Trans-Canada Project

News Release April 9, 2012

“--------- Premier cannot begin the dewatering and ramp excavation activities until two additional approvals from the Ontario Ministry of Environment (MOE) are received.

Currently, these permit applications are under review by the MOE: the permit to take water, and the industrial sewage certificate of approval.

Premier anticipates that all remaining permit approvals will be received prior to the end of the second quarter.

-------- The Hardrock deposit is host to a National Instrument 43-101-compliant mineral resource estimate that was completed by Micon International Ltd. earlier in 2011.

An updated resource estimate is being completed using the final results of the 2011 drill program, and is expected to be released late in the near future. ------”