TORONTO, ONTARIO -- (Marketwire) -- 12/23/11 -- HARTE GOLD CORP. ("Harte") (TSX:HRT)(FRANKFURT:H4O) announced it has raised gross proceeds of $500,000 from the sale today of 2,000,000 flow through common shares pursuant to the closing of a non-brokered private placement of up to 2,000,000 flow through common shares priced at $0.25 for gross proceeds of up to $500,000. Proceeds from the private placement will be focused on Harte's Sugar Zone Property in White River, Ontario.
Harte Gold agreed to pay finder's fees in connection with the private placement by a cash payment equal to 6% of proceeds raised pursuant to certain orders in the private placement, and to pay due diligence fees to certain qualified recipients. Harte Gold paid finder's fees of $9,750 and due diligence fees of $7,825 in connection with the closing today.
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: 164,888,114
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
Harte Gold Corp.
Stephen G. Roman
President and CEO
416-368-0999
sgr@hartegold.com
Harte Gold Corp.
David Ellis
Investor Relations Consultant
416-704-0937
davidellis@hartegold.com
Source: Marketwire (December 23, 2011 - 4:30 PM EST)
