Humboldt Reports Earnings for the Six Months Ended June 30, 2012

Humboldt Capital Corporation (TSX VENTURE:HMB)

Humboldt is pleased to report a net gain on sale of investments of $5.5 million,
for the first half of 2012. As a result of these sales Humboldt reported cash
and equivalents had increased to $8.5 million by the end of Q2 2012, the
Company's highest level of liquidity in over two years. This provides the
Company with ample flexibility for new investments during this protracted period
of weak stock prices in commodity related industries.


Due to an overall reduction of the value of Humboldt's shareholdings, the
Company's equity was reduced to $38.6 million or $3.19 per share, fully diluted,
compared with $48.0 million or $3.95 at the end of Q1 2012 and $44.3 million and
$3.64 at the end of 2011.


The market continues to be in a cyclical downturn or "sell in May" event. This
has been triggered by concerns over European sovereign debt and uncertainty
regarding worldwide growth prospects. Specifically, the market has been
negatively impacted by monetary tightening in China and a concern that Chinese
growth could significantly slow. In addition, the debt liquidation fear in
Europe has led to a softening of demand across the commodity spectrum. The
foregoing concerns have spilled over into the pricing of most commodity stocks
and resulted in a reduction in their values. The market decline in mid-2012 has
been the most significant since 2009.


Humboldt anticipates that these extremely low stock valuations will be corrected
this fall and that an upward move in the US economy will lead to significantly
higher stock prices by the end of the current year.


Outlook

Humboldt is currently in an enviable position, with a cash balance of over $8.0
million which will allow it to benefit from any significant economic and 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.


Humboldt Financial Statements and Management's Discussion and Analysis for the
six months ended June 30, 2012 have been filed on SEDAR and can be found on
Humboldt's website at www.humboldtcapital.com




HIGHLIGHTS                                                                  
                                              Six Months Ended June 30      
                                        ------------------------------------
(Thousands, except per share amounts)          2012        2011        2010 
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Net gain on sale of investments           $   5,516   $   3,919   $   1,312 
Unrealized increase (decrease) in                                           
 investment value                         $ (10,788)  $ (13,460)  $  (2,831)
Earnings and comprehensive earnings for                                     
 the period                               $  (5,601)  $  (8,830)  $  (1,727)
  Earnings per share, diluted             $   (0.47)  $   (0.74)  $   (0.14)
Share capital                             $   2,062   $   2,012   $   2,015 
Retained earnings                         $  35,875   $  51,134   $  59,964 
Shareholders' equity                      $  38,566   $  53,805   $  62,605 
Cash and cash equivalents                 $   8,510   $     843   $   6,497 
Shares outstanding                           11,957      11,990      12,008 
Net asset value per share, diluted        $    3.19   $    4.34   $    5.01 
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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).


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THE ADEQUACY OR ACCURACY OF THIS RELEASE.