PC Gold Inc.

PC Gold Inc.

February 24, 2015 07:30 ET

PC Gold Establishes Special Strategic Committee

TORONTO, ONTARIO--(Marketwired - Feb. 24, 2015) - PC Gold Inc. (TSX VENTURE:PKL) ("PC Gold" or "the Company") announces it has established an independent special strategic committee (the "SSC"). The SSC is mandated to evaluate strategic alternatives regarding the Company's Pickle Crow project located in Ontario's Patricia Mining Division, to deliver recommendations to the Board, and to negotiate potential transactions which may materialize and which may be confirmed by the Board as being in the best interests of the Company.

The SSC has not established a definitive timeline for its strategic review process; however, it intends to assess all available alternatives and opportunities over the next few months. PC Gold is currently in general discussions with various parties about potential transactions involving the Company and its Pickle Crow gold project. Details of potential developments, if any, will not be disclosed unless and until the Board has approved a specific transaction, or otherwise determines that disclosure is appropriate or required. There are no guarantees or certainties that the review process conducted by the SSC will result in any transaction.

The SSC consists of the Company's three independent directors-Messieurs Anthony Lloyd, Richard Brissenden and Jim Blake.

The Company further announces that it has hired IBK Capital Corp. ("IBK Capital") as PC Gold's financial advisor to assist the Company in this process. In addition to its advisory work, IBK Capital Corp. has been retained to act as agent for a proposed private placement by PC Gold of up to 14 million flow-through units at a price of $0.05 per FT unit for gross proceeds to the Company of up to $700,000 and up to 16 million non-flow-through units at a price of $0.05 per unit for gross proceeds to the company of up to $800,000 (see the Company's press release dated September 15, 2014).

About PC Gold

PC Gold Inc. is a Canadian gold exploration company currently focused on its 100% owned former producing Pickle Crow gold mine located in Northwestern Ontario. The Company is currently assessing an exploration program to further define the 22 / 23 vein structures on the Pickle Crow project from surface to 300m depth. Should future results and relevant economic analysis support such a course of action, the Company's objective is to commission the onsite 225 tons per day mill to mine the No. 22 / 23 veins by ramp.

About IBK Capital Corp.

IBK Capital is an independent and privately owned investment banking firm based in Toronto, which offers a full range of financial advisory services. Such services include private placements of equity and debt, going public by way of reverse take-over, merger, acquisition and divestiture advisory services, valuations, fairness opinions and take-over defence planning.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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