Pure Gold Mining Inc. (TSX-V:PGM) (LSE:PUR) is pleased to announce that it has closed its previously-announced offering of “flow-through shares”, with respect to “Canadian development expenses” within the meaning of the Income Tax Act (Canada) at an issue price of $1.52 per CDE Flow-Through Share for gross proceeds of $17,250,024 which includes the full exercise of the underwriters’ over-allotment option.

The Offering was completed pursuant to an underwriting agreement dated April 14, 2021 entered into among the Company and a syndicate of underwriters led by Clarus Securities Inc., and including Canaccord Genuity Corp., Sprott Capital Partners L.P., Stifel Nicolaus Canada Inc., Haywood Securities Inc. and PI Financial Corp. Inc.

The gross proceeds from the sale of the CDE Flow-Through Shares will be used on development expenses on the PureGold Mine Project located in the Red Lake District in Ontario as permitted under the Tax Act to qualify as CDE. The Company will renounce all the CDE in favour of the subscribers of the CDE Flow-Through Shares effective on or before December 31, 2021.

The Company filed a short form prospectus in the provinces of British Columbia, Alberta and Ontario, pursuant to National Instrument 44-101 — Short Form Prospectus Distributions to qualify for distribution the CDE Flow-Through Shares offered pursuant to the Offering. Copies of the final short form prospectus and documents incorporated by reference therein are available electronically on SEDAR (www.sedar.com) under PureGold’s issuer profile.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933 or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of such Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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 Pure Gold Mining Inc.’s multi-million ounce high grade gold asset incrementally, step-by-step, using a phased mining development plan to deliver maximum return.