Pure Gold Minerals Inc.

Pure Gold Minerals Inc.

March 27, 2006 18:27 ET

Pure Gold Minerals Inc.: Colville Lake Update-Ground Geophysical Surveys Commence

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 27, 2006) - Donald R. Sheldon, President of Pure Gold Minerals Inc. (the "Company") (TSX:PUG), is pleased to provide this update of activities for the Colville Lake Property, which currently consists of 9 mineral claims and 61 prospecting permits totaling approximately 2.3 million acres and is located north of Norman Wells, Northwest Territories.

In 2005, the Company conducted an extensive exploration program including the collection of 910 till samples for Kimberlite Indicator Minerals ("KIMs"). Based on pick confirmed KIM results, the 2005 till sampling program has highlighted a number of priority areas requiring additional ground follow up during the 2006 field season. Detailed till line sample traverses were established from 1.0 km to 3.0 km down ice of selected 2004 airborne magnetic and 2005 electromagnetic anomalies. Positive pick confirmed KIM results from the detailed till line sampling programs have further enhanced the significance of a number of priority airborne magnetic anomalies supporting the location of additional ground follow up.

In the Central Main permit block area, pick confirmed till sample results from regional till line traverses are considered very encouraging. The density and distribution of KIM results in the Central Main permit block justifies an airborne magnetic survey in the spring of 2006 to highlight potential sources of KIMs located to date.

Soil Gas Hydrocarbon ("SGH") surveys were completed over two priority airborne magnetic anomalies to evaluate the survey technique for determining the presence of buried Kimberlite bodies. Results of the SGH survey on the Main Block permits returned a "High Probability" rating for the presence of a buried Kimberlite body. The second SGH survey was completed in the Colville Lake area returning a "Fairly Good Probability" rating and further supported by KIMs located down ice of the airborne magnetic anomaly. The significance of the SGH survey results will be further evaluated through ground based magnetic surveys.

In 2005, Goldak Airborne Surveys completed a triaxial gradiometer airborne magnetic survey totaling 31,051 line kilometers covering the western third of the Main block permits. A total of 14 airborne magnetic anomalies were selected as possible kimberlite targets. The down ice location of significant probe confirmed KIM results from the 2004 till sampling program greatly enhance the significance of a selection of the 2005 airborne magnetic anomalies.

Aurora Geosciences Ltd. of Yellowknife has mobilized to the Colville Lake Project area where ground magnetic surveys have been initiated. A total of 16 airborne magnetic anomalies will be evaluated by the ground based magnetic surveys and based on these results, gravity surveys will be completed to characterize the magnetic signatures in preparation for diamond drilling.

The Company is very pleased with the results obtained to date and subject to the results of current ground based geophysical surveys, looks forward to diamond drill testing those targets of merit in the spring of 2006. Exploration in the summer of 2006 will focus on defining targets for further testing by diamond drilling.

Rick Kemp, P.Geo., Qualified Person, as defined by NI 43-101, is responsible for the design and implementation of the 2006 field program. The Company has the option to earn an 85% interest in the properties subject to certain reversionary rights to De Beers Canada Inc.

Additional information relating to the Company's Colville Lake Property can be found by accessing the Company's Technical Report on the Colville Lake Property, dated March 3, 2006, and filed together with this news release on SEDAR at www.sedar.com.

This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information.

Contact Information

  • Pure Gold Minerals Inc.
    Donald R. Sheldon
    (604) 687-2038
    (604) 687-3141 (FAX)