DGAP-News

PC Gold Intersects 137.19 g/t Au (4.00 Oz/Ton) Over 1.00 m (3.3 Ft)in the No. 22 Vein at Pickle Crow Property in NW Ontario (deutsch)

PC Gold Intersects 137.19 g/t Au (4.00 Oz/Ton) Over 1.00 m (3.3 Ft)in the No. 22 Vein at Pickle Crow Property in NW Ontario

PC Gold Inc. / Key word(s): Miscellaneous

05.03.2012 18:44

---------------------------------------------------------------------------

TORONTO, ONTARIO -- (Marketwire) -- 03/05/12 -- PC Gold Inc. (TSX:

PKL)(FRANKFURT: AJ2) ('PC Gold' or the 'Company') is pleased to

report preliminary results from the 2012 winter drill program, which

has intersected additional high-grade mineralization in the newly

identified No. 22 Vein (444.38 g/t over 1.50 m, see January 11th,

2012 news release) located in the Shaft 3 area of its 100% owned

Pickle Crow property. The initial phase of the winter drilling

program has intersected the No. 22 vein in five of six holes; four

holes have encountered visible gold and one hole (PC-12-253) has

abundant fine-grained visible gold and returned 137.19 g/t gold over

1.00 m (4.00 oz/ton over 3.3 ft). Assays are pending for the

remaining five holes.

The No. 22 vein and other shallow high-grade veins in the Shaft 3

area are likely, with further drilling, to contribute additional

resources to the Pickle Crow Mine which currently hosts a 1.26

million ounce NI 43-101 inferred gold resource(i) (10,150,000 tonnes

averaging 3.9 g/t gold, cut, diluted and constrained). This includes

a higher grade underground component comprising 1.1 million ounces

averaging 5.4 g/t gold, including a high grade vein component of

600,000 ounces averaging 9.3 g/t gold, which the Company is focused

on proving up.

Highlights:

-- 137.19 g/t gold over 1.00 m (4.00 oz/ton over 3.3 ft) from 24.70 to

25.70 m in hole PC-11-253.

-- No. 22 Vein intersected in 5 of 6 initial holes drilled to date in the

winter program with 4 returning visible gold. Assay results for the

remaining 5 holes are expected later this month.

Note: Reported widths are drilled core lengths; true widths are unknown

at this time. All assays are performed by Accurassay Laboratories of

Thunder Bay, Ontario. All assays reported are uncut. Reported widths

are drilled core lengths, true widths are unknown at this time.

Commenting on the results, JP Chauvin, President and CEO said: 'We

continue to be impressed by the drill results from the No. 22 vein

area. It is a rare opportunity to have such prospective ground at

surface 400m from the mine workings that has seen so little

historical exploration'.

The No. 22 vein and other nearby gold-bearing veins located south of

the No. 3 Shaft are hosted within volcanic and gabbroic rocks of the

Confederation Assemblage, which traditionally were not thought to

host Pickle Crow type veins, and therefore have experienced little

exploration. The No. 22 Vein may represent the up dip projection of

the high-grade No. 8 vein structure (mined from the 2850 to 2350 foot

level). The winter drill program will continue to focus on these

veins at shallow depths.

Maps and photographs of the vein intercepts discussed in this news

release can be viewed on the Company's website at:

http://www.pcgold.ca/pr5mar2012/.

QA/QC Procedures

PC Gold has implemented a rigorous quality assurance / quality

control (QA/QC) program to ensure best practices in sampling and

analysis of drill core, the details of which can be viewed on the

Company's website at http://www.pcgold.ca/en/QAQC_Procedures_46.html.

Neil Pettigrew, M.Sc., P.Geo., Vice President, Exploration for PC

Gold and the Company's Qualified Person as defined by NI 43-101, has

reviewed and approved the technical information in this press

release.

Upcoming Events

PC Gold is attending the PDAC 2012 Conference in Toronto, Canada from

March 4 to 7 (booth # 2500 in the Investors Exchange). PC Gold's

management team will be available to meet with investors.

(i) Entirely NI 43-101 Inferred category. The NI 43-101 resource

estimate was prepared by Fladgate Exploration Consulting Corporation,

and audited and approved by Micon International Limited under the

direction of Mr. B. Terrence Hennessey, P.Geo., MAusIMM, Vice

President of Micon, an independent Qualified Person as defined by NI

43-101. Mr. Neil Pettigrew, Vice President, Exploration for PC Gold

and the Company's Qualified Person, is also a partner in Fladgate.

Mineral resources that are not mineral reserves do not have

demonstrated economic viability. The quantity and grade of reported

inferred resources in this estimation are conceptual in nature and

there has been insufficient exploration to define these inferred

resources as an indicated or measured resource and it is uncertain if

further exploration will result in upgrading them to an indicated or

measured resource category.

A copy of the NI 43-101 compliant technical report dated June 2, 2011

containing full details of the resource estimation and entitled: 'A

Mineral Resource Estimate for the Pickle Crow Property, Patricia

Mining Division, Northwestern Ontario, Canada' can be obtained from

the Company's website at:

http://www.pcgold.ca/en/Technical_Reports_52.html.

This news release may contain forward looking statements concerning

future operations of PC Gold Inc. All forward looking statements

concerning the Company's future plans and operations, including

management's assessment of the Company's project expectations or

beliefs may be subject to certain assumptions, risks and

uncertainties beyond the Company's control. Investors are cautioned

that any such statements are not guarantees of future performance and

that actual performance and exploration and financial results may

differ materially from any estimates or projections.

The Toronto Stock Exchange does not accept responsibility for the

adequacy or accuracy of this release.

News Source: Marketwire

05.03.2012 Dissemination of a Corporate News, transmitted by DGAP -

a company of EquityStory AG.

The issuer is solely responsible for the content of this announcement.

DGAP's Distribution Services include Regulatory Announcements,

Financial/Corporate News and Press Releases.

Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------------

Language: English

Company: PC Gold Inc.

Canada

Phone:

Fax:

E-mail:

Internet:

ISIN: CA69320J1066

WKN:

End of Announcement DGAP News-Service

---------------------------------------------------------------------------