HSR

Homestake Resource Corporation (TSX VENTURE:HSR)(FRANKFURT:B6I) ("Homestake" or
"the Company") reports that it has entered into a share exchange agreement with
Global Resources Investments Ltd. ("GRIL"), an arm's length party to Homestake.


GRIL has been established to exploit investment opportunities in the junior
mining and natural resources sectors worldwide, with an investment objective to
generate medium and long-term capital growth. GRIL will re-register as a public
company and be constituted as an investment trust with the name Global Resources
Investment Trust Plc ("GRIT") and seek admission of its ordinary shares on the
main market for listed securities on the London Stock Exchange.  


Pursuant to the share exchange agreement, GRIT will issue and deliver to
Homestake 347,329 ordinary shares of GRIT at a deemed price of GBP 1.00 per
share (the "GRIT Shares") in exchange for the issuance of 8,000,000 units of
Homestake at a deemed price of GBP 0.0434 (approximately $0.07) per unit. Each
unit consists of one common share and one common share purchase warrant
exercisable at $0.10 per share for a period of 2 years. Homestake will, at its
election, sell the GRIT Shares through the facilities of the London Stock
Exchange to realize proceeds of the transaction. 


Closing of the transaction is subject to a number of conditions precedent,
including approval of the TSX Venture Exchange, and GRIT successfully listing on
the London Stock Exchange.


FH Property Acquisition 

Homestake has entered into an option agreement with private optionors to acquire
a 100% interest in the FH property in consideration for making payments of
$100,000 over a five year period and issuing 250,000 common shares in the
capital of the Company over a three year period. The optionors retain a 2% net
smelter return royalty with respect to the FH property and Homestake may
purchase up to half of such royalty from the optionors at any time for
$1,000,000. The option agreement is subject to TSX Venture Exchange acceptance. 


The 109 hectare FH claim is contiguous with and entirely surrounded by
Homestake's Kinskuch claims and is centered on an 8 kilometre-long diorite
intrusion of possible Jurassic age, which forms the southern extension of the 35
kilometre-long "Copper Belt" within the Kitsault Mineral district. Farther to
the northwest, the Copper Belt hosts mineral deposits at the Company's Homestake
Ridge Project and Dolly Varden Silver Corporation's, Dolly Varden Project.
Intrusions of similar age and composition host, or are spatially associated
with, major mineral deposits throughout the region, including the Company's
Homestake Ridge deposit, the Silbak-Premier deposit (Ascot Resources Ltd.), the
Red Mountain Deposit (Banks Island Gold Ltd.), and the Brucejack - KSM Projects
(Pretium Resources Inc. - Seabridge Gold Ltd.). 


Mineralization was first recognized on the FH property in the early 1900's. On
surface, prominent gossanous cliffs consist of sericite-pyrite-carbonate
-altered diorite in contact with sandstone and argillite. The altered rock
contains abundant pyrite, and up to 2% chalcopyrite. Historic records report
results of up to 14 metres averaging 2.6% copper and 0.96 g/t gold from drilling
in 1916. The precise location of the drilling is unknown, however, and the
assays remain unverified by Homestake. A 12 metre chip sample from the same area
reportedly returned 0.7% copper and 2.0g/t gold. 


More recent work included soil sampling, which delineated a 1350m x 500m
Cu-Au-Mo +/- Ag anomaly over the mineralized diorite. Four drill holes from a
single pad within the soil anomaly in 2008 returned anomalous copper and gold
mineralization within the phyllic- to potassic-altered intrusion, including 41
metres averaging 0.11g/t gold and 0.12% copper. 


The FH claim will form part of the larger FH Cu-Au porphyry project, one of
three target areas identified by the Company within the Kinskuch property. The
Company plans an immediate review of the 2008 drill core and some surface work
in preparation for a more robust exploration program in 2014. 


Kitsault Mineral District

The Kitsault Mineral District is an approximately 40-kilometer-long mineral belt
underlain by prospective Stuhini and Hazelton Group stratigraphy located to the
south of the Cambria Ice Fields in northwestern British Columbia. Major deposits
in the district include the Kitsault Molybdenum project (Avanti Mining Inc.),
the Dolly Varden project (Dolly Varden Silver Corp./Hecla Mining Ltd.) and the
Homestake Ridge project (Homestake Resource Corp./Agnico Eagle). Historic
production in the district dates back to the early 1900's.


To view Figure "Location of the FH claims, Kitsault Mineral District" please
visit the following link: http://media3.marketwire.com/docs/902340i.pdf 


Corporate News

Frederick Sveinson and Terrence Eyton have tendered their resignations as
directors of Homestake in order to pursue other opportunities. The board of
directors thanks Messrs. Sveinson and Eyton for their valuable contributions to
the Company and wishes them both every success in the future.  


Rob Macdonald (P.Geo.) is the Qualified Person responsible for reviewing the
technical results in this release and has approved its disclosure. 


On behalf of the Board of Directors,

Joseph A. Kizis, Jr., President & Director

Homestake Resource Corporation

For further information, please visit the company's website at
www.homestakeresource.com.


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.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Homestake Resource Corporation
Liana Shahinian
1-888-456-1112 or 604-641-2773
liana@mnxltd.com
www.homestakeresource.com

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