Homestake Responds to BCSC Clarification Request

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 3, 2013) - Homestake Resource Corporation (TSX VENTURE:HSR)(FRANKFURT:B6IH) ("Homestake" or "the Company") reported today that as a result of a recent targeted mining disclosure review by the British Columbia Securities Commission ("BCSC"), the Company is issuing this news release to clarify disclosure on its website, Corporate Presentation, and in certain news releases regarding technical disclosure issues therein.

The following Technical Disclosure issues were identified by the BCSC as being non-compliant to NI43-101 and have been addressed by the Company.

Technical Disclosure Issues Identified by the BCSC

Non-Compliant Exploration Targets

In its Corporate Presentation and website the Company disclosed an exploration target for its Illiance River project which included a potential target size (5 million tonnes to 10 million tonnes) without providing the appropriate cautionary language that the target is conceptual and that there has been insufficient exploration to define a mineral resource on the project as per section 2.3 (2) of NI 43-101.

The Company clarifies that the potential quantity and grade of the target is conceptual in nature and that there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration would result in the identification of a mineral resource.

When identifying the target size, the strike-length of the surface mineralization (+2.0km), the grade and thickness of mineralized intercepts from drilling (+5m cumulative thickness) within this strike-length and the spacing of the drill holes were all considered.

Non-Compliant Disclosure of Historical Estimates

In its Corporate Presentation and Website, the company disclosed "historic non NI 43-101 compliant resources" on the neighboring Dolly Varden property without providing the necessary information and cautionary language as required by the national instrument.

The Company notes that this disclosure used incorrect terminology in its reference to a neighboring property. To the Companies knowledge, no qualified person has done sufficient work to classify this Historical Estimate as current Mineral Resources or Reserves and as a result, should not be relied on as such.

The Company has removed references to this historical estimate in its public disclosure.

Non-Compliant Disclosure of Mineral Resources/Reserves