Follow Us! Like Our Page!

Pure Gold Awards Engineering and Procurement Contracts, Builds Owners Team, and Commences Construction of its 100% Owned Madsen Gold Mine

Press Release

September 09, 2019

VANCOUVER, B.C. – Pure Gold Mining Inc. (TSX-V: PGM, LSE: PUR) (“Pure Gold” or the “Company”) is pleased to announce it has awarded the surface Engineering and Procurement (E/P) contract to JDS Energy & Mining (“JDS”) in partnership with Hatch Ltd. (“Hatch”) and Knight Piesold Ltd. (Knight Piesold) for it’s Madsen Red Lake Mine (the “Project”). Additionally, the Company has awarded the underground mine design engineering contract to Dumas Mine Contracting Ltd. (“Dumas”).

With the engagement of our engineering partners, the Company has commenced construction. Detailed design work on surface infrastructure, as well as underground electrical distribution, mine ventilation, mine service design and stope optimization has been initiated, as well as equipment sourcing and the procurement of long lead time items.

“Today we hit yet another key milestone on our road to near term cash flow,” stated President & CEO, Darin Labrenz. “I am incredibly proud of our team for what they have accomplished over the last five years. Madsen began as an exploration concept in late 2014, and has evolved into a multi-million ounce gold deposit that is now under construction as Canada`s highest grade gold development project.1 Along the way, the team has hit every milestone we set: from first resource estimate, to early conceptual studies, through a comprehensive feasibility study, an agreement with our First Nation partners, and now a fully funded financing package. Today, as we commence construction, our project is perfectly timed to benefit from a rising gold market, and looks set to generate well over C$800 million in cumulative pre-tax cash flow with gold currently near C$2,000 per ounce.”

Project and Site Operations Appointments

The Company is also pleased to announce Mr. Dimitry Demianyuk has joined Pure Gold as Project Manager, Madsen Red Lake Mine. As a key member of the Site Owner’s Team, Mr. Demianyuk will work with the VP Operations, Ken Donner, providing Engineering Management and Project Management focussed on the optimization of project scope, budget, quality and schedule. Mr. Demianyuk is an engineering professional with 15 years of industry experience in mine development at all project stages, having worked for established EPCM firms earlier in his career and then transitioning to specialize in Project Mangement and Engineering Management as part of Owner’s Teams at Rio Tinto, Frontera Mining, Newcrest, and Nevsun Resources.

We are also pleased to announce that Ms. Barbara Womersley has been engaged as a Human Resources lead for the Company. Ms. Womersley is a Chartered Professional in Human Resources and brings over 20 years of experience in human resources with a focus on the mining industry. Ms. Womersley responsibilities include working with executive management to advance the human resources strategy, policies and procedures for the expanding workforce as the mine moves into operation.

With the commencement of site development activities, the Company has developed a hiring plan to build out the operational team, with key site-based roles in safety, procurement and human resources now in place. Current employment opportunities can be found at http://puregoldmining.ca/contact-us/careers.

About Madsen

The Madsen Red Lake Mine is Canada’s highest grade development-stage gold project1 and is fully funded to production with first gold pour projected for late 2020. The orebody is situated within a five kilometre long gold system in the heart of the Red Lake gold district. It is wide open in all directions, and multiple discoveries by the Company suggest potential opportunities for significant near-term resource growth. Concurrent with construction activites, the Company is continuing its exploration drilling program designed to expand and define the extensive gold system in place at Madsen.

Source – S&P Global Market Intelligence, October 2018

Qualified Persons and 43-101 Disclosure

Ken Donner, P. Eng., Vice President, Operations 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 Mining Inc.

Our mandate is pure and simple. To dream big. To colour outside the lines. To use smart science and creativity to unlock 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”

Darin Labrenz, President & CEO

Investor inquiries:

Adam Buchanan, Manager, Investor Relations
Tel: 604-646-8000

[email protected]

Media inquiries:

Gareth Tredway / Annabel de Morgan – Tavistock

Tel: +44 (0) 20 79207150

[email protected]

IBF4

NationTalk Partners & Sponsors Learn More