Harte Gold Announces Positive Feasibility Study



Harte Gold Announces Positive Feasibility Study

Toronto – April 8, 2019 – HARTE GOLD CORP. (“Harte Gold” or the “Company”) (TSX: HRT / OTC: HRTFF / Frankfurt: H4O) is pleased to announce the results of a Feasibility Study (“FS”) for the Company’s 100% owned Sugar Zone Mine (“Sugar Zone”), located in White River Ontario, Canada.

Feasibility Study Highlights

  • Declaration of reserves:9 million tonnes at 7.1 g/t, net of mining dilution of 38%, containing 890,000 ounces of gold
  • “Base case” scenario: 800 tpd operation producing 61,000 ounces annually over a 14 year mine life
    • Generates $30 million annually in net free cash flow at US$1,300/oz gold
    • The mine and mill are operational with no additional construction capital expenditures required
    • Costs well defined based on contracted rates and operating experience: cash cost US$648/oz and all in sustaining cost (“AISC”) of US$851/oz
  • Expansion opportunity: Feasibility Study confirms the mine can deliver 1,200 tpd based on current reserves
    • Increases production to 95,000 ounces annually and reduced cash cost through benefits of scale
  • Other significant value opportunities identified:
    • Conversion of near mine Inferred mineralization will extend mine life and reduce mining development cost per tonne of ore processed
    • Installation of a leach circuit to process flotation concentrate on-site will reduce costs and increase payable ounces

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