Pure Gold Mining Inc. Reports on Payments to Governments for 2019 (0784O)

TIDMPUR

RNS Number : 0784O

Pure Gold Mining Inc.

05 February 2021

05 February 2021

Pure Gold Mining Inc.

(PGM:TSX-V, LSE:PUR) ("PureGold" or the "Company")

Reports on Payments to Governments for 2019

Introduction

This report sets out details of the payments made to governments by PureGold for the year ended 31 December 2019 as required under Disclosure and Transparency Rule 4.3A issued by the UK's Financial Conduct Authority ("DTR 4.3A") and in accordance with The Reports on Payments to Governments Regulations 2014 (as amended in 2015) ("the UK Regulations"). DTR 4.3A requires companies listed on a stock exchange in the UK and operating in the extractive industry to publicly disclose payments to governments in the countries where they undertake exploration, prospection, discovery, development and extraction of oil and natural gas deposits or other materials.

Basis for preparation

All of the payments made were in relation to the Red Lake Mine. This information is substantially a reproduction of information set out PureGold's Extractive Sector Transparency Measures Act - Annual Report for 2019 available on the Company's website at www.puregoldmining.ca

Summary of payments

 
 Payee                       Payment type    Amount (CAN 
                                              $) 
 Lac Seul First Nations      Fees            396,000* 
                            --------------  ------------ 
 Wabauskang First Nations    Fees            396,000* 
                            --------------  ------------ 
 Municipality of Red Lake    Taxes           112,000 
                            --------------  ------------ 
  Total                                      904,000 
 -----------------------------------------  ------------ 
 

* Cash payment of CAN $81,000 and 500,000 common shares of PureGold valued at CAN $315,000 as per a Project Agreement signed in July 2019 in respect of PureGold's Red Lake Mine.

About Pure Gold Mining Inc.

PureGold is a growth company, located in the very heart of Red Lake, Canada. Our objective is pure and simple. To develop a highly profitable long-life gold mining company, becoming Canada's next iconic gold producer. Our plan is very disciplined, very methodical and financially sound. To expand organically and develop PureGold's multi-million-ounce high grade gold asset incrementally, step-by-step, using a phased mining development plan to deliver maximum return.

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

"Darin Labrenz"

Darin Labrenz, President & CEO

Investor inquiries:

Adrian O'Brien, Director Marketing & Communications

Tel: [phone]

[e-mail]

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February 05, 2021 02:00 ET (07:00 GMT)