New High-Grade Drill Intercept Points to Fourth Mineral Deposit at Homestake Ridge - Seite 2

Drilling also tested a geophysical anomaly adjacent to the Main Homestake Zone, the stratigraphy east of the deposits, the North Dome area, and the stratigraphy to the northwest of the South Reef deposit.

Work by Agnico Eagle also highlighted stratigraphic and metallogenic similarities between the Homestake Ridge project and several other major deposits throughout the Hazelton belt of northwestern British Columbia, including the Dolly Varden Deposit located 8 kilometres to the southeast, Kerr-Sulphurets-Mitchell (64 Moz. Au, 370 Mozs. Ag and 16 Blbs. Cu) and Brucejack projects (14 Mozs. Au and 63 Moz. Ag) located approximately 80 kilometres to the northwest of the property, which are currently being explored and developed by Seabridge Gold and Pretium Resources Inc.

Vice President of Exploration Rob Macdonald noted, "Of 262 holes drilled on the project by Homestake and Agnico Eagle, 31 holes, including currently reported hole HS13-253, contain intervals of bonanza-grade silver mineralization, that being over 500g/t Ag. It is important to note that 29 of these 31 holes occur within the Main Homestake or Homestake Silver deposits, one of these holes lies between those two deposits, and the other hole is HS13-253. That spatial relationship, along with vectors from the few existing nearby drill holes, indicates to us that we are on the edge of the next high-grade gold/silver deposit at Homestake Ridge. These types of deposits typically form as discrete mineral deposits along important structures that together can form multi-million ounce mining camps."

Corporate Update

Homestake Resource Corporation is pleased to announce the appointment of Nazlin Rahemtulla as a director of the Company. Ms. Rahemtulla is an Independent Business Consultant. Previously, she was the Human Resources Manager at Gowling Lafleur Henderson; Chief Operating Officer of Weiler Smith Bowers Consulting Structural Engineers; Vice-President and Chief Operating Officer of The McLean Group; acted as Investment Advisor for RBC Financial Group (RBC Dominion Securities Inc); and served as Manager, International Services for RBC Global Private Banking. Ms. Rahemtulla has a Diploma in Business Administration from St. Godricks College in London, England and earned a Fellowship from the Institute of Canadian Bankers ("FICB").