Phoenix Gold Announces Results of Surface Sampling and Prospecting Programs, Location of Drill Holes and Completion of First ...

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A
VIOLATION OF U.S. SECURITIES LAWS. 


Phoenix Gold Resources Corp (TSX VENTURE:PXA), (the "Company" or "Phoenix Gold")
is pleased to announce the results from the surface sampling and prospecting
programs, the locations of the 8 drills holes and the completion of the first
drill hole (CPL-1) at its 100% owned Plumas Property located at Battle Mountain,
Nevada.


Surface Sampling and Prospecting Program 

All the results from the rock chip samples taken during the recently completed
mapping and prospecting program on the Plumas Property have been received and
have been integrated into the Plumas database together with previously recorded
geochemical and rock chip surface sampling results. The attached map (Figure 1)
shows the distribution of the surface gold values across the Plumas Property
relative to the geological structures and rock types, defining an area of
mineralization that will be the focus of the current drill program. 


Drill Hole Locations

Based on the detailed understanding and interpretation of the geology and
structural controls, together with the results from surface sampling programs, a
total of eight drill sites have been located for the current Plumas Property
drill program. The location of these eight drill sites together with the
projections of the drill holes are shown on the attached map (Figure 1).


Drilling Update

The first drill hole (CPL-1) has been completed to a depth of 447 feet
(approximately 135 meters). Drill assay results are expected by mid August 2014.


Drilling has commenced on the second hole (CPL-4).

Plumas Property

The Plumas Property is an outcropping high grade gold mineralized system that
has never been drill tested, located adjacent to Newmont's Phoenix-Fortitude pit
to the west. The Plumas Property has two patented claims for a total of 40 acres
with extralateral rights and one mill site claim. 


Quality Assurance

The Company has implemented a quality assurance and quality control program to
ensure that the transport, sampling and analysis of all samples are conducted in
accordance with the best possible practices. 


Rock chip and geochemical samples have been sent to the Chemex Lab facility in
Reno, Nevada, where the sample is crushed so that 80% passes a 10 mesh screen
and a 250g split is pulverized so that 85% passes a 200 mesh screen in
preparation for analysis. The lab is ISO/IEC 17025:2005 (CAN-P-4E) certified.
Where appropriate, samples are analyzed for gold by Chemex method code AuAA-23
method, a 30-gm fire assay with an AA finish and by gravimetric methods for
assays over 10 ppm gold. Samples are analyzed for either 41 or 61 elements
including silver, lead, zinc and copper by Chemex method code MEMS-61 after a
four acid digestion for high sulphidation samples and ME-ICP-41 for all others.
For silver assays over 100 ppm, samples are analyzed using Chemex method OG46
for ore grade results. Copper, Lead, Zinc & Molybdenum assays over 10,000 ppm
are also re-analyzed using the Chemex OG46 Ore Grade analysis method. The Chemex
Labs are independent from the Company.


Qualified Person

Robin Hendrickson, P.Geo. is the qualified person, as defined by National
Instrument 43-101, has supervised the project field work, and is responsible for
the preparation of the technical information in this release. 


Drill Hole Locations: http://media3.marketwire.com/docs/DrillHoleLocations.pdf. 

About Phoenix Gold 

Phoenix Gold is a Canadian junior exploration company with strategically located
mineral properties in Nevada's prolific Battle Mountain District. These
properties are immediately adjacent to Newmont's Phoenix-Fortitude Gold/Copper
Mine. With a defined strategy to delineate resources and create value to
shareholders, Phoenix Gold has an experienced management team with an excellent
track record of discoveries, including its most recent being the Condor Gold
Project in Ecuador. Management and directors own approximately 50% of the
Company's issued and outstanding shares.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
CHF Investor Relations
Jeanny So
[phone] x 225
[e-mail]


Phoenix Gold Resources Corp
Glenn Laing
President and CEO
[phone]
[e-mail]