Harte Gold Signs US$6M Term Sheet and Milling Agreement

HarteGold-logoHARTE GOLD CORP. (“Harte Gold”) (TSX: HRT/FSE: H4O/OTC: HRTFF) is pleased to announce a number of recently completed key milestones in support of Harte Gold’s 70,000 tonne Advanced Exploration and Bulk Sampling Program (AEBSP) on the Company’s 100% owned Sugar Zone Gold Deposit located north-east of White River, Ontario.

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Highlights – Advanced Exploration and Bulk Sampling Program

  • An indicative Term Sheet has been signed with Auramet International LLC for a gold loan of up to US $6,000,000 together with a working capital facility; both of which are subject to due diligence, credit review and legal documentation. Due diligence will begin shortly with a final Agreement expected to be signed by the end of August
  • Letter of Intent has been signed with Barrick Gold Corporation to process the 70,000 tonne Sugar Zone Bulk Sample at the nearby Hemlo Mill with the final Agreement expected to be signed by the end of August
  • Roadworks to the Portal site on schedule for completion by the end of July
  • Initial blasting of the portal location will be initiated in July with collaring in August
  • Heads of Agreement for a Fixed Price mining contract has been signed with Technica Mining, final Agreement expected to be signed by the end of July
  • Optimized mine plan will accelerate the AEBSP production schedule and shorten project timelines.

Harte Gold Corp. is a Canadian gold exploration company with interests in the Sugar Zone and Stoughton-Abitibi properties located in Ontario, Canada.  The Sugar Zone Property is located 60 kilometres east of the Hemlo Gold Camp and holds an NI 43-101 compliant Indicated Resource of 980,900 tonnes, grading 10.13 g/t for 319,280 ounces of contained gold (uncapped) and grading 8.72 g/t Au for 274,970 ounces of contained gold (capped) and an Inferred Resource of 580,500 tonnes, grading 8.36 g/t Au for 155,960 ounces of contained gold (uncapped) and grading 7.03 g/t Au for 131,280 ounces of contained gold (capped).  Harte holds a 100% interest in the Sugar Zone Property and also holds the Stoughton-Abitibi property located on and adjacent to the Destor-Porcupine Fault Zone in close proximity to the 2.5 million ounce Holt-Holloway Gold Mine in the Timmins, Ontario Porcupine gold camp.

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