PureGold Announces Granting of Stock Options

Rhea-AI Summary

On June 13, 2022, Pure Gold Mining announced the Board's approval of 35,450,000 stock options to enhance retention and incentivize senior personnel, management, and directors. The options have an exercise price of $0.275 and are valid for five years. Pure Gold operates the PureGold Mine in Red Lake, Ontario, which began commercial production in 2021. The mine sits on a 47-square-kilometer property with potential for further discoveries.

VANCOUVER, British Columbia, June 13, 2022 (GLOBE NEWSWIRE) -- Pure Gold Mining Inc. (TSX-V:PGM, LSE:PUR) (“PureGold” or the “Company”), announces that the Board of Directors has approved the grant of an aggregate of 35,450,000 stock options for incentive and operational retention purposes, to senior mine site personnel, the executive management team, the Board of Directors and an outside technical advisor to the Company, pursuant to its Stock Option Plan. The stock options have an exercise price of $0.275 and expire after five years.

About Pure Gold Mining Inc.
PureGold is a Canadian gold mining company, located in the heart of Red Lake, Ontario, Canada. The Company owns and operates the PureGold Mine, which entered commercial production in 2021 after the successful construction of an 800 tpd underground mine and processing facilities. Gold reserves and resources are centered on a forty-seven square kilometre property with significant discovery potential.¹

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

1. For further information, see the technical report titled “Madsen Gold Project Technical Report Feasibility Study for the Madsen Deposit, Red Lake, Ontario, Canada” with an effective date of February 5, 2019, and dated July 5, 2019 (the “Feasibility Study”), for further information please see puregoldmining.ca or under the Company’s Sedar profile at www.sedar.com
   

ON BEHALF OF THE BOARD
    "Mark O’Dea"    
Mark O’Dea, President & CEO

Investor inquiries:
Adrian O’Brien, Director, Director IR & Communications
Tel: 604-809-6890
aobrien@puregoldmining.ca

FAQ

What is the significance of the stock options granted by Pure Gold Mining on June 13, 2022?

The grant of 35,450,000 stock options aims to retain senior personnel and align their interests with shareholders, potentially improving company performance.

What is the exercise price of the stock options granted by Pure Gold Mining?

The stock options have an exercise price of $0.275.

How long are the stock options granted by Pure Gold Mining valid?

The stock options expire after five years.

What is the location of Pure Gold Mining's operations?

Pure Gold Mining operates the PureGold Mine located in Red Lake, Ontario, Canada.

When did the PureGold Mine enter commercial production?

The PureGold Mine began commercial production in 2021.