News Releases

February 06, 2014

Highway 50 Increases Private Placement and Amends Terms

Vancouver, British Columbia

Highway 50 Gold Corp. (TSX.V -- HWY) February 6, 2014

Highway 50 Gold Corp. ("Highway 50" or the "Company") is pleased to announce that the Company has increased the size of its previously announced non-brokered private placement from gross proceeds of $900,000 to up to $2,600,000 (the "Offering") through the sale of 7,027,025 units (each a "Unit") at a revised purchase price of $0.37 per Unit. Each Unit will now consist of one common share of the Company and one non-transferable common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to purchase one additional common share of the Company (a "Warrant Share") at an exercise price of $0.60 per Warrant Share for a reduced exercise period of 12 months following the closing of the Offering (the "Closing Date").

In connection with the Offering, the Company will pay to arm's length finders (the "Finders") a finder's fee equal to 7% of the gross proceeds of the Offering, payable in cash or Units at the election of the Finders. In addition, the Finders will receive finder's options (each, a "Finder's Option") exercisable for a period of 12 months following the Closing Date to acquire such number of common shares of the Company (each, a "Finder's Share") as is equal to 7% of the number of Units sold under the Offering, at a purchase price of $0.45 per Finder's Share.

On December 20, 2013, the Company also announced that it had reached an agreement with Regulus Resources Inc. ("Regulus"), whereby the Company will grant to Regulus an option to earn a 50% interest in the Company's Golden Brew property (the "Option"). Regulus had also agreed to purchase 2,000,000 units in the Company for gross proceeds of $900,000 on the terms previously announced. As a result of the revised terms of the Offering, the aggregate purchase price payable by Regulus for the 2,000,000 Units will reduce from $900,000 to gross proceeds of $740,000 issuable on the terms set out above, and Regulus will no longer receive a pre-emptive right in future financings conducted by the Company. The Company and Regulus are proceeding to finalise the terms of the formal option agreement.

The Offering and the grant of the Option is subject to the acceptance of the TSX Venture Exchange. All securities issued in connection with the Offering will be subject to a hold period expiring four months and one day following the Closing Date.

The net proceeds from the Offering will be primarily used for further development of the Company's Porter Canyon property and for general working capital purposes.

For additional information:

Gordon P. Leask, P.Eng. President and CEO Highway 50 Gold Corp. Tel: 604.681.4462

Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. Investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. 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, the expected use of proceeds from the Offering, 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.