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PureGold files Third Quarter 2022 Financials Provides LOM Plan and Technical Report Update

Press Release

November 14, 2022

VANCOUVER, B.C. – Pure Gold Mining Inc. (TSX-V:PGM, LSE:PUR) (“PureGold” or the “Company”), today filed Third Quarter 2022 summary financial and operating results. The Company’s unaudited condensed interim financial statements and related management’s discussion and analysis for the three and nine months ended September 30, 2022, will be available for download on SEDAR and on the Company’s website. All amounts are expressed in Canadian dollars (“$”), unless otherwise noted.

Following the decision to place the PureGold Mine on care and maintenance and considering the time constraints associated with the Companies’ Creditors Arrangement Act (“CCAA”) proceedings, the Company no longer expects to release a Pre-Feasibility Study (“PFS”) Technical Report in the fourth quarter of 2022 as has been previously disclosed. The Company continues to evaluate several alternatives to advance an updated Life-of-mine Plan (“LOM Plan”) for the PureGold Mine which may include the completion of a PFS or similar study at a later date.

About Pure Gold Mining Inc.

The Company is a Canadian gold mining company, located in Red Lake, Ontario, Canada. The Company owns and operates the Company’s Mine, which began gold production in 2021 after the successful construction of an 800 tpd underground mine and processing facility. The Company’s Mine is centered on a forty-seven square kilometre property with significant discovery potential.

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

“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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