Homestake Ridge Resource Increases to:

Homestake Ridge Resource Increases to: 
Indicated: 124,000ozs Au, 939,000ozs Ag (141,000ozs AuEq) and  
Inferred: 911,000ozs Au, 20,366,000ozs Ag (1,226,000ozs AuEq) 
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/25/13 -- Homestake
Resource Corporation (TSX VENTURE:HSR)(FRANKFURT:B6I) ("Homestake")
reported today that Roscoe Postle Associates Inc. ("RPA") has
completed a mineral resource update for the 2,585-hectare Homestake
Ridge Project, which is located in northwestern British Columbia. The
update provides an initial resource for the high-grade South Reef
deposit, which the Company discovered in late 2011, a refinement of
the Main Homestake deposit, which the Company discovered in 2005, and
a minor revision of the Homestake Silver deposit, which the Company
discovered in 2009. This represents the culmination of work on the
project by Homestake since 2003 and marks the
 transition of the
project to Agnico Eagle Mines Limited ("Agnico Eagle"). Agnico Eagle
has assumed project management since January 2013, under an August
2012 option agreement. As part of the option agreement Agnico Eagle
is required to complete $3.5 million in exploration expenditures on
the project in 2013. 
The current base-case Mineral Resource Estimate utilizing an $85NSR/t
cut-off value is as follows:  


 
------------------------------------------------------------------------
Indicated                                                               
------------------------------------------------------------------------
Zone             Tonnage          AU          AU          AG          AG
                      Kt      g/t Au       oz Au      g/t Ag       oz Ag
------------------------------------------------------------------------
Main             604,000         6.4     124,000        48.3     939,000
Homestake                                                               
------------------------------------------------------------------------
Total            604,000         6.4     124,000        48.3     939,000
------------------------------------------------------------------------
                                                                        
Inferred                                                                
------------------------------------------------------------------------
Main           2,031,000         5.6     369,000        28.6   1,868,000
Homestake                                                               
------------------------------------------------------------------------
Homestake      4,402,000         2.8     403,000       130.4  18,460,000
Silver                                                                  
------------------------------------------------------------------------
South            332,000        13.0     139,000         3.6      39,000
Reef                                                                    
------------------------------------------------------------------------
Total          6,766,000         4.2     911,000        93.6  20,366,000
------------------------------------------------------------------------
 
------------------------------------------------------------------------
Indicated                                                               
------------------------------------------------------------------------
Zone                  CU          CU         NSR        AUEQ        AUEQ
                    % Cu      Mlb Cu       $US/t    g/t AuEq     oz AuEq
------------------------------------------------------------------------
Main                0.18         2.4         294         7.3     141,000
Homestake                                                               
------------------------------------------------------------------------
Total               0.18         2.4         294         7.3     141,000
------------------------------------------------------------------------
                                                                        
Inferred                                                                
------------------------------------------------------------------------
Main                0.31        13.9         260         6.4     415,000
Homestake                                                               
------------------------------------------------------------------------
Homestake           0.03         2.5         185         4.7     671,000
Silver                                                                  
------------------------------------------------------------------------
South               0.04         0.3         523        13.1     140,000
Reef                                                                    
------------------------------------------------------------------------
Total               0.11        16.3         224         5.6   1,226,000
------------------------------------------------------------------------

 
The $85 NSR/t cut-off value was calculated using average long term
prices of $1,500/oz gold, $27/oz silver and $3.50/lb copper and metal
recoveries of 92% gold, 88% silver and 88% copper in blocks with
greater than 0.1% Cu and just gold and silver recoveries in blocks
with less than 0.1% Cu. Provisions were also included for estimated
smelter payment terms, refining costs and transportation. All prices
are stated in $USD. 
The new Mineral Resource Estimate represents an approximate 40%
increase for the Homestake Ridge Project at roughly equivalent gold
and silver grades when compared to the earlier April 6, 2011 Mineral
Resource Estimates (see NR-05-11). The increase in mineral resources
is due to the identification of new high-grade resources through
additional drilling, optimization of the block models to 3D
wireframes at a 2g/t AuEq cut-off grade and a lower cut-off value due
to higher average metal prices. The 2011 resource estimate was given
using a 3.0g/t AuEq cut-off grade, which equates to an approximate
$118NSR cut-off value. 
Highlights from the 2013 Mineral Resource Estimate Update include: 


 
--  The identification of new high-grade grade resources at the South Reef
    deposit (139,000 ozs Au and 39,000 ozs Ag averaging 13.0g/t Au, 3.6g/t
    Ag), which remains open to the northwest. 
--  An updated and optimized model for the Main Homestake deposit. The
    current model successfully captured a higher-grade mineral resource at
    an equivalent cut-off grade when compared to the previous block model.
    This resulted in an increase in grade and overall contained gold ounces.
--  The inclusion of new silver-enriched resources that were identified by
    drilling in 2011 at the Homestake Silver deposit. The geological model
    for the Homestake Silver deposit was updated from a 2-dimensional model
    into a new 3-dimensional model to be consistent with the modeling of the
    two other deposits on the property.

 
RPA suggests that an underground mining scenario is appropriate for
the project and has recommended an $85 NSR cut-off value for the
base-case resource estimate. Also reported are $65, $120, and $140,
NSR cut-off values (see Table 1), which demonstrate both a
significant increase in tonnage and contained gold and silver ounces
at the lower $65 NSR cut-off value, and significant increases in gold
and silver grades at incrementally higher cut-off values. A NI
43-101-compliant Technical Report will be posted on Sedar within 45
days. 
Mineral resources that are not mineral reserves do not have
demonstrated economic viability. Inferred resources are considered
too speculative geologically to have economic considerations applied
to them that would enable them to be classified as mineral reserves.
There is no assurance that any part of the resources will ultimately
be converted to mineral reserves. 
Optionee Agnico Eagle has advised that it continues with project
planning for the upcoming exploration program, which will include
surface exploration, ground geophysics and diamond drilling with the
objective of identifying and outlining additional deposits and
mineral resources at the property. Exploration field work on the
property should resume in the late June to early July timeframe.  
President Joe Kizis commented, "Homestake's consistent and systematic
exploration efforts since 2003 have yielded three significant
deposits at Homestake Ridge, making it now one of the top undeveloped
higher-grade precious metal projects in the world. As Agnico Eagle
assumes exploration and development of the Homestake Ridge property
with a 2013 budget of $3.5million, we are confident that additional
high-grade resources will be found, which will ultimately result in
increased value for Homestake's shareholders. Few junior explorers
are as well positioned for success during this period of market
uncertainty."  
Homestake Resource Update Parameters 
The current estimate was carried out using separate block models
constrained by 3D wireframes of the mineralized zones. Th
e block
models comprised an array of blocks measuring 5 m x 5 m x 5 m, with
grades for Au, Ag, and Cu interpolated using Inverse Distance to the
Third Power (ID3) weighting. Gold equivalence and NSR values were
calculated afterward from the interpolated block grades. 
The interpolations were carried out in three passes using
progressively larger search radii of 30m, 50m and 100m. For the first
and second passes, the interpolation was restricted to a minimum of
three and a maximum of eight composites, with a maximum of two
composites from any one drill hole (i.e. a minimum of two drill holes
required). In the third pass, the composite constraints were a
minimum of one and a maximum of two from a single drill hole. 
Bulk densities were based on a total of 2,308 measurements taken by
Homestake field personnel from the mineralized zones. Where enough
measurements were available, average densities were estimated for the
indivi
dual zones. These density values ranged from 2.66 t/m3 to 2.85
t/m3. For zones with too few measurements to determine a reliable
mean, the average for the entire dataset, 2.75 t/m3, was used.  
The mineralized zones were defined by Homestake personnel in
consultation with RPA. The mineralized wire frames were identified
using a nominal grade cut-off of 2.0 g/t AuEq, and a minimum
horizontal width of 2.0m. 


 
Table 1: Summary of Mineral Resources at Homestake Ridge                
                                                                        
Main Homestake Deposit - Indicated Resources                            
------------------------------------------------------------------------
Cut Off              Tonnes        Au        Au        Ag             Ag
(NSR$/t)                        (g/t)      (oz)     (g/t)           (oz)
------------------------------------------------------------------------
140                 421,000       8.1   109,000      62.7        849,000
120                 482,000       7.4   115,000      57.0        883,000
85                  604,000       6.4   124,000      48.3        939,000
65                  652,000       6.0   127,000      46.5        973,000
------------------------------------------------------------------------
                                                              
Main Homestake Deposit - Indicated Resources                  
--------------------------------------------------------------
Cut Off             Cu        Cu       NSR      AUEQ      AUEQ
(NSR$/t)           (%)     (Mlb)   ($US/t)     (g/t)      (oz)
--------------------------------------------------------------
140               0.23       2.1       374       9.2   125,000
120               0.21       2.2       343       8.4   131,000
85                0.18       2.4       294       7.3   141,000
65                0.17       2.5       278       6.9   144,000
--------------------------------------------------------------
 
 
Main Homestake Deposit - Inferred Resources                             
------------------------------------------------------------------------
Cut Off              Tonnes        Au        Au        Ag             Ag
(NSR$/t)                        (g/t)      (oz)     (g/t)           (oz)
------------------------------------------------------------------------
140               1,158,000       8.2   307,000      42.1      1,568,000
120               1,357,000       7.4   325,000      37.7      1,646,000
85                2,031,000       5.6   369,000      28.6      1,868,000
65                2,240,000       5.3   380,000      26.7      1,920,000
------------------------------------------------------------------------
 
Main Homestake Deposit - Inferred Resources                   
--------------------------------------------------------------
Cut Off             Cu        Cu       NSR      AUEQ      AUEQ
(NSR$/t)           (%)     (Mlb)   ($US/t)     (g/t)      (oz)
--------------------------------------------------------------
140               0.33       8.4       375       9.2   341,000
120               0.31       9.4       339       8.3   362,000
85                0.31      13.9       260       6.4   415,000
65                0.30      14.7       243       5.9   428,000
--------------------------------------------------------------
 
 
Homestake Silver Deposit - Inferred Resources                           
------------------------------------------------------------------------
Cut Off              Tonnes        Au        Au        Ag             Ag
(NSR$/t)                        (g/t)      (oz)     (g/t)           (oz)
------------------------------------------------------------------------
140               2,250,000       3.8   278,000     190.4     13,774,000
120               2,802,000       3.5   317,000     168.8     15,202,000
85                4,402,000       2.8   403,000     130.4     18,460,000
65                5,384,000       2.5   437,000     117.8     20,394,000
-----------------------
-------------------------------------------------
 
Homestake Silver Deposit - Inferred Resources                 
--------------------------------------------------------------
Cut Off             Cu        Cu       NSR      AUEQ      AUEQ
(NSR$/t)           (%)     (Mlb)   ($US/t)     (g/t)      (oz)
--------------------------------------------------------------
140               0.03       1.6       258       6.6   478,000
120               0.03       1.9       233       6.0   537,000
85                0.03       2.5       185       4.7   671,000
65                0.02       2.8       165       4.2   733,000
--------------------------------------------------------------
 
 
South Reef Deposit - Inferred Resources                                 
------------------------------------------------------------------------
Cut Off              Tonnes        Au        Au        Ag             Ag
(NSR$/t)                        (g/t)      (oz)     (g/t)           (oz)
------------------------------------------------------------------------
140                 297,000      14.2   136,000       3.8         36,000
120                 311,000      13.7   138,000       3.7         37,000
85                  332,000      13.0   139,000       3.6         39,000
65                  341,000      12.8   140,000       3.6         39,000
------------------------------------------------------------------------
 
South Reef Deposit - Inferred Resources                       
--------------------------------------------------------------
Cut Off             Cu        Cu       NSR      AUEQ      AUEQ
(NSR$/t)           (%)     (Mlb)   ($US/t)     (g/t)      (oz)
--------------------------------------------------------------
140               0.04       0.3       571      14.3   137,000
120               0.04       0.3       551      13.8   138,000
85                0.04       0.3       523      13.1   140,000
65                0.04       0.3       512      12.8   141,000
--------------------------------------------------------------
 
 
Combined Main Homestake + Homestake Silver + South Reef Resources       
------------------------------------------------------------------------
                     Tonnes        Au        Au        Ag             Ag
                                (g/t)      (oz)     (g/t)           (oz)
------------------------------------------------------------------------
$140/t Cut-off                                                          
Indicated           421,000       8.1   109,000      62.7        849,000
Inferred          3,705,000       6.1   721,000     129.1     15,378,000
$120/t Cut-off                                                          
Indicated           482,000       7.4   115,000      57.0        883,000
Inferred          4,470,000       5.4   779,000     117.5     16,885,000
$85/t Cut-off                                                           
Indicated           604,000       6.4   124,000      48.3        939,000
Inferred          6,766,000       4.2   911,000      93.6     20,366,000
$65/t Cut-off                                                           
Indicated           652,000       6.0   127,000      46.5        973,000
Inferred          7,965,000       3.7   957,000      87.3     22,353,000
------------------------------------------------------------------------
 
Combined Main Homestake + Homestake Silver + South Reef Resources 
------------------------------------------------------------------
                    Cu        Cu       NSR      AUEQ          AUEQ
                   (%)     (Mlb)   ($US/t)     (g/t)          (oz)
------------------------------------------------------------------
$140/t Cut-                                                       
 off                                                              
Indicated         0.23    
   2.1       374       9.2       125,000
Inferred          0.13      10.3       320       8.0       956,000
$120/t Cut-                                                       
 off                                                              
Indicated         0.21       2.2       343       8.4       131,000
Inferred          0.12      11.6       287       7.2     1,037,000
$85/t Cut-                                                        
 off                                                              
Indicated         0.18       2.4       294       7.3       141,000
Inferred          0.11      16.3       224       5.6     1,226,000
$65/t Cut-                                                        
 off                                                              
Indicated         0.17       2.5       278       6.9       144,000
Inferred          0.10      17.8       202       5.1     1,301,000
------------------------------------------------------------------
 
Notes:
 
1.  Mineral Resources were constrained using a 2g/t AuEq grade shell. 
2.  CIM definitions were followed for Mineral Resources. 
3.  Mineral Resources are estimated using an average long-term gold price of
    US$1,500 per ounce Au, US$27 per ounce Ag, and US$3.50 per pound Cu,
    with an exchange rate of C$1.00=US$1.00. 
4.  NSR and Gold equivalence were calculated using Au, Ag and Cu
    metallurgical recoveries of 92% Au, 88% Ag and 88% Cu in blocks where
    Cu%greater than 0.1%; and where calculated using just Au and Ag
    recoveries in blocks with less than 0.1% Cu

 
High assays were capped, prior to compositing, at various levels
depending on the statistical characteristics of the individual zones. 
The Homestake Silver and South Reef resource estimates were entirely
classified as Inferred Mineral Resources. For all zones, blocks
qualified as at least Inferred if they fell within 75 m of a drill
hole intercept. In the Main Homestake, blocks within 20 m of the
nearest intercept, and estimated by at least two drill holes were
tagged as eligible for upgrade to Indicated. Polygons were manually
drawn around panels of contiguous Indicated-eligible blocks, which
were then upgraded to an Indicated classification.  
To view Figure 1, click on the following link:
http://media3.marketwire.com/docs/h424m.pdf 
About Homestake Resource Corporation 
Homestake owns a 100 percent interest in the Homestake Ridge project,
located in the Kitsault Mineral district in northwestern British
Columbia. The project is being advanced as a potential high-grade
underground mining operation. At an $85 NSR cut-off value and based
on drilling completed through 2012, the project contains an estimated
NI 43-101 compliant Indicated Resource of 124,000oz gold and
939,000oz silver (141,000oz AuEq) plus an Inferred Resource of
911,000oz gold and 20,366,000oz silver (1,225,785oz AuEq) at the Main
Homestake, Homestake Silver and South Reef deposits. Visit the
Company website at www.homestakeresource.com to see how the Homestake
Ridge resource estimate compares to gold deposits worldwide, as
ranked by Natural Resource Holdings (June 2012). 
To date, 251 holes were drilled for a total of 70,533 metres, and
multiple exploration targets remain to be tested on the large
2,585-hectare property. Agnico Eagle Mines Limited has assumed
project management since January 2013 under an option agreement
signed in August 2012 to fund exploration and development costs of
$25.3 million over a 5-year period to earn a 65% interest in the
property.  
Homestake holds an option to acquire a 100% interest in the
623-square-kilometre Kinskuch project, located adjacent to, and to
the southeast of, the Homestake Ridge project. Diamond drilling along
the Illiance trend on the Kinskuch property during 2011 was
successful in intersecting high-grade silver/lead/zinc VMS
mineralization in three of four holes. Surface soil and rock-chip
sampling along the trend in 2012 extended mineralization to a
4.5-kilometre strike-length; Homestake will be aggressively exploring
this trend in 2013. 
Homestake owns a 10.19 percent equity interest in Bravada Gold
Corporation (TSX VENTURE:BVA) which is exploring and developing
numerous gold/silver projects in several of Nevada's prolific gold
belts. At the advance-stage Wind Mountain project, BVA has received a
positive PEA from an independent engineering company for an
open-pit/heap-leach operation. Bravada is currently conducting
additional exploration at Wind Mountain under a funding and option
agreement with Argonaut Gold Corporation. 
Rob Macdonald (P.Geo.) is the Vice-President of Exploration for
Homestake and is the Qualified Person responsible for reviewing the
technical results in this release. David Rennie, P. Eng. and
Principal Geologist for Roscoe Postle Associates Inc., is the
Independent Qualified Person responsible for preparation and review
of the Mineral Resource Estimate. 
On behalf of the Board of Directors 
Joseph A. Kizis, Jr., Director, President, Homestake Resource
Corporation 
This news release may contain forward-looking statements including
but not limited to comments regarding the timing and content of
upcoming work programs, geological interpretations, receipt of
property titles, potential mineral recovery processes, etc.
Forward-looking statements address future events and conditions and
therefore involve inherent risks and uncertainties. Actual results
may differ materially from those currently anticipated in such
statements. These statements are based on a number of assumptions,
including, but not limited to, assumptions regarding general economic
conditions, interest rates, commodity markets, regulatory and
governmental approvals for the company's projects, and the
availability of financing for the company's development projects on
reasonable terms. Factors that could cause actual results to differ
materially from those in forward looking statements include market
prices, exploitation and exploration successes, the timing and
receipt of government and regulatory approvals, and continued
availability of capital and financing and general economic, market or
business conditions. Homestake Resource Corp. does not a
ssume any
obligation to update or revise its forward-looking statements,
whether as a result of new information, future events or otherwise,
except to the extent required by applicable law. 
We seek safe harbor. 
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the contents of this
news release, which has been prepared by management. 
Contacts:
Homestake Resource Corporation
Liana Shahinian
1-888-456-1112 or 604-641-2773
liana@mnxltd.com
www.homestakeresource.com
 
 
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