Mr. Joseph Kizis reports

HOMESTAKE REPORTS ON CORPORATE MATTERS

Homestake Resource Corp.'s shareholders have approved a shareholder rights plan at its annual general meeting held on Oct. 22, 2014. The shareholder rights plan was adopted to ensure the fair treatment of all Homestake shareholders in the event of an unsolicited takeover bid for the outstanding common shares of Homestake. In the event that a takeover 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 takeover bid and, if applicable, to explore alternative transactions in order to maximize shareholder value. Accordingly, the shareholder rights plan is not designed to prevent takeover 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. 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 per cent 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, was reappointed as Homestake's auditor.

The following directors were re-elected at the company's annual general meeting: Joseph A. Kizis Jr., Lawrence Page (QC), Stephen Beardslee, Declan Costelloe and Jeffrey Tindale. Subsequent to the shareholders meeting, the directors reappointed Mr. Kizis as president, Mr. Page as chairman and secretary, Robert Macdonald as vice-president, exploration, and Graham Thatcher as chief financial officer.