puregold. building a mine.

PureGold. building a mine.

With the commencement of production, PureGold will be joining a small, elite group of gold producers with high-grade, multi-million ounce deposits located in prolific, mining-friendly jurisdictions such as Red Lake, Ontario, Canada. 

The high-grade/low-capex nature of the PureGold Mine reflects in its leverage to gold price: at US$1,500/oz. the After-Tax NPV5% is C$390mm with an After-Tax IRR of 51%2.

There is no better time to be pouring gold in Canada. We are delivering our first production into a rising gold market, set to generate well over C$800 million in cumulative pre-tax cash flow with gold currently near C$2,000 per ounce.3

You are in good company.

Over 30% of our share float is held by four gold visionaries that have distinguished themselves in founding and operating multi-billion dollar gold mining companies. Eric Sprott and Rob McEwen built multi-billion dollar companies Kirkland Lake Gold and Goldcorp, respectively, through the discovery of new, high-grade multi-million ounce deposits at the historical Fosterville, Macassa and Red Lake mines. Number one and number three gold producers Newmont Goldcorp and AngloGold Ashanti, are also key strategic shareholders.

pure focus.

The PureGold Red Lake Mine has a current indicated resource of 2,063,000 ounces gold at 8.9 g/t gold (in 7.2 million tonnes), an inferred resource of 467,000 ounces gold at 7.7 g/t gold (in 1.9 million tonnes), and benefits from existing infrastructure including a mill and tailings facility, paved highway access, and access to power, water and experienced labour.1 The recently released feasibility study for the Pure Gold Red Lake Mine outlines an 800 tonne per day underground mining operation with a 12 year mine life, Probable Mineral Reserves of one million ounces of gold grading 9 g/t in 3.5 million tonnes, and a low initial capital cost of C$95 million (US$71 million), putting the Pure Gold Red Lake Mine firmly on the path to becoming Canada’s next iconic gold producer.1

The PureGold Red Lake Mine has the same geological setting as the other mines in the Red Lake camp that have collectively produced over 29 million ounces of gold. Today it is the highest grade underground development-stage deposit in Canada and, in production, its grade will be higher than 92% of mines in production globally.5

With clear exploration upside as demonstrated by the near surface discoveries at Wedge, Fork and Russet South as well as down plunge along the 7+ kilometre gold system, the Company will continue to pursue a growth strategy, across the 47-km2 property.


Production Stage:
The First Phase in the PureGold Red Lake Mine Strategy

The PureGold Red Lake Mine is a multi-generational asset. With historical production of 2.6 million ounces of gold, a current indicated resource of 2.1 million ounces at 8.9 g/t gold (in 7.2 million tonnes), and an inferred resource of 467,000 ounces gold at 7.7 g/t gold (in 1.9 million tonnes), we are committed to finding the next five million ounces.3   

pure talent.

PureGold’s management has deep roots in Red Lake – and a rich and intimate knowledge of the geology acquired during their years of mining and exploring in the area.

As a company founded by Oxygen Capital, PureGold Mining shares the “DNA” of the Oxygen family of companies: the company is built around a data-rich, tier-1 deposit in a tier-1 jurisdiction with board, management and technical teams that have a track record of success from early gold exploration through to production. The PureGold Red Lake Mine will be Oxygen's third mine to go into production in 4 years.

PureGold is a true growth company.

Our mandate is pure and simple. To dream big. To colour outside the lines. To use creativity and smart science to unlock the true potential of the PureGold Red Lake Mine, located in Red Lake, Ontario. In advancing the Pure Gold Mine to production, we are leading the Red Lake camp to become Canada’s next large-scale, iconic gold producer.

PureGold. Dream Big.

More than 29 million ounces of high grade gold have been mined in the legendary Red Lake district of northwestern Ontario, making this one of the largest gold producing districts in Canada.

In a world of low margin ounces from increasingly unpredictable jurisdictions, this district continues to produce some of the highest grade and highest margin gold ounces in the world.

That’s why PureGold is 100% focused, and on track, to becoming Canada’s next large-scale, iconic gold producer.

  1. Please see News Release NR 19-21: Pure Gold Secures US$90 Million Construction Finance Package and Announces Construction Decision for Madsen Red Lake Mine, August 6, 2019.
  2. See the National Instrument 43-101 technical report entitled “Madsen Gold Project Technical Report, Feasibility Study for the Madsen Deposit, Red Lake, Ontario, Canada” with an effective date of February 5, 2019 and dated July 5, 2019 for complete details, available on the Company’s website at www.puregoldmining.ca or Sedar profile at www.sedar.com.
  3. Please see News Release NR 19-23 Pure Gold Awards Engineering and Procurement Contracts, Bulids Owners Team, and Commences Construction of it's 100% Owned Madsen Gold Mine, September 6, 2019.
  4. Percentage ownership based on basic shares outstanding; ownership information based on public disclosure, August 2019.
  5. Source – S&P Global Market Intelligence, October 2018.