Tuesday, July 8, 2014

Premier Gold Mines Limited - PG.t

Premier Gold Mines Ltd. - PG.t holds a strategic property portfolio, with core projects that are potential "company-makers".

The Trans-Canada Project (100%PG) - prospective geological structures including the multi-million ounce Hardrock deposit.
Rahill-Bonanza Joint Venture (49%PG - 51%G) - the last piece of the prolific Red Lake "Mine Trend" not 100% owned by Goldcorp.
Cove Project (100%PG) - located within the Eureka-Battle Mountain Trend.

On July 8, 2014 the company released News

"PREMIER GOLD MINES LIMITED ("Premier" or "The Company") (TSX:PG) is very pleased to release an updated mineral resource estimate for the Company's 100%-owned Hardrock gold deposit, located in Northwestern Ontario some three (3) kilometres south of the Town of Geraldton. The undiluted and in-situ estimate was completed by InnovExplo Inc. utilizing a 3D block model and supported with input from the Company's geological personnel. Table 1 provides a deposit summary of the resource at Hardrock, categorized by potential open-pit (O/P) and underground (U/G) economic cut-off grades (COG). For the benefit of transparency, a comprehensive reconciliation of changes with respect to the previously released resource estimate (see press release dated October 29, 2013) is provided. In addition, an upside resource case as well as guidance on progress related to the ongoing Hardrock Feasibility Study is provided below.

A conference call and webcast is planned for investors and analysts at 8:00 a.m. (Eastern Time) Tuesday, July 8, 2014 to present the results. Details for the call can be found at the bottom of this press release.

Highlights of the 2014 Hardrock mineral resource estimate include:
•Overall Indicated resources of 4.87 million (M) ounces, an increase of 1.63M ounces or 50%.
•Overall Inferred resources of 2.74M ounces, a decrease of 1.04M ounces or 27%.
•O/P Indicated resources of 3.97M ounces, an increase of 1.62M ounces or 69% with coincident increases in resource grades.
•New estimate utilizes identical grade capping, COG's and gold price (in Canadian dollar terms) versus previous estimate as well as 86,500 metres of additional infill drilling for a total of 621,000 metres.