PureGold Announces Key Senior Management Appointments

 

VANCOUVER, British Columbia, Feb. 17, 2022 (GLOBE NEWSWIRE) -- Pure Gold Mining Inc. (TSX-V:PGM, LSE:PUR) (“PureGold” or the “Company”), is pleased to announce that, effective immediately, Terrence (“Terry”) Smith has been appointed to the position of Chief Operating Officer and Bryan Wilson has been appointed Vice President Mine General Manager of the PureGold Mine. Phil Smerchanski has also been promoted to Vice President Exploration & Technical Services.

Troy Fierro, President & CEO of PureGold stated, “We are extremely excited to welcome Terry and Bryan to PureGold. Terry is a talented Mining Engineer, optimization specialist, and innovative leader who will enhance our operational planning and execution capabilities. Terry’s sharp focus on, and deep understanding of, the drivers of long-term value creation in mining and his ability to assemble and lead effective teams make him ideally suited to help shape and execute the Company’s long-term vision for the PureGold Mine. Incoming Mine General Manager, Bryan Wilson, is an exemplary leader who is known for establishing a strong safety culture and leading highly productive operations teams. We are also pleased to promote Mr. Phil Smerchanski to Vice President Exploration & Technical Services. In this expanded role, Mr. Smerchanski will work closely with both Mr. Smith and Mr. Wilson in supporting the Technical Services team at the PureGold Mine site. As we continue to ramp up the PureGold Mine to its full potential, these appointments reflect our commitment to a culture of operational and technical excellence. I look forward to Terry, Bryan and Phil’s leadership in their respective areas.”

Terry Smith, Chief Operating Officer of PureGold stated, “PureGold represents a rare opportunity with all the makings of a long-life, highly profitable gold mine in a world-class gold mining district. I have been continually impressed with the quality of the team in place and with the growth potential of the asset, and I look forward to stepping in to lead the next phase of PureGold’s development. Like so many of the high-grade gold successes in Canadian mining history, success at PureGold will come as the result of deep geological understanding, a commitment to operational excellence, and reinvesting in the operation for long-term returns. I look forward to working with the team at PureGold, the local communities, and all of our stakeholders and partners toward our vision of building a multi-generational Canadian gold mining company rooted in the heart of Red Lake.”

Maryse Bélanger remains on PureGold’s Board of Directors and will work closely with Mr. Smith and Mr. Wilson to ensure a smooth transition in the roles of Chief Operating Offering and Vice President Mine General Manager, respectively.

Maryse Bélanger stated, “When I took on the role of Mine General Manager in November 2021, my mandate was to drive functional leadership through all levels of the organization and to establish a culture that fosters operational excellence. In just over three months the PureGold Mine has undergone significant changes which I believe have set the mine on a path toward long-term success. It is my pleasure today to introduce Bryan Wilson as our new Vice President Mine General Manager. Bryan’s deep operational experience and strong leadership ability make him the ideal person to continue building upon the progress we made toward achieving the PureGold Mine’s full potential. I remain committed to PureGold and to the PureGold Mine and will support Bryan completely both as his predecessor and as a director of the Company.”

Management Profiles

Terry Smith – Chief Operating Officer

Terry Smith is a Mining Engineer and a versatile mining executive who brings over 20 years of industry experience to PureGold, including 15 years focused on underground operations. Prior to joining PureGold, Mr. Smith served as Chief Development Officer and Senior Vice President, Operations with Coeur Mining Inc. where he oversaw the safe and efficient operation and strategic development of Coeur’s portfolio of precious metals operations and projects across North America. Prior to joining Coeur, Mr. Smith served as Vice President, Project Development and Assessments for Hunter Dickinson Inc., Manager of Operations Support for Barrick Gold Corporation, and Senior Mining Engineer for Teck Cominco Ltd. Mr. Smith holds a Bachelor of Mining Engineering from Laurentian University.

Bryan Wilson – Vice President Mine General Manager

Bryan Wilson brings over 34 years of mining industry experience, the majority of which has been in management positions at operating mines. From 2015 to 2021, Mr. Wilson served as Mine General Manager of Impala Canada’s Lac Des Iles Mine (formerly North American Palladium) where he led a workforce of over 700 employees. Under his leadership, the Lac Des Iles mine experienced a significant turnaround from challenged entity to a profitable mine. Bryan’s previous experience includes Mine Manager/Operations Senior Manager at Lac Des Iles, Operations General Foreman at Nickel Rim South Mine for Glencore, Construction Coordinator, Lateral Mine and Blasthole Coordinator, Frontline Development Coordinator, Transportation Captain and Frontline Supervisor. Mr. Wilson began his career as an underground miner in Red Lake, Ontario, first with Dickenson Mines and subsequently with Placer Dome at the Campbell Mine from 1988 to 2001.

Options and RSUs

The Company has granted 4,440,000 stock options and 2,600,000 Restricted Share Units (“RSUs”) to certain employees pursuant to its Stock Option and RSU Plans.

The stock options have an exercise price of $0.70 and have a range of vesting periods over three years and expire after five years.

The RSUs are payable in common shares of the Company on exercise, have a range of vesting periods over three years and must be redeemed within 30 days of February 17, 2025, or they expire.

About Pure Gold Mining Inc.

PureGold is a Canadian gold mining company, located in the very heart of Red Lake, Ontario, Canada. Our vision is pure and simple. To build a highly profitable, multi-generational growth company in the world-class gold mining district of Red Lake. With our 100%-owned, fully constructed operating PureGold Mine, a multi-million-ounce gold endowment, and significant exploration upside, our value-maximizing strategy is to pursue operational excellence today, while investing in systematic exploration and phased expansions to fuel discovery and growth for the future.

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
       "Troy Fierro"        
Troy Fierro, President & CEO

Investor inquiries:
Adrian O’Brien,
Director, IR & Communications
Tel: 604-809-6890
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 PureGold within the meaning of applicable securities laws, including, but not limited to statements with respect to those that address proposed timing of development plans for the PureGold Mine, potential for extending the mine life of the PureGold Mine, and potential for additional resources and expansion of known deposits and potential for making new discoveries and the focus of the Company in the coming months. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "progress", "confirms", "continue", "planned", "expect", "expectations", "expand", "enhanced", "increasing", "optimize", "project", "predict", "potential", "supports", "targeting", "intends", "believe", "improved", "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", "confirms", "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 PureGold 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 interpretation of results at the PureGold Mine complex; changes in project parameters as plans continue to be refined; 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 31, 2021 in the section entitled "Risk Factors", under PureGold’s SEDAR profile at www.sedar.com.

Although PureGold 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. PureGold 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.