Phoenix Gold Resources Corp.

Phoenix Gold Resources Corp.

July 07, 2014 09:00 ET

Phoenix Gold Announces Completion of Mapping and Prospecting Program and the Start of the Drill Program at its Properties in Battle Mountain, Nevada

TORONTO, ONTARIO--(Marketwired - July 7, 2014) - Not for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities laws.

Phoenix Gold Resources Corp (TSX VENTURE:PXA), (the "Company" or "Phoenix Gold") is pleased to announce that it has completed the detailed mapping and prospecting program and plans to start the drill program on the Company's mineral properties located at Battle Mountain, Nevada (the "Phoenix Gold Properties").

Mapping and Prospecting Program

The Company has completed the detailed mapping and prospecting program (the "Program") on its Phoenix Gold Properties. Based on the detailed understanding and interpretation of the geology and structural controls over the Phoenix Gold Properties six drill sites have been located for the proposed Plumas Property drill program.

Drill Program and Drill Contractor

The Company has awarded an 8 hole, approximately 1,000 meter drill contract to Redcor Drilling Inc. of Winnemucca, Nevada for the Plumas Property. Drilling is expected to commence the week of July 14th, 2014.

The Plumas Property is an outcropping high grade gold mineralized system that has never been drill tested, located adjacent to Newmont's Phoenix-Fortitude pit to the east. The Plumas Property has two patented claims for a total of 40 acres with extralateral rights and one mill site claim.

About Phoenix Gold

Phoenix Gold is a Canadian junior exploration company with strategically located mineral properties in Nevada's prolific Battle Mountain District. These properties are immediately adjacent to Newmont's Phoenix -Fortitude Gold/Copper Mine. With a defined strategy to delineate resources and create value to shareholders, Phoenix Gold has an experienced management team with an excellent track record of discoveries, including its most recent being the Condor Gold Project in Ecuador.

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

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