Ms. Liana Shahinian reports

HOMESTAKE RESOURCE PROVIDES CORPORATE UPDATE

Homestake Resource Corp. has released the results of its 2012 annual general meeting held March 14, 2013, where shareholders re-elected Joseph A. Kizis Jr., Lawrence Page, QC, Frederick Sveinson, Stephen Beardslee, Terrence Eyton and Declan Costelloe as directors of the company for the ensuing year. Smythe Ratcliffe LLP was reappointed as auditor of Homestake and the company's rolling stock option plan was approved. The directors subsequently reappointed Joseph A. Kizis Jr. as president, Lawrence P. Page, QC, chairman, Robert MacDonald as vice-president, exploration, Mahesh Liyanage as chief financial officer and Kathleen Jones-Bartels as corporate secretary.

Stock options

The company reports that it has granted 2.39 million incentive stock options to directors, officers, employees and consultants, each exercisable at 13 cents per share and for a period of five years.

In addition, the company intends to reprice the exercise price in existing option agreements with consultants and employees in the aggregate amount of 442,500 options at the price of 13 cents per share.

The granting and repricing of the stock options are subject to the approval of regulatory authorities.

We seek Safe Harbor.