Mr. Peter Hooper reports

PC GOLD INTERSECTS 68.71 G/T (2.00 OZ/TON) OVER 0.50 METRES (1.6 FEET) IN THE NO. 22 VEIN

PC Gold Inc. has released results for an additional seven holes from the 21-hole 2014 spring drill program. Assay results from the remaining five holes are pending and are expected to be returned within the next few weeks.

No. 22 and No. 23 vein highlights:

• 68.71 grams per tonne gold over 0.5 metre (two ounces per ton over 1.6 feet) in hole PC-14-291 from 100.22 to 100.72 metres in the No. 22 vein;
• 16.1 grams per tonne gold over 0.55 metre (0.47 ounce per ton over 1.8 feet) in hole PC-14-293 from 140.88 to 141.43 metres in the No. 23 vein;
• Abundant visible gold observed.

Note: Reported widths are drilled core lengths; true widths are unknown at this time. All assays are performed by Accurassay Laboratories of Thunder Bay, Ont. Assay values are uncut.

Hole PC-14-291 was the first hole drilled on the No. 22 vein during the 2014 program and intersected abundant visible gold. This new intersection is located approximately 75 metres away from the intercept in hole PC-11-251 that returned 444.38 grams per tonne gold over 1.5 metres (including 1,325.73 grams per tonne gold over 0.5 metre) (see press release dated Jan. 11, 2011).

The current drill program is targeting the shallow No. 22 and No. 23 veins. The objective of this program is to prove up sufficient near-surface resources, which will allow the company to finalize an economic study evaluating the viability of commissioning the on-site 225-tonne-per-day mill.

The Pickle Crow property currently hosts a 1.26-million-ounce National Instrument 43-101 inferred gold resource (10.15 million tonnes averaging 3.9 grams per tonne gold). This includes a higher-grade underground component comprising 1.1 million ounces averaging 5.4 grams per tonne gold, including a high-grade vein component of 600,000 ounces averaging 9.3 grams per tonne gold.

Commenting on the results, Peter Hooper, president and chief executive officer, said: "The No. 22 continues to return high-grade gold mineralization. Recent modelling suggests that the No. 22 vein is an extension of the historic high-grade No. 8 vein structure, which was mined from the 3,000-foot level to 2,350-foot level during the final years of the mine. This leaves open over 550 metres of untested ground between the deepest drilling done to date on the No. 22 vein and the uppermost mined level of the No. 8 vein."

           SIGNIFICANT INTERCEPTS

Hole ID          From       To   Width        Au
                   (m)      (m)     (m)     (g/t)

PC-14-281(i)    15.30    15.80    0.50      0.58
               114.20   115.70    1.50      0.90
PC-14-282(i)    16.70    17.20    0.50      1.49
               135.23   136.45    1.22      1.39
PC-14-283(i)    65.89    66.79    0.90    878.69
                71.45    77.00    5.55     10.60
                71.45    72.00    0.55     83.48
                75.50    76.27    0.77      9.83
                89.85    91.06    1.21      5.03
               171.80   173.32    1.52      0.65
PC-14-284(ii)   66.20    70.23    4.03     12.72
                66.20    66.70    0.50     85.36
                73.42    76.05    2.63     28.51
                74.00    75.06    1.06     68.95
PC-14-285(ii)  No significant assays
PC-14-286(ii)  174.75   177.75    3.00      2.87 
               175.75   176.70    0.95      7.69
PC-14-287(ii)  160.00   160.60    0.60      0.69
PC-14-288(ii)   80.90    81.40    0.50      1.64
               112.50   113.00    0.50      4.91
PC-14-289(ii)  146.35   146.75    0.40      5.79
               165.70   167.00    1.30      5.72
               165.70   166.20    0.50     12.82
               188.90   189.45    0.55      1.17
PC-14-290       74.00    74.50    0.50      2.89
                92.00    93.50    1.50      1.13
               219.20   220.70    1.50      0.50
PC-14-291      100.22   100.72    0.50     68.71
PC-14-292       92.25    96.02    3.77      2.54
                95.00    96.02    1.02      6.39
               158.50   159.00    0.50      0.02
PC-14-293      140.88   141.43    0.55     16.10
               195.93   196.43    0.50      0.58
               222.26   222.76     0.5      0.62
PC-14-294      146.40   148.90    2.50      0.13
PC-14-295      181.10   181.60    0.50      0.91
               202.30   203.40    1.10      4.91
               202.30   202.80    0.50      6.52
PC-14-296      150.02   151.02    1.00      4.71
               150.52   151.02    0.50      7.93

(i)  Previously released (see news release 
     dated June 25, 2014)
(ii) Previously released (see news release  
     dated July 2, 2014)

All assays are performed by Accurassay Laboratories of Thunder Bay, Ont. Samples were analyzed by using 50-gram fire assay with an atomic absorption finish. Samples greater than 10 grams per tonne or with visible gold were analyzed by 1,000-gram pulp metallic analysis with a gravimetric finish. All assays reported are uncut. Reported widths are drilled core lengths, and true widths are unknown at this time.

Maps and photographs of the No. 22 and No. 23 vein intercepts discussed in this news release can be viewed on the company's website.

Quality assurance/quality control procedures

PC Gold has implemented a rigorous quality assurance/quality control program to ensure best practices in sampling and analysis of drill core, the details of which can be viewed on the company's website.

Neil Pettigrew, MSc, PGeo, vice-president, exploration, for PC Gold and the company's qualified person, as defined by NI 43-101, has reviewed and approved the technical information in this press release.