Premier Gold Advances Projects Across North America

Premier Gold Mines (PG.TSX) provided an update from ongoing exploration activities at several of its project sites and corporate operational changes. The Canadian-based precious metals company noted that drilling programs are presently underway at the Rahill-Bonanza Project in Red Lake, the Hardrock Project in Northwestern Ontario, and at the Cove Gold Project in Nevada. Premier Gold Mines noted that numerous developments on all projects continue to demonstrate the potential for future resource growth.

Highlights:

* At Cove, initial drilling has expanded the Helen Gold deposit along strike with intercepts including 7.09 grams per tonne gold (g/t Au) across 24.38 metres (m) (0.21 ounces per ton (oz/t) across 80 feet) and 14.42 g/t Au across 12.19 m (0.42 oz/t across 40 feet)

* At the Rahill-Bonanza Joint Venture in Red Lake, exploration is testing a newly identified structure on the property and started flat holes from the tram designed to build a camp-wide geological model and to test the regional unconformity

* The Red Lake to Cochenour haulage drift has recently excavated through a gold-bearing rock unit, known to be associated with high-grade mineralization at the Red Lake Gold Mines complex including the High Grade Zone

* At the Trans-Canada Project, final modeling of the deposits is underway such that a revised resource estimate can be completed in the near future; ongoing drilling at the Fortune Zone horizon continues to expand high grade mineralization with numerous recent intercepts including 431.43 g/t Au across 2.0 metres (12.6 oz/t across 6.6 feet)

Ewan Downie, President and CEO of Premier Gold Mines:

“2012 is the largest year, in terms of exploration dollars in Company history with three active exploration projects that continue to deliver significant exploration success.  Management and operational changes continue to evolve as we quickly grow from exploration to anticipated development in the years to come.”

Ovais Habib, Scotia Capital:

Reiterates Sector Outperform rating and C$10.00 price target on Premier Gold Mines (PG.TSX)