Humboldt Reports Results for the Three Months Ended March 31, 2013

Humboldt Capital Corporation (TSX VENTURE:HMB) is pleased to report that for the
three months ended March 31, 2013, Humboldt recorded a net gain of $1.2 million
on the sale of investments and ended the quarter with cash reserves of $6.4
million. This will provide the Company with financial flexibility for new
investments during this period of weak stock prices in commodity related
entities. During Q1 2013 Humboldt reported a reduction in the unrealized value
of its investment portfolio of $6.3. As a result Humboldt reported a loss of
$5.3 million, or $0.44 per share for the three months ended March 31, 2013.


The Company's net asset value at March 31, 2013 was $28.0 million, or $2.34 per
share compared to $33.3 million or $2.77 per share a year earlier.


Subsequent to the end of Q1 2013 a significant event was announced involving two
of Humboldt's related portfolio holdings. Tuscany Energy Ltd and Diaz Resources
Ltd. announced that, subject to obtaining shareholder approvals, court approval
and regulatory approvals, Tuscany would acquire all the outstanding common
shares of Diaz in exchange for common shares of Tuscany, on the basis of 0.31 of
a common share of Tuscany for each common share of Diaz. Following the
completion of the acquisition Tuscany intends to consolidate its common shares
on the basis of one new share for every eight common shares outstanding.
Assuming the acquisition is completed as proposed Humboldt will hold 43% of
Tuscany's outstanding common shares. Humboldt believes this is a very positive
development for the companies as it will result in a larger well financed
company with increased operating efficiencies and reduced overhead and Humboldt
has agreed to vote its shares in favor of the proposed transaction.


Humboldt Financial Statements and Management's Discussion and Analysis for the
three months ended March 31, 2013 have been filed on SEDAR and can be found on
Humboldt's website at www.humboldtcapital.com.


HIGHLIGHTS 



                                              Three months ended March 31,  
                                             -------------------------------
                                                                            
(Thousands, except per share amounts)             2013       2012      2011 
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Net gain on sale of investments              $   1,199  $   3,299 $   2,475 
                                                                            
Unrealized increase (decrease) in investment                                
 value                                       $  (6,340) $     627 $  (2,175)
                                                                            
Earnings (Loss) and comprehensive earnings                                  
 (Loss) for the period                       $  (5,299) $   3,876 $     220 
  Earnings (Loss) per share, diluted         $   (0.44) $    0.32 $    0.02 
Share capital                                $   2,060  $   2,062 $   2,012 
Retained earnings                            $  25,335  $  45,352 $  60,184 
Shareholders' equity                         $  28,048  $  48,003 $  62,803 
Cash and cash equivalents                    $   6,443  $   6,419 $   7,465 
                                                                            
Shares outstanding                              11,932     11,957    11,990 
Net asset value per share, diluted           $    2.34  $    3.95 $    5.04 
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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).


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)
www.humboldtcapital.com