REG - Pure Gold Mining Inc - 3rd Quarter Results

Pure Gold MiningAnnouncement

15/11/2022 08:15

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RNS Number : 4353G  Pure Gold Mining Inc.  15 November 2022

NEWS RELEASE 22-29
 
November 15, 2022

PureGold files Third Quarter 2022 Financials

Provides LOM Plan and Technical Report Update

 

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
(http://www.puregoldmining.ca/)  and under the Company's profile
at www.sedar.com (http://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

aobrien@puregoldmining.ca (mailto: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 the Company within the
meaning of applicable securities laws, including, but not limited to
statements relating to the timing of a potential updated Pre-Feasibility Study
Technical Report and updated Life-of-mine Plan or similar study.
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 the Company 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 CCAA proceedings and the impact of the same on the Company's
operations; securing financing or undertaking a restructuring transaction and
the timing thereof; 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 30, 2022 in the section entitled "Risk Factors",
under the Company's SEDAR profile at www.sedar.com (http://www.sedar.com/) .

 

Although the Company 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. The Company 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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