Humboldt Reports Earnings for the Nine Months Ended September 30, 2013

Humboldt Capital Corporation (TSX VENTURE:HMB)

For Q3 2013 Humboldt recorded earnings of $2.9 million or $0.25 per share and
its net asset value was $25.8 million or $2.16/share, compared with $35.3
million or $2.93/share at September 30, 2012. For the nine month period Humboldt
reported a loss of $7.0 million and the Company's net asset value declined from
$33.3 million or $2.77/share at the beginning of the year.


Humboldt ended the period with cash reserves of $7 million. This will provide
the Company with financial flexibility for new investments during this period
for weak stock prices in commodity related entities.


During Q3 2013 two of Humboldt's related portfolio companies completed a
significant transaction. Tuscany Energy Ltd. ("Tuscany") acquired all the
outstanding shares of Diaz Resources Ltd. ("Diaz") in exchange for common shares
of Tuscany. Tuscany then consolidated its common shares on the basis of one new
share for every eight common shares outstanding. Humboldt holds approximately
8.0 million post consolidated shares, representing 44.3% of Tuscany's
outstanding common shares. Humboldt believes the combination of the companies is
a very positive development for as it will result in a larger well financed
company with increased operating efficiencies and reduced overhead. Subsequent
to the completion of the acquisition Tuscany has completed drilling three heavy
oil development wells in the Macklin and Evesham area of Saskatchewan. The
market value of Humboldt's investment in the companies has increased by $1.6
million, from June 30, 2013 to September 30, 2013.


Humboldt is optimistic that the US economy will continue to steadily expand.
Growth should continue until a there is a significant increase in US interest
rates.


A key element of US GDP is the housing industry, which is now growing at the
most rapid pace since the last recession. This industry is capable of adding
large scale employment as well as demand for various commodities to the overall
economy and hence, is a key factor in our positive outlook.


Humboldt is currently in an enviable position, with a cash balance of $7.0
million, which should allow it to weather any significant new economic or stock
market set back. From this position of strength Humboldt plans to continue to
upgrade the quality of its holdings while reducing its portfolio diversity over
the next year.




HIGHLIGHTS                                                                  
                                                                            
                 Selected Quarterly Information (Unaudited)                 
                    (Thousands, except per share amounts)                   
                         For the Three Months Ended                         
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                                                    2013                    
                                --------------------------------------------
                                   Sept 30    June 30    Mar. 31    Dec. 31 
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Gain (loss) on sale of                                                      
 investments                      $(10,639)  $ (1,634)  $  1,199   $ (1,279)
Unrealized Gain (loss) in                                                   
Investment Value                  $ 13,740   $ (3,228)  $ (6,340)  $ (1,518)
Gain (loss) on debenture          $      -              $      -   $  1,236 
Other revenue                     $     30   $     23   $     75   $   (101)
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Total revenue                     $  3,131   $ (4,839)  $ (5,066)  $ (1,662)
General and administrative        $    172   $    321   $    195   $    226 
Earnings (loss)                   $  2,948   $ (5,180)  $ (5,299)  $ (1,922)
 per share, basic                 $   0.25   $  (0.43)  $  (0.44)  $  (0.16)
 per share, diluted               $   0.25   $  (0.43)  $  (0.44)  $  (0.16)
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HIGHLIGHTS                                                                  
                                                                            
                 Selected Quarterly Information (Unaudited)                 
                   (Thousands, except per share amounts)                    
                         For the Three Months Ended                         
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                                               2012                 2011    
                                --------------------------------------------
                                   Sept 30     June 30    Mar. 31   Dec. 31 
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Gain (loss) on sale of                                                      
 investments                      $    (29)  $   2,217   $  3,299  $ (1,147)
Unrealized Gain (loss) in                                                   
Investment Value                  $    642   $ (11,415)  $    627  $  3,126 
Gain (loss) on debenture          $ (4,032)  $       -   $      -  $      - 
Other revenue                     $    326   $     222   $    201  $    207 
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Total revenue                     $ (3,093)  $  (8,976)  $  4,127  $  2,186 
General and administrative        $    178   $     432   $    191  $    133 
Earnings (loss)                   $ (3,319)  $  (9,477)  $  3,876  $  2,014 
 per share, basic                 $  (0.28)  $   (0.79)  $   0.32  $   0.17 
 per share, diluted               $  (0.28)  $   (0.79)  $   0.32  $   0.17 
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                 Selected Quarterly Information (Unaudited)                 
                    (Thousands, except per share amounts)                   
----------------------------------------------------------------------------
                           As at the Period Ended                           
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                                                      2013                  
                                      Sept. 30   June 30   Mar. 31   Dec. 31
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Cash and cash equivalents            $   6,964  $  7,271  $  6,443  $  5,663
Share Capital                        $   2,060  $  2,060  $  2,060  $  2,060
Retained earnings                    $  23,103  $ 20,155  $ 25,335  $ 30,634
Net asset value                      $  25,822  $ 22,871  $ 28,048  $ 33,338
 per share, basic                    $    2.16  $   1.92  $   2.35  $   2.79
 per share, diluted                  $    2.16  $   1.92  $   2.34  $   2.77
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                 Selected Quarterly Information (Unaudited)                 
                    (Thousands, except per share amounts)                   
----------------------------------------------------------------------------
                           As at the Period Ended                           
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                                                 2012                2011   
                                       Sept 30   June 30   Mar. 31   Dec. 31
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Cash and cash equivalents            $   6,983  $  8,510  $  6,419  $  2,125
Share Capital                        $   2,060  $  2,062  $  2,062  $  2,064
Retained earnings                    $  32,556  $ 35,875  $ 45,352  $ 41,476
Net asset value                      $  35,251  $ 38,566  $ 48,003  $ 44,123
 per share, basic                    $    2.95  $   3.23  $   4.01  $   3.69
 per share, diluted                  $    2.93  $   3.19  $   3.95  $   3.64
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Neither the TSX Venture Exchange nor its Regulation Service 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 statements - the press release today contains "forward-looking"
information. Actual results could differ materially from the conclusions,
forecasts or projections in the forward-looking information. Certain material
factors and assumptions were applied in drawing the conclusions or making the
forecasts or projections as reflected in the forward-looking information.
Additional information about the material factors that could cause actual
results to differ materially from the conclusion, forecast or projection in the
forward-looking information and the material factors or assumptions that were
applied in drawing the conclusion or making the forecast or projection as
reflected in the forward-looking information is contained in the press release.


Where amounts are expressed on a barrel of oil equivalent (boe) basis, natural
gas volumes have been converted to barrels of oil at six thousand cubic feet
(mcf) per barrel (bbl). Boe figures may be misleading, particularly if used in
isolation. A boe conversion of six thousand cubic feet per barrel is based on an
energy equivalency conversion method primarily applicable at the burner tip and
does not represent a value equivalency at the wellhead. References to oil in
this discussion include crude oil and natural gas liquids (NGLs).


THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS RELEASE.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Humboldt Capital Corporation
R.W. Lamond
Chairman of the Board
[phone]
[phone] (FAX)


Humboldt Capital Corporation
C.A. (Tony) Teare
Executive Vice President
[phone]
[phone] (FAX)