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Premier Gold Mines Ltd
Symbol PG
Shares Issued 237,295,482
Close 2020-03-24 C$ 1.13
Recent Sedar Documents

Premier Gold suspends exploration at Hasaga

2020-03-25 06:56 ET - News Release

Mr. Ewan Downie reports

PREMIER REPORTS OPERATIONAL UPDATE

Premier Gold Mines Ltd. has provided an update on the company's response to the COVID-19 pandemic.

To date, activities at the company's two operating mines, Mercedes in Sonora, Mexico, and South Arturo in Nevada, have not been materially impacted by the COVID-19 pandemic. The company is working closely with staff and joint venture partners on initiatives designed to help protect employees, their families and local communities from the COVID-19 virus. The company introduced company-wide health and safety protocols and has implemented controls and safety procedures at each site. These measures include but are not limited to medical screening of all people accessing the sites, increased sanitation and hygiene practices, social distancing, and the requirement that individuals showing symptoms remain at home in self-isolation.

Premier has chosen to temporarily suspend exploration at Hasaga for a minimum two-week period. This decision to implement a spring break earlier than originally planned is not expected to have a material impact on planned exploration for 2020.

The company's Ontario and Nevada corporate offices are now temporarily closed, and employees are working remotely. All non-essential travel has been suspended indefinitely.

The company will continue to monitor developments on a daily basis and will act in accordance with requirements and guidelines issued by local and regional authorities or as deemed necessary to protect the health and safety of employees.

"Our top priority is the health and safety of our employees, their families and the local communities near which we work across North America while safeguarding the interests of our shareholders," stated Ewan Downie, president and chief executive officer of Premier. "We will also assess the ever-changing market environment as we responsibly prioritize the development of our property portfolio by strategically assessing the best economic scenario for each asset while being cognizant of capital requirements."

Based on prior disclosure, Premier's asset portfolio boasts a substantial gold endowment that includes nearly three million ounces in proven and probable reserves, more than six million ounces of gold in measured and indicated, and 3.8 million ounces in the inferred resource categories. In addition to producing mines, this portfolio also hosts multiple advanced-stage and permitted projects such as Greenstone gold and McCoy-Cove, and several exploration-stage assets. The company is well financed to meet all 2020 objectives and budgeted programs with a healthy treasury exceeding $60-million (U.S.).

Qualified person

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

About Premier Gold Mines Ltd.

Premier Gold is a gold producer and respected exploration and development company with a high-quality pipeline of 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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