Mr. Matt Lennox-King reports

PILOT GOLD REPORTS THIRD PORPHYRY GOLD DISCOVERY AT TV TOWER: 0.80 G/T AUEQ OVER 357.7 METRES AT COLUMBAZ TARGET

Pilot Gold Inc. has discovered a third gold-rich porphyry at TV Tower, located three kilometres south of the KCD gold-silver deposit.

The new Columbaz discovery comprises high-grade gold-bearing epithermal veins overprinting a gold-copper porphyry system. With this discovery and success at the Valley and Hilltop porphyry targets, TV Tower is quickly demonstrating the district-scale potential envisioned from day one.

Recent drill highlights include:

• 0.60 gram per tonne gold and 0.11 per cent copper over 357.7 metres (0.80 gram per tonne gold equivalent) in CD008C, including 8.41 grams per tonne gold and 0.06 per cent copper over 7.8 metres, including 24.0 grams per tonne gold over 1.5 metres;
• 3.32 grams per tonne gold and 0.15 per cent copper over 13.2 metres, including 27.9 grams per tonne gold over 1.1 metres.

Gold equivalent is calculated at prices of $1,200 per ounce gold and $3 per pound copper and 100-per-cent recovery.

"This latest discovery reinforces our belief that TV Tower is capable of producing repeatable, robust discoveries with the scale and significance to support a major mining district," stated Matt Lennox-King, president and chief executive officer of Pilot Gold. "While the rate of discovery has been rapid to date, TV Tower remains relatively underexplored with numerous established targets yet to be tested over the 90-square-kilometre property."

The Columbaz discovery is the fifth gold system discovered at TV Tower in the past five years. By consistently applying first principles the company has had an impressive success rate in quickly identifying potential discoveries and confirming with drilling. Pilot Gold is currently drilling follow-up holes at Columbaz, targeting both high-grade epithermal vein and gold-rich porphyry mineralization. Drilling is also continuing at the Valley and Hilltop porphyry targets within the K2 complex six kilometres to the south. Assays are pending.

About the Columbaz discovery

The Columbaz gold zone is the most recent discovery at TV Tower and the third porphyry system identified by the company's team on the property. Prospecting and mapping by Pilot Gold from 2012 through 2014 led to the identification of low-sulphidation epithermal gold-silver veins at lower elevations under the silica cap. Rock samples yielded bonanza (high-grade) gold and silver. Pilot Gold's drill program was designed to target the down-dip extension of these veins. Encouraging gold grades were encountered in drill holes CD001C, CD002C and CD008C on the west end of the outcropping vein system.

Drilling at Columbaz originally targeted high-grade gold-bearing, low sulphidation epithermal quartz veins that can be traced intermittently over a distance of approximately one kilometre at surface. In the course of drilling, the epithermal veins were observed to overprint alteration indicative of the higher levels of a gold-copper porphyry system. The result is a series of higher-grade gold intercepts related to the epithermal veins, hosted in a matrix of lower-grade gold and copper mineralization related to the porphyry system.

The porphyry mineralization is characterized by increasing clay and sericite alteration and quartz-magnetite stockwork veining with increasing depth. Porphyry mineralization is overprinted by the low sulphidation veins, which are extensively faulted and clay altered.

Moira Smith, PhD, PGeo, chief geologist, Pilot Gold, is the company's designated qualified person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects, and has reviewed and verified that the information contained in the release is accurate. Drill composites were calculated using cut-offs of 0.3, 0.5, one and two grams per tonne gold equivalent. Drill intersections are reported as drilled thicknesses. True width of the mineralized interval is interpreted to be approximately 50 per cent of the reported length. Drill samples were assayed by AcmeLabs in Ankara, Turkey, and Vancouver, B.C., for gold by fire assay of a 30-gram (one-assay-ton) charge with ICP-ES or AAS finish, or if over five grams per tonne were reassayed and completed with a gravimetric finish. Silver and copper were determined by ICP-MS, with overlimits (greater than 100 parts per million silver or greater than 10,000 parts per million copper) completed by fire assay with gravimetric finish (silver) or four-acid digestion with ICP-ES finish (copper). Quality assurance/quality control included the insertion and continual monitoring of numerous standards and blanks into the sample stream, and the collection of duplicate samples at random intervals within each batch.

About TV Tower

TV Tower is a joint venture between Pilot Gold (40 per cent) and Teck Madencilik Sanayi Ticaret A.S. (60 per cent), a Turkish subsidiary of Teck Resources Ltd. Pilot Gold is project operator at TV Tower and can increase its interest in the project to 60 per cent, through sole financing of exploration over a three-year period.

Further information is available in the technical report "Independent Technical Report for the TV Tower Exploration Property, Canakkale, Western Turkey," effective Jan. 21, 2014, and dated Feb. 20, 2014, prepared by Casey M. Hetman, PGeo, with SRK Consulting (Canada) Inc.; James N. Gray, PGeo, of Advantage Geoservices Ltd.; and Gary Simmons, BSc, metallurgical engineering, of G.L. Simmons Consulting LLC, under Pilot Gold's issuer profile on SEDAR. Mr. Hetman, Mr. Gray and Mr. Simmons are qualified persons as defined by National Instrument 43-101.

TV Tower is an early stage exploration project and, except for the mineral resources at the KCD deposit as summarized in the report, does not contain any mineral resource estimates as defined by National Instrument 43-101. The potential to define a mineral resource at the Columbaz target or at the copper-gold K2 zone, including the porphyry targets is conceptual in nature and there has been insufficient exploration to define a mineral resource thereat. It is uncertain if further exploration at these or other targets at TV Tower will yield a mineral resource.

We seek Safe Harbor.