TORONTO, Dec. 18, 2017 (GLOBE NEWSWIRE) -- HARTE GOLD CORP. (“Harte Gold”) (TSX:HRT) (OTC:HRTFF) (Frankfurt:H4O) is pleased to announce an increase in the size of its previously announced Bought Deal Private Placement financing to include additional flow-through proceeds of $3.8 million for aggregate gross proceeds of $30.8 million (the “Upsized Offering”).  The Upsized Offering consists of an additional 6,720,357 in FT Shares (as defined below) for a total issuance of 63,805,765 common shares of the Company.

The Upsized Offering will consist of two tranches. The first tranche will consist of 55,299,694 Common Shares and will be issued at a price of C$0.47 per Common Share. The second tranche will consist of 8,506,071 common shares of the Company that qualify as "flow-through shares" for the purposes of the Income Tax Act (Canada) ("FT Shares") and will be issued at a price of C$0.56 per FT Share. The Company has granted Cantor Fitzgerald an option to purchase up to an additional 15% of Common Shares and FT Shares in the capital of the Company to be sold pursuant to the Offering, exercisable at any time prior to the Closing Date, for additional gross proceeds of up to approximately C$4.6 million.

The net proceeds raised from the sale of common shares will be used to fund continued development of the Sugar Zone Property including mill construction, an updated resource estimate, NI 43-101 Technical Report and general working capital purposes. Gross proceeds from the sale of FT Shares will be spent on exploration in the Province of Ontario that will qualify as "Canadian Exploration Expenses" ("CEE") and "flow-through mining expenditures" for purposes of the Income Tax Act (Canada) and as "eligible Ontario exploration expenditures" within the meaning of the Taxation Act, 2007 (Ontario).

It is expected that the closing of the Upsized Offering will occur on or about December 22, 2017 and is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the Toronto Stock Exchange and the securities regulatory authorities.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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 received a Phase I Production Permit. The Sugar Zone Property is located 80 kilometres east of the Hemlo Gold Camp. The Preliminary Economic Assessment dated July 12, 2012, contains an Indicated Resource of 980,900 tonnes, grading 10.13 g/t for 319,280 ounces of contained gold (uncapped) and an Inferred Resource of 580,500 tonnes, grading 8.36 g/t Au for 155,960 ounces of contained gold (uncapped). The mineral resource was prepared in compliance with National Instrument 43-101 guidelines. Harte Gold also holds the Stoughton-Abitibi property located on the Destor-Porcupine Fault Zone adjacent and on strike of the Holloway Gold Mine.

For further information, please contact:

Stephen G. Roman                                                                                
President and CEO                                                                
Tel: 416-368-0999                                                                   
Email: [email protected]                                                  

Shawn Howarth
VP 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.