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AUDE

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NEWS RELEASE

posted on Sep 07, 11 10:02AM (Log in to use the IP Check tool) ^[?]

Wed Sep 7, 2011
Premier Gold Intersects High-Grade Carlin Gold - Saddle Update

PREMIER GOLD MINES LIMITED (TSX:PG) ("Premier") is pleased to provide an update of ongoing drilling at the Company's 100%-owned Saddle Project, located within the Rain sub-district of Nevada's prolific Carlin Trend. This drilling has intersected high-grade gold mineralization over substantial core intervals that will be used, in addition to historic drilling, to complete a NI43-101 compliant gold resource estimate following the completion of the program. Drilling is also scheduled to begin at the "Blue Sage" prospect in the near future.

Significant results from the initial drilling include 0.25 ounce per ton gold (oz/t Au) across 40.0 feet (8.46 grams per tonne Au across 12.2 metres) including 0.31 oz/t Au across 22.9 feet (10.70 g/t Au across 6.98m) in SA003, 0.41 oz/ton across 13.0 feet (14.12 g/t Au across 4.0m) in SA008 and 0.29 oz/ton across 21.3 feet (10.10 g/t Au across 6.5m) is SA013A. Highlight results from re-assaying selected core from previous drilling (Newmont) at Saddle include 0.94 oz/t Au across 19.0 feet (32.02 g/t Au across 5.8m) in RCR-40 and 0.41 oz/t Au across 38.0 feet (13.87 g/t Au across 11.6m) in RCR-43. Ongoing drilling continues to intersect significant intervals of mineralized breccia (assays pending) and confirm Premier's belief that the Saddle Deposit represents one of the most prospective undeveloped high-grade gold deposits in North America. -----.

In addition to producing strong results in the core deposit area, several holes have intersected multiple collapse-breccia units at depth, including SA002, that returned numerous gold-bearing zones, suggesting the potential to define potentially higher grade feeder structures at depth. These types of structures contain some of the highest grade gold deposits in the Carlin Trend including the famous Meikle and Deep Star mines. ------.

"Our US division remains the most undervalued portion of Premier's portfolio, yet contains one of the highest grade undeveloped gold deposits in the Carlin Trend." stated Ewan Downie, President and CEO of Premier. "To successfully accelerate growth not only in the US, but also in Canada, we intend to grow our management team. Securing Paul Huet as Chief Operating Officer is expected to assist us in growing our US-based asset platform, and will enhance our ability to advance our strong project portfolio towards development." ---.