Humboldt Reports Earnings for the Three Months Ended March 31, 2011

Humboldt Capital Corporation (TSX VENTURE:HMB)

Humboldt is pleased to report continued growth for the first quarter of 2011. At
the quarter end, shareholders' equity had increased to $62.8 million or
$5.04/share, fully diluted, compared with $47.3 million or $3.86/share reported
in Q1 2010.


Humboldt closed the quarter with $7.5 million of working capital, equivalent to
12% of its asset value.


At the time of writing, the market is going through a normal early spring
corrective phase with continued debt issues in Europe increasing general
concern. In addition, China may be entering a slower growth phase, which
negatively impacts the outlook for commodity prices.


However, the overall trend for economic growth is intact, with a steadily
improving outlook virtually worldwide. Prevailing low interest rates, policies
promoting economic stimulus, as well as improving confidence in key economic
jurisdictions should lead to continued economic growth. Economic policies in the
United States should also be relatively accommodative due to 2011 being a key,
pre- election year.




Highlights
                                                Three Months Ended March 31
                                             -------------------------------
(Thousands, except per share amounts)              2011      2010      2009
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Earnings and comprehensive earnings for
 the period                                    $    220  $    642  $  1,703
 Earnings per share, diluted                   $   0.02  $   0.05  $   0.14
Share capital                                  $  2,012  $  2,033  $  2,042
Retained earnings                              $ 60,184  $ 43,283  $ 31,345
Shareholders' equity                           $ 62,803  $ 47,336  $ 35,328
Cash and cash equivalents                      $  7,465  $  9,408  $ 21,476

Shares outstanding                               11,990    12,115    12,169
Net asset value per share, diluted             $   5.04  $   3.86  $   2.82
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Humboldt Financial Statements and Management's Discussion and Analysis for the
three months ended March 31, 2011 have been filed on SEDAR and can be found on
Humboldt's website at www.humboldtcapital.com.


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.