Pure Gold Mining Inc. Director/PDMR Shareholding (3649M)

TIDMPUR

RNS Number : 3649M

Pure Gold Mining Inc.

11 May 2020

PDMR SECURITY DEALING ANNOUNCEMENT

11 May 2020

PDMR Share Dealing

Pure Gold Mining, Inc. ("PureGold" or "Company") announces the purchase of shares by certain persons discharging managerial responsibilities in the Company as follows:

 
 Name          Role        Nature of transaction    Number of   Price per share 
                                                     shares      (C$) 
                           Purchase 
 Mark O'Dea    Director     of common shares        129,000     0.854 
              ----------  -----------------------  ----------  ---------------- 
 

About PureGold

PureGold is a Canadian focused gold developer. The PureGold Red Lake Mine (formerly Madsen Red Lake Gold Mine) has historical production of 2.6 million ounces of gold and a current indicated resource of 2,063,000 ounces gold at 8.9 g/t gold (in 7.2 million tonnes), an inferred resource of 467,000 ounces gold at 7.7 g/t gold (in 1.9 million tonnes), in both cases inclusive of mineral reserves, and benefits from existing infrastructure including a mill and tailings facility, paved highway access, and access to power, water and experienced labour.

The recently released Feasibility Study for the PureGold Red Lake Mine outlines an 800 tonne per day underground mining operation with a 12 year mine life, Probable Mineral Reserves of one million ounces of gold grading 9 g/t in 3.5 million tonnes, and a low initial capital, putting the Madsen Red Lake Mine firmly on the path to becoming Canada's next gold mine.

For Further Information

Tamesis Partners LLP (Corporate Brokers) [phone]

Charlie Bendon

Richard Greenfield

Peel Hunt LLP (Corporate Brokers) [phone]

Ross Allister

David McKeown

Investor inquiries:

Adam Buchanan, Manager, Investor Relations

Tel: [phone]

[e-mail]

Media inquiries:

Gareth Tredway / Annabel de Morgan - Tavistock

Tel: [phone]

[e-mail]

Notification of dealings in shares by PDMR's of the Company:

 
1.   Details of PDMR / PDMR Associate 
===  ==================================================================== 
(a)  Name                               Mark O'Dea 
===  ===============================  =================================== 
(b)  Position / status                  Director 
===  ===============================  =================================== 
(c)  Initial notification               Initial Notification 
      / 
      amendment 
===  ===============================  =================================== 
2.     Details of the transaction(s): section to be repeated 
        for (i) each type of instrument; (ii) each type of transaction; 
        (iii) each date; and (iv) each place where transactions 
        have been conducted 
===  ==================================================================== 
(a)  Description of                     Common Shares 
      the financial 
      instrument 
===  ===============================  =================================== 
(b)  Nature of the                      Purchase of Common Shares 
      transaction 
===  ===============================  =================================== 
(c)  Price(s) and                       Price: C$0.85 
      volume(s)                          Volume: 83,500 
                                         Price: C$0.86 
                                         Volume 45,500 
===  ===============================  =================================== 
(d)  Aggregated information             Price: C$0.853527 
      Aggregated volume                  Volume: 129,000 
      Price                              Total: C$110,105 
===  ===============================  =================================== 
(e)  Date of the transaction            2020-05-07 
===  ===============================  =================================== 
(f)  Place of the                       Canada 
      transaction 
===  ===============================  =================================== 
 

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May 11, 2020 02:00 ET (06:00 GMT)