PureGold Resumes Operations at Site
17 August 2020 - 8:30PM
Pure Gold Mining Inc. (TSX-V: PGM, LSE: PUR) (“PureGold” or the
“Company”) is pleased to report that the forest fire which had been
active in the area south of the town of Red Lake is now under
control and the evacuation order for the municipality of Red Lake
has been rescinded. Power and access has been restored to site
and the Company is transitioning to a full resumption of mine
activities.
Both surface and underground inspections have
been completed and confirm that there is no damage to
infrastructure or equipment at the mine site. The temporary shut
down had no material impact on our development schedule with first
gold pour expected in Q4 2020.
“The immediate response and tireless efforts of
the Ministry of Natural Resources and Forestry contained the fire,
protecting the people, homes, businesses and vital infrastructure
of the community. On behalf of PureGold’s Board and Executive
Management team, I would like to extend our sincere gratitude to
all who worked so hard to protect the community,” says Darin
Labrenz, President and CEO. “We would also like to thank and
commend our staff and contractors, for their steadfast cooperation
and for working together to keep everyone and everything safe.”
About Pure Gold Mining Inc.The PureGold Red
Lake Mine is Canada’s next gold mine. Fully funded, the
project is on track to deliver near term gold production into a
rising Canadian gold price environment, with first production
scheduled for late 2020. The orebody is situated within a
seven-kilometre-long gold system that is wide open for expansion at
depth and along strike, and multiple discoveries by the Company
suggest potential opportunities for near-term
growth.
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 of
Marketing & Communications Direct: 604-809-6890Office:
604-646-8000 x223info@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 complex, timing of expected
production, timing and size of exploration activities,
expected development rates and schedule, timing of permits,
potential for advancing the amount and timing for higher grade ore,
potential for additional resources and expansion of known deposits
and potential for making new discoveries 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 Pure Gold Red Lake Mine
complex; 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 and
development 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.
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