Mr. Darin Labrenz reports

PUREGOLD CLOSES $15 MILLION NON-BROKERED FLOW THROUGH FINANCING

Pure Gold Mining Inc. has closed the non-brokered private placement of 9,868,421 common shares of the company that qualified as flow-through shares for the purposes of the Income Tax Act (Canada) at a price of $1.52 per flow-through share for gross proceeds to Pure Gold of $15-million. Subsequent to the private placement, Eric Sprott was the back-end buyer of all of the flow-through shares.

"This new capital gives us the financial flexibility to launch an aggressive exploration drilling campaign designed to accelerate our goal of resource growth and expansion. While we remain completely focused on our fully funded mine construction and ramp-up, we strongly believe our mine plan is both scalable and has the potential to expand. This investment allows us to begin building out our future growth today, concurrent with mine construction activities, which remain on track for first gold production in Q4 2020," said Darin Labrenz, president and chief executive officer. "We would like to thank Eric Sprott for his continued support of the company and of our vision of becoming a high-margin, long-life producer in the Red Lake mining district."

The gross proceeds from the issuance of the flow-through shares will be used for Canadian exploration expenses and will qualify as flow-through mining expenditures, as those terms are defined in the Income Tax Act (Canada), which will be renounced to the initial purchasers of the flow-through shares with an effective date no later than Dec. 31, 2020, in an aggregate amount not less than the gross proceeds raised from the issue of the flow-through shares and, if the qualifying expenditures are reduced by the Canada Revenue Agency, the company will indemnify each initial purchaser of flow-through shares for any additional taxes payable by such subscriber as a result of the company's failure to renounce the qualifying expenditures as agreed.

In consideration for their services, a finder's fee equal to 6 per cent of the gross proceeds of the financing was paid to a group of financial advisers led by Clarus Securities Inc.

The flow-through shares have a hold period of four months and one day from closing, expiring on Oct. 18, 2020.

About Pure Gold Mining Inc.

The Pure Gold Red Lake mine is fully financed and 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.

We seek Safe Harbor.