PUREGOLD DEFINITION DRILLING CONFIRMS HIGH GRADES IN UPCOMING STOPES

Current mine plan reinforced by new infill intercepts including 21.1 g/t gold over 4.0 metres and 20.7 g/t gold over 3.0 metres

VANCOUVER, B.C. – Pure Gold Mining Inc. (TSX-V:PGM, LSE:PUR) (“PureGold” or the “Company”), is pleased to report high-grade drill intercepts returned from surface and underground drilling completed during the fourth quarter of 2021. This recently expanded drilling program was successful in confirming the tenor and continuity of gold mineralization in near-term production stopes, as well as establishing the potential for resource expansion close to existing development. Infill and extension drilling continues from both surface and underground to refine and prioritize mine sequencing, optimize mine production, and support incremental resource expansion in areas of active development.

Definition drilling results highlights:

• 21.1 g/t gold over 4.0 metres from drill hole PGP-03-3845-02; including 49.4 g/t gold over 1.0 metre;
• 12.2 g/t gold over 6.5 metres from drill hole PGP-03-3845-12; including 20.7 g/t gold over 3.0 metres;
• 9.7 g/t gold over 7.8 metres from drill hole PGP-02-3738-11; including 26.6 g/t gold over 1.0 metre;
• 14.9 g/t gold over 4.0 metres from drill hole PGP-02-5143-08;
• 63.5 g/t gold over 1.0 metre from drill hole PGP-02-3738-08;
• 39.0 g/t gold over 1.5 metres from drill hole PGP-00168; including 54.3 g/t gold over 1.0 metre;
• 13.4 g/t gold over 4.0 metres from drill hole PGP-02-5143-10.

A summary table of results is set out at the end of this News Release.

“Our recently expanded definition drilling program continues to provide a stream of precise geological information which supports optimized final stope designs and, ultimately, enhances our high-grade scheduling flexibility and allows us to drive operational excellence from the ground up,” stated Troy Fierro, President & CEO of PureGold. “These drill results also highlight the fantastic opportunities for increased head grades and resource expansion that we see in many of the mining areas currently under development for production in the next 6-12 months. As we continue to execute our plan to bring the PureGold Mine toward its full potential, definition drilling provides the critical information needed for precise planning while also highlighting opportunities for potential resource expansion and growth.”

News in full

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