Premier Gold Mines (PG.TSX) announced that ongoing drilling at its 100% owned
Trans-Canada Project in Northwestern Ontario continues to expand high-grade gold
mineralization within targeted high-grade horizons including the Fortune and
High Grade North (HGN) Zones. Premier Gold Mines noted that the current drill
program is concentrated on three broad areas (eastern, middle and western)
delineating and expanding several high grade horizons in advance of completing
an updated (NI) 43-101 compliant resource calculation (expected to be completed
in Q1/Q2 2012) and a Preliminary Economic Assessment (expected to be completed
in mid-2012) that will consider a range of possible development options to
optimize the multiple deposits that comprise Trans-Canada Project including the
Hardrock, Brookbank, Key Lake and Kailey Deposits. Highlights: * 15.77 grams per
tonne (g/t) Au across 9.0 m in hole MM252 including 109.00 g/t Au across 1.0m as
well as 10.68 g/t across 16.0 m * 255.00 g/t Au across 1.0 m in hole MM236 *
74.20 g/t Au across 1.5 m in hole EP161 * 94.50 g/t Au across 1.3 m in hole
MM244 Brian Morris , Vice-President Exploration: Drilling has now extended
multiple high-grade horizons over plunge lengths that measure in kilometers.
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