Harte Gold Provides Corporate Update and Announces Results from Annual and Special Meeting of Shareholders

TORONTO, June 24, 2020 (GLOBE NEWSWIRE) -- HARTE GOLD CORP. (“Harte Gold” or the “Company”) (TSX: HRT / OTC: HRTFF / Frankfurt: H4O) is pleased to announce that it held its annual and special meeting of shareholders earlier today (the “AGM”).  At the AGM, management of the Company provided a corporate update, the highlights of which included, among others:

• Mine Restart – The Company has completed a detailed restart and 18-month operating plan for the Sugar Zone Mine, which will see the mine return to 800 tpd by the end of the year. In the meantime, the care and maintenance teams continue to keep the mine in good stead for recommencement of operations.
  
  
• Transition to Owner-Operator – Steps are being taken to transition to owner-operator mining concurrently with a restart of the Sugar Zone Mine.  Discussions are underway with the Company’s mining contractor to support transition.  The Company anticipates a transition period of approximately three months after restart.
  
  
• Equipment Financing – The Company is in term sheet discussions to obtain equipment financing to purchase the mine fleet.
  
  
• Ore Quality Management – Grade control practices are being improved to better manage ore recovery and grade, once mining resumes.
  
  
• Expansion Study – The Company is exploring an expansion scenario to increase mine and mill throughput by 50%, from 800 tpd to 1,200 tpd.  Previous studies determined that the Sugar Zone Mine could support 1,200 tpd based on the current Mineral Resource Estimate (see press release dated April 8, 2019). The Feasibility Study RFP process is approximately 90% complete and an independent mining engineer has been engaged to assist with optimization, mine planning and scheduling. The Company expects to deliver a Feasibility Study in the fourth quarter of this year.
  
  
• BNP Debt – The Company is working with its senior lender BNP Paribas on the re-sculpting of its debt and is targeting a full solution in the fourth quarter of this year.
  
  
• Renewed Exploration Strategy – Desktop work over the past two months has allowed the Company to revamp its exploration program with the goal of expanding near mine mineralization and developing regional targets to become future sources of mill feed.  The Company is evaluating its high priority targets and summer exploration will commence on resumption of operations.