HSR

THIS NEWS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION
TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT
CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. 


Homestake Resource Corporation (TSX VENTURE:HSR)(FRANKFURT:B6IH) ("Homestake" or
the "Company")  has closed the first tranche of its previously announced private
placement by issuing 10,700,000 units at a price of $0.05 per unit for gross
proceeds of $535,000. Each unit consists of one common share and one share
purchase warrant, with each warrant exercisable to purchase one additional
common share at an exercise price of $0.05 for a period of 3 years. All
securities issued in this tranche of the financing include a legend restricting
trading of the securities until December 6, 2014. The Company will pay finders'
fees on a portion of the financing. The financing and payment of finders' fees
is subject to TSX Venture Exchange acceptance. A second tranche of the financing
is expected to close within the next week.


The net proceeds from this private placement will be used for the continued
exploration of the Kinskuch Project and for general working capital purposes. 


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


Robert Macdonald, MSc., PGeo., is Homestake's Vice President of Exploration and
is the Qualified Person responsible for the supervision and preparation of the
technical information in this disclosure.


On behalf of the Board of Directors,

"Joseph Anthony Kizis, Jr." 

President & Director

Homestake Resource Corporation

About Homestake Resource Corporation

Homestake Resource Corporation is a Canadian-based exploration company which
operates two major projects totaling 661 sq. km in the emerging Kitsault Mineral
District. The primary asset is the Homestake Ridge Project, a gold-rich
epithermal/VMS-related vein system containing NI 43-101 compliant resource
estimates. The Company has entered into an option with Agnico Eagle Mines
Limited to fund exploration and development costs of $25.3 million by December
31, 2017 to earn a 65% interest in the property. Homestake Resource Corporation
is affiliated with Manex Resource Group, a private company comprised of an
exceptional multi-disciplinary team of professionals, with specific expertise in
all the areas of exploration, development and public company administration.


THIS NEWS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION
TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT
CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE
NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED,
OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED
STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.


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
Joseph Anthony Kizis, Jr.
President & Director
+1 (604) 684-9384
+1 (604) 688-4670 (FAX)
info@mnxltd.com
www.homestakeresource.com

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