New High-Grade Drill Intercept Points to Fourth Mineral Deposit at Homestake Ridge

Homestake Resource Corporation (TSX VENTURE:HSR)(FRANKFURT:B6IH) ("Homestake" or
the "Company") reported today that optionee Agnico Eagle Mines Limited ("Agnico
Eagle") has provided the Company with results of the 2013 exploration program
for the Homestake Ridge project. The highlight of the program is a bonanza-grade
silver intercept in drilling southeast of the Homestake Silver Deposit that
appears to be the edge of a new mineral deposit, possibly on the same structure
or on a parallel structure to the one hosting the Main Homestake and Homestake
Silver deposits. Hole HR13-253 contains a 18.6 metre interval averaging 101.8
g/t silver from 364.4 to 383.0 metres down hole, including a 0.5 metre interval
averaging 1,675.0 g/t silver from 364.4 to 364.9 metres (the true thickness has
not been determined yet).


The bonanza-grade silver drill intercept is in an area referred to as the Slide
Target, which is located 400 metres to the south of the Homestake Silver
deposit. Elevated silver values and strongly anomalous pathfinder minerals, such
as antimony, barium and arsenic, were returned from two holes drilled up-dip
from the bonanza-grade intercept. These holes contain similar pathfinder values
to those present in holes located adjacent to the Homestake Silver deposit. A
lateral offset (i.e. HR13-258) to the interval was terminated as the drill
deviated from its intended direction and could not reach the projected target.
This hole still ended in anomalous silver mineralization of up to 14g/t Ag over
a 1.00 metre interval (469.5 to 470.5 metres).


The mineralized interval comprises a series of colloform banded quartz-carbonate
veins containing galena (lead), sphalerite (zinc), pyrite, chalcopyrite (copper)
and black sulphosalts (silver) with a distinct epithermal vein character,
similar in style to veins most closely associated with upper portions and
lateral margins of the nearby Homestake Silver deposit (4.4Mt grading 2.8g/t
gold and 130.4g/t silver at an $85NSR cut-off). The intercept occurs at 275
metres vertically below surface. 


Agnico Eagle has been operating the project since January 2013 as a continuation
of the 2012 Option Agreement on the property. The 2013 exploration program
included:




--  3,947 metres of core drilling in 10 holes distributed widely at the
    property (see attached map); 
--  surface mapping and prospecting throughout the property; 
--  soil sampling over previously untested areas; and 
--  the completion of 18.9 line-kilometres of IP/Res geophysics over several
    target areas, including the Homestake Main, Homestake Silver, and South
    Reef Zones. 



Work by Agnico Eagle in 2013 was designed primarily to examine several new areas
and deposit types throughout the property. Mapping positively identified a
multi-kilometre strike-length of what has been interpreted to be equivalent to
the "Eskay Creek" horizon in the upper Hazelton stratigraphy in two areas on the
property, including a large lense of sedimentary rocks located to the south of
the Homestake Silver deposit. Four holes tested this sedimentary package with
Hole HR13-252 returning 82.5 metres averaging 1,580ppm zinc, indicating possible
proximity to a previously undetected VMS system.


Drilling also tested a geophysical anomaly adjacent to the Main Homestake Zone,
the stratigraphy east of the deposits, the North Dome area, and the stratigraphy
to the northwest of the South Reef deposit. 


Work by Agnico Eagle also highlighted stratigraphic and metallogenic
similarities between the Homestake Ridge project and several other major
deposits throughout the Hazelton belt of northwestern British Columbia,
including the Dolly Varden Deposit located 8 kilometres to the southeast,
Kerr-Sulphurets-Mitchell (64 Moz. Au, 370 Mozs. Ag and 16 Blbs. Cu) and
Brucejack projects (14 Mozs. Au and 63 Moz. Ag) located approximately 80
kilometres to the northwest of the property, which are currently being explored
and developed by Seabridge Gold and Pretium Resources Inc. 


Vice President of Exploration Rob Macdonald noted, "Of 262 holes drilled on the
project by Homestake and Agnico Eagle, 31 holes, including currently reported
hole HS13-253, contain intervals of bonanza-grade silver mineralization, that
being over 500g/t Ag. It is important to note that 29 of these 31 holes occur
within the Main Homestake or Homestake Silver deposits, one of these holes lies
between those two deposits, and the other hole is HS13-253. That spatial
relationship, along with vectors from the few existing nearby drill holes,
indicates to us that we are on the edge of the next high-grade gold/silver
deposit at Homestake Ridge. These types of deposits typically form as discrete
mineral deposits along important structures that together can form multi-million
ounce mining camps."


Corporate Update

Homestake Resource Corporation is pleased to announce the appointment of Nazlin
Rahemtulla as a director of the Company. Ms. Rahemtulla is an Independent
Business Consultant. Previously, she was the Human Resources Manager at Gowling
Lafleur Henderson; Chief Operating Officer of Weiler Smith Bowers Consulting
Structural Engineers; Vice-President and Chief Operating Officer of The McLean
Group; acted as Investment Advisor for RBC Financial Group (RBC Dominion
Securities Inc); and served as Manager, International Services for RBC Global
Private Banking. Ms. Rahemtulla has a Diploma in Business Administration from
St. Godricks College in London, England and earned a Fellowship from the
Institute of Canadian Bankers ("FICB").


Homestake Ridge Deposit

Homestake owns a 100 percent interest in the Homestake Ridge project, located in
the Kitsault Mineral district in northwestern British Columbia, subject to
various royalty interests held by vendors. 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 @ 7.3g/t AuEq grade) plus an Inferred Resource of 911,000oz gold
and 20,366,000oz silver (1,225,785oz AuEq @ 5.6g/t AuEq grade) in three
deposits(1). 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, 262 holes were drilled for a total of 74,973 metres, and multiple
exploration targets remain to be tested on the large 3,617 -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.


About Homestake Resource Corporation

Homestake holds an option to acquire a 100% interest in the 645-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 +4.0-kilometre
strike-length; Homestake will be aggressively exploring this trend in 2014.


Homestake owns a 10 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. 


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. 


On behalf of the Board of Directors,

Joseph A. Kizis, Jr., President & Director, Homestake Resource Corporation

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release.




(1)  The current estimate was prepared by Roscoe Postle Associates Inc.     
     (RPA). Mineral Resources utilize three separate block models           
     constrained by 3D wireframes of the mineralized zones. The block models
     are comprised of an array of blocks measuring 5 m x 5 m x 5 m, with    
     grades for Au, Ag, Cu, AuEq and NSR values interpolated using ID3      
     weighting. The models identified an indicated resource of 604,000      
     tonnes averaging 6.4g/t Au, 48.3g/t Ag and 0.18% Cu and a cumulative   
     inferred resource of 6,765,000 tonnes averaging 4.2g/t Au, 93.6g/t Ag, 
     0.11% Cu. David Rennie (P. Eng.) is the Principal Geologist for Roscoe 
     Postle Associates Inc. and is the Independent Qualified Person         
     responsible for preparation and review of the Mineral Resource         
     Estimate.                                                              



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 Corporation does not assume 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.


Figures are available at the following address:
http://media3.marketwire.com/docs/913728_Figures.pdf 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Homestake Resource Corporation
604-684-9384
[e-mail]
www.homestakeresource.com