Eric Sprott Announces Holdings in Pure Gold Mining Inc.

Toronto, Ontario--(Newsfile Corp. - February 17, 2021) - Eric Sprott announces that today, 2176423 Ontario Ltd., a corporation which is beneficially owned by him, purchased 3,925,000 common share purchase warrants ("Warrants") of Pure Gold Mining Inc. at a price of $1.10 per warrant for aggregate consideration of approximately $4,317,500, through a private agreement with a single vendor (representing an increase in holdings of approximately 2.3% on a partially diluted basis from what was reported in the last early warning report).

Mr. Sprott now owns and controls 47,868,421 common shares and 21,925,000 Warrants, (representing approximately 12.1% of the issued and outstanding common shares on a non-diluted basis, and approximately 16.8% on a partially diluted basis assuming exercise of the Warrants). Prior to this acquisition, Mr. Sprott beneficially owned and controlled 47,868,421 common shares and 18,000,000 (representing approximately 12.1% on a non-diluted basis, and approximately 16% on a partially diluted basis).

The securities were acquired by Mr. Sprott, through 2176423 Ontario for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities of Pure Gold Mining including on the open market or through private acquisitions or sell securities of Pure Gold Mining including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

Pure Gold Mining is located at Suite 1900-1055 West Hastings Street, Vancouver, British Columbia, V6E 2E9. A copy of 2176423 Ontario's early warning report will appear on Pure Gold Mining's profile on SEDAR at www.sedar.com may also be obtained by calling (416) 945-3294 (200 Bay Street, Suite 2600, Royal Bank Plaza, South Tower, Toronto, Ontario M5J 2J1).

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