Pilot Gold intersects 58.8 metres of 2.24 g/t gold in Utah

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**CORRECTION: Due to a technical glitch, the previous drill results dropped the decimal point. Correct drill results are stated below.

Pilot Gold Inc. [PLG-TSX] announced additional drill results from six reverse circulation (RC) and 4 diamond core holes at the 100%-controlled, past-producing, Goldstrike Oxide Gold Project in southwestern Utah.  The primary target is Carlin-style shallow, oxide gold mineralization on the 7 km long, 2 km wide “Historic Mine Trend”, between and down-dip to the north of historic open pits.

Highlights from infill and step-out drilling include:

·0.87 grams per tonne gold (g/t Au) over 45.4 metres (m) in PGS046C - core hole

·0.76 g/t Au over 67.1 m in PGS053, including 1.91 g/t Au over 6.1 m

·2.24 g/t Au over 58.8 m in PGS054C, including 2.77 g/t Au over 36.2 m, including 6.04 g/t Au over 3.0 m – core hole

·0.96 g/t Au over 76.2 m in PGS058, including 1.98 g/t Au over 19.8 m 

·0.46 g/t Au over 29.5 m in PGS059CA – core hole

·0.52 g/t Au over 25.9 m and 0.42 g/t Au over 25.9 m in PGS064

Nine of the 10 released holes contain reportable oxide gold intercepts.  The mineralized intercept in drill hole PGS054C is a follow-up to PGS026, which returned 57.9 m grading 1.19 g/t Au, PGS027, which returned 47.2 m grading 1.14 g/t Au which returned 41.1 m grading 2.64 g/t Au. This is a new zone of mineralization down-dip of a historic surface showing and demonstrates the potential for discovery of higher-grade and more extensive mineralization in the shallow subsurface.

Key Points:

  • Continued drilling of the main gold host horizon, the Claron Formation, has resulted in the discovery of new areas with high-grade feeder structures, including mineralization encountered in PGS058.  A more concentrated RC drill pattern will be used to define these mineralized zones.
  • Continued drilling to date confirms gold mineralization with significant width and grade over virtually the entire Goldstrike Graben over an east-west distance of 1.4 km by 200 to 400 m north-south.
  • An additional 30 drill holes are proposed within this area before extending the infill step-out drill program up to 4.5 km to the west and 1 km to the east following the historical mine trend.
  • New drill intercepts indicate the possibility of thicker zones of mineralization in newly-tested areas, with some intercepts, including PGS058, of up to 76 m drilled thickness.

For photographs of representative core samples and corresponding assays for the full mineralized intercepts in core holes PGS46C, PGS54C, PGS056C and PGS59CA, please click here: http://pilotgold.com/sites/default/files/GoldstrikePR1615CorePhotos.pdf

Mineralization in most holes is strongly oxidized, with AuCN assays typically between 70% and 100% of conventional fire assays.

For a complete table of drill results for the current 10 holes, please click here: http://pilotgold.com/sites/default/files/GS_Intercepts06202016.pdf

RC drilling is ongoing, with on average 5 RC drill holes completed per week.

The Goldstrike property is located in the eastern Great Basin, immediately adjacent to the Utah/Nevada border, and is a Carlin-style gold system, similar in many ways to the prolific deposits located along Nevada’s Carlin trend.  Previous mining at Goldstrike occurred from 1988 to 1994, with 209,000 ounces of gold produced from 12 shallow pits, at an average grade of 1.2 g/t Au.

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