Mr. Rick Mark reports

TSX Venture Exchange APPROVES HARVEST GOLD'S AGREEMENT TO ACQUIRE THE URBAN BARRY PROPERTY IN THE ABITIBI REGION OF QUEBEC

The TSX Venture Exchange has now approved Harvest Gold Corp.'s 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 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.

Rick Mark, president and chief executive officer of Harvest Gold, states: "We are pleased to announce the exchange approval of our second option agreement to own 100 per cent of a substantial gold property in the Abitibi region of Quebec. As shown in Figure 1, Urban Barry is very near our recently approved Mosseau gold project which sits on the SW 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."

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 the Osisko Mining Inc./Gold Field's (50/50 JV (joint venture)) Windfall property, which includes the Windfall deposit (approximately 43 kilometres (km) to the east).

Daniel Rodriguez, chief executive officer and director of EGR, comments: "Harvest Gold is now a Quebec-focused gold exploration company with multiple assets in a great area of Quebec. Harvest Gold can now move forward with its plan to unlock the potential of this underexplored property. The Urban Barry property sits on trend with Osisko/Goldfields Windfall property and previous work interprets the westward extension of the Urban Barry greenstone belt. Our shareholders are excited to see Harvest Gold's progress on the property as they test its geological structures and move towards discovery."

Prior work on the Urban Barry property

From November, 2019, to March, 2020, Canadian Energy Materials Corp. (now EGR Exploration Ltd.) 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 plans to fly magnetics over the property in the spring ahead of a prospecting, mapping and till sampling program in the summer designed to determine priority drill targets.

Transaction detail summary

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

• First cash payment of $15,000 upon signing of the option agreement and exchange 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 will 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 NSR (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 exchange approval and an additional $200,000 on or before the second anniversary of exchange 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.

We seek Safe Harbor.