OTTAWA, ONTARIO--(Marketwire - Sept. 15, 2011) - PC Gold Inc. (News - Market indicators) is pleased to report that a major shallow drilling program is now underway at Pickle Crow, targeting the near surface (0-150 metres) areas of a thick unit of banded iron formation (the "No. 1 BIF") which cuts through the historical workings, as well as high grade cross-cutting structures such as the historically top-producing No. 1 and No. 5 veins. Up to 22,000 metres of drilling is anticipated, for completion by the end of November. Two drills are presently active on this work, with progressive ramp-up to four expected by October.

The goal of the program is to expand existing open pit resources in the core mine trend. Should the program be successful, it could lead to the definition of several smaller open pits along the surface expression of the No. 1 BIF, or potentially a single large pit. The No. 1 BIF represents a substantial target, occupying some 1.1 kms of strike length. It is believed to average approximately 30 metres true width, with local thickening to over 60 metres. 

The shallow drill program will build upon the high quality 1.26 million ounce NI 43-101 compliant gold resource* (10,150,000 tonnes averaging 3.9 g/t gold), which the company recently delivered and which it is now focused on taking to the advanced (largely underground) exploration stage, for which permitting is underway. The initial resource includes a higher grade underground component comprising 1.1 million ounces averaging 5.4 g/t gold, including a high grade vein component of 600,000 ounces averaging 9.3 g/t gold.

Commenting on the fall drill plans, Kevin Keough, President & CEO stated: "The initial 1.26 million ounce resource estimate delivered in April this year includes a 126,000 ounce open pit component largely hosted in the No. 1 BIF. We believe there is excellent potential to expand these open pit resources through a combination of in-fill drilling between existing modeled pits, drilling of the strike extensions of the BIF unit, and drilling of the lateral extensions of known high grade veins hosted in cross-cutting structures."

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

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