PC Gold Inc.

PC Gold holds 100% ownership of a rare asset: Pickle Crow, one of Canada’s best known past producing gold mines, located in north western Ontario in a belt of rocks well known for its rich gold deposits. Since assuming ownership in 2008, the company has delivered an array of positive exploration outcomes from Pickle Crow, both within the vicinity of the mine and elsewhere on the Property. These include new high grade vein discoveries lateral to the workings such as the No. 19 Vein, the intercept of high grades in the historically top producing No. 1 Vein well below the mine, and new, near surface gold finds at Kawinogans and Central Pat East (CPE).

The company’s exploration efforts recently culminated when it demonstrated (press release, click here) (full technical report, click here) the presence in the Pickle Crow mine of a 1.26 million ounce NI 43-101 compliant gold resource* (10,150,000 tonnes averaging 3.9 g/t gold). The higher grade underground component of this initial resource is 1.1 million ounces averaging 5.4 g/t gold, including a high grade vein component of 600,000 ounces averaging 9.3 g/t gold. The resource is high quality, encompassing data from more than 1,500 drill holes, with conservative top cuts applied to assays, vein grades diluted to practical mining widths, and open pit resources constrained by pit shells. Subject to dewatering and reconditioning, the mine’s existing underground development potentially provides direct or proximal access to every one of the underground zones included in this initial resource.

With the principal early stage exploration goals for the Pickle Crow property now achieved, the company is presently embarking on a phase of advanced exploration. This includes team-building, scoping studies and permitting (all underway), leading to the anticipated dewatering and reconditioning of the historical workings. These preparatory steps are expected to be followed by a program of underground exploration and resource definition drilling, now in planning, designed to better define and lift current NI 43-101 Inferred level resources into higher confidence categories, expand known zones, and explore untested areas which cannot easily be accessed from surface.

Ultimately, the goal of these advanced exploration activities will be to provide the Company with the information required to properly size infrastructure such as shafts, hoisting capacity and mill, identify optimal operational scenarios, and subsequently complete a pre-feasibility study (PFS).

• Rotating 3D mine model showing new NI 43-101 compliant resource click here
• Powerpoint presentation click here
• NI 43-101 resource estimate report June 2, 2011 click here
• Annual Report for FY 2010 click here
• Historical photos including a table of gold bullion click here
• Film footage from 1966 showing a gold pour, courtesy of Lorne Bellamy, an employee in the PC assay lab at the time click here

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