PureGold: Q3 2021 Production Results, Mine Leadership Update

27th October 2021

PureGold Announces Third Quarter 2021 Production Results, Mine Leadership Update

VANCOUVER, B.C. – Pure Gold Mining Inc. (TSX-V:PGM, LSE:PUR) (“PureGold” or the “Company”), is pleased to provide a third quarter 2021 update for its high-grade PureGold Mine in Red Lake, Ontario.

Production highlights and milestones for the third quarter include:

  • Average daily throughput of 685 tpd for the quarter, a 35% increase compared to the second quarter driven by increased stope access and mill upgrades;
  • Gold production of 9,260 ounces, a 54% increase compared to the second quarter driven by higher grades and increased tonnage;
  • Average mill head grade of 4.8 g/t Au, a 15% increase on the second quarter;
  • Average mill recovery rate of 94.7%, in line with expectations;
  • Completion of mill upgrades to increase processing capacity, 1,000 tpd achieved for a number of days;
  • Continued ramp-up of production from the East Ramp area of the mine, which has become a key production contributor and is expected to grow significantly over the coming quarters;
  • Average ramp development rate 7.4 metres per day, as improving stope access and continuing to accelerate access to deeper, higher-grade zones of the mine, including 8-Zone, remains a top priority.

Mine Leadership Update

Maryse Bélanger, a Director of the Company, has stepped into the role of Mine General Manager at the PureGold Mine effective today and will be based in Madsen on a full time basis. In this role, Ms. Bélanger will oversee all aspects of the day-to-day operations of the PureGold Mine. Maryse is a widely respected senior mining executive with decades of experience and a track-record of successfully leading the construction, commissioning, ramp-up and operation of several mines globally. Her previous roles include President & CEO of Augusta Gold and President, Director & COO of Atlantic Gold, where she successfully guided the company in taking its Touquoy Mine in Nova Scotia from construction to commissioning, ramp-up and full production, through to its eventual acquisition by St. Barbara for $722M. She also served as CEO & Managing Director of Mirabela Nickel Ltd. where she is credited with the successful turnaround of the Santa Rita mine in Brazil during a period of extremely low metal prices. From 2009 to 2014, Maryse was a senior executive with Goldcorp where she was ultimately appointed Senior Vice President, Technical Services.

Darin Labrenz, President & CEO of PureGold, commented, “The third quarter was a strong operational quarter for the PureGold Mine with quarter-over-quarter improvements in ore production, underground development rates, and mill head grades. We expect mill throughput and mill head grades to continue trending positively through the end of 2021 and into 2022 as ongoing accelerated development and definition drilling programs continue to open up access and build inventory in both the East Ramp and Main Ramp areas of the mine. Underground drilling continues to confirm the high-grade nature of this deposit and we are excited by what lies ahead.” He continued, “I am delighted to have Maryse joining our local leadership team in operations on a day-to-day basis. Maryse’s extensive global experience both as a corporate executive and a mine operator, with a focus on streamlining organizations and driving cost performance, will be a great asset to PureGold. Her decades of hands-on global mining experience and a progressive approach to mining placing a high priority on safety, sustainability, and accountability, is an excellent addition to the PureGold team. I am confident that Maryse is the right leader to guide the PureGold Mine through its next phase of growth.”

Below is a short interview with CEO Darin Labrenz, filmed in June 2020, in which he outlines the potential of the PureGold mine

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