PGK

PNG Gold Corporation ("PNG Gold" or the "Company") (TSX VENTURE:PGK) is pleased
to announce gold and silver assay results from 11 diamond drill holes from
Imwauna Main Structure. Several holes in Table #2 were previously announced on
March 12, 2013 some of which contained only partial gold and silver assay
results.


Table #1 highlights the assay results from hole IMH-272 which contain highly
prospective gold grades, typical of low sulphidation epithermal deposits and
known to occur along the Imwauna Main Structure from previous drilling programs.
Since January 2013 the company has drilled 45 diamond drill holes for a total of
14,038.75 metres on the Imwauna Main Structure. Final assay results have been
received for all of the holes noted in Table #2.




                                                                            
                          Table #1 - Highlight Hole                         
                                                                            
Hole #              From           To Drill Length         Gold       Silver
                     (m)          (m)          (m)    (g/tonne)    (g/tonne)
                                                                            
IMH272            194.00       196.50         2.50        51.21       124.20



Key Highlights



--  Two year renewal of licences EL 1069 and EL 1091 completed. 
--  First phase of drilling completed on the Imwauna Main Structure. 
--  Equipment being mobilized to drill test EL 1069. 
--  Personnel reduced during stand-down on EL 1091. 
--  More assay results pending on approximately 52 diamond drill holes on EL
    1091. 



Diamond drilling has now tested the Imwauna Main Structure to over 250 metres
below surface and demonstrates good continuity of the structure. Gold
mineralization is directly related to epithermal quartz veining which varies in
thickness throughout the structure. Higher-grade gold mineralization generally
occurred in areas of greater quartz vein concentrations exhibiting multiple
pulses of hydraulic brecciation.


The first phase of diamond drilling is now complete at Imwauna and further
drilling stopped while the Company awaits receipt of all assays from this
program. Upon completing a review of the results and the model, a second stage
drilling plan will then be formulated for Imwauna. Also, during this period, one
drill rig is being mobilized to test epithermal style gold mineralization on PNG
Gold's 100% owned EL 1069. The proposed program will entail 1000-2000 metres of
drilling to test known gold mineralization and related induced polarization
chargeability and resistivity anomalies.


Assay results received are as follows:



                           Table # 2 - Henry Zone                           
Section 1                                                                   
                                                                            
Hole ID           From           To  Core Length          Gold        Silver
                   (m)          (m)          (m)   grams/tonne   grams/tonne
IMH263           40.00        41.00         1.00          0.02        318.00
IMH264           60.00        63.00         3.00          3.61        407.17
including        62.00        62.50         0.50          9.22      2,351.00
IMH265           72.00        80.00         8.00          1.40          8.38
IMH267          134.60       136.05         1.45          0.30        132.59
including       134.60       135.55         0.95          0.02           195
IMH268          149.30       154.05         4.75          4.46         10.68
including       150.00       151.30         1.30         11.90         16.00
IMH270          172.50       174.35         1.85          2.83          5.68
including       172.50       173.00         0.50          8.34         14.00
IMH272          194.00       196.50         2.50         51.21        124.20
including       194.50       195.00         0.50        187.00        316.00
                                                                            
Section 2                                                                   
                                                                            
Hole ID           From           To  Core Length          Gold        Silver
                   (m)          (m)          (m)   grams/tonne   grams/tonne
IMH266          186.30       188.50         2.20          1.59          2.32
and             193.65       194.20         0.55          1.53          5.00
IMH269          109.40       110.60         1.20          1.30          4.00
and             160.80       162.00         1.20          1.15          2.00
and             167.40       168.40         1.00          1.89          2.00
and             211.00       212.50         1.50          2.18          2.00
and             215.20       216.00         0.80          2.05          2.00
IMH271          172.00       173.00         1.00          1.18          2.00
and             226.90       229.00         2.10          6.56          6.65
and             243.60       244.20         0.60          0.55          3.00
                                                     less than             
and             247.00       248.00         1.00         0.005         43.00
IMH273           21.20        23.50         2.30          1.68        132.57
and             240.40       240.90         0.50          2.11          2.00
and             257.80       258.40         0.60          2.95          3.00
and             263.10       263.90         0.80          1.90          1.00



Qualified Person

Mr. Lorne Warner, P.Geo, COO of PNG Gold Corporation is a qualified person in
accordance with National Instrument 43-101 and has reviewed and approved the
technical information contained in this news release.


All core samples are cut in half on-site and sent to our Alotau office for
direct shipment to Intertek (ITS (PNG) Limited) laboratory in Lae, Papua New
Guinea an ISO/LEC 17025 certified laboratory. Gold analysis is completed by a 50
gram charge, fire assay/AAS and for silver a 50 gram charge using two acide AAS.
The company inserts a standard, blank and requests a duplicate sample be run in
every batch of 20 samples. In addition, the lab inserts in-house blanks,
standards and duplicates with each shipment. Data that fall outside the control
limits are checked and repeated as necessary.


About the Normanby Island Projects

EL 1091 Imwauna

The Imwauna exploration licence -- EL 1091 -- is located on the north side of
Normanby Island, approximately 80 kilometres northeast of Alotau, the provincial
capital of Milne Bay province, eastern Papua New Guinea. The project consists of
two main prospects, Imwauna and Kelas, along with numerous untested prospects.
The Imwauna gold deposit is a high grade, near surface, low sulphidation,
epithermal vein gold system. Gold mineralization ranges from 0.5 metres to 6.0
metres in the Imwauna Main structure. The Imwauna prospect remains open in the
North and South at strike and at depth.


EL 1069 Sehulea

The Sehulea exploration licence - EL 1069 - is located north east of Imwauna on
Normanby Island and contains several low sulphidation epithermal gold deposits
which require additional drill testing. Previous results indicate the area
contains extensive lower grade gold mineralization over intercepts of up to 60
metres core length with grades ranging between 1-2 g/tonne gold. Mineralization
is associated with extensive silicification, disseminated, and semi-massive
pyrite, with a positive correlation between higher pyrite concentrations and
gold.


About PNG Gold Corporation

PNG Gold Corporation is an exploration company with an advanced stage drilling
program in Papua New Guinea. PNG Gold holds a 100% interest in the Imwauna and
Sehulea properties on Normanby Island, Milne Bay Province, Papua New Guinea, and
trades on the TSX Venture Exchange under the symbol PGK. PNG Gold's mission is
to become the premier exploration and development company in Papua New Guinea.


FORWARD-LOOKING STATEMENTS

Forward-Looking Statements - This document contains forward-looking information.
Often, but not always, forward-looking information can be identified by the use
of words such as "plans", "expects" or "does not expect", "is expected",
"estimates", "intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or states that certain actions, events
or results "may", "could", "would", "might" or "will" be taken, occur or be
achieved. Forward-looking information involves known and unknown risks,
uncertainties and other factors which may cause the actual results, performance
or achievements of PNG Gold Corporation ("PNG" or the "Company") to be
materially different from any future results, performance or achievements
expressed or implied by the forward-looking information. 


Examples of such statements include: statements pertaining to PNG's proposed
exploration and development activities and method for funding thereof, timing of
development of undeveloped gold resources, gold extraction, processing, recovery
and production levels, expectations regarding the ability to raise capital and
to continually add to resources through acquisitions/development, treatment
under governmental regulatory regimes and tax laws, capital expenditure programs
and the timing and method of financing thereof, the development plans and status
of assets, future growth and performance.


Actual results and developments are likely to differ, and may differ materially,
from those expressed or implied by the forward-looking information contained in
this document. Such forward-looking information is based on a number of
assumptions which may prove to be incorrect, including, but not limited to: the
ability of PNG to obtain necessary financing and adequate insurance; the economy
generally; and, current and future stock prices, results of operations and
exploitation, exploration and development activities, fluctuations in gold
prices and market conditions, the extent of gold resources and future growth and
performance, the regulatory and foreign environment, future capital and other
expenditures (including the amount, nature and sources of funding thereof),
uncertainty of resource estimates, the availability of necessary exploration and
development equipment, competitive advantages, fluctuations in foreign currency
exchange rates, property title and investments, business prospects and
opportunities, transportation and construction delays, possible variations of
ore grade or recovery rates, failure of plant, equipment or processes to operate
as anticipated, accidents, labor disputes and other risks of the mining
industry, political instability, arbitrary changes in law, delays in obtaining
governmental approvals and anticipated and unanticipated costs. The factors
identified above are not intended to represent a complete list of the factors
that could affect PNG. Additional risk factors are noted under the heading "Risk
and Uncertainties" in the Company's MD&A for the year ended December 31, 2012
that was filed on SEDAR.


Should one or more of these risks or uncertainties materialize, or should
assumptions underlying the forward-looking information prove incorrect, actual
results, performance or achievement may vary materially from those expressed or
implied by the forward-looking information contained in this document. These
risk factors should be carefully considered and readers are cautioned not to
place undue reliance on forward-looking information, which speaks only as of the
date of this document. All subsequent forward-looking information attributable
to PNG herein is expressly qualified in its entirety by the cautionary
statements contained in or referred to herein. PNG does not undertake any
obligation to release publicly any revisions to this forward-looking information
to reflect events or circumstances that occur after the date of this document or
to reflect the occurrence of unanticipated events, except as may be required
under applicable securities laws.


ON BEHALF OF PNG GOLD

Greg Clarkes, CEO and Director

PNG Gold Corporation

The securities have not been registered under the United States Securities Act
of 1933, as amended, or any state securities laws and may not be offered or sold
in the United States absent registration thereunder or an applicable exemption
from such registration requirements. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy any of the securities in
the United States.



FOR FURTHER INFORMATION PLEASE CONTACT: 
PNG Gold Corporation
Greg Clarkes
CEO and Director
(604) 669 4899
(604) 685 2345 (FAX)
www.pnggold.com

PNG Gold Corporation (TSXV:PGK)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

PNG Gold Corporation (TSXV:PGK)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024