Mr. Rick Mark of Harvest Gold reports

HARVEST GOLD OPTIONS 100% OF THE URBAN BARRY PROPERTY IN THE ABITIBI REGION OF QUEBEC

Harvest Gold Corp. has entered into an option agreement with EGR Exploration Ltd. to acquire 100 per cent of the Urban Barry property in the Ralleau and Wilson townships in the Eeyou Istchee James Bay/Abitibi region of Quebec. The transaction is pending TSX Venture Exchange approval.

The Urban Barry property straddles the southern margin of the underexplored Urban Barry greenstone belt which is host to Osisko/Gold Fields' Windfall deposit which, today, holds nearly four million ounces of gold. Urban Barry encompasses an area of 6,789 hectares within 122 claims, covering approximately 19 kilometres of favourable strike in the Urban Barry greenstone belt. The property directly adjoins the large land package of Osisko Mining Inc./Gold Field's (50/50 joint venture) Windfall property, which includes the Windfall deposit (approximately 43 km to the east).

Rick Mark, president and chief executive officer of Harvest Gold, states: "We are pleased to announce our agreement with EGR to earn 100 per cent of a second gold property in the Abitibi region of Quebec. It is close to our recently acquired Mosseau gold project and it sits on the southwest edge of the Urban Barry greenstone belt. One of the many things that attracted us to Urban Barry was the confidence Gold Fields had in this greenstone belt, as indicated in Osisko's May 2, 2023, announcement that said their partner Gold Fields will sole fund expenditures for regional exploration up to a maximum of $75-million. This mining-centric region in Quebec is gaining renewed attention worldwide."

Daniel Rodriguez, CEO and director of EGR, noted: "This is an accretive transaction for EGR shareholders. Harvest Gold, now a Quebec-focused exploration company, will move our Urban Barry property forward. This mining district is heating up with recent transactions, led by the 50/50 JV of Osisko's Windfall property with Gold Fields Ltd. and infrastructure announcements with Hydro-Quebec. Harvest Gold, whose management team is motivated, experienced and very strong, technically is more than capable of making a new discovery in the Abitibi region. We look forward to their success with both their Quebec acquisitions."

Prior work on the Urban Barry property

From November, 2019, to March, 2020, Canadian Energy Materials Corp. (now EGR Exploration) flew an airborne drone magnetic geophysical survey over the Urban Barry property. Results from this survey confirm the presence of the northwest extension of rock units and fault structures hosting the nearby Windfall gold deposit.

The short-term plan

Harvest Gold will fly magnetics over the remainder of the property in the winter ahead of a prospecting, mapping and till sampling program in the late spring designed to determine priority drill targets.

Transaction detail summary

1) Harvest Gold will pay a total of $90,000 in cash payable in three tranches:

• First cash payment of $15,000 upon signing of the option agreement and TSX-V approval;
• Second cash payment of $30,000 on/before July 2, 2024;
• Third cash payment of $45,000 on/before July 2, 2025.

2) Harvest Gold to issue 2.75 million shares in three tranches:

• First share issuance of one million shares upon updated claims status with Ministere des ressources naturelles et des forets;
• Second share issuance of 500,000 shares on Dec. 15, 2024;
• Third share issuance of 250,000 shares on Dec. 15, 2025;
• Final share issuance of one million shares if there is a National Instrument 43-101 inferred resource estimate of one million ounces gold equivalent or greater.

3) EGR will retain a 2-per-cent net smelter return royalty on the Urban Barry property subject to a 1-per-cent (50 per cent of royalty) buyback for $1-million.

4) Harvest Gold will expend $100,000 on the property within one year of the date of TSX-V approval and an additional $200,000 on or before the second anniversary of TSX-V approval of the option agreement.

5) Harvest Gold is to complete two years of work commitments prior to returning any claims.

Qualified person statement

The disclosure of technical or scientific information in this press release has been reviewed and approved by Phillip Terrence Coyle, PGeo (OGQ 2079), for Harvest Gold. Mr. Coyle serves as a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. A number of mineral resources or significant occurrences disclosed herein relate to nearby properties owned by other companies, and the data presented have been extracted from these companies' press releases and websites. A qualified person has been unable to verify this information from the adjacent properties, and such results are not necessarily indicative of potential quantities or grades of mineralization on the company's properties.

About Harvest Gold Corp.

Harvest Gold is focused on exploring for near-surface gold deposits and copper-gold porphyry deposits in politically stable mining jurisdictions. Harvest Gold's board of directors, management team and technical advisers have collective geological and financing experience exceeding 400 years.

Harvest Gold acknowledges that the Urban Barry gold project straddles the Eeyou Istchee-James Bay and Abitibi territories. Harvest Gold is committed to developing positive and mutually beneficial relationships based on respect and transparency with local indigenous communities.

We seek Safe Harbor.