Skip to main content

First Gold Poured at the PureGold Mine

VANCOUVER, British Columbia, Dec. 30, 2020 (GLOBE NEWSWIRE) — Pure Gold Mining Inc. (PGM:TSX-V, LSE:PUR) (“PureGold” or the “Company”), is pleased to announce that first gold has been poured at the Company’s high-grade PureGold Mine, in Red Lake, Ontario.   The first pour occurred on December 29th, following the introduction of ore to the mill on December 15th, 2020.
“Today, the PureGold Mine has come to life. With our first gold pour, we have transitioned to producer, and delivered on our promise to build Canada’s newest gold mine in the heart of Red Lake Ontario, on budget and on schedule,” said Darin Labrenz, President and CEO of PureGold. “To build a mine at any time requires a complete team effort comprised of dedicated, driven, and focussed individuals. To do so under the unique challenges of 2020 speaks to the quality and dedication of the entire team. With this first gold bar, we are now focussed on ramping up the operation to steady state production as we continue to build a long-life growth company in Red Lake.”With the commencement of production at the PureGold Mine, activities at site are now concentrated on optimizing the operation, with Commercial Production anticipated by the end of Q1 2021 at which time the Company will be providing guidance. PureGold will also continue to pursue its aggressive growth strategy in 2021, with ongoing exploration drilling from both surface and underground, an update of mineral resources to include drilling completed over the last two years, and incorporation of significant improvements in mine design and mine plan.For a photo of the first gold bar poured at The PureGold Mine, click link below:
https://puregoldmining.ca/wp-content/uploads/2020/12/IMG_0069-Final-4.png
About Pure Gold Mining Inc.
PureGold is a growth company, located in the very heart of Red Lake, Canada.   Our objective is pure and simple. To develop a highly profitable long life gold mining company, becoming Canada’s next iconic gold producer. Our plan is very disciplined, very methodical and financially sound. To expand organically and develop PureGold’s multi-million-ounce high grade gold asset incrementally, step-by-step, using a phased mining development plan to deliver maximum return.
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                        
Darin Labrenz, President & CEO

Investor inquiries:
Adrian O’Brien, Director Marketing & Communications
Tel: 604-809-6890
aobrien@puregoldmining.ca 
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.All statements in this press release, other than statements of historical fact, are “forward-looking information” with respect to PureGold within the meaning of applicable securities laws, including, but not limited to statements with respect to those that address proposed timing of development plans for the PureGold Red Lake Mine (RL Mine Project), timing of expected production, expected capital costs, expected development schedule, potential for advancing the timing for higher grade ore, potential for additional resources and the focus of the Company in the coming months . Forward-looking information is often, but not always, identified by the use of words such as “seek”, “anticipate”, “plan”, “continue”, “planned”, “expect”, “project”, “predict”, “potential”, “targeting”, “intends”, “believe”, “potential”, and similar expressions, or describes a “goal”, or variation of such words and phrases or state that certain actions, events or results “may”, “should”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management at the date the statements are made including, among others, assumptions about future prices of gold and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time, obtaining renewals for existing licences and permits and obtaining required licences and permits, labour stability, stability in market conditions, availability of equipment, accuracy of any mineral resources, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on factors and events that are not within the control of PureGold and there is no assurance they will prove to be correct.Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information, including, risks related to the interpretation of results at the RL Mine Project; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success of exploration activities generally; delays in permitting; possible claims against the Company; the timing of future economic studies; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals, financing or in the completion of exploration as well as those factors discussed in the Annual Information Form of the Company dated March 26, 2020 in the section entitled “Risk Factors”, under PureGold’s SEDAR profile at www.sedar.com.Although PureGold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. PureGold disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.