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Pilot Gold Announces Additional Drill Results from Main Zone at Goldstrike Project

Reviewed

Dec 2 2016

Pilot Gold Inc. ("Pilot Gold" or the "Company") is pleased to announce additional drill results from the Main Zone at the 100% controlled Goldstrike Project in southwestern Utah. The primary target is shallow, Carlin-style, oxide gold mineralization within the 14 km² "Historic Mine Trend", between and down-dip of historic open pits.

Highlights include:

2.00 g/t Au over 7.6 m in PGS107
0.88 g/t Au over 9.1 m in PGS 108
0.47 g/t Au over 25.9 m in PGS109
0.52 g/t Au over 10.7 m in PGS 110
0.51 g/t Au over 13.7 m in PGS 113
0.70 g/t Au over 25.9 m in PGS114
0.42 g/t Au over 10.7 m and 0.87 g/t Au over 10.7 m in PGS115
1.20 g/t Au over 22.9 m including 2.48 g/t over 6.1 m in PGS117
0.84 g/t Au over 10.7 m including 1.20 g/t over 6.1 m and 0.83 g/t Au over 10.7 m in PGS126
0.80 g/t Au over 22.9 m and 0.84 g/t Au over 27.4 m in PGS129

* Please note that due to having two drills on the property, assay results for the holes are not necessarily received in sequence.

KEY POINTS

Drilling has concluded in the Main Zone (located on the eastern end of the Historic Mine Trend) to prepare it for inclusion in a resource estimate, projected for completion in Q1/Q2 2017.
Over 30 additional drill holes are currently pending assay results. Of the 21 released drill holes, 18 holes contained mineralized intercepts of at least 0.26 g/t Au and nine of those contained a second mineralized intercept. Three holes had no significant results.
Assay results are pending from 17 holes drilled in the Dip Slope target, an area approximately 2.5 km long and up to 750 m wide, located to the north of the Main Zone. This area hosts several historic pits with unmined gold intercepts in historic holes and much of the target area is very sparsely drilled.
One drill is currently focused on the Covington - Moosehead historical pit areas, testing the main graben-bounding Covington fault.
A second drill is testing the Peg Leg Graben, located to the southwest of the Main Zone. Results are pending from all of these holes.
Hole PGS129 is a new discovery area in the Main Zone, extending to the north towards the Dip Slope target.