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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (21433)	8/23/2016 7:40:37 AM
From: Goose94	Read Replies (1) \| Respond to of 202374

Pure Gold Mining (PGM-V) Aug 23, '16 is pleased to announce the addition of a fourth diamond drill rig at the Company's 100% owned Madsen Gold Project, as well as an update on the re-opening of the existing McVeigh Portal. Additional Drill Rig Added to Test Russet South and Other Satellite Targets The addition of a fourth drill rig allows for exploration to advance on satellite targets, including Russet South, without reducing the exploration program currently focused at the McVeigh Horizon. A total of 5,000 metres of drilling is currently planned to be completed on satellite exploration targets by the end of the year, with the goal of discovering high grade mineralization at new targets and expanding the near surface, high grade mineralization discovered to date at Russet South. Russet South is a high priority target that lies approximately 1.5 kilometres west of the McVeigh horizon and associated Madsen mine infrastructure. Drilling and channel sampling to date has defined high grade gold at three separate targets near surface. These targets share a similar geologic setting to Madsen's high grade 8 Zone which is located 1.6 kilometres down dip on the same geologic contact. Update on Development Plan to Re-Open the Existing McVeigh Portal The Project Description for the McVeigh Portal Advanced Exploration Project has been submitted to the Ministry of Northern Development. They have briefed the appropriate representatives at partner ministries as well as the technical reviewers and an interagency review will be scheduled in the near future. The Company anticipates having all necessary approvals to open the portal in Q4 2016. The McVeigh Portal is located approximately one kilometer from the mill and currently provides ramp access to the top 150 vertical metres of mine workings. Opening the portal will allow for a field inspection of the underground headings, including rock mass characterization, as well as detailed underground geological mapping and sampling to refine the structural setting, further characterize mineralization and aid in additional targeting at McVeigh. The ramp will also provide access to the footwall of the McVeigh and Austin horizons which will allow for underground drilling to further test mineralization. Madsen 2016 Exploration Program Pure Gold's expanded 2016 exploration program is on-going with three drill rigs currently testing the McVeigh horizon and one drill rig testing satellite targets. 51,000 metres of core drilling is currently budgeted for 2016, with 24,916 metres completed and released to date. Further results will continue to be released as available. For a complete list of 2016 drill results to date, click link below: http://puregoldmining.ca/sites/default/files/2016-DH-Intercepts-Table-August-09.pdf For a map showing exploration targets at Madsen, including Russet South, click link below: http://puregoldmining.ca/sites/default/files/PGM-Madsen-Exploration-Targets-2016.pdf ABOUT MADSEN 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)1. 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. (1) See the National Instrument 43-101 technical report entitled "Technical Report on the Preliminary Economic Assessment For the Madsen Gold Project," prepared by Nordmin Engineering Ltd., dated effective April 20, 2016. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. Qualified Persons and 43-101 Disclosure Phil Smerchanski, P. Geo., Vice President, Exploration for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 ("NI 43-101") and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same. ABOUT PURE GOLD Our mandate is pure and simple. To dream big. To colour outside the lines. To use smart science and creativity to unlock the next major discovery at the Madsen Gold Project in Red Lake, Ontario. And become Canada's next iconic gold company. Additional information about the Company and its activities may be found on the Company's website at www.puregoldmining.ca and under the Company's profile at www.sedar.com. ON BEHALF OF THE BOARD Darin Labrenz, President & CEO Pure Gold Mining Inc. Investor inquiries: 604-646-8000 info@puregoldmining.ca