TORONTO, June 01, 2018 (GLOBE NEWSWIRE) -- HARTE GOLD CORP. (“Harte Gold” or the “Company”) (TSX:HRT) (OTC:HRTFF) (Frankfurt:H4O) announces it has closed the US$70 million debt financing package with Sprott Private Resource Lending (Collector), L.P. (“Sprott”) and Appian Natural Resources Fund (“Appian”). For further details on the financing, please see the press release dated May 3, 2018.

Proceeds from the financing will be used to complete construction of the Sugar Zone Project and to fund working capital in support of commercial production.  Harte Gold has issued 14 million common share purchase warrants, exercisable at $0.49 to $0.51 per common share, for a period of five years from the date of issuance.

The loan agreement with Appian is a “related party transaction” as defined in Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the financing in reliance on sections 5.5(a) and 5.7(a), respectively, of MI 61-101, as the fair market value of the transaction will not exceed 25% of the Company’s market capitalization calculated in accordance with MI 61-101.

About Harte Gold Corp.
Harte Gold Corp. is focused on the exploration and development of its 100% owned Sugar Zone Property where it has recently completed a 70,000 tonne Advanced Exploration Bulk Sample at the Sugar Zone Deposit and mined 30,000 tonnes under its Phase I Commercial Production Permit. The Sugar Zone Property is located 80 kilometers east of the Hemlo Gold Camp. Using a 3 g/t Au cut-off, the Mineral Resource Estimate dated February 15, 2018 contains an Indicated Mineral Resource Estimate of 2,607,000 tonnes grading 8.52 g/t for 714,200 ounces of contained gold and an Inferred Mineral Resource Estimate of 3,590,000 tonnes, grading 6.59 g/t for 760,800 ounces of contained gold. Harte Gold also holds the Stoughton-Abitibi property located on the Destor-Porcupine Fault Zone, east of Timmins, Ontario, and adjacent to the Holloway Gold Mine.

For further information, please contact:
Stephen G. Roman                                                                                          
President and CEO                                                                                          
Tel: 416-368-0999                                                                                             
Email: [email protected]                                                                           

Shawn Howarth
Vice President, Corporate Development
Tel: 416-368-0999
E-mail: [email protected]

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.