OTTAWA, ONTARIO--(Marketwire - June 7, 2011) - PC Gold Inc. (the "Company") (News - Market indicators) is pleased to announce that it has filed a technical report entitled: "A Mineral Resource Estimate for the Pickle Crow Property, Patricia Mining Division, Northwestern Ontario, Canada" ("the report") with regulatory authorities. The report is dated June 2, 2011, and was authored by B. Terrence Hennessey, P.Geo., Alan J. San Martin, MAusIMM, and Sam J. Shoemaker, B.Sc., MAusIMM, Reg. Mem. SME, of Micon International Limited ("Micon"). The report includes the mineral resource estimate previously released on April 18, 2011. Both the report and the resource estimate are compliant with National Instrument 43-101, Standards of Disclosure for Mineral Projects ("NI 43-101"), and the CIM definition standards for mineral resources and mineral reserves referenced therein.

The main highlight of the report is an NI 43-101 inferred resource estimate for the Pickle Crow gold mine property totalling 1.26 million ounces of gold (10,150,000 tonnes averaging 3.9 g/t Au) (cut, diluted, constrained), the higher grade underground component of which is 1.1 million ounces (6,522,000 tonnes averaging 5.4 g/t Au), including a high grade vein component of 600,000 ounces (2,102,000 tonnes at 9.3 g/t Au), which the Company is presently focused on developing. As part of this development effort, the Company has committed funds to complete a preliminary economic assessment for the Pickle Crow gold mine asset, and is in the process of arranging permitting to allow for dewatering and potential reconditioning of the shaft system.

The resource demonstrates something new for Pickle Crow: millions of tonnes of bulk underground zones to complement high grade vein resources typical of the historical operation, in addition to a new open pit component, all of which remain open for expansion. Combining feed from these various mining styles is expected to allow for considerably more flexibility in future mine design and a potentially much larger operation than the historical Pickle Crow mine. 

The resource estimate component of the report was completed by Sean Horan of Fladgate Exploration Consulting Corporation ("Fladgate") of Thunder Bay, Ontario with the assistance of other Fladgate professional staff, and audited and approved by Micon. Descriptions in the report of location, geology, history, drilling and exploration were provided by Neil Pettigrew, M.Sc., P.Geo., Michael Thompson, P.Geo. and Jason Arnold, P.Geo., all of Fladgate, and PC Gold's Qualified Persons as defined by NI 43-101. The mineral resources were reviewed by B. Terrence Hennessey, P.Geo., MAusIMM, Vice President of Micon, an independent Qualified Person, with assistance from Alan San Martin, MAusIMM, and Sam J. Shoemaker, B.Sc., MAusIMM, Reg. Mem. SME. The report has been compiled under the overall direction of Mr. Hennessey. Mr. Hennessey has also reviewed and approved the contents of this press release. The contents of this press release have also been reviewed and approved by Mr. Pettigrew, Vice President, Exploration for PC Gold and the Company's Qualified Person.

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