Harte Gold Announces Closing of Private Placement

TORONTO, Nov. 23, 2018 (GLOBE NEWSWIRE) -- HARTE GOLD CORP. (“Harte Gold” or the “Company”) (TSX: HRT / OTC: HRTFF / Frankfurt: H4O) announced it has raised gross proceeds of $1,356,023 and issued 3,228,626 common shares under a non-brokered private placement.

The closing represents an investment by Appian Natural Resources Fund (“Appian”) to maintain its 19.45% interest in the Company subsequent to the Company’s non-brokered private placement of flow through common shares, the final closing of which was announced October 31, 2018. No Finder’s fees are payable in connection with the Appian investment. Proceeds from the private placement will be used for working capital purposes.

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

About Harte Gold Corp.
Harte Gold is Ontario’s newest gold producer through its wholly owned Sugar Zone Mine in White River, Ontario.  Using a 3 g/t gold cut-off, the NI 43-101 compliant Mineral Resource Estimate dated February 15, 2018 contains an Indicated Mineral Resource of 2,607,000 tonnes grading 8.52 g/t for 714,200 ounces contained gold and an Inferred Mineral Resource of 3,590,000 tonnes, grading 6.59 g/t for 760,800 ounces contained gold.  The Company is currently completing a 100,000 metre drill program on near mine and exploration targets, results of which will be incorporated into an updated NI 43-101 compliant Mineral Resource Estimate and mine plan targeted for Q1 2019. Exploration on the Sugar Zone property includes 83,850 hectares encompassing a significant greenstone belt.

About Appian Natural Resources Fund
Appian Natural Resources Fund is a metals and mining private equity fund providing long-term capital to both private and public mining companies. The advisor to Appian Natural Resources Fund, Appian Capital Advisory LLP, is a leading investment advisor in the metals and mining industry, with worldwide experience across South America, North America and Africa and a track record of successfully supporting companies achieve their development targets.

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