Humboldt Reports Results for the Year Ended December 31, 2013

CALGARY, ALBERTA--(Marketwired - April 17, 2014) - Humboldt Capital Corporation (TSX VENTURE:HMB) -

2013 was a pivotal year for Humboldt and it accomplished a number of goals, some of which it had focussed on for the past 3 years. These comprised of:

• Maintaining and increasing the Company's liquidity,
  
  

• Commenced restructuring the Company's portfolio to focus more on international energy companies and less on mining investments and, most importantly,
  
  

• Supporting the restructuring one of the Company's related companies; Tuscany Energy Ltd., into a viable growing heavy oil development company.
  
  

To accomplish these goals, Humboldt began reducing some of its holdings throughout the year as their stock price targets were met. Due to the Company's long term view of holding both energy and mining companies until certain goals are reached, only a small portion of the portfolio was liquidated which resulted in the Company's cash reserves totalling $7.4 million at year end. The Company has continued this program, and presently has approximately $8.4 million on hand.

As a result of a $3.5 million reduction in the value of the holdings of Diaz Resources Ltd., combined with declines in value of Humboldt's holdings in International oil companies and mining shares, the Company recorded a loss of $7.9 million for 2013. Humboldt reported a net asset value of $25 million or $2.13 per share at the end of 2013.

Highlights
		Year ended December 31, 2013
(Thousands, except per share amounts)		2013			2012			2011
Net gain (loss) on sale of investments		$	(10,650	)	$	4,208		$	3,198
Unrealized Increase (decrease) in investment Value		$	3,571		$	(11,664	)	$	(22,421	)
Loss and comprehensive Loss for the period		$	(7,881	)	$	(10,842	)	$	(18,488	)
	Loss per share, diluted	$	(0.66	)	$	(0.91	)	$	(1.54	)
Share capital		$	2,060		$	2,060		$	2,064
Retained earnings		$	22,753		$	30,634		$	41,476
Shareholders' equity		$	25,476		$	33,338		$	44,123
Cash and cash equivalents		$	7,329		$	5,663		$	2,125
Shares outstanding			11,932			11,932			11,957
Net asset value per share, diluted		$	2.13		$	2.77		$	3.64

Humboldt Financial Statements and Management's Discussion and Analysis for the year ended December 31, 2013 have been filed on SEDAR and can be found on Humboldt's website at www.humboldtcapital.com.

Forward-looking statements - the press release today contains "forward-looking" information. Actual results could differ materially from the conclusions, forecasts or projections in the forward-looking information. Certain material factors and assumptions were applied in drawing the conclusions or making the forecasts or projections as reflected in the forward-looking information. Additional information about the material factors that could cause actual results to differ materially from the conclusion, forecast or projection in the forward-looking information and the material factors or assumptions that were applied in drawing the conclusion or making the forecast or projection as reflected in the forward-looking information is contained in the press release.

Where amounts are expressed on a barrel of oil equivalent (boe) basis, natural gas volumes have been converted to barrels of oil at six thousand cubic feet (mcf) per barrel (bbl). Boe figures may be misleading, particularly if used in isolation. A boe conversion of six thousand cubic feet per barrel is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. References to oil in this discussion include crude oil and natural gas liquids (NGLs).

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