PC Gold Inc.

PC Gold Inc.

September 26, 2011 07:30 ET

PC Gold Secures Senior Executive as Chief Operating Officer to Drive Underground Exploration Phase at Pickle Crow

OTTAWA, ONTARIO--(Marketwire - Sept. 26, 2011) - PC Gold Inc. (TSX:PKL) is pleased to announce that Mr. Peter J. Hooper has been appointed to the position of Chief Operating Officer of the Company, effective immediately. Mr. Hooper will lead the planning and execution of the proposed underground exploration phase at Pickle Crow.

A graduate in mining engineering from South Africa's Witswatersrand University, Mr. Hooper brings to PC Gold broad-based experience permitting, building, and operating mines, including hands-on expertise in mine management, engineering, operations and production. His practical work experience spans five continents: North America (Eldorado Nuclear, Sherritt Gordon, J.S. Redpath, Dynatec Engineering); Africa (Rustenburg Platinum, Consolidated Murchison, Prestea Gold Mines, Kilo Gold Mines, PMI Resources, and Nevsun Resources); China (Afcan Mining); Australia (Consolidated Rio Australia); and South America (Latin Gold, Macusani Yellowcake).

"We're delighted to have a senior mining executive of Peter Hooper's calibre join the Company," said Kevin Keough, President & CEO. "The Board is committed to adding further value to the Pickle Crow asset by progressing it through the underground exploration stage in an efficient, timely and cost-effective manner. To do this we require a strong, competent team with relevant engineering experience. In July we started building our in-house engineering capabilities with the addition of JP Chauvin to our board and the formation of a Technical Committee. We've considerably enhanced those capabilities with the addition of Peter as COO, and now have the team in place to competently execute on this crucial next phase of our program."

Team-building is one of several steps, including permitting, now underway to prepare for the underground exploration phase. The underground work will include a program of definition drilling designed to upgrade the current 1.26 million ounce NI 43-101 compliant gold resource*, and lift elements into the higher confidence Measured & Indicated category. This work is expected to provide the Company with the detailed information required to properly size infrastructure and subsequently carry out a prefeasibility study.

An animated video and rotating 3D model of the Pickle Crow gold mine, including underground workings and resources, can be viewed on YouTube at: http://www.youtube.com/watch?v=YRtBY26PXy8

Neil Pettigrew, M.Sc., P.Geo., Vice President, Exploration for PC Gold and the Company's Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this press release.

* Entirely NI 43-101 Inferred category. The NI 43-101 resource estimate was prepared by Fladgate Exploration Consulting Corporation, and audited and approved by Micon International Limited under the direction of Mr. B. Terrence Hennessey, P.Geo., MAusIMM, Vice President of Micon, an independent Qualified Person as defined by NI 43-101. Mr. Neil Pettigrew, Vice President, Exploration for PC Gold and the Company's Qualified Person, is also a partner in Fladgate. Mineral resources that are not mineral reserves do not have demonstrated economic viability. The quantity and grade of reported inferred resources in this estimation are conceptual in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured resource category.

A copy of the NI 43-101 compliant technical report dated June 2, 2011 containing full details of the resource estimation and entitled: "A Mineral Resource Estimate for the Pickle Crow Property, Patricia Mining Division, Northwestern Ontario, Canada" can be obtained from the Company's website at: http://www.pcgold.ca/en/Technical_Reports_52.html

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information