Drilling Recommences at the PureGold Red Lake Mine, Targeting Mine Plan Optimization, Aggressive Resource Growth, and New High Grade Discoveries

VANCOUVER, British Columbia, June 04, 2020 (GLOBE NEWSWIRE) -- Pure Gold Mining Inc. (TSX-V: PGM, LSE: PUR) (“PureGold” or the “Company”) is pleased to announce the launch of our 2020/2021 exploration and resource growth program at its 100% owned PureGold Red Lake Mine in Red Lake, Ontario, Canada. Over 30,000 meters of diamond drilling, including both underground and surface drilling, is planned to optimize the near term mine plan, expedite the growth of our mineral resources and aggressively expand new high-grade discoveries.

“We believe strongly in the organic growth potential of our PureGold Red Lake Mine property. And we are confident that the mine plan outlined in our feasibility study is scalable and has the potential to expand,” said Darin Labrenz, President and CEO. “We are now launching an aggressive exploration program designed to realize our vision for future growth at Canada’s next gold mine. Our drill program has been designed with the goal of: increasing indicated mineral resources through infill drilling, with potential to convert to future reserves; expand our gold resources through step-out drilling and make new high-grade discoveries through regional exploration.¹ While we remain completely focused on our fully-funded mine construction and ramp up, we strongly believe in the potential for our mineral reserves and mine production to grow, and our new program is designed to start building our future growth today.”

Underground drilling, which commenced today, is designed to infill and expand mineral resources with the goal of optimizing and expanding the near term mine plan.¹ It is expected that underground drilling with the purpose of reserve replacement will form an important ongoing component through the life of mine. Initial drilling will occur in areas targeted for the first two years of production as part of our ongoing detailed mine plan optimization.

Previous drilling in this area includes:²

• 232.4 g/t gold over 5.2 metres from drill hole PGU-0109;
• 50.2 g/t gold over 4.0 metres from hole PG16-154;
• 28.2 g/t gold over 7.0 metres from drill hole PGU-0061;
• 26.4 g/t gold over 12.7 metres from drill hole PGU-0051;
• 19.4 g/t gold over 9.8 metres from PGU-0028; and
• 10.9 g/t gold over 9.8 metres, including 27.0 g/t gold over 3.8 metres from PG16-093.

Surface drilling will focus on expanding new discoveries along our 7+ kilometre gold corridor. The goal of this program is to grow mineral resources in areas where we believe strong potential exists for mineral resources to convert to future reserves and form part of an expanded mine plan.¹ This drilling forms an important component of our plan to establish the growth and scalability of our PureGold mine complex. Diamond drilling will commence in July with two drill rigs which will initially be deployed to the Wedge area.