Mr. Rick Mark reports

HARVEST GOLD ANNOUNCES CLOSING OF FLOW-THROUGH PRIVATE PLACEMENT

Subject to the approval of the TSX Venture Exchange, Harvest Gold Corp. has closed its non-brokered private placement issuing 11,076,000 flow-through units at a price of 12.5 cents per FT unit for aggregate gross proceeds of $1,384,500.

Each FT unit consists of one flow-through common share and one-half of one common share purchase warrant with each whole warrant exercisable at a price of 20 cents per share for a period of two years, provided that if the closing price of the company's shares on the exchange (or such other exchange on which the company's shares may become traded) is 40 cents or greater per share during any 15 non-consecutive trading day period after June 1, 2022, the warrants will expire at 4 p.m. PT on the 30th day after the date on which the company provides notice of such accelerated expiry to the holders of the warrants (the accelerated expiry provisions).

The company paid finders' fees of $50,550, 555,600 finders' warrants and 151,200 shares to Haywood Securities Inc., Canaccord Genuity Corp., PI Financial Corp., Accilent Capital Management Inc., Echelon Wealth Partners Inc. and Sightline Wealth Management LP. The finders' warrants are non-transferable and exercisable at a price of 20 cents per share for a period of two years, subject to the accelerated expiry provisions.

All securities issued in the private placement will be subject to the exchange hold period, plus a hold period of four months and one day following the closing date of the private placement.

Richard J. Mark, president, chief executive officer and a director of the company, subscribed for 200,000 FT units, Christopher P. Cherry, chief financial officer and a director of the company, subscribed for 200,000 FT units, Len Brownlie, a director of the company, subscribed for 40,000 FT units, Joel Matheson, a director of the company, subscribed for 40,000 FT units, Patrick Donnelly, a director of the company, subscribed for 16,000 FT units and Jan Urata, corporate secretary of the company, subscribed for 80,000 FT units.

As such, their participation constitutes a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the FT units acquired by the insiders, nor the consideration for the FT units paid by such insiders, exceed 25 per cent of the company's market capitalization.

The company intends to use the gross proceeds of the private placement for its first drill program at Emerson, a 2-D IP program at Jacobite and ancillary exploration expenses in 2022.

About Harvest Gold Corp.

Harvest Gold is focused on the Interior plateau of British Columbia, exploring for near-surface gold deposits and copper-gold porphyry deposits. 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 Emerson and Goathorn projects are situated in the traditional territory of the Wet'suet'en Nation while the Jacobite project is situated in the traditional territory of the Lake Babine Nation. Harvest Gold is committed to developing positive and mutually beneficial relationships based on respect and transparency with local indigenous communities.

We seek Safe Harbor.