Harvest Gold Corporation (TSXV: HVG) (“Harvest Gold” or the “Company”) is pleased to announce the results of its fall 2024 soil sampling program carried out at its Quebec Mosseau property. The Mosseau project covers 21 km of favourable strike in the Urban-Barry greenstone belt region (Figure 1).
The soil sampling program was carried out by IOS Services Geoscientifiques in October and November 2024 and included the collection of 605 soil samples covering favourable geology and a distinctive magnetic domain in the central part of the property (Figures 2 and 3).
Rick Mark, CEO of Harvest Gold states: “This soil geochemical survey, remarkably, the first of its kind on this property, has yielded a breakthrough in our understanding of the gold potential surrounding the Kiask River Mineralized Corridor. These soil geochemistry results, layered upon historic information and Harvest’s recent geophysical, prospecting and mapping results produce target opportunities previously unseen. The geo team is meeting this week to prioritize drill targets.”
Results from the soil geochemical program* highlight distinctive gold targets; the greater than 98th percentile Au Z-Score** values define eight zones in and parallel to the Kiask River Mineralized Corridor (KRMC) (Figure 4). Three of the gold trains are immediately to the south and down-ice of the KRMC, confirming known mineralization from previous drilling and prospecting results. Another five (5) gold trains are parallel to the KRMC, to the North and the South of the KRMC. These targets are also associated with magnetic highs and geologically by diorite and gabbro’s in the local stratigraphy (Figure 5, Figure 6).
The soil sampling program, in conjunction with the recently released results of the prospecting and geological mapping was carried in the central part of the Mosseau property The soil sampling program has confirmed existing drill targets along the Kiask River Mineralized Corridor, as well as identified new targets in the central part of the Mosseau property. Previously recognized mineralization in the central part of the property along the Kiask River Mineralization Corridor, identified by Vior in 2017, included 2.93 g/t Au over 5.0 m from drilling and grab samples up to 12.9 g/t Au. The mineralization was confirmed and extended along strike from results of the 2024 prospecting and mapping program (Press release May 15, 2025)
The soil sampling program included lines at a 200 m spacing, perpendicular to the known ice flow direction, and sample stations at every 25 m. The significance of the anomalies is not only determined by the gold grade and Z-score*, but also by the contiguity of the anomalous samples.
*Soil sampling surveys are not definitive, and the results are still at an early stage of interpretation, with no guarantee of a mineral discovery
**The anomaly thresholds were determined by IOS using a probabilistic approach. In that the assays results are first transformed into logarithmic data. The Z-score is then calculated for each element of each sample. This significantly limits the range of values and enables the use of a normal distribution for the probability modelling. The anomaly threshold for an element is determined by the difference between the sample’s Z-score and the expected Z-score for a log-normal population with an average of 0 and a standard deviation of 1, which represents the regional background as confirmed by the analysis of IOS’s large database. Any sample deviated from that regional trend is likely related to an anomalous population.
About Harvest Gold Corporation
Harvest Gold is focused on exploring for near surface gold deposits and copper-gold porphyry deposits in politically stable mining jurisdictions. Harvest Gold’s board of directors, management team and technical advisors have collective geological and financing experience exceeding 400 years.
Harvest Gold has three active gold projects focused in the Urban Barry area, totalling 377 claims covering 20,016.87 ha, located approximately 45-70 km west of Gold Fields - Windfall Deposit (Figure 1).
Harvest Gold acknowledges that the Mosseau Gold Project straddles the Eeyou Istchee-James Bay and Abitibi territories. Harvest Gold is committed to developing positive and mutually beneficial relationships based on respect and transparency with local Indigenous communities.
Harvest Gold’s three properties, Mosseau, Urban-Barry and LaBelle, together cover over 50 km of favorable strike along mineralized shear zones.
Figure 1: Project Location: Urban-Barry Greenstone Belt
Figure 2: Mosseau Geology – Area of Soil Sampling Survey (red)
Figure 3: Mosseau Magnetics and Magnetic Domain – Area of Soil Sampling Survey (red)
Figure 4: Central area – Soil Sampling Au (Z Scores)
Figure 5: Soil Sampling (Z Scores) and up-ice target areas overlain on geology
Figure 6: Soil Sampling (Z Scores) and up-ice target areas overlain on Magnetics
QA/QC Statement
All soil samples collected during the program were securely transported to Activation Laboratories (Actlabs) in Ancaster, Ontario, an independent and ISO/IEC 17025-accredited laboratory. Sample analysis included aqua regia digestion on 30g aliquots followed by ICP-MS analysis for major and trace elements (method UT-1-30g). Digestion with aqua regia consists of a solution of 75% hydrochloric acid and 25% nitric acid, which is highly aggressive and oxidizing, allowing metals, sulphides and gold to be dissolved. The contents of silicate minerals only partially enter solution, however, which subtracts them from the results reported, since solubilization depends on the mineral species and metals present. Thus, most of the iron and magnesium present in these ferromagnesian minerals is solubilized, leaving a residue of insoluble silica and alumina. However, digestion with aqua regia does not bring refractory minerals into solution, including quartz, feldspars, zircon and several oxides. For 5 samples with aluminum results above the UT-1-30g limit, aluminum was analyzed by ICP-OES after lithium borate fusion. 68 certified reference materials (Oreas 46 and Oreas 47), internal reference material (MRIHB23-2 and Till09) and blanks pulverized at <90 microns were added to the samples by IOS before they were sent to Actlabs. The Company follows industry-standard QA/QC protocols, including the insertion of certified reference materials, blanks, and duplicates to ensure the accuracy and precision of the results.
Qualified Person Statement
All scientific and technical information in this news release has been prepared and approved by Louis Martin, P.Geo., Technical Advisor to the Company and considered a Qualified Person for the purposes of NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
Rick Mark
President and CEO
Harvest Gold Corporation
For more information please contact:
Rick Mark or Jan Urata
@ 604.737.2303 or info@harvestgoldcorp.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
This news release includes certain statements that may be deemed "forward looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that Harvest Gold expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Harvest Gold offers investors a compelling opportunity to participate in early-stage exploration within Quebec’s prolific Abitibi Greenstone Belt – home to some of Canada’s richest gold deposits – through three strategically located and 100 percent owned properties, with a flagship asset positioned for significant discovery upside.
Harvest Gold (TSXV:HVG) is a Canadian junior exploration company advancing a portfolio of 100 percent owned, highly prospective gold projects in Quebec’s world-renowned Abitibi Greenstone Belt. With more than 200 million ounces of historical gold production, the Abitibi is one of the richest gold-producing regions globally. Harvest Gold’s properties – Mousseau, Urban Barry and LaBelle – are strategically situated in and around the Urban Barry Greenstone Belt, a rapidly emerging gold camp that has become the focal point of aggressive exploration and investment by major players like Gold Fields and Osisko Mining.
The Urban Barry Belt is particularly significant: it hosts the high-grade, multi-million-ounce Windfall gold deposit, which was developed by Osisko Mining and recently purchased by Gold Fields, as well as Bonterra’s Gladiator and Barry deposits. In a belt where land is increasingly consolidated by majors, Harvest Gold controls three of the few remaining independent, district-scale land packages, representing a rare opportunity for investors to gain early exposure in an area with proven geological endowment and high-value acquisition potential. With road access, nearby infrastructure and recent forest fires having cleared ground for new exploration, the conditions are optimal for discovery.
The company's strategy is further strengthened by its highly experienced leadership and technical team. CEO Rick Mark brings more than 40 years of business and management experience and has overseen multiple resource companies through peak valuations for 25 years. The technical team includes industry veterans such as Louis Martin, a two-time AEMQ “Discovery of the Year” award winner, and Warren Bates, former VP exploration for Pelangio, who was instrumental in the Blackwater discovery. This team brings deep expertise in structural geology, Quebec-focused exploration, and mine development.
Harvest Gold is backed by Crescat Capital, a prominent institutional investor with a strong track record of supporting early-stage discoveries. Crescat’s investment was driven by the endorsement of their strategic advisor, Dr. Quinton Hennigh, a globally recognized exploration geologist. His confidence in the company’s land positioning and geological model is a powerful validation of Harvest’s potential.
The Mousseau gold project is Harvest Gold’s flagship asset, encompassing 193 claims across 9,735.6 hectares in the northern Abitibi Greenstone Belt of Quebec. Located just 15 kilometers east of Lebel-sur-Quévillon, the property benefits from year-round road accessibility, offering critical logistical and cost advantages for exploration. It lies immediately adjacent to claims held by Gold Fields and Cartier Resources to the north and near significant land packages staked by renowned prospector Shawn Ryan to the south, placing Mousseau in the heart of one of the most geologically fertile and active regions in Canada.
At the geological level, Mousseau straddles two major structural corridors: the Morono Shear Zone and the Kiask River Deformation Zone. Both zones exhibit classic characteristics of shear-hosted gold systems, including multiple stacked quartz-sericite shear zones with widths ranging from under one meter to over 30 meters. The property already boasts 49 significant surface gold showings and a historical, non-NI 43-101 compliant gold resource at the Morono zone. New geological mapping, combined with geophysics and geochemical sampling, confirms a large, mineralized system with excellent continuity along strike and at depth.
In 2024, Harvest Gold completed a comprehensive high-resolution airborne magnetic survey over the entire property, revealing a network of previously unrecognized structural features and magnetic domains. These insights were critical in refining drill targets, particularly in underexplored zones that were newly exposed following the 2023 wildfires. Initial compilation and fieldwork has already validated several new high-priority gold targets in both the northern (Morono) and central (Kiask River) zones of the property.
Highlights from historical and recent data include:
The company’s 2025 exploration plan includes 5,000 meters of diamond drilling focused on these defined high-priority targets, with a fully scoped budget of $1 million, aiming to unlock the project's full potential as a large-scale, high-grade discovery.
Given its scale, geological architecture, infrastructure access and strategic neighbors, Mousseau is well-placed to evolve into a tier-one asset capable of attracting major partners or acquirers.
Acquired from EGR Exploration, the Urban Barry property comprises 6,879 hectares located west of the Osisko/Gold Fields Windfall property. The project spans 20 km of favorable strike length and sits along the southern margin of the Urban Barry Greenstone Belt.
Key advantages:
Staked in 2024, LaBelle covers 3,394 hectares and represents a 9 km southeast extension of the Kiask River Fault. It mirrors the geological setting of Mousseau, with similar NW-SE oriented shear zones and structural contacts between the Wilson Pluton and volcanic sequences.
Though early-stage, LaBelle offers:
With 25 years of leadership in Canadian public resource companies, Rick Mark previously helmed VMS Ventures, North American Nickel and Pancontinental Uranium, each achieving peak valuations of C$200 million.
A Quebec-focused geological consultant with more than 40 years of experience, Louis Martin is the former VP of exploration at Clifton Star Mining, where he led the team developing the Duparquet deposit. He is a multiple-time recipient of the AEMQ “Discovery of the Year” award.
Recently VP capital markets at Tutor Gold, Pat Donnelly is a former co-founder and president of First Mining Gold, where he executed eight M&A deals growing the company’s market cap from $30 million to $600 million.
Len Brownlie brings more than 30 years of executive leadership in mining exploration. He is the former president of Goldrush Resources and director of First Silver Reserve.
Christopher Cherry has more than 15 years of experience in corporate accounting and audit for public companies. He oversees Harvest Gold’s financial strategy and compliance.
Ed Zablotny boasts over 35 years in venture capital markets with expertise in trading, credit and regulatory compliance.
Warren Bates is a veteran geologist with 30+ years in gold and base metals exploration. He is the former VP of exploration at Pelangio Exploration and part of the Blackwater deposit discovery team.
Henry Awmack is the co-founder of Equity Exploration Consultants, with over 40 years of exploration experience. He was notably involved in early work on the Cobre Panama copper-gold deposit.
Neil Richardson is a geological consultant and the VP Explorations for Hudbay Minerals. He led the team behind the discovery and development of the Reed Mine while at VMS Ventures.
Advancing the large-scale Mousseau Gold Project in Quebec’s World-class Abitibi Region
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Vancouver, British Columbia TheNewswire - August 28, 2025 ‑ Harvest Gold Corporation (TSXV: HVG,OTC:HVGDF) (" Harvest Gold " or the " Company ") is pleased to announce that its diamond drill program at the Mosseau Gold Project is well underway, with the first five holes successfully completed (see Figure 3).
Drilling is proceeding smoothly in the northern part of the Mosseau property, an area distinguished by numerous historical gold showings and prospective geological features. This northern part of the mineralized corridor on Mosseau represents a key focus of the Company's current program, as it offers strong potential for new discoveries in addition to increasing the size of known zones of mineralization across the area.
The drill program is on time and on budget. Harvest Gold would like to acknowledge the excellent work being carried out by its contractors. First, Forage Rouillier's team has ensured steady and efficient drilling progress. In addition, Explo-Logik has provided a dedicated technical and professional crew supporting field logistics, core logging, and drill core sampling. All of the Company's protocols and procedures are being followed, with daily drilling and core logging progress reports provided to management, ensuring that the program continues to advance safely and efficiently.
Harvest Gold has also successfully completed its regional till sampling program ahead of time and below budget across its Urban-Barry property. This initiative is designed to generate new geochemical vectors to potential gold mineralization and complements the Company's broader exploration strategy across its property portfolio. The purpose of the program is to evaluate Urban Barry's potential for blind gold occurrences through the study of gold grain dispersion in the secondary environment.
The survey was conducted on a grid consisting of NW–SE sampling lines spaced approximately 1,000 to 1,500 metres apart and oriented perpendicular to the dominant ice flow, with individual sampling sites located every ~250 metres (see Figure 4).
Of the 145 till samples originally planned, the Company successfully collected 137 samples, which contained proper surficial deposit material. Most samples were taken from depths of at least one metre, ideally below the oxidized B horizon, to reach the lodgment till. Lodgment till is a key target because it typically contains the highest proportion of material derived from proximal up-ice sources, including fragments potentially associated with gold mineralization.
Each sample collected consisted of approximately 10 kilograms of material free from cobbles and pebbles, collected by hand shovel to ensure sample integrity. The Company expects the results from this program to provide valuable guidance for defining exploration targets across Urban-Barry.
About Harvest Gold Corporation
Harvest Gold is focused on exploring for near-surface gold deposits and copper-gold porphyry deposits in politically stable mining jurisdictions. Harvest Gold's board of directors, management team and technical advisors have collective geological and financing experience exceeding 400 years.
Harvest Gold has three active gold projects focused in the Urban Barry area, totalling 377 claims covering 20,016.87 ha , located approximately 45-70 km west of Gold Fields Limited's - Windfall Deposit (Figure 1).
Harvest Gold acknowledges that the Mosseau Gold Project straddles the Eeyou Istchee-James Bay and Abitibi territories. Harvest Gold is committed to developing positive and mutually beneficial relationships based on respect and transparency with local Indigenous communities.
Harvest Gold's three properties, Mosseau, Urban-Barry and LaBelle, together cover over 50 km of favorable strike along mineralized shear zones.
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Figure 1: Project Location: Urban-Barry Greenstone Belt
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Figure 2: Magnetic Domains across the Northern and Central Target Areas of Mosseau
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Figure 3: Progress of drill holes completed – Northern Target Area
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Figure 4: Urban-Barry Project; Till Sampling Sites
Qualified Person Statement
All scientific and technical information in this news release has been prepared and approved by Louis Martin, P.Geo., Technical Advisor to the Company and considered a Qualified Person for the purposes of NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
Rick Mark
President and CEO
Harvest Gold Corporation
For more information please contact:
Rick Mark or Jan Urata
@ 604.737.2303 or info@harvestgoldcorp.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
This news release includes certain statements that may be deemed "forward looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that Harvest Gold expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Copyright (c) 2025 TheNewswire - All rights reserved.
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Vancouver, British Columbia / August 14, 2025 ‑ TheNewswire - Harvest Gold Corporation (TSXV: HVG) (" Harvest Gold " or the " Company ") is pleased to provide an update on exploration activities across its 100%-owned Quebec properties, all located in the Abitibi Greenstone Belt within the Urban-Barry area. The Company has mobilized a diamond drill to commence drilling at its Mosseau property, initiated a property-wide till sampling program at its Urban-Barry project, and completed a high-resolution airborne magnetic survey over the LaBelle property and recently acquired claims southeast of Mosseau .
Rick Mark, President and CEO of Harvest Gold states: "We are all very excited to be advancing exploration on all three of our Urban-Barry area properties, simultaneously. This includes our much-anticipated 5000 meter diamond drilling program at Mosseau and an extensive first time geochemistry examination at the large Urban-Barry property. And, we have now completed a first time look at another sizable property, Labelle, through an airborne geophysics program that is continuous with the very revealing mag survey done last year on Mosseau."
Diamond Drilling at Mosseau
The diamond drill is expected to be mobilized this week to the Mosseau property. Phase I of the planned 5,000-metre diamond drilling program at Mosseau follows an extensive compilation of regional data, a high-resolution magnetic survey, and encouraging results from the soil sampling program and reconnaissance mapping and prospecting programs. Drilling will focus on high-priority targets in the northern portion of the property, which hosts numerous historical gold showings, as well as in the Central area where recent geophysical and geochemical surveys have identified several quality targets for gold mineralization (Figures 2 and 3).
Till Sampling at Urban-Barry
Harvest Gold has also commenced fieldwork at its 19 km-long Urban-Barry property, which averages 4 km in width. Limited prospecting and mapping were conducted last summer; however, due to some reasonably extensive overburden, the Company determined that a till sampling survey would be the most effective tool to evaluate the property's gold potential. The survey is being conducted by IOS Services Géoscientifiques and consists of NW-SE oriented sampling lines spaced 1,000–1,500 metres apart, perpendicular to the dominant ice-flow direction, with individual samples collected every 250–300 metres. A total of 145 samples are planned (Figure 4).
Magnetic Survey at LaBelle
This week, the Company completed a high-resolution airborne magnetic survey over the LaBelle property and newly staked claims, at a 50-metre line spacing totaling 1,368 line-kilometres (Figure 5). Conducted by Novatem Airborne Geophysics, the survey covers an area with minimal historical exploration, but is interpreted from government regional magnetic data to be the southeast extension of the mineralized corridor hosting known mineralization at Mosseau.
These programs are designed to expand the Company's exploration pipeline and support future drill targeting across its broad Quebec project portfolio.
About Harvest Gold Corporation
Harvest Gold is focused on exploring for near surface gold deposits and copper-gold porphyry deposits in politically stable mining jurisdictions. Harvest Gold's board of directors, management team and technical advisors have collective geological and financing experience exceeding 400 years.
Harvest Gold has three active gold projects focused in the Urban Barry area, totalling 377 claims covering 20,016.87 ha , located approximately 45-70 km west of Gold Fields Limited's - Windfall Deposit (Figure 1).
Harvest Gold acknowledges that the Mosseau Gold Project straddles the Eeyou Istchee-James Bay and Abitibi territories. Harvest Gold is committed to developing positive and mutually beneficial relationships based on respect and transparency with local Indigenous communities.
Harvest Gold's three properties, Mosseau, Urban-Barry and LaBelle, together cover over 50 km of favorable strike along mineralized shear zones.
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Figure 1: Project Location: Urban-Barry Greenstone Belt
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Figure 2: Magnetic Domains across the Northern and Central Target Areas of Mosseau
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Figure 3: Drill targets on the Mosseau property (magnetics)
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Figure 4: Till Sampling program in progress on the Urban-Barry Property
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Figure 5: Recently completed airborne magnetic survey lines on the LaBelle and Mosseau (2025) and airborne magnetic results of Mosseau (2024)
Qualified Person Statement
All scientific and technical information in this news release has been prepared and approved by Louis Martin, P.Geo., Technical Advisor to the Company and considered a Qualified Person for the purposes of NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS
Rick Mark
President and CEO
Harvest Gold Corporation
For more information please contact:
Rick Mark or Jan Urata
@ 604.737.2303 or info@harvestgoldcorp.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
This news release includes certain statements that may be deemed "forward looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that Harvest Gold expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Copyright (c) 2025 TheNewswire - All rights reserved.
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Vancouver, British Columbia TheNewswire - August 1, 2025 ‑ Harvest Gold Corporation (TSXV: HVG,OTC:HVGDF) (" Harvest Gold " or the " Company ") announces that, subject to the approval of the TSX Venture Exchange (the " Exchange ") and further to its news release of July 3, 2025, it has closed its non-brokered private placement raising gross proceeds of $2,295,549.86 (the " Offering ").
The Offering consisted of 11,660,199 units (the " Units ") at a price of $0.075 per Unit for proceeds of $874,514.93 and 13,533,666 charity flow-through units (the " CFT Units ") at a price of $0.105 per CFT Unit for proceeds of $1,421,034.93.
Crescat Capital LLC (" Crescat "), as the lead investor in the Offering, purchased 5,866,666 Units, bringing its non-diluted ownership of Harvest Gold common shares to approximately 19.73%. Crescat's participation constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (" MI 61-10 1"). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 based on the exemptions provided in Section 5.5(c) Distribution of Securities for Cash and Section 5.7(b) Fair Market Value Not More than $2,500, 000, respectively.
Quinton Hennigh, Geologic and Technical Advisor at Crescat Capital LLC states: "Harvest Gold has, in my view, a very attractive land position over a highly prospective greenstone belt that hosts the nearby Windfall deposit. Although in the early stage, Harvest Gold's team collected solid geophysical and geochemical data that define some compelling green field targets. They are now set to conduct their first drill program to test these targets. I find it refreshing to see a company tackle something bold and new like this and look forward to seeing what they encounter."
Rick Mark, President and CEO of Harvest Gold states: "We are grateful to Crescat and the outstanding group of investors who have supported us in this round and over the past two year as we established ourselves in Quebec. I am very pleased to say that the drilling at Mosseau will begin shortly and that, concurrently, we will be exploring Urban Barry and Labelle for the first time."
Each CFT Unit is comprised of one common share of the Company (each, a " Common Share ") and one common share purchase warrant of the Company (each, a " Warrant "), each of which qualifies as a "flow-through share" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)). Each Unit consists of one Common Share and one Warrant. Each Warrant entitles the holder thereof to acquire one Common Share (each, a " Warrant Share ") at a price of $0.12 per Warrant Share for a period of two years following the closing date of the Offering (the " Expiry Date ").
The Company anticipates using the proceeds from the issue and sale of the Units for the 2025 drilling campaign, various other exploration expenses and general working capital.
The gross proceeds raised from the CFT Units will be used by the Company to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" (as both terms are defined in the Income Tax Act (Canada)) (the " Qualifying Expenditures ") related to the Company's projects in Québec. The Company will renounce Qualifying Expenditures with an effective date of no later than December 31, 2025, in an amount of not less than the total amount of the gross proceeds raised from the issuance of the CFT Units, and incur such expenses by December 31, 2026.
All securities issued will be subject to a four-month hold period pursuant to securities laws in Canada, expiring on December 1, 2025.
In connection with the Offering, the Company paid finder's fees consisting of $19,790 cash and 263,867 non-transferable finder's warrants (the " Finder's Warrants ") to arm's length finders. Each Finder's Warrant is exercisable at $0.12 until the Expiry Date.
About Harvest Gold Corporation
Harvest Gold has three active gold projects focused in the Urban Barry area, totalling 329 claims covering 17,539.25 ha , located approximately 45-70 km east of the Gold Fields Windfall Deposit.
The Company's board of directors, management team and technical advisors have collective geological and financing experience exceeding 400 years.
Harvest Gold acknowledges that the Mosseau Gold Project straddles the Eeyou Istchee-James Bay and Abitibi territories. Harvest Gold is committed to developing positive and mutually beneficial relationships based on respect and transparency with local Indigenous communities.
ON BEHALF OF THE BOARD OF DIRECTORS
Rick Mark
President and CEO
Harvest Gold Corporation
For more information please contact:
Rick Mark or Jan Urata
@ 604.737.2303 or info@harvestgoldcorp.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
This news release includes certain statements that may be deemed "forward looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that Harvest Gold expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
Forward-looking statements in this news release include, but are not limited to, statements regarding: the final approval of the Offering by the Exchange; the anticipated commencement of drilling at Mosseau and initial exploration at Urban Barry and Labelle; the Company's exploration plans and strategy; the expected use of proceeds from the Offering; and the Company's intention to incur and renounce Qualifying Expenditures under the Income Tax Act (Canada) within the prescribed timelines.
Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable securities laws of any state of the United States, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act) or persons in the United States unless registered under the U.S. Securities Act and any other applicable securities laws of the United States or an exemption from such registration requirements is available.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within any jurisdiction, including the United States. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.
Copyright (c) 2025 TheNewswire - All rights reserved.
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Vancouver, British Columbia TheNewswire - July 24, 2025 ‑ Harvest Gold Corporation (TSXV: HVG,OTC:HVGDF) (" Harvest Gold " or the " Company ") is pleased to announce that it has completed all aspects of preparation for a diamond drilling program slated to begin in early August 2025 at its 100%-owned Mosseau Gold Project in the Abitibi Greenstone Belt, Quebec (Figure 1). This follows an extensive regional data compilation, high-resolution magnetic survey, and encouraging results from recent fieldwork, including reconnaissance mapping, prospecting, soil sampling.
The present financing announced July 3, 2025 is expected to close on or about July 31, 2025 and, once closed, the funds will be released immediately to the related exploration contractors.
Rick Mark, President and CEO of Harvest Gold states: "I want to thank Louis Martin and the entire geological team for their excellent and extensive work in preparing for drilling at Mosseau. The quality and scale of the targets identified across this large property provide a strong foundation for what we believe is a significant discovery opportunity. We will also fly a magnetic survey on Labelle and execute a regional till sampling program on Urban Barry, both largely unexplored until now."
Phase I of the diamond drill program is expected to consist of approximately 5,000 metres of drilling and will test the highest-priority targets in both the Northern and Central portions of the property to evaluate their gold potential (Figure 2).
The Company has now identified approximately 23 priority drill targets, located in the Northern and Central parts of the Mosseau property (Figure 3), as a result of its integrated exploration efforts. These targets exhibit strong geological, geochemical, and geophysical signatures consistent with orogenic gold mineralization (Figure 4).
In addition to the Mosseau drill program, Harvest Gold will be launching two key regional exploration initiatives this summer:
A high-resolution magnetic survey over the LaBelle property, and
A property-wide till sampling survey over its Urban Barry properties.
These programs are designed to expand the Company's exploration pipeline and support future drill targeting across its Quebec project portfolio.
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Figure 1: Project Location: Urban-Barry Greenstone Belt
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Figure 2: Magnetic Domains across the Northern and Central Target Areas of Mosseau
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Figure 3: Drill targets on the Mosseau property (magnetics)
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Figure 4: Compilation and Drill targets in the Central Part - Mosseau (magnetics)
Qualified Person Statement
All scientific and technical information in this news release has been prepared and approved by Louis Martin, P.Geo., Technical Advisor to the Company and considered a Qualified Person for the purposes of NI 43-101.
About Harvest Gold Corporation
Harvest Gold is focused on exploring for near surface gold deposits and copper-gold porphyry deposits in politically stable mining jurisdictions. Harvest Gold's board of directors, management team and technical advisors have collective geological and financing experience exceeding 400 years.
Harvest Gold has three active gold projects focused in the Urban Barry area, totalling 377 claims covering 20,016.87 ha , located approximately 45-70 km west of Gold Fields - Windfall Deposit (Figure 1).
Harvest Gold acknowledges that the Mosseau Gold Project straddles the Eeyou Istchee-James Bay and Abitibi territories. Harvest Gold is committed to developing positive and mutually beneficial relationships based on respect and transparency with local Indigenous communities.
Harvest Gold's three properties, Mosseau, Urban-Barry and LaBelle, together cover over 50 km of favorable strike along mineralized shear zones.
ON BEHALF OF THE BOARD OF DIRECTORS
Rick Mark
President and CEO
Harvest Gold Corporation
For more information please contact:
Rick Mark or Jan Urata
@ 604.737.2303 or info@harvestgoldcorp.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
This news release includes certain statements that may be deemed "forward looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that Harvest Gold expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Copyright (c) 2025 TheNewswire - All rights reserved.
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NOT FOR DISTRIBUTION OR DISSEMINATION TO THE UNITED STATES
Vancouver, British Columbia TheNewswire - July 3, 2025 ‑ Harvest Gold Corporation (TSXV: HVG) (" Harvest Gold " or the " Company ") announces that, subject to the approval of the TSX Venture Exchange (the " Exchange "), it is proceeding with a non-brokered private placement to raise aggregate gross proceeds of approximately $2,200,000 (the " Offering "). Under the Offering, the Company will raise up to approximately $800,000 through the issuance and sale of units of the Company (the " Units ") at a price of $0.075 per Unit, and up to approximately $1,400,000 through the issuance and sale of charity flow-through units (the " CFT Units ") at a price of $0.105 per CFT Unit.
Each CFT Unit is comprised of one common share of the Company (each, a " Common Share ") and one common share purchase warrant of the Company (a " Warrant "), each of which qualifies as a "flow-through share" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) and 359.1 of the Taxation Act (Québec)). Each Unit consists of one Common Share and one Warrant. Each Warrant entitles the holder thereof to acquire one Common Share (each, a " Warrant Share ") at a price of $0.12 per Warrant Share for a period of two years following the closing date of the Offering.
The Company anticipates using the proceeds from the issue and sale of the Units for the 2025 drilling campaign, various exploration expenses and general working capital.
The gross proceeds raised from the CFT Units will be used by the Company to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures" (as both terms are defined in the Income Tax Act (Canada)) (the " Qualifying Expenditures ") related to the Company's projects in Québec. The Company will renounce Qualifying Expenditures with an effective date of no later than December 31, 2025, in an amount of not less than the total amount of the gross proceeds raised from the issuance of the CFT Units, and incur such expenses by December 31, 2026.
All securities issued will be subject to a four-month hold period pursuant to securities laws in Canada and, where applicable, the Exchange Hold Period. Finders' fees may be payable to qualified parties.
About Harvest Gold Corporation
Harvest Gold has three active gold projects focused in the Urban Barry area, totalling 329 claims covering 17,539.25 ha , located approximately 45-70 km east of the Gold Fields Windfall Deposit.
The Company's board of directors, management team and technical advisors have collective geological and financing experience exceeding 400 years.
Harvest Gold acknowledges that the Mosseau Gold Project straddles the Eeyou Istchee-James Bay and Abitibi territories. Harvest Gold is committed to developing positive and mutually beneficial relationships based on respect and transparency with local Indigenous communities.
ON BEHALF OF THE BOARD OF DIRECTORS
Rick Mark
President and CEO
Harvest Gold Corporation
For more information please contact:
Rick Mark or Jan Urata
@ 604.737.2303 or info@harvestgoldcorp.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
This news release includes certain statements that may be deemed "forward looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that Harvest Gold expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable securities laws of any state of the United States, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act) or persons in the United States unless registered under the U.S. Securities Act and any other applicable securities laws of the United States or an exemption from such registration requirements is available.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within any jurisdiction, including the United States. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.
Copyright (c) 2025 TheNewswire - All rights reserved.
News Provided by TheNewsWire via QuoteMedia
Gold price chart, August 29, 2025, to September 5, 2025.
Chart via the Investing News Network.
Expectations that the US Federal Reserve will lower interest rates when it meets later this month are part of what's driving gold's move. The central bank hasn't made a cut since December 2024, but comments made by Fed Chair Jerome Powell in a recent Jackson Hole, Wyoming, speech stoked anticipation among market participants.
US jobs data for August, released on Friday by the Bureau of Labor Statistics (BLS), has essentially locked in a downward move in rates. Nonfarm payrolls were up by 22,000, significantly lower than the 75,000 expected by economists.
Meanwhile, the country's unemployment rate came in at 4.3 percent.
The report is the first to be released since US President Donald Trump fired Erika McEntarfer, former commissioner at the BLS. She was ousted after July jobs data came in lower than expected, and after major downward revisions to May and June jobs numbers. The latest BLS report also brought revisions — the July number was boosted by 6,000 to come in at 79,000, but June stands at a net loss of 13,000 after a downward revision of 27,000.
CME Group's (NASDAQ:CME) FedWatch tool now shows a 90.2 percent probability of a 25 basis point rate cut in September, with a 9.8 percent probability of a 50 basis point reduction.
Target rate probabilities for September 17, 2025, Fed meeting.
Chart via CME Group.
Bond market turmoil also helped move the gold price this week.
Yields for 30 year US bonds rose to nearly 5 percent midway through the period, their highest level since mid-July, on the back of a variety of concerns, including tariffs, inflation and Fed independence.
Globally the situation was even more tumultuous, with 30 year UK bond yields reaching their highest point since 1998; meanwhile, 30 year bond yields for German, French and Dutch bonds rose to levels not seen since 2011.
In Japan, 30 year bond yields hit a record high.
Looking at gold's path forward, experts agree that its prospects are bright, although what kicks off its next leg and how high it could go during this cycle remain to be seen. While rates are in focus as a key price mover right now, other potential drivers include a stock market correction and the return of western investors.
Watch six experts share their thoughts on gold's next price trigger.
Elsewhere in the precious metals space, silver was trading at the US$41 per ounce level, down from its peak of around US$41.30 seen earlier in the week, but still at highs not seen since 2011.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Gold market gurus from Lynette Zang to Chris Blasi to Jordan Roy-Byrne have shared eye-popping predictions on the gold price that would intrigue any investor — gold bug or not.
Some have posited that the gold price may rise as high as US$4,000 or US$5,000 per ounce, and there are those who believe that US$10,000 gold or even US$40,000 gold could become a reality.
These impressive price predictions have investors wondering, what is gold's all-time high (ATH)?
In the past year, gold has reached a new all-time high dozens of times. Find out what has driven it to these levels, plus how the gold price has moved historically and what has driven its performance in recent years.
Before discovering what the highest gold price ever was, it’s worth looking at how the precious metal is traded. Knowing the mechanics behind gold's historical moves can help illuminate why and how its price changes.
Gold bullion is traded in dollars and cents per ounce, with activity taking place worldwide at all hours, resulting in a live price for the metal. Investors trade gold in major commodities markets such as New York, London, Tokyo and Hong Kong. London is seen as the center of physical precious metals trading, including for silver. The COMEX division of the New York Mercantile Exchange is home to most paper trading.
There are many popular ways to invest in gold. The first is through purchasing gold bullion products such as bullion bars, bullion coins and rounds. Physical gold is sold on the spot market, meaning that buyers pay a specific price per ounce for the metal and then have it delivered. In some parts of the world, such as India, buying gold in the form of jewelry is the largest and most traditional route to investing in gold.
Another path to gold investment is paper trading, which is done through the gold futures market. Participants enter into gold futures contracts for the delivery of gold in the future at an agreed-upon price.
In such contracts, two positions can be taken: a long position under which delivery of the metal is accepted or a short position to provide delivery of the metal. Paper trading as a means to invest in gold can provide investors with the flexibility to liquidate assets that aren’t available to those who possess physical gold bullion.
One significant long-term advantage of trading in the paper market is that investors can benefit from gold’s safe-haven status without needing to store it. Furthermore, gold futures trading can offer more financial leverage in that it requires less capital than trading in the physical market.
Interestingly, investors can also purchase physical gold via the futures market, but the process is complicated and lengthy and comes with a large investment and additional costs.
Aside from those options, market participants can invest in gold through exchange-traded funds (ETFs). Investing in a gold ETF is similar to trading a gold stock on an exchange, and there are numerous gold ETF options to choose from. For instance, some ETFs focus solely on physical gold bullion, while others focus on gold futures contracts. Other gold ETFs center on gold-mining stocks or follow the gold spot price.
It is important to understand that you will not own any physical gold when investing in an ETF — in general, even a gold ETF that tracks physical gold cannot be redeemed for tangible metal.
With regards to the performance of gold versus trading stocks, gold has an interesting relationship with the stock market. The two often move in sync during “risk-on periods” when investors are bullish. On the flip side, they tend to become inversely correlated in times of volatility. There are a variety of options for investing in stocks, including gold mining stocks on the TSX and ASX, gold juniors, precious metals royalty companies and gold stocks that pay dividends.
According to the World Gold Council, gold's ability to decouple from the stock market during periods of stress makes it “unique amongst most hedges in the marketplace.” It is often during these times that gold outperforms the stock market. For that reason, it is often used as a portfolio diversifier to hedge against uncertainty.
The gold price peaked at US$3,599.61, its all-time high, during trading on September 5, 2025.
What drove it to set this new ATH? Gold reached its new highest price following the release of unexpectedly weak US job data. Following the release, FedWatch's odds for a 25 basis point rate cut at the upcoming US Federal Reserve meeting dropped from 99 to 90.2 percent, while odds of a 50 point drop jumped to 9.8 percent. The meeting will take place from September 16 to 17.
Gold set new highs several times in the preceding week amid significant uncertainty in the US and global economies and surging gold ETF purchases.
One significant driver came on August 29, when a US federal appeals court ruled that US President Donald Trump's "liberation day" tariffs, announced in April, are illegal, stating that only Congress has the power to enact widespread tariffs. The Trump administration is expected to appeal the ruling, which will go into effect on October 14.
Stock markets fell during trading September 2, while treasury yields in the US and abroad rose significantly, providing tailwinds to the gold price. Gold was also boosted by the expectation of interest rate cuts by the US Federal Reserve at the September meeting.
News surrounding the tariffs had previously led gold to reach multiple new highs back in April, as we dive into below.
This string of record-breaking highs this year are caused by several factors.
Increased economic and geopolitical turmoil caused by the new Trump administration has been a tailwind for gold this year, as well as a weakening US dollar, sticky inflation in the country and increased safe haven gold demand.
Since coming into office in late January, Trump has threatened or enacted tariffs on many countries, including blanket tariffs on longtime US allies Canada and Mexico and tariffs on the European Union. Trump has also implemented 25 percent tariffs on all steel and aluminum imports.
The gold price set a string of new highs in the month of April amid high market volatility as markets reacted to tariff decisions from Trump and the escalating trade war between the US and China. By April 11, Trump had raised US tariffs on Chinese imports to 145 percent and China has raised its tariffs on US products to 125 percent.
As for the effect of these widespread tariffs raising prices for the American populace, Trump has reiterated his sentiment that the US may need to go through a period of economic pain to enter a new "golden age" of economic prosperity. Falling markets and a declining US dollar support gold, as did increased gold purchasing in China in response to US tariffs on the country. Elon Musk's call to audit the gold holdings in Fort Knox has also brought attention to the yellow metal.
Despite these recent runs, gold has seen its share of both peaks and troughs over the last decade. After remaining rangebound between US$1,100 and US$1,300 from 2014 to early 2019, gold pushed above US$1,500 in the second half of 2019 on a softer US dollar, rising geopolitical issues and a slowdown in economic growth.
Gold’s first breach of the significant US$2,000 price level in mid-2020 was due in large part to economic uncertainty caused by the COVID-19 pandemic. To break through that barrier and reach what was then a record high, the yellow metal added more than US$500, or 32 percent, to its value in the first eight months of 2020.
Gold price chart, August 31, 2020, to September 1, 2025.
Chart via the Investing News Network.
The gold price surpassed that level again in early 2022 as Russia's invasion of Ukraine collided with rising inflation around the world, increasing the allure of safe-haven assets and pulling the yellow metal up to a price of US$2,074.60 on March 8, 2022. However, it fell throughout the rest of 2022, dropping below US$1,650 in October.
Although it didn't quite reach the level of volatility as the previous year, the gold price experienced drastic price changes in 2023 on the back of banking instability, high interest rates and the breakout of war in the Middle East.
After central bank buying pushed the gold price up to the US$1,950.17 mark by the end of January, the US Federal Reserve’s 0.25 percent rate hike on February 1 sparked a retreat as the dollar and Treasury yields saw gains. The precious metal went on to fall to its lowest price level of the year at US$1,809.87 on February 23.
The banking crisis that hit the US in early March caused a domino effect through the global financial system and led to the mid-March collapse of Credit Suisse, Switzerland’s second-largest bank. The gold price jumped to US$1,989.13 by March 15. The continued fallout in the global banking system throughout the second quarter of the year allowed gold to break above US$2,000 on April 3, and go on to flirt with a near-record high of US$2,049.92 on May 3.
Those gains were tempered by the Fed’s ongoing rate hikes and improvements in the banking sector, resulting in a downward trend in the gold price throughout the remainder of the second quarter and throughout Q3. By October 4, gold had fallen to a low of US$1,820.01 and analysts expected the precious metal to drop below US$1,800.
That was before the October 7 attacks by Hamas on Israel ignited legitimate fears of a much larger conflict erupting in the Middle East. Reacting to those fears, and to rising expectations that the Fed would begin to reverse course on interest rates, gold broke through the important psychological level of US$2,000 and closed at US$2,007.08 on October 27. As the fighting intensified, gold reached a then-new high of US$2,152.30 in intraday trading on December 3.
That robust momentum in the spot gold price continued into 2024, chasing new highs on fears of a looming US recession, the promise of Fed rate cuts on the horizon, the worsening conflict in the Middle East and the tumultuous US presidential election year. By mid-March, gold was pushing up against the US$2,200 level.
That record-setting momentum continued into the second quarter of 2024 when gold broke through US$2,400 in mid-April on strong central bank buying, sovereign debt concerns in China and investors expecting the Fed to start cutting interest rates. The precious metal went on to hit US$2,450.05 on May 20.
Throughout the summer, the hits kept on coming.
The global macro environment was highly bullish for gold in the lead up to the US election. Following the failed assassination attempt on Trump and a statement about coming interest rate cuts by Fed Chair Powell, the gold spot price hit a then new all-time high on July 16 at US$2,469.30. One week later, news that then-President Joe Biden would not seek re-election and would instead pass the baton to Vice President Kamala Harris eased some of the tension in the stock markets and strengthened the US dollar. This also pushed the price of gold down to US$2,387.99 on July 22, 2024.
However, the bullish factors supporting gold remained in play, and the spot price for gold went on to breach US$2,500 on August 2 that year on a less than stellar US jobs report; it closed just above the US$2,440 level. A few weeks later, gold pushed past US$2,500 once again on August 16, closing above that level for the first time ever after the US Department of Commerce released data showing a fifth consecutive monthly decrease in a row for homebuilding.
The news that the Chinese government issued new gold import quotas to banks in the country following a two month pause also helped fuel the gold price rally. Central bank gold buying has been a significant tailwind for the gold price this year, and China's central bank has been one of the strongest buyers.
Market watchers expected the Fed to cut interest rates by a quarter point at their September 2024 meeting, but news on September 12 that the regulators were still deciding between the expected cut or a larger half-point cut led gold prices on a rally that carried through into the next day, bringing gold prices near US$2,600.
At the September 18 Fed meeting, the committee ultimately made the decision to cut rates by half a point, news that sent gold even higher. By September 20, it moved above US$2,600 and held above US$2,620.
In October 2024, gold first breached the US$2,700 level and continued to higher on a variety of factors, including further rate cuts and economic data anticipation, the escalating conflict in the Middle East between Israel and Hezbollah, and economic stimulus in China — not to mention the very close race between the US presidential candidates.
While the gold price fell following Trump's win in early November and largely held under US$2,700 through the end of the year, it began trending upwards in 2025 to the new all-time high discussed earlier in the article.
What's next for the gold price is never an easy call to make. There are many factors to consider, but some of the most prevalent long-term drivers include economic expansion, market risk, opportunity cost and momentum.
Economic expansion is one of the primary gold price contributors as it facilitates demand growth in several categories, including jewelry, technology and investment. As the World Gold Council explains, “This is particularly true in developing economies where gold is often used as a luxury item and a means to preserve wealth.”
Market risk is also a prime catalyst for gold values as investors view the precious metal as the “ultimate safe haven,” and a hedge against currency depreciation, inflation and other systemic risks.
Going forward, in addition to the Fed, inflation and geopolitical events, experts will be looking for cues from factors like supply and demand. In terms of supply, the world’s five top gold producers are China, Australia, Russia, Canada and the US. The consensus in the gold market is that major miners have not spent enough on gold exploration in recent years. Gold mine production has fallen from around 3,200 to 3,300 metric tons (MT) each year between 2018 and 2020 to around 3,000 to 3,100 MT each year between 2021 and 2023.
On the demand side, China and India are the biggest buyers of physical gold, and are in a perpetual fight for the title of world’s largest gold consumer. That said, it's worth noting that the last few years have brought a big rebound in central bank gold buying, which dropped to a record low in 2020, but reached a 55 year high of 1,136 MT in 2022.
World Gold Council data shows 2024 central bank gold purchases came to 1,044.6 MT, marking the third year in a row above 1,000 MT. In H1 2025, the organization says gold purchases from central banks reached 415.1 MT.
“I expect the Fed’s rate-cutting cycle to be good for gold, but central bank buying has been and remains a major factor," Lobo Tiggre, CEO of IndependentSpeculator.com, told the Investing News Network (INN) at the start of Q4 2024.
David Barrett, CEO of the UK division of global brokerage firm EBC Financial Group, is also keeping an eye on central bank purchases of gold. “I still see the global central bank buying as the main driver — as it has been over the last 15 years,” he said in an email to INN. "This demand removes supply from the market. They are the ultimate buy-and-hold participants and they have been buying massive amounts."
In addition to central bank moves, analysts are also watching for escalating tensions in the Middle East, a weakening US dollar, declining bond yields, and further interest rate cuts as factors that could push gold higher as investors look to secure their portfolios. “When it comes to outside factors that affect the market, it’s just tailwind after tailwind after tailwind. So I don’t really see the trend changing,” Coffin said.
Randy Smallwood of Wheaton Precious Metals (TSX:WPM,NYSE:WPM) told INN in March 2025 that gold is seeing support from many factors, including central bank buying, nervousness around the US dollar and stronger institutional interest. Smallwood is seeing an influx of fund managers wanting to learn about precious metals.
Joe Cavatoni, senior market strategist, Americas, at the World Gold Council, believes that market risk and uncertainty surrounding tariffs and continued demand from central banks are the main drivers of gold.
"Market risk in particular is a key strategic driver for the gold price and performance," Cavatoni told INN in a July 2025 interview. "Think strategically when you think about gold, and keep that allocation in mind."
Check out more of INN's interviews to find out what experts have said about the gold price during its 2025 bull run and where it could go next.
It’s important for investors to be aware that gold price manipulation is a hot topic in the industry.
In 2011, when gold hit what was then a record high, it dropped swiftly in just a few short years. This decline after three years of impressive gains led many in the gold sector to cry foul and point to manipulation.
Early in 2015, 10 banks were hit in a US probe on precious metals manipulation.
Evidence provided by Deutsche Bank (NYSE:DB) showed “smoking gun” proof that UBS Group (NYSE:UBS), HSBC Holdings (NYSE:HSBC), the Bank of Nova Scotia (TSX:BNS,NYSE:BNS and other firms were involved in rigging gold and silver rates in the market from 2007 to 2013. Not long after, the long-running London gold fix was replaced by the LBMA gold price in a bid to increase gold price transparency. The twice-a-day process, operated by the ICE Benchmark Administration, still involves a variety of banks collaborating to set the gold price, but the system is now electronic.
Still, manipulation has by no means been eradicated, as a 2020 fine on JPMorgan Chase & Co. (NYSE:JPM) shows. The next year, chat logs were released in a spoofing trial for two former precious metals traders from the Bank of America's (NYSE:BAC) Merrill Lynch unit. They show a trader bragging about how easy it is to manipulate the gold price.
Gold market participants have consistently spoken out about manipulation. In mid-2020, Chris Marcus, founder of Arcadia Economics and author of the book “The Big Silver Short,” said that when gold fell back below the US$2,000 mark after hitting close to US$2,070, he saw similarities to what happened with the gold price in 2011.
Marcus has been following the gold and silver markets with a focus specifically on price manipulation for nearly a decade. His advice? “Trust your gut. I believe we’re witnessing the ultimate ’emperor’s really naked’ moment. This isn’t complex financial analysis. Sometimes I think of it as the greatest hypnotic thought experiment in history.”
While we have the answer to what the highest gold price ever is as of now, it remains to be seen how high gold can climb, and if the precious metal can reach as high as US$5,000, US$10,000 or even US$40,000.
Even so, many market participants believe gold is a must have in any investment profile, and there is little doubt investors will continue to see gold price action making headlines this year and beyond.
This is an updated version of an article first published by the Investing News Network in 2020.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Aurum Resources offers a compelling value proposition through its highly prospective gold assets in Côte d'Ivoire, a fast-emerging gold region in West Africa. Its cost-effective exploration strategy of drill rig ownership also distinguishes it from its peers.
Aurum Resources (ASX:AUE) is a mineral exploration company primarily focused on gold through its Boundiali and Napié gold projects in Côte d’Ivoire, West Africa.
Côte d'Ivoire's gold mining sector is experiencing significant growth and development, with several key projects contributing to the country's economic expansion. The overall gold mining sector in Côte d'Ivoire is supported by substantial investments in infrastructure and exploration.
Geopolitically, Côte d'Ivoire outperforms most developing countries in the world in political, legal, tax and operational risk metrics. Additionally, Côte d'Ivoire continues to make notable strides in its political stability and Absence of Violence and Terrorism Index.
Boundiali Gold Project – BD Target 1 Artisanal Working
In March 2025, Aurum completed the acquisition of 100 percent of Mako Gold, bringing together its strong balance sheet and industry-leading drilling efficiencies to accelerate resource growth across northern Côte d’Ivoire. The company now holds a 90 percent interest in the highly prospective Napié Project, a 224 sq km land package with a 30 km strike near Korhogo.
Aurum has delivered a major milestone in 2025 with a +50 percent increase in the JORC Mineral Resource Estimate at its Boundiali Gold Project in Côte d’Ivoire, adding 820koz for a total of 2.41Moz. This lifts the company’s group resources to 3.28Moz, including Napié, highlighting the scale and growth potential of Aurum’s portfolio.
Supported by a seasoned board and management team with deep gold sector expertise—and strengthened by its recent capital raising—Aurum is well-funded to expand resources and advance development plans that drive long-term shareholder value.
The Boundiali gold project in Cote d’Ivoire is located within the Boundiali Greenstone Belt, which hosts Resolute’s Syama gold operation (11.5 Moz) and the Tabakoroni deposit (1 Moz) in Mali. Neighbouring assets also include Barrick’s Tongon mine (5 Moz) and Montage Gold’s Kone project (4.5 Moz).
The Boundiali project area covers the underexplored southern extension of the Boundiali belt, where a highly deformed synclinal greenstone horizon traverses finer-grained basin sediments, and to the west, Tarkwaian clastic rocks lie in contact with a granitic margin. The project benefits from year-round road access and excellent infrastructure.
The first stage of drilling at Boundiali occurred from late October 2023 to end of November 2024 for both the BM and BD tenements (BM1 and BM2; BD1, BD2 and BD3 targets) and was designed to test below-gold-in-soil anomalies oriented along NE trending structures, define new gold prospects and define maiden JORC resources. With over 63,000m diamond holes drilled during this period, Maiden JORC gold resources estimate was delivered in late December 2024.
Drilling costs are estimated at US$45 per metre, as Aurum owns all of its eight drilling rigs and employs its operators, representing a significant value proposition relative to peers who use commercial drilling companies that charge upwards of $200 per meter. The company believes there is potential for multi-million ounce gold resources to be defined with hundreds thousands meters of drilling over years within the Boundiali Gold Project’s land holding areas.
The Boundiali gold project comprises four contiguous granted licenses: PR0808 (80 percent interest), PR0893 (80 percent and earning to 88 percent interest), PR414 (100 percent interest), and PR283 (earning to 70 percent interest). Historic exploration at PR0893 includes 93 AC drill holes and four RC holes. Airborne geophysical surveying, geological mapping and extensive soil sampling have also been performed at PR0893, while PR0808 has had 91 RC holes drilled for 6,229 metres along with geochemical analysis and modeling. Detailed geochemical sampling and drilling at PR414 revealed three strong gold anomalies and returned impressive high-grade results.
In May 2024, Aurum entered a strategic partnership agreement to earn up to a 70 percent interest in exploration tenement PR283, to be renamed Boundiali North (BN). Aurum, through subsidiary Plusor Global Pty Ltd, has partnered with Ivorian company Geb & Nut Resources Sarl and related party (GNRR) to explore and develop the Boundiali North (BN) tenement which covers 208.87sq km immediately north of Aurum’s BD tenement. Further to this agreement,
Aurum announced it has earned 80 percent project interest after completing more than 20,000 m of diamond core drilling.
Aurum has announced a maiden independent JORC mineral resource estimate of 1.59 Moz gold for its 1,037 sq. km. The Boundiali Gold Project comprises the BST, BDT1 & BDT2, BMT1 and BMT3 deposits. Drilling is ongoing on these deposits, and Aurum has identified other prospects at Boundiali which have yet to be drilled. Since October 2023, the company has completed an extensive 63,927-metre diamond drilling program. This aggressive exploration campaign has rapidly defined a significant gold resource of 50.9 Mt @ 1.0 g/t gold for 1.6 million ounces.
In August 2025, Aurum announced a 50 percent increase in the JORC Mineral Resource Estimate (MRE). The update adds 820koz, lifting Boundiali’s resource to 2.41Moz and boosting total group resources to 3.28Moz, including Napié. The 2025 MRE covers six deposits, including BST1, BDT1, BDT2, BDT3, BMT1, and BMT3, with drilling ongoing and additional untested targets offering strong growth potential.
Aurum is working towards completing an open pit PFS for the Boundiali Gold Project by the end of 2025. This will provide an evaluation of the project's economics and technical feasibility.
Aurum holds a 90 percent interest in the Napié Project in north-central Côte d’Ivoire, acquired through its takeover of Mako Gold. Located approximately 30 km southeast of Korhogo, the project covers a 224 sq km land package with a 30 km strike length along the highly prospective Napié Shear Zone.
As of June 2022, Napié hosts a JORC 2012 Mineral Resource Estimate of 868,000 ounces of gold (22.5 Mt at 1.20 g/t Au), based on the Tchaga and Gogbala deposits—two of four known prospects along the shear. To date, only 13 percent of the Napié Shear has been explored, leaving substantial potential for further discoveries.
Napié Project – Previous results with detailed mapping area on Komboro Prospect shown in black rectangle
Troy Flannery has more than 25 years’ experience in the mining industry, including nine years in corporate and 17 years in senior mining engineering and project development roles. He has a degree in mining engineering, masters in finance, and first-class mine managers certificate of competency. Flannery has performed non-executive director roles with numerous ASX listed companies and was the CEO of Abra Mining until October 2021. He has worked at numerous mining companies, mining consultancy and contractors, including BHP, Newcrest, Xstrata, St Barbara Mines and AMC Consultants.
Dr. Caigen Wang founded Tietto Minerals (ASX:TIE), where he led the company as managing director for 13 years through private exploration, ASX listing, gold resource definition, project study and mine building to become one of Africa’s newest gold producers at its Abujar gold mine in Côte d’Ivoire. He holds a bachelor, masters and PhD in mining engineering. He is a fellow of AusIMM and a chartered professional engineer of Institution of Engineer, Australia. Wang has 13 years of mining academic experience in China University of Mining and Technology, Western Australia School of Mine and University of Alberta, and over 20 years of practical experience in mining engineering and mineral exploration in Australia, China and Africa. Other professional experience includes senior technical and management roles in mining houses, including St. Barbara, Sons of Gwalia, BHP Billiton, China Goldmines PLC and others.
Mark Strizek has nearly 30 years’ experience in the resource industry, having worked as a geologist on various gold, base metal and technology metal projects. He brings invaluable geological, technical and development expertise to Aurum, most recently as an executive director at Tietto Minerals’, which progressed from an IPO to gold production at the Abujar gold project in West Africa. Strizek has worked as an executive with management and board responsibilities in exploration, feasibility, finance, and development-ready assets across Australia, West Africa, Asia, and Europe.
Ateve Zaninovich is a qualified engineer with over 25 years of experience in mining project development, business development, maintenance, and operational readiness, with a focus on gold, base metals, and lithium. He is currently director of operations at Kodal Minerals, where he is responsible for advancing the Bougouni Lithium Project. His previous roles include project director at Lycopodium Minerals for the Akyem Gold Project in Ghana and chief operating officer at Gryphon Minerals. Following Gryphon’s acquisition by Teranga Gold Corporation, he became vice-president of major projects and a member of Teranga’s executive management team.
