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PureGold Announces Anticipated Closing Date of Non-Brokered Private Placement

Press Release

May 20, 2022

VANCOUVER, B.C. – Pure Gold Mining Inc. (TSX-V:PGM, LSE:PUR) (“PureGold” or the “Company”) is pleased to announce the previously announced non-brokered private placement (the “Offering”) of units of the Company (the “Units”) is expected to close on or about Wednesday, May 25th, 2022 in one or more tranches. The Company has received its minimum allocation of Units for aggregate gross proceeds of $30 million under the Offering.

About Pure Gold Mining Inc.

PureGold is a Canadian gold mining company, located in the very heart of Red Lake, Ontario, Canada. The Company owns and operates the PureGold Mine, which entered commercial production in 2021 after the successful construction of an 800 tpd underground mine and processing facilities. Gold reserves and resources are centered on a forty-seven square kilometre property with significant discovery potential. PureGold’s strategy is to pursue operational excellence today while investing in systematic exploration and phased expansions to fuel discovery and growth for the future.1

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

For further information, see the technical report titled “Madsen Gold Project Technical Report Feasibility Study for the Madsen Deposit,  Red Lake, Ontario, Canada” with an effective date of February 5, 2019, and dated July 5, 2019 (the “Feasibility Study”), for further information please see puregoldmining.ca or under the Company’s Sedar profile at www.sedar.com

ON BEHALF OF THE BOARD

“Mark O’Dea”

Mark O’Dea, President & CEO

Investor inquiries:

Adrian O’Brien, Director, IR & Communications
Tel: 604-809-6890

[email protected]

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