 3, 2012. Harvest Gold Corporation (TSX.V: HVG) (the “Company”)  reports that the sulphide mineralization intersected in drill holes completed this winter drill season on the CUD property, Rice Lake Gold Belt, Manitoba were absent of significant gold mineralization or other metals of economic interest.

John Roozendaal, President of Harvest Gold Corporation, states: “Though we are disappointed that the near surface mineralization encountered was not gold bearing, the potential for deeper targets projected down plunge of the neighboring San Gold #2-3 zones remain untested.”

Logging of Diamond drill core from the program did identify zones of sulphide mineralization associated with high strain shear zones and some alteration that explained the Induced Polarization anomalies, but assays received for those intervals show no enrichment in gold.

Management will review remaining targets on the property before planning follow up exploration on the property.

The CUD Property is located 8 km east of San Gold's operating gold mine in the Town of Bissett, Manitoba. The Cud claim is located immediately north of claims held by San Gold on which their #2-3 gold zones are located.  CLICK HERE TO READ MORE




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