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Dear Pilar Gold Shareholders and Interested Parties

We are pleased to let you know that drilling has commenced at Maria Lázara South East (MLSE) to test how big this deposit can grow. Our plan is to drill the structure between the current mine (MLZ) and drill hole MLSE013 some 2 kilometres to the south which intersected 3.68m @ 8.97g/t at a depth of 251.24m during a 2017 drill programme.
 
We have secured 2 excellent rigs to undertake 5,075 metres of surface drilling.  This is in addition to the 7,200 metres that is ongoing underground at MLZ for grade control.  Our MLZ mine is higher grade than the Pilar mine and currently enjoying mill grades of around 1.8 g/t compared to Pilar which is between 1.2-1.6 g/t Au.  See our Chief Geo Paulo Aguirres internal management presentation on the MLSE programme.
Maria Lázara SE Drilling Update (Download)
The Pilar underground mine has a gold resource of 2.9moz whilst MLZ is currently only 800,000 ounces. Our target is to get to around 3 million ounces at MLZ plus MLSE and 4 million at Pilar over the next 2 years. Paulo presented me with his drilling wish list for 2022 last night asking for 66,400 metres on MLZ, MLSE, Pilar, Caiamar, Tres Buracos, Sertão, Cascavel, Eliseu, Sierra, Xupe, Jardim, Estrela and Livramento. I think this illustrates the depth of our portfolio and our potential to get to 10 million ounces of resources.
 
Drilling at Sertão is going really well at Stage 5 with hole SRSD0017 returning 2m @ 11.8 g/t Au from 129 metres from our own PDGM lab.  The other half of this core is now at ALS for confirmation.  We also had some good news from holes SRSD0013 and 14 at Stage 4 where ALS results came back at 218 g/t and 78.6 g/t respectively which was slightly better than our own lab results of 209 g/t and 74 g/t.  We strongly believe Sertão will be a world class mine again.  
 
Our fund raising that will help pay for some of this drilling is going well.  See the link below to subscribe.
Pilar Gold - Electronic Subscription Agreement (Apply Here)
Call Edward or myself anytime for an update and speak soon.
 
Regards

Jeremy Gray - CEO, Pilar Gold Inc

Contact numbers:
Jeremy Gray +44 7769 388 376
Edward Balme +44 7514 584 610
Copyright © 2021 Pilar Gold, All rights reserved.


Our mailing address is:
Pilar Gold
2032 45 Avenue SW
Calgary, AB T2T 2P5
Canada

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