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File: PXANewsReleaseAug222014.pdf

                              1901 � 5000 Yonge Street, Toronto, Ontario, Canada, M2N 7E9
                                    Telephone: (416) 2273402 � Fax: (416) 6283801

                                                  NEWS RELEASE

                 PHOENIX GOLD CLOSES $48,390 SHARES FOR DEBT AND GRANTS OPTIONS

August 22, 2014 � Toronto, Ontario: Phoenix Gold Resources Corp (TSX-V: PXA), (the "Company" or
"Phoenix Gold"): Further to the Company's news release dated August 8, 2014, the Company has completed its
shares-for-debt transaction to settle aggregate total debt of $48,390. Under the debt settlement, the Company issued
an aggregate of 483,900 common shares (the "Shares") of the Company at a deemed price of CDN$0.10 per Share
to one creditor, America's Gold Exploration, Inc. ("AGEI").

AGEI is controlled and majority owned by Don McDowell, Vice-President Corporate Development of the Company,
and now owns an aggregate of 17.7% of the issued and outstanding common shares of the Company.

All Shares issued are subject to a four (4) month hold period.

In addition, the Company wishes to announce the granting of an aggregate of 2,582,000 incentive stock options to
directors, officers and consultants of the Company pursuant to the Company's stock option plan subject to the
policies of the TSX Venture Exchange. All of the stock options are exercisable at a price of $0.10 per share for a
period of 5 years.



About Phoenix Gold

Phoenix Gold is a Canadian junior exploration company with strategically located mineral properties in Nevada's
prolific Battle Mountain District. These properties are immediately adjacent to Newmont's Phoenix-Fortitude
Gold/Copper Mine. With a defined strategy to delineate resources and create value to shareholders, Phoenix Gold
has an experienced management team with an excellent track record of discoveries, including its most recent being
the Condor Gold Project in Ecuador. Management and directors own approximately 41% of the Company's issued
and outstanding shares.

For further information please contact:
Cathy Hume                                                   Glenn Laing
CHF Investor Relations                                       President and CEO
Telephone (416) 868-1079 x 231                               Telephone: (647) 865-3101
Email: cathy@chfir.com                                       E-mail: glaing@phoenixgoldresources.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the 
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Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with t
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restriction may constitute a violation of U.S. securities laws.




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