Agnico Eagle to Commence Homestake Ridge Drilling Program in July

Homestake Resource Corporation (TSX VENTURE:HSR)(FRANKFURT:B6I) ("Homestake" or
"the Company") reported today that optionee Agnico Eagle Mines Ltd. ("Agnico
Eagle") has notified the Company that it has commenced camp construction, with
field-crew mobilization to follow and drilling to begin in early July at the
Homestake Ridge property. The planned $3.5 million program is Agnico Eagle's
spending commitment for 2013 under an option agreement signed in August 2012,
funding exploration and development costs of $25.3 million over a 5-year period
in order to earn a 65% interest in the property.


Recently completed geological and geochemical studies, commissioned by Agnico
Eagle, have identified several target areas for detailed mapping, rock and soil
sampling, geophysics, and drilling. Initial surface exploration will focus on
the "Eskay Horizon" in the upper Hazelton stratigraphy, which is exposed for
several kilometers of strike-length on the property. Limited drilling of this
horizon by Homestake in 2009-10 intersected thick intervals of altered felsic
rocks with strong silver enrichment over 10's of metres in two holes. In
addition, several areas of known mineralization, such as the South Reef
resource, will be drilled along strike and down dip where not yet tested. Agnico
Eagle expects to drill approximately 6,000m during the season. Some additional
ground geophysics is contemplated to augment earlier IP/resistivity surveys and
a property-wide airborne AeroTEM III survey conducted by Homestake.


The Company's systematic exploration of the Homestake Ridge property since 2003
has resulted in the discovery of three significant deposits of gold, silver, and
copper, making it one of the top undeveloped, higher-grade deposits in the
world. Several other high-quality exploration targets exist on the property,
which could develop into additional deposits.


To view Figure 1: Cascading Longitudinal Sections of Deposit Growth at Homestake
Ridge 2003-13, click here: http://media3.marketwire.com/docs/hsr%20figure.png.


About Homestake Resource Corporation

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, 251 holes were drilled for a total of 70,533 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. 


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 4.5-kilometre
strike-length; Homestake plans to aggressively explore this trend in 2013.


Homestake owns a 10.19 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., Director, President, Homestake Resource Corporation



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 Corp. 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.


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.


"A MANEX RESOURCE GROUP COMPANY"

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