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TICKERS: PGM; PUR

Drilling Opens New Exploration Target at Red Lake District Complex
News Update

Source:

Recent assays demonstrate high prospectivity between two existing zones.

Pure Gold Mining Inc. (PGM:TSX.V; PUR:LSE) identified a new target area for discovery at its Madsen gold complex in Ontario, it announced in a news release. As such, the company expanded its current drill program by 20,000 meters (20,000m).

The new area of interest, where Pure Gold hit mineralization on drilling and where exploration has not been extensive, is the altered structure between the high-grade 8 zone at depth and the updip continuation at Russet South. A hole drilled midway between the two zones intersected a 10m wide, gold-bearing zone, 2.2 grams per ton (2.2 g/t) gold over 10.4m, including 4.9 g/t gold over 2.1m.

"This panel of connective real estate, centered near Balmer assemblage mafic-ultramafic contacts, has a known dip length of 1,500m and stretches over 7 km," the release described. The contact, in the 8 zone, has some of the highest grades ever drilled at Madsen, such as 466 g/t over 4.3m, including 3,262.5 g/t over 0.6m.

"This latest drilling represents a sea change in exploration prospectivity, establishing the tremendous potential of a brand new mineralized corridor," President and CEO Darin Labrenz said in the release.

Based on its exploration success at Madsen thus far in 2019, Pure Gold intends to drill another 20,000m there. Two rigs are working currently. A third will start underground drilling in late October.

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