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TORONTO, ONTARIO--(Marketwire - Dec. 31, 2010) -
HARTE GOLD CORP. ("Harte") (TSX VENTURE:HRT)(FRANKFURT:H4O) has raised gross proceeds of $788,250 and issued 1,051,000 flow through common shares pursuant to the final closing of a non-brokered private placement of up to four million flow through common shares priced at $0.75 announced December 23, 2010.
Finder's fees payable in connection with the final closing consist of a cash payment equal to 6% of cash raised and that number of common share purchase warrants equal to 6% of the flow through common shares issued pursuant to certain orders in the private placement, for a total of $23,265 and 31,020 warrants. Each Finder's warrant is exercisable into one common share on payment of $0.75 for a period of 12 months from closing.
Harte issued a total of 3,296,333 flow-through common shares at $0.75 and raised gross proceeds of $2,521,000 under the two closings which amount will allow Harte to aggressively pursue the exploration and development of the Sugar Zone Property.
About Harte Gold Corp.
Harte Gold Corp. is a Canadian gold exploration company with interests in the Sugar Zone and Stoughton-Abitibi properties located in Ontario, Canada. The Sugar Zone Property is located 60 kilometres east of the Hemlo Gold Camp and holds an NI 43-101 compliant Indicated Resource of 1,117,000 tonnes, grading 8.41 g/t Au for 302,000 ounces of contained gold and an Inferred Resource of 417,000 tonnes, grading 7.13 g/t Au for 95,000 ounces of contained gold. Harte is the operator of the Sugar Zone Property and currently owns a 49% interest with the option to acquire the remaining 51% for consideration equal to $90,000 every six months until payment of $2.5 million by May 28, 2012 or $3 million by May 28, 2013. Harte also holds the Stoughton-Abitibi property located on and adjacent to the Destor-Porcupine Fault Zone in close proximity to the 2.5 million ounce Holloway-Holt Gold Mine in the Timmins Porcupine gold camp.
Common Shares Outstanding: 139,568,318
FOR FURTHER INFORMATION PLEASE CONTACT: Stephen G. Roman
Harte Gold Corp.
President and CEO
416-368-0999
sgr@hartegold.com
ORDavid Ellis
Harte Gold Corp.
Investor Relations Consultant
416-704-0937
davidellis@hartegold.com
