Mr. Darin Labrenz reports

PURE GOLD DRILLING INTERSECTS HIGH GRADE GOLD MINERALIZATION AT 8 ZONE GAP AND WEDGE

Exploration drilling near Pure Gold Mining Inc.'s Madsen Red Lake mine, currently under construction, has intersected high-grade gold mineralization from a second drill hole targeting the widespread gap between the company's 8 zone at depth and the Russet South zone, which outcrops at surface. This latest drill hole confirms the discovery potential of this new target area and supports continuity of the gold system between Russet South and 8 zone.

In addition, continuing drilling along the Madsen Red Lake mine trend continues to rapidly expand the footprint of the Wedge zone with multiple drill holes returning drill intercepts anticipated to upgrade the current mineral resource and also likely to expand the resource footprint including the deepest Wedge intercept to date. The results highlight the down-plunge continuity of the zone, reinforcing the Wedge as a high priority for resource growth. Importantly, in addition to the 500-metre strike extension identified in the Oct. 1, 2019, news release, two additional new gold-mineralized shoots appear to be taking shape adjacent to current resources.

New Wedge drilling highlights:

• 167.0 grams per tonne gold over 1.1 metres from drill hole PG19-693;
• 51.5 g/t gold over 1.5 metres from drill hole PG19-713;
• 9.0 g/t gold over 1.0 metre from drill hole PG19-691;
• 8.7 g/t gold over 1.7 metres from drill hole PG19-700;
• 6.9 g/t gold over 2.0 metres from drill hole PG19-696.

Additionally, a new drill hole targeting the expansive gap between the 8 zone and Russet South mineral resources has intersected 51 metres of gold mineralization, including 9.9 g/t gold over 0.9 metre.

"Over the last several months we have seen an exciting major resurgence in investment and interest in the Red Lake district and Pure Gold continues to lead this charge," stated Darin Labrenz, president and chief executive officer of Pure Gold. "Today's exploration results include a new gold-bearing pierce point in the gap between Russet South at surface and the deeper 8 zone, confirming the new mineralized corridor described in the Oct. 9, 2019, news release and establishing geologic continuity between these two high-grade zones. With this new discovery and the continued exploration success at Wedge we are pushing well beyond the boundaries of our previous feasibility study. Deep pierce points along the entire seven-kilometre trend intersecting the same style of mineralization, geology, alteration and high-grade gold support the opportunity for growth and scalability of the project for the long term. Today's results continue to crystallize this opportunity, with drilling successfully pushing the envelope downward at Wedge and a second test of the 8 zone gap returning high-grade gold. Importantly, all of this sits within reach of a mine and milling complex expected to be in production in the fourth quarter of 2020, providing clear support for the opportunity for a phased approach to growth of the Madsen Red Lake mine into a major regional producer."

Successfully testing the 8 zone gap

The 8 zone is the highest-grade gold zone discovered to date on the property, with an indicated resource grading 20.5 g/t gold (458,000 tonnes containing 301,000 ounces), and an inferred resource grading 12.4 g/t gold (202,000 tonnes containing 80,000 ounces). Characterized by a mafic-ultramafic rock association, blue-grey quartz veins and numerous high-grade drill intercepts, the 8 zone is geologically analogous to the high-grade zone at Newmont Goldcorp's Red Lake mine, and remains open for expansion.

On Oct. 9, Pure Gold announced the results of its first drill hole testing an expansive gap between the high-grade 8 zone and its updip continuation at Russet South. This hole successfully intersected the altered structure linking the two widely separated zones, returning a 10-metre gold-bearing zone approximately 750 metres updip of the 8 zone. Today's results include drill hole PG19-689, which targeted the same gap, approximately 100 metres updip of previously reported hole PG19-667, and returned a 51-metre-wide gold-bearing zone (1.0 g/t gold over 51.0 metres), with abundant blue-grey quartz veins and including 9.9 g/t gold over 0.9 metre. Both holes to date have returned wide gold-bearing zones providing demonstrated potential of the strength of the gold-mineralized alteration system and highlighting the tremendous prospectivity of this important high-grade target.

Expanding the wedge

As an extension of the structure that hosts the Madsen orebody, the Wedge zone is a part of the structural architecture associated with gold mineralization across the property. Drilling at Wedge has recently established a 500-metre extension to the mineralized structure at surface and has clearly demonstrated the strength of the seven-kilometre-long gold system at Madsen. Continuing drilling at Wedge continues to show potential to both upgrade and expand mineral resources in the Wedge area, including drill hole PG19-693, which returned 167.0 g/t gold over 1.0 metre at a depth of approximately 300 metres below surface.

Today's results also include several holes which have the potential to expand the resource, including the deepest test of the Wedge zone to date. Drill hole PG19-697 intersected mineralization at a depth of approximately 600 metres below surface, characterized by intense alteration, visible gold and grading 5.2 g/t gold over 1.8 metres. This hole represents a 300-metre downdip stepout from previously drilling in this area. A second hole in the area intersected 51.5 g/t gold over 1.5 metres in a stepout from the current resource which suggests development of a new gold-mineralized shoot. On the north edge of the Wedge area, a 100-metre downdip stepout returned 8.7 g/t gold over 1.7 metres and together with earlier results confirms the presence of a second new gold-mineralized shoot. Together, these two drill holes represent significant stepouts from current mineral resources and clearly highlight the potential for resource growth in the Wedge area.

Drill results summary

                               NEW ASSAY RESULTS FROM SELECT DRILL HOLES 

Hole ID                      From                   To               Length                 Gold
                              (m)                  (m)                  (m)                (g/t)

PG19-680                    485.0                487.3                  2.3                  4.3
incl.                       486.2                487.3                  1.1                  7.1
PG19-682                     25.8                 27.8                  2.0                  4.5
incl.                        25.8                 26.8                  1.0                  7.3
PG19-689                    734.0                736.1                  2.1                  6.4
incl.                       735.2                736.1                  0.9                  9.9
PG19-691                    267.8                270.3                  2.5                  4.3
Incl.                       267.8                268.7                  1.0                  9.0
PG19-693                    346.9                348.0                  1.1                167.0
PG19-696                    217.9                219.4                  1.5                  6.2
PG19-696                    223.0                225.0                  2.0                  6.9
PG19-697                    752.6                754.4                  1.8                  5.2
PG19-700                    253.7                255.4                  1.7                  8.7
PG19-713                    412.6                414.1                  1.5                 51.5

* Assay composites were calculated using uncut assays and true widths are interpreted to  
vary from 70 to 90 per cent (80 per cent, on average) of reported core lengths.

Grant of incentive options

Pure Gold also announces that it has granted incentive stock options to its directors, employees and a consultant exercisable to purchase up to 4,735,000 common shares in the capital of the company until Dec. 13, 2024, at an exercise price of 74 cents per share. The incentive stock options were granted in accordance with the company's stock option plan.

About the Madsen Red Lake mine

The Madsen Red Lake mine is Canada's highest-grade development-stage gold project. Fully financed, the project is on track to deliver near-term gold production into a rising Canadian gold price environment, with first production scheduled for late 2020. The orebody is situated within a six-kilometre-long gold system that is wide open for expansion at depth and along strike and multiple discoveries by the company suggest potential opportunities for near-term growth.

Quality assurance/quality control and core sampling protocols

Drill core samples are submitted to ALS Minerals in Thunder Bay, Ont., for sample preparation by crushing to 70 per cent less than two millimetres, a rotary split of one kilogram, and pulverization of the split to better than 85 per cent passing 75 microns. Sample pulps are shipped to the ALS assay laboratory in North Vancouver, B.C., for gold analysis with a 30 g fire assay and AAS (atomic absorption spectroscopy) finish (code Au-AA23). Samples returning greater than five g/t Au are reassayed with a gravimetric finish (code GRA21). Mineralized zones with visible gold and shoulder samples are also analyzed by a one kg screen fire assay with screening to 100 microns. A duplicate 30 g fire assay is conducted on the screen undersize with assaying of the entire oversize fraction (code Au-SCR21). Control samples (certified standards and uncertified blanks), along with field, prep and pulp duplicates, are inserted on a regular basis. Results are assessed for accuracy, precision and contamination on a continuing basis.

Qualified persons and National Instrument 43-101 disclosure

Phil Smerchanski, PGeo, vice-president, exploration, for the company, is the designated qualified person for this news release within the meaning of National Instrument 43-101 and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same.

We seek Safe Harbor.