PC Gold Appoints New CEO and CFO

TORONTO, ONTARIO--(Marketwire - July 3, 2012) - PC Gold Inc. ("PC" or the "Company") (TSX:PKL)(FRANKFURT:AJ2) is pleased to announce that effective July 1, 2012, Peter Hooper, the Chief Operating Officer and a Director of the Company has been appointed President and Chief Executive Officer of PC Gold. Mr. Hooper replaces Jean-Pierre (JP) Chauvin, who has resigned as interim President and Chief Executive Officer of PC Gold but will remain a Director of the Company.

The Company also wishes to announce that Philip Gibbs has been appointed Chief Financial Officer of the Company effective July 1, 2012. Mr. Gibbs replaces Miles Nagamatsu, who has resigned as Chief Financial Officer of the Company. Mr. Gibbs has extensive experience in the financial management of major international corporations and Canadian-listed mining and mineral exploration companies. He is also Chief Financial Officer of Kilo Goldmines Ltd., Macusani Yellowcake Inc. and Asante Gold Corporation.

Anthony Lloyd, Chairman of the Company, stated, "On behalf of the Board, I would like to thank JP Chauvin for his contribution to the Company as interim President and CEO and his continued role as a Director. We are pleased that Peter Hooper has agreed to become the President and CEO. His extensive experience will be very significant in advancing the underground exploration and development program on the Pickle Crow property. We would also like to thank Miles Nagamatsu for his service and contribution to the Company, and we welcome Philip Gibbs as CFO."

Incoming President and CEO Peter Hooper stated, "PC Gold has an excellent asset within one of the most prolific gold regions in Canada, a highly competent team, and a Board of Directors that is firmly committed to advancing this project. I look forward to the opportunity of building value for shareholders and helping realize the true potential of this project."

Website: www.pcgold.ca

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This news release may contain forward looking statements concerning future operations of PC Gold Inc. All forward looking statements concerning the Company's future plans and operations, including management's assessment of the Company's project expectations or beliefs may be subject to certain assumptions, risks and uncertainties beyond the Company's control. Investors are cautioned that any such statements are not guarantees of future performance and that actual performance and exploration and financial results may differ materially from any estimates or projections.