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Premier Gold Mines Ltd
Symbol PG
Shares Issued 210,450,482
Close 2019-09-26 C$ 1.97
Market Cap C$ 414,587,450
Recent Sedar Documents

Premier Gold begins processing ore at El Nino

2019-09-27 07:14 ET - News Release

Mr. Ewan Downie reports

ORE PROCESSING COMMENCES AT PREMIER'S EL NINO MINE

Processing of ore has commenced from the El Nino mine at Premier Gold Mines Ltd.'s 40-per-cent-owned South Arturo mine. South Arturo is located in the Carlin trend, Nevada, and is a joint venture between Premier and Nevada Gold Mines, a joint venture company owned by Barrick Gold Inc. and Newmont-Goldcorp with Barrick Gold Inc. as operator.

The El Nino mine was developed on time and on budget, with ore now being processed ahead of schedule. Gold production is expected to ramp up in the second half of 2019, with a first gold bar pour having been held on Sept. 26, 2019. Premier attributable gold production estimated to meet the high end of guidance for the year and the company expects that, owing to the high-grade ore at El Nino, South Arturo will have a positive effect on cash flow for the company.

"We are excited to once again realize the benefits of South Arturo, increasing the company's production profile with an anticipated reduction in overall operating costs," stated Ewan Downie, president and chief executive officer of Premier. "Premier continues to benefit from the stellar performance of our partner, Nevada Gold, and its demonstrated ability to consistently execute on schedule."

In the second half of 2019, surface and underground drilling will resume in an effort to continue delineating and expanding mineralization at El Nino. El Nino is a high-grade underground deposit situated down plunge of the phase 2 pit, where mining was concluded in 2017. Prestripping of the phase 1 open-pit project, a second mine being constructed at South Arturo, is continuing with a target of production in the second half of 2020. Work is also continuing to optimize heap leach material with a potential future decision to proceed with the development of a heap leach facility on the property.

Stephen McGibbon, PGeo, executive vice-president corporate and project development of Premier, is a qualified person within the meaning of National Instrument 43-101 and has reviewed and approved the technical information contained in this press release.

The statements contained herein reflect the views of Premier Gold Mines and may not reflect the views of Barrick or its affiliates.

Premier Gold Mines is a gold-producer with a respected exploration and development pipeline of high-quality precious metal projects in proven, accessible and safe mining jurisdictions in Canada, the United States and Mexico.

We seek Safe Harbor.

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