Patriot Gold Corp. provided an update on the development of its 100% owned Moss Gold-Silver property near Bullhead City, Arizona. Highlights: following nearly eight years of exploratory drilling and analysis by the Moss Gold-Silver project teams, the company announced that project development programs have been launched to potentially advance toward commercial development of the site during 2014; an updated independent NI 43-101 report completed in late 2012 indicated mineral resource estimate of 956,800 AuEq ounces (measured and indicated gold equivalent ounces) and 266,340 AuEq ounces (inferred); continued mine exploration and Phase I pilot operations are already underway with construction slated to begin by the end of March 2013 and preliminary operations estimated to begin during the June quarter of 2013; at the same time, pending the results of a feasibility study, the company expects Phases II and III of the three-phased mine development plan to begin during the June quarter of 2013 with commercial development targeted to begin by the June quarter of 2014.

The 'parallel tracking' concept, whereby stages of development occur in parallel without waiting for the completion of one stage prior to the start of another, will be utilized to shorten the overall development time. The Moss project is to be developed in two parallel paths, Phase I and Phase II. Phase I will focus on continued exploration and mine planning including an on-site pilot plant that will provide technical information for the implementation of Phase II commercial development.

Below are additional details for the following programs currently underway: a three-phase mine development plan, designed to move the project forward from conceptual design and laboratory test work to on-site pilot plant testing (Phase I) and then commercial operations (Phase II) is moving forward. As previously announced, this phased development approach with commercial production commencing at 5,000 tonnes per day (tpd) in an open pit, heap leach operation in Phase II, allows for a low initial capital expenditures and shorter lead times in reaching these production levels. The natural attributes of the Moss deposit can be capitalized upon, hereby reducing development risk and capital risk.

As a feasibility study has yet to be completed, there is no certainty the proposed operation will be economically viable. Two exploration programs are scheduled to run concurrently with the Phased Mine Development Plan: the Mine Exploration Program and the Property Exploration Program. As part of the Mine Exploration Program, extensive resource definition drilling is planned to continue in the area surrounding the Phase I and Phase II open pit, where the gold stock-work vein system outcrops at surface.

Several targets adjacent to the initial open pit will also be explored as part of this program. Drill results, expected over the next few months and throughout the next two years, will be utilized to further define the known mineralization, to streamline the mine design for Phase II, and to expand the resource adjacent to the mine area. The current NI 43-101 mineral resource estimate is 956,800 AuEq ounces (measured and indicated) and 266,340 AuEq ounces (inferred).