Premier expands high-grade open pit potential at Hardrock including 1.54
oz/ton gold over 25.9 feet

Shares Issued: 82,657,779

THUNDER BAY, ON, Nov. 11 /CNW/ - PREMIER GOLD MINES LIMITED (TSX:PG) is pleased to announce drill results from the NN Zone, comprising the final results from drilling that will be used for an upcoming NI43-101 resource calculation relating to open pit style deposits on the Hardrock Project in Northwestern Ontario. Drilling has delineated multiple zones potentially amenable to open pit mining, including recently identified high-grade gold mineralization within the NN Zones. Highlights from recent drilling include the following results:

    
    -   5.26 grams per tonne gold (g/t Au; 0.15 ounces per ton) across
        11.7 metres (m; 38.4 feet) in hole MM053

    -   3.50 g/t Au (0.10 ounces per ton) across 36.5m (119.7 feet) in hole
        MM056

    -   52.90 g/t Au (1.54 ounces/ton) across 7.9m (25.9 feet) in hole MM062

    -   35.45 g/t Au (1.04 ounces/ton) across 3.6m (11.8 feet) in hole MM066
    

Recent near-surface holes drilled in the NN Zone, located west along strike from the EP Zone, suggest the potential for defining open-pit resources with multiple horizons having intersection widths of up to 36.5 metres (119.7 feet). New drill results from the NN Zone are contained in Table 1 and locations of drill holes can be found in Figure 1.

Premier intends to release the results of the initial resource estimate prior to the end of 2009. Initial drilling results during the latter stages of 2009 support Premier's belief that additional mineral resources, amenable to underground mining methods, may be delineated at depth. It is Premier's intention to aggressively pursue this style of drill target during 2010, with the goal of amending the initial mineral resource sometime after the end of the second quarter.

At Hardrock, significant potential exists for developing resources in several areas including:

    
    -   Open pit-style mineralization at sites where historic resources were
        partially delineated by previous operators, in addition to newly
        defined mineralization at the Tenacity, EP and Kailey Zones;

    -   Numerous surface and historic high-grade gold intercepts throughout
        the large property package that have received little to no follow-up;

    -   Historic resource blocks reported to remain within the mine workings,
        including high-grade vein targets; and,

    -   The main mined zones which remain open below the 600m Level.
    

"Since January, the focus at Hardrock has been defining open pit style mineralization, an endeavour that has exceeded our initial expectations" stated Ewan Downie, President. "With our initial mineral resource estimate now imminent, we have shifted our focus toward outlining higher grade underground style resources. This effort has already resulted in one new high grade discovery".

Table 1 New Sub Zone Intercepts from NN Zone drilling at Hardrock

    
    -------------------------------------------------------------------------
              UTM       Dip/               Inter- Grade Inter- Grade
          Coordinates Azimuth  From    To    val   (g/    val  (oz/   Zone
    Hole-ID   (m)    (degrees)  (m)    (m)   (m)  tonne) (ft)   ton)
    -------------------------------------------------------------------------
    MM052  5502941N            52.5   54.0   1.5   3.37   4.9  0.10 upper NN
            504351E           -----------------------------------------------
                     -45/360  104.0  117.0  13.0   1.02  42.6  0.03    NN
                              -----------------------------------------------
                              162.1  163.6   1.5   2.16   4.9  0.06 lower NN
    -------------------------------------------------------------------------
    MM053  5502990N            30.0   33.0   3.0   1.53   9.8  0.04 upper NN
            504351E  -45/360  -----------------------------------------------
                               57.0   68.7  11.7   5.26  38.4  0.15    NN
    -------------------------------------------------------------------------
    MM054  5502964N  -45/360   61.0   62.5   1.5   2.25   4.9  0.07 upper NN
            504217E
    -------------------------------------------------------------------------
    MM055  5502943N            15.0   31.5  16.5   2.24  54.1  0.07 upper NN
            504302E           -----------------------------------------------
                     -45/360  157.5  160.5   3.0   3.98   9.8  0.12    NN
                              -----------------------------------------------
                              169.5  171.0   1.5   1.90   4.9  0.06 lower NN
    -------------------------------------------------------------------------
    MM056  5502925N            42.0   78.5  36.5   3.50 119.7  0.10 upper NN
            504217E           -----------------------------------------------
                     -50/360  158.9  168.3   9.4   5.16  30.8  0.15    NN
                              -----------------------------------------------
                              175.7  181.0   5.3   7.44  17.4  0.22 lower NN
    -------------------------------------------------------------------------
    MM057  5502995N  -45/360                        NSV                NN
            504298E
    -------------------------------------------------------------------------
    MM058  5502972N            34.8   46.5  11.7   1.00  38.4  0.03 upper NN
            504143E           -----------------------------------------------
                     -45/360  134.6  137.1   2.5   3.27   8.2  0.10    NN
                              -----------------------------------------------
                              166.1  167.3   1.2   5.57   3.9  0.16 lower NN
    -------------------------------------------------------------------------
    MM059  5502905N            63.0   69.2   6.2   1.00  20.3  0.03 upper NN
            504350E           -----------------------------------------------
                              126.5  128.0   1.5  71.20   4.9  2.08     x
                     -45/360  -----------------------------------------------
                              185.5  188.9   3.4   5.69  11.2  0.17    NN
                              -----------------------------------------------
                              217.0  222.0   5.0   2.48  16.4  0.07 lower NN
    -------------------------------------------------------------------------
    MM060  5502930N  -45/360  144.0  176.1  32.1   1.25 105.3  0.04    NN
            504250E
    -------------------------------------------------------------------------
    MM061  5502981N            33.0   37.5   4.5   1.05  14.8  0.03 upper NN
            504116E           -----------------------------------------------
                     -45/360   96.0   99.0   3.0   1.20   9.8  0.04    NN
                              -----------------------------------------------
                              149.9  151.3   1.4   2.46   4.6  0.07 lower NN
    -------------------------------------------------------------------------
    MM062  5502885N           110.2  111.4   1.2   1.08   3.9  0.03 upper NN
            504217E           -----------------------------------------------
                     -47/360  220.2  228.1   7.9  52.90  25.9  1.54    NN
                              -----------------------------------------------
                              245.5  247.5   2.0   3.52   6.6  0.10 lower NN
    -------------------------------------------------------------------------
    MM063  5502915N           109.0  114.5   5.5   3.49  18.0  0.10 upper NN
            504290E           -----------------------------------------------
                     -45/360  158.5  160.0   1.5  18.80   4.9  0.55    NN
                              -----------------------------------------------
                              191.4  193.0   1.6   1.10   5.2  0.03 lower NN
    -------------------------------------------------------------------------
    MM064  5502980N  -45/360   41.0   42.0   1.0   5.60   3.3  0.16    NN
            504251E
    -------------------------------------------------------------------------
    MM065  5503005N  -45/360   46.4   47.8   1.4   2.09   4.6  0.06    NN
            504185E
    -------------------------------------------------------------------------
    MM066  5503005N  -45/360    4.2    6.5   2.3  13.03   7.5  0.38 upper NN
            504250E           -----------------------------------------------
                               65.5   69.1   3.6  35.45  11.8  1.04    NN
    -------------------------------------------------------------------------
    MM067  5502910N           107.0  108.5   1.5  15.30   4.9  0.45     x
            504150E           -----------------------------------------------
                              121.1  123.5   2.4   4.05   7.9  0.12 upper NN
                     -50/360  -----------------------------------------------
                              152.5  160.0   7.5   3.04  24.6  0.09    NN
                              -----------------------------------------------
                              180.5  182.0   1.5   2.28   4.9  0.07 lower NN
    -------------------------------------------------------------------------
    MM068  5503015N  -45/360   11.5   14.5   3.0   3.91   9.8  0.11    NN
            504350E
    -------------------------------------------------------------------------
    MM069  5503030N  -45/360                 NSV
            504250E
    -------------------------------------------------------------------------
    True widths estimated at approximately 70% of intersection widths

    NSV - No Significant Values

    To view Figure 1, please visit: http://files.newswire.ca/598/Figure1.pdf
    

The Hardrock Project is operated under a joint venture with Roxmark Mines Limited (TSX-V:RMK) (Premier holds a 70% interest). The Hardrock Project is host to several past-producing mines which collectively produced nearly 3.0 Million ounces of gold primarily from relatively shallow depths (600 metres) from 1938-1968. A recent hole to test the North Zone horizon below the bottom mine level at Hardrock has intersected several mineralized zones further demonstrating the potential for the project to host a multi-million ounce resource. This hole is the first deep hole completed by the joint venture. The Hardrock Project benefits from development advantages with the Trans-Canada Highway, Trans-Canada Pipeline, and major power lines running through the center of the property.

Stephen McGibbon, P. Geo., 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. Assay results are from core samples sent to Activation Laboratories, an accredited mineral analysis laboratory in Ancaster, Ontario, for preparation and analysis utilizing both fire assay and screen metallic methods.

Premier Gold Mines Limited is a well-financed Canadian-based mineral exploration and development company with several active projects and deposits in Northwestern Ontario. In the Red Lake gold mining camp, two projects are operated in joint venture with Red Lake Gold Mines, and another, adjacent to the Red Lake Gold Mines complex, is operated on a 100% basis. The company also owns a 100% interest in the PQ-North Project, located along strike from Goldcorp's Musselwhite Gold Mine.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

%SEDAR: 00024152E

SOURCE Premier Gold Mines Limited

For further information: For further information: Ewan Downie, President & CEO, Phone: (807) 346-1390, Fax: (807) 346-0100, e-mail: Info@premiergoldmines.com, Web Site: www.premiergoldmines.com


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890