Orefinders Updates on its Investment in Pure Gold's Red Lake Madsen Gold Project's New Discovery

TORONTO, April 3, 2017 /CNW/ - Orefinders Resources Inc. ("Orefinders" or the "Company") (TSX.V: ORX) is pleased to advise that, as a significant shareholder in Pure Gold Mining Inc. ("Pure Gold"), we are keeping our shareholders aware of the developments on their Madsen Gold Project in Red Lake, Ontario.  On March 27, 2017, Pure Gold announced that it has made a new discovery at the Russet South zone of its Madsen Gold Project.  The continued delineation of near surface and high-grade gold mineralization at depth which are near to their permitted mine infrastructure, continues to give the Madsen the critical mass towards execution of its development strategy.

"Orefinders believes that the Madsen Gold Project is one of the premier exploration and development opportunities in Canada's Red Lake camp and Pure Gold's management had done an excellent job in progressing the Project.  The Madsen Gold Project has potential to return to production in the near term and, additionally, management continues to make new discoveries on their land package as detailed in their March 27, 2017 news release. Orefinders is happy to have significant equity exposure to Pure Gold and expects its value to grow substantially", said Stephen Stewart, Orefinders' CEO.   

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Orefinders' assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Orefinders. Additional information identifying risks and uncertainties is contained in filings by Orefinders with Canadian securities regulators, which filings are available under Orefinders' profile at www.sedar.com.

For the latest updates please contact or follow us on Twitter @OrefindersR

SOURCE Orefinders Resources Inc.

For further information: To Speak to the Company directly, please contact: Stephen Stewart, Chief Executive Officer, Phone: 416.644.1567, Email: sstewart@orefinders.ca, www.orefinders.ca

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