Premier Gold Mines continues to report positive exploration results at Hardrock

GOLD MINING NEWS - On a day when shares of most gold mining companies traded lower due to gold sector weakness, Premier Gold Mines (PG.TSX) announced a positive development - the discovery of two new gold zones at the company’s Hardrock Project in Northwestern Ontario. Initial drilling at the new discoveries - designated the “ 83 ” and “ 93 ” Zones - included intersections of 9.78 grams per tonne (g/t) of gold across 5.0 meters in the 83 Zone and 12.3 g/t gold across 4.0 meters in the 93 Zone.

The discoveries are in an area that was not previously drilled. These new zones are within 200 meters of surface and located west and to the south of all previously mined zones at Hardrock, a joint venture with Goldstone Resources (GRC.TSX) in which Premier holds a 70% interest. Drilling to-date suggests a strike length of some 200 meters and the zones remain wide open at depth. Premier Gold also reported that another drill from the historically mined F-Zone returned intersections of 9.28 g/t gold across 28.4 meters including 43.50 g/t gold across 3.0 meters.

Tim Twomey, Exploration Manager for Premier Gold, commented “ Our recent initial resource estimate for the near surface mineralization suggests the potential for Hardrock to become a significant development project. These recent results, together with others not incorporated into the resource estimate, further demonstrate Hardrock’s potential. We are particularly pleased to encounter such strong results in new areas that were never drilled before, bolstering Premier’s view that Hardrock is a highly prospective but still vastly underexplored property. ”

The announcement comes only days after Premier released details of an updated NI 43-101 compliant Mineral Resource estimate. Highlights of the report included Indicated Resources of 11.6 million tonnes at an average grade of 1.82 g/t gold hosting 675,000 ounces of gold cut and 905,000 ounces uncut; and Inferred Resources of 7.3 million tonnes at an average grade of 1.81 g/t gold hosting 425,000 ounces gold cut and 830,000 ounces of gold uncut. The new discoveries and the F-Zone results were not included in the estimate.

Premier Gold Mines is a Canadian-based mineral exploration and development company with several projects and deposits in Northwestern Ontario, Canada and a joint venture in Mexico. Additionally, the company jointly owns two projects with Goldcorp (GG) - the worlds second largest gold mining company - near the Red Lake Gold zones, and is conducting a drill program at its PQ North Project that, like Hardrock, is located on the main Musselwhite gold mine trend. Shares of PG.TSX finished lower by C$0.03 to C$3.98 while the gold price declined $9.85 to $1,122.12.