EDITOR: | July 29th, 2020

Harte Gold Provides Operations Update

| July 29, 2020 | No Comments
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July 29, 2020 (Source) – HARTE GOLD CORP. (“Harte Gold” or the “Company“) (TSX: HRT) (OTC: HRTFF) (Frankfurt: H4O) is pleased to provide the following operational update on its Sugar Zone mine in Ontario, Canada:

Highlights:

  • Mine Restarted: All mine activities have commenced at the Sugar Zone mine. The Company is ahead on all key mining metrics, supporting the planned mill start-up scheduled for early August.
    • Backfill, waste and ore development are meeting or exceeding expectations.
    • Longhole blasting and ore haulage rates are improving daily.
    • A significant stockpile has been built-up to feed the mill on restart.
  •  2020E and 2021E production guidance reiterated:
    • 2020E annual gold production guidance of 20,000 – 24,000 ounces.
    • 2021E annual gold production of 60,000 – 65,000 ounces.
  • Transition to Owner-Operator proceeding as planned: Transition to owner-operator is progressing smoothly. Significant interest has been received from mine contractors looking to transition to full-time Harte Gold employees and potential new hires, with over 1,000 resumes received to-date.
  • 1,200 tpd Feasibility Study underway: The Company is exploring an expansion of the Sugar Zone Mine to 1,200 tpd throughput rate to maximize value and cash-generative potential of the current resource.  Work scopes for the study have gone out to tender and engineers have been identified. The Feasibility Study is expected in Q4 2020.

Harte Gold’s Near-term Growth Profile

Target Year

Mining Areas

Target Throughput

Target Production

2020

Sugar Zone

Ramping towards 800 tpd

20,000 to 24,000 oz Au

2021

Sugar Zone

800 tpd

60,000 to 65,000 oz Au

2022+

Sugar + Middle Zone

1,200 tpd

To be determined

  • Grade Control: Ore definition and extension drilling has started at Sugar Zone North and South areas with the following objectives: de-risk planning, improve ore body geometry definition and target potential upside. The Company has budgeted for 16,000 metres of ore definition and extension drilling for this year.
  • Near-Mine Exploration: Near-mine drilling is expected to start in August with the focus on extending near-mine mineralization along strike at the Sugar Zone South and Wolf Zone areas and testing parallel structures and geophysical anomalies.  Further details to be provided once the drilling program commences.

Sam Coetzer, President and CEO of Harte Gold commented:

“During my visit to the Sugar Zone mine earlier this week, I was encouraged by the focus and commitment of the team to effect a positive restart.  The underground team is highly motivated to achieve its goals and the processing team is eager to turn on the mill, which is expected to occur next week.

Mine management is also well underway to deliver a seamless transition to owner-operator, which is expected to be completed over the next few months.  Further updates will be provided to the market as this work progresses.”

ABOUT HARTE GOLD CORP.

Harte Gold holds a 100% interest in the Sugar Zone Mine located in White River, Canada. The Sugar Zone Mine entered commercial production in 2019.  Stated production guidance is 20,000 to 24,000 oz Au for 2020 and 60,000 to 65,000 oz Au for 2021.  The Company has further potential through exploration at the Sugar Zone Property, which encompasses 79,335 hectares covering a significant greenstone belt. Harte Gold trades on the TSX under the symbol “HRT”, on the OTC under the symbol “HRTFF” and on the Frankfurt Exchange under the symbol “H4O”.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

This news release includes “forward-looking statements”, within the meaning of applicable securities legislation and include, but are not limited to, statements and information regarding the planned mill start-up in early August; 2020 annual gold production of 20,000 to 24,000 ounces and 2021 annual gold production of 60,000 to 65,000 ounces; the delivery of a 1,200 tpd Feasibility Study in Q4 2020; near mine drilling starting in August with further details being provided once the drilling program commences; and further potential through exploration at the Sugar Zone Property. Forward-looking statements are based on the opinions and estimates of management and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.  Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “budget”, “plan”, “continue”, “estimate”, “expect”, “forecast”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and similar words suggesting future outcomes or statements regarding an outlook.  Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information.

Such risks and uncertainties include, but are not limited to, there being no events of default or breaches of key financing agreements, including agreements with BNP Paribas and Appian; the Company being able to attract and retain qualified candidates to join the Company’s management team and board of directors, risks associated with the mining industry, including operational risks in exploration, development and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections in relation to production, costs and expenses; the uncertainty surrounding the ability of the Company to obtain all permits, agreements, consents or authorizations required for its operations and activities; and health, safety and environmental risks, the risk of commodity price and foreign exchange rate fluctuations, the ability of Harte Gold to fund the capital and operating expenses necessary to achieve the business objectives of Harte Gold, the uncertainty associated with commercial negotiations and negotiating with contractors and other parties and risks associated with international business activities and the impact of any escalation in the severity of the COVID-19 pandemic on any of the foregoing, as well as other risks and uncertainties which are more fully described in the Company’s Annual Information Form dated March 25, 2020, and in other filings of the Company with securities and regulatory authorities which are available on SEDAR at www.sedar.com.

Due to the risks, uncertainties and assumptions inherent in forward-looking statements, prospective investors in securities of the Company should not place undue reliance on these forward-looking statements.

Readers are cautioned that the foregoing list of risks, uncertainties and other factors are not exhaustive.  The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or in any other documents filed with Canadian securities regulatory authorities, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. The forward-looking statements are expressly qualified by this cautionary statement.


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