Drill Program At Pure Gold’s Madsen Gold Project

VANCOUVER, BC - Pure Gold Mining Inc. reported additional drill results from the ongoing 51,000 meter drill program at the Company's 100% owned Madsen Gold Project. Results reported herein are from the ongoing three drill rig exploration program, designed to discover new resources and build continuity of high grade gold in close proximity to the existing permitted mining infrastructure.

Highlights from new drilling include: 10.0 g/t over 6.2 meters in hole PG16-138 (Austin); 23.3 g/t gold over 2.0 meters in hole PG16-138 (McVeigh); 21.7 g/t gold over 6.0 meters in hole PG16-148 (Austin); Including 61.8 g/t gold over 2.0 meters; Including 61.8 g/t gold over 2.0 meters and 30.7 g/t gold over 3.1 meters in hole PG16-148 (Austin).

Drilling by Pure Gold has confirmed the presence of gold mineralization in multiple target settings within the footprint of the recently completed Preliminary Economic Assessment (PEA). Recent results include high grade gold intercepts from within both unmined portions of the Austin horizon and the McVeigh horizon. With gold bearing intersections occurring outside of the mining shapes used to define potential production for the PEA, in both the Austin and McVeigh horizons, it is apparent that potential exists for positive improvements to the base case economics at shallow depths.

Additionally, drilling by Pure Gold has demonstrated that the McVeigh horizon is open for expansion and extends well below shallow historic workings. The drill program is designed to test the potential for gold mineralization to depth within the McVeigh horizon, with drilling to date intersecting high grade gold to a depth of approximately 300 meters below surface. Pure Gold continues to step out beyond these intercepts, with drill rigs currently testing the McVeigh at a vertical depth of approximately 400 meters. In addition, drilling by previous operators supports the potential for deep mineralization within the McVeigh, with multiple intercepts of high grade gold intersected at a vertical depth in excess of one kilometer.

The Madsen Mine operated for over 36 years with historic production of 2.5 million ounces at an average grade of 9.9 g/t gold. The Madsen Gold Project hosts a permitted mill and tailings facility, and access to power, water and labour. The Madsen Gold Project has an Indicated Resource of 928,000 ounces gold at 8.93 g/t gold (in 3.24 million tonnes) and an Inferred Resource of 297,000 ounces gold at 11.74 g/t gold (in 0.79 million tonnes). The mineral resource is based on 13,624 drill holes, evenly dispersed throughout the mineral resource. A robust geologic model based on 27 levels of geological mapping and chip sampling provides a solid understanding of the geology and continuity of mineralization.

In addition to the mineral resource, the Madsen Gold Project hosts a number of prospective new discoveries including the Fork Zone and Russet South targets, as well as, two significant historic underground mines. Pure Gold believes the opportunity exists to advance these targets through the application of modern exploration science and a new understanding of the district.