Homestake Resource Corporation

Drilling to Commence in Early July at Homestake Ridge

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 4, 2014) - Homestake Resource Corporation (TSX VENTURE:HSR)(FRANKFURT:B6IH) ("Homestake" or "the Company") has received notice from Agnico Eagle Mines Limited ("Agnico Eagle") of its plans for a $3 million exploration program in 2014 at the Company's Homestake Ridge property in northwestern British Columbia. The program is expected to include +7,500 meters of core drilling, with camp construction to begin the second week in June and drilling to commence in early July.

The 2014 exploration program will start on a potential new mineralized zone called the Slide target, first identified in 2013 and located southeast of the Homestake Silver deposit (see news release NR-10-13, November 26, 2013). Drill holes of the 2014 program will test areas on strike to the southeast and down dip of hole HR13-253, which as reported in NR-10-13 contains a 18.6 metre interval averaging 101g/t silver, including a 0.5 metre interval averaging 1,675g/t silver from 364.4 to 383.0 metres down hole (the true thickness has not been determined yet).

Further drilling is also anticipated to test lateral extensions of the South Reef deposit, potential depth extensions of the Main Homestake and Homestake Silver deposits and up to two holes to test "Eskay-equivalent" stratigraphy in the upper Hazelton Group exposed to the east and south of the Homestake Silver deposit.

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/hsr0604fig1.pdf.

Vice President of Exploration Rob Macdonald commented, "The high-grade silver intercept in hole -253 is very important. Of the 262 holes drilled at Homestake Ridge since 2003, only 30 holes contain intervals greater than 500g/t Ag. Twenty eight of these holes occur within the Main Homestake or Homestake Silver deposits, one hole lies between these two deposits, and the remaining hole is HS13-253. Geochemistry from the few existing nearby drill holes also suggests that hole -253 is on the edge of the next high-grade gold/silver deposit at Homestake Ridge. This type of mineralization typically forms as discrete mineral deposits, often along important structures, that together can form multi-million ounce mining camps."