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Pilot Gold Drills 25.7 g/t Gold Over 16.5 Metres, Further Demonstrating High-Grade Continuity at KCD Target, TV Tower

Pilot Gold Drills 25.7 g/t Gold Over 16.5 Metres, Further Demonstrating High-Grade Continuity at KCD Target, TV Tower 
Successful 2012 Drill Program Identifies and Expands Gold and Silver
Mineralization 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/19/13 -- Pilot Gold
Inc. (TSX:PLG) ("Pilot Gold" or the "Company") is pleased to report
encouraging results from the 15 remaining diamond core holes from its
Phase 1 drilling program at TV Tower's KCD target in northwestern
Turkey. The holes are wide-spread across the property and targeted
KCD's gold and silver zones. 
Infill drilling highlights include: 


 
--  25.7 g/t gold (Au), 47.2 g/t silver (Ag) and 2.12% copper (Cu) over 16.5
    metres in KCD-102, including 
    --  142 g/t Au, 141 g/t Ag and 3.39% Cu over 2.0 metres
--  13.9 g/t Au over 6.3 metres in KCD-99

 
Drill holes KCD-99 and KCD-102 were designed to demonstrate
continuity and establish the thickness and orientation of a zone of
high-grade mineralization originally discovered in KCD-50 (227 g/t
gold over 12.0 metres; see media release dated Jan. 22, 2013). Drill
results to date support the interpretation that this zone of high
grade is continuous over a significant area.  
Exploration drilling highlights include: 


 
--  4.71 g/t Au and 71.7 g/t Ag over 8.5 metres and 2.93 g/t Au over 8.0
    metres in KCD-95 

 
Drill holes KCD-95 and KCD-107 tested the gold and silver zones north
and east of the current target footprint. KCD-95 was drilled
northeast and down dip of KCD-75 in the southeastern portion of the
gold mineralized zone. KCD-107, drilled approximately 150 metres to
the northeast of KCD-95 in an area with no previous drilling,
returned 0.32 g/t gold over 19.0 metres. The presence of gold over a
significant interval in this location considerably extends the
potential for additional mineralization beyond the limits of previous
drilling, and merits further drilling to ascertain its significance. 
"We have completed Phase 1 drilling on a very positive note, by
demonstrating continuity of the high grades intercepted in KCD-50,"
said Matt Lennox-King, President and CEO, Pilot Gold. "Our first
program as operator has confirmed a large, central gold zone overlain
by a robust silver blanket. Both remain open in multiple directions
and will be aggressively followed-up in our upcoming drill program." 
For a comprehensive table of results related to gold mineralization,
please click: http://www.pilotgold.com/sites/default/files/TVTowerDri
llResults1308.pdf 
For a map highlighting recent drilling, please click:
http://www.pilotgold.com/sites/default/files/TVTowerDrillMap1308.pdf 
Approximately 14,440 metres in 70 holes at KCD were completed since
the program commenced in June 2012, with all assays now received and
publicly released. Drilling was suspended in early February due to
winter weather, and will resume in late March. 
Project summary  
As the project operator since June 2012, Pilot Gold designed and
conducted a comprehensive, systematic, property-wide exploration
program composed of grid-based soil sampling, regional prospecting
and rock sampling, airborne electromagnetic and magnetic surveys, and
geological mapping. The program was implemented to refine and
discover new targets on the property. 
The exploration work resulted in several targets being upgraded to
drill-ready at TV Tower. In addition, new target types were
identified, including low-sulphidation gold-silver veins with bonanza
grades obtained in surface sampling. 
The drilling program on KCD successfully extended gold, silver and
copper mineralization in all directions from early holes KCD-02
through KCD-05. Gold was encountered in drilling over an area now
measuring approximately 400 metres x 250 metres, overlain by a zone
of continuous silver mineralization now measuring approximately 600
metres x 400 metres.  
Significant drill intercepts included: 


 
--  KCD-39: 5.94 g/t Au, 12.64 g/t Ag, 0.53% Cu over 137.1 metres, including
    18.88 g/t Au over 27 metres: Starting in breccia identified in discovery
    hole KCD-002, the hole quickly transitioned into volcaniclastic rocks
    and encountered new mineralization in a stratiform vuggy silica zone,
    signifying that mineralization could be traced well beyond the boundary
    of the breccia.
     
--  KCD-50: 227 g/t Au over 12.0 metres: Collared 70 metres northwest of
    KCD-39, the hole intercepted shallowly dipping veins bearing visible
    gold. The results, in conjunction with observations from other nearby
    holes, showed the presence of widespread, vein-hosted gold
    mineralization.
     
--  KCD-104: 69.0 g/t Ag over 94.0 metres, including 255 g/t Ag over 18.1
    metres: The most westerly hole of the silver blanket also returned some
    of the strongest grades. The silver zone remains open to the west and
    north.

 
Significant structural and stratigraphic complexities, complex
distribution and styles of mineralization, and localized high gold
grades were encountered in the gold zone. Therefore, the average
density of drill intercepts was reduced from 50-metre centres
(anticipated in the original drill plan) to 20- to 30-metre centres
in order to adequately test the distribution and controls on
mineralization. The gold zone is still open down-dip to the north and
to the northwest. The silver zone is largely separate from the gold
zone, and its distribution appears to be largely focused on an
interval of fluvial-lacustrine strata overlying the gold zone. The
silver zone is open to the north and west, with some of the thickest
and highest-grade intercepts returned from holes drilled on the
western edge of the zone.  
"Our first eight months as operator at TV Tower has been very
productive and led to a new and deeper understanding of the KCD
target," said Moira Smith, Chief Geologist, Pilot Gold. "We are
looking forward to further testing of KCD in 2013, building towards
an initial resource estimate by year-end." 
2013 program 
The 2013 exploration program at TV Tower is designed to build upon
strong successes in 2012 and will include the following: 


 
--  15,000 metres of infill and step-out drilling, metallurgical testing,
    check assaying, geologic mapping and target refinement at KCD 
--  7,500 metres of drilling at the Kayali gold oxide target, located eight
    kilometres south of the KCD target. This target was previously drill
    tested, returning 0.87 g/t gold over 114.5 metres in KYD-01  
--  7,500 metres of drilling at the Columbaz low sulphidation gold-silver
    vein target, located two kilometres south of KCD 
--  Continued geological mapping, prospecting, rock sampling, infill soil
    sampling and other activities related to property-wide target definition

 
About TV Tower: 
TV Tower is a joint venture between Pilot Gold (40%) and Teck
Madencilik Sanayi Ticaret A.S. (60%), a Turkish subsidiary of Teck
Resources Limited ("Teck"). Pilot Gold is project operator at TV
Tower and can increase its interest in the project to 60%, through
sole funding of exploration over a three-year period. (See press
release dated June 21, 2012 for full details of the agreement terms.) 
Located on the Biga Peninsula in northwest Turkey, TV Tower
encompasses 71 square kilometres. It contains a large number of
targets ranging from high- and low-sulphidation epithermal
gold-silver to porphyry gold-copper. The project has an extensive
road network and targets to date all lie on land administered by
Turkey's Ministry of Forestry. It is located immediately west of the
Kirazli gold project (Alamos Gold) and approximately 10 kilometres
northwest of the Halilaga copper-gold project (Teck/Pilot Gold). 
Moira Smith, Ph.D., P.Geo., Chief Geologist, Pilot Gold, is the
Company's designated Qualified Person for this news release within
the meaning of NI 43-101 and has reviewed and validated that the
information contained in the release is accurate. Drill composites
were calculated using cut-offs of 0.3, 3.0 and 10.0 g/t Au. Drill
intersections are reported as drilled thicknesses. True widths of the
mineralized intervals are interpreted to be between 50-100% of the
reported lengths. Drill samples were assayed by AcmeLabs in Ankara,
Turkey and Vancouver, B.C. for gold by Fire Assay of a 30 gram (1
assay ton) charge with ICP-ES or AAS finish, or if over 5.0 g/t were
re-assayed and completed with a gravimetric finish. Ag and Cu were
determined by ICP-MS, with overlimits (greater than 100 ppm Ag or
greater than 10,000 ppm Cu) completed by fire assay with gravimetric
finish (Ag) or 4-acid digestion with ICP-ES finish (Cu). QA/QC
included the insertion and continual monitoring of numerous standards
and blanks into the sample stream, and the collection of duplicate
samples at random intervals within each batch.  
TV Tower is an early stage exploration project and does not contain
any mineral resource estimates as defined by National Instrument
43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").
The potential quantities and grades disclosed herein are conceptual
in nature and there has been insufficient exploration to define a
mineral resource for the targets disclosed herein. It is uncertain if
further exploration will result in these targets yielding a mineral
resource. 
ABOUT PILOT GOLD 
Pilot Gold is a well-funded gold exploration company led by a proven
technical team that continues to discover and define high-quality
projects featuring strong grades, meaningful size and mining-friendly
addresses. Our three key assets include interests in the TV Tower and
Halilaga projects in Turkey, and the Kinsley Mountain project in
Nevada, each of which has the ability to become a foundational asset.
We also have a pipeline of projects characterized by large land
positions and district-wide potential that can meet our growth needs
for years to come.  
For more information, visit www.pilotgold.com. 
Further information is available in the technical report entitled
"Updated Technical Report on the TV Tower Exploration Property,
Canakkale, Western Turkey", effective July 15, 2012 and dated August
3, 2012, prepared by Paul Gribble, B.Sc., C.Eng., FIMMM, UK Manager,
Geology of Tetra Tech WEI Inc., under Pilot Gold's Issuer Profile on
SEDAR (www.sedar.com).  
All statements in this press release, other than statements of
historical fact, are "forward-looking information" with respect to
Pilot Gold within the meaning of applicable securities laws,
including statements that address timing of exploration and
development plans at the Company's mineral projects. Forward-looking
information is often, but not always, identified by the use of words
such as "seek", "anticipate", "plan", "continue", "planned",
"expect", "project", "predict", "potential", "targeting", "intends",
"believe", "potential", and similar expressions, or describes a
"goal", or variation of such words and phrases or state that certain
actions, events or results "may", "should", "could", "would", "might"
or "will" be taken, occur or be achieved. Forward-looking information
is not a guarantee of future performance and is based upon a number
of estimates and assumptions of management at the date the statements
are made including, among others, assumptions about future prices of
gold, copper, silver and other metal prices, currency exchange rates
and interest rates, favourable operating conditions, political
stability, obtaining governmental approvals and financing on time,
obtaining renewals for existing licences and permits and obtaining
required licences and permits, labour stability, stability in market
conditions, availability of equipment, accuracy of any mineral
resources and mineral reserves, successful resolution of disputes and
anticipated costs and expenditures. Many assumptions are based on
factors and events that are not within the control of Pilot Gold and
there is no assurance they will prove to be correct. 
Such forward-looking information, including, but not limited to,
statements that address reserve potential, potential quantity and/or
grade of minerals, potential size of a mineralized zone, potential
expansion of mineralization, the timing and results of future
resource estimates, proposed timing of exploration and development
plans at the Company's mineral projects, and the estimation of
mineral reserves and resources involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievement of Pilot Gold to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking information.  
Such factors include, among others, risks related to the
interpretation of results at certain of our exploration properties,
reliance on technical information provided by our joint venture
partners or other third parties as related to any of our exploration
properties; changes in project parameters as plans continue to be
refined; successfully completing the earn-in on the TV Tower project,
including the ability to incur the minimum annual Expenditure
Requirements and future issuance of common shares as consideration to
complete the earn-in agreement; current economic conditions; future
prices of commodities; possible variations in grade or recovery
rates; current and proposed exploration and development; the costs
and timing of the development of new deposits; failure of equipment
or processes to operate as anticipated; the failure of contracted
parties to perform; uses of funds in general including future capital
expenditures, exploration expenditures and other expenses for
specific operations; the timing and success of exploration activities
generally; achievement of identified tangible project milestones at
TV Tower; delays in permitting; satisfaction of Turkish requirements
relating to the periodic submissions of Environmental Impact
Assessments; possible claims against the Company or its joint venture
partners; labour disputes and other risks of the mining industry;
delays in obtaining governmental approvals, financing or in the
completion of exploration as well as those factors discussed in the
(final) short form prospectus of the Company dated October 25, 2012,
in the section entitled "Risk Factors", under Pilot Gold's SEDAR
profile at www.sedar.com. 
Although Pilot Gold has attempted to identify important factors that
could cause actual actions, events or results to differ materially
from those described in forward-looking information, there may be
other factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
such information will prove to be accurate as actual results and
future events could differ materially from those anticipated in such
statements. Pilot Gold disclaims any intention or obligation to
update or revise any forward-looking information, whether as a result
of new information, future events or otherwise. Accordingly, readers
should not place undue reliance on forward-looking information.
Further details relating to Pilot Gold are also available in our
Annual Information Form, available under Pilot Gold's SEDAR profile
at www.sedar.com. 
Contacts:
Pilot Gold Inc. - Investors
Patrick Reid
VP, Corporate Affairs
604-632-4677 or Toll Free 1-877-632-4677
info@pilotgold.com 
Pilot Gold Inc. - Media
Ian Noble
Director, Corporate Communications
604-809-8750
inoble@oxygencapitalcorp.com
www.pilotgold.com
 
 
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