Premier AGM and investor update June 22, 2017

Shares Issued: 201,530,687

THUNDER BAY, ON, June 20, 2017 /CNW/ - Premier Gold Mines Ltd. (TSX:PG) ("Premier", "the Company") is pleased to invite its shareholders and investors to meet its senior management and board of directors at its Annual and General Meeting to be held at 4:00pm EST on June 22, 2017 at the Board of Trade, 1 First Canadian Place, Toronto, Ontario.  The AGM will be followed by a corporate presentation at 4:30pm EST (with webcast from the company's website www.premiergoldmines.com) and a reception. 

The presentation will include highlights of the Company's expected production, development and exploration initiatives including:

• Its wholly-owned Mercedes Mine in Mexico, and its 40% joint venture with Barrick at the South Arturo Mine in Nevada.
  
  
• Exploration programs at McCoy-Cove and Goldbanks in Nevada.
  
  
• An update on development plans of the Greenstone Gold Property, a 50-50 joint venture feasibility-stage project with Centerra Gold in northern Ontario.

Premier has successfully built a strong treasury of $147.3 million at the end of Q1 as a result of solid operating results since the commencement of production in August of 2016.  Guidance for 2017 remains on track for 125,000 to 135,000 ounces of gold at all-in-sustaining costs of US$660 - US$690 per ounce.  The Company has planned for an aggressive exploration and development campaign in 2017 in order for Premier to continue its upward trajectory of organic growth.

"Having undergone a successful transition from explorer to producer, we are now focused on increasing our cash balance and developing and optimizing our portfolio of well-located advanced projects" stated Ewan Downie, President & CEO of Premier.  "Given the potential upside of several of our projects, we plan to execute the largest annual exploration and development campaign in our Company's history."

In Nevada, the McCoy-Cove Project will be advanced towards the release of a Preliminary Economic Assessment in H2-2017.  Hydrological and metallurgical test work is underway along with a substantial drill program.  Other drill programs are underway at the Goldbanks joint venture with Kinross in Nevada, the wholly owned Hasaga Project in Red Lake, and the Alto-Christina Project in Mexico.  At the Greenstone Gold Property joint venture with Centerra, preparation of EA and EIS documents are in the finals stages with submissions expected in Q3 2017.

Webcast Information

For those that cannot attend in person the presentation can be viewed at 4:30pm EST via webcast from the company's website www.premiergoldmines.com or via the link below.

Webcast URL: https://event.on24.com/wcc/r/1440253/EC4B6EF6B98E5DCA9D1E2C8BF45496F3

The webcast replay will be available 9:00am EDT on June 23, 2017 until 11:59 pm EST on June 21, 2018 from the above link.

2017 Guidance

Production estimates for 2017 have been derived from life of mine operating plans prepared on the basis of mineral reserves associated with each property. Assumptions underlying 2017 gold production estimates for South Arturo and Mercedes are presented in the tables below.

Premier Gold Mines Ltd. 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.

Non-IFRS Measures

The Corporation has included certain terms or performance measures commonly used in the mining industry that are not defined under International Financial Reporting Standards ("IFRS") in this document. These include: cash cost per ounce sold, all in sustaining cost ("AISC") per ounce sold and average realized price per ounce. Non-IFRS measures do not have any standardized meaning prescribed under IFRS, and therefore, they may not be comparable to similar measures employed by other companies. The data presented is intended to provide additional information and should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS and should be read in conjunction with the Corporation's consolidated financial statements.  Readers should refer to the Corporation's Management Discussion and Analysis under the heading "Non-IFRS Measures" for a more detailed discussion of how such measures and are calculated.

Cautionary Note

This Press Release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about production and exploration potential and the Mercedes mine, South Arturo, McCoy-Cove and Hasaga, strategic plans, including future operations, future work programs, capital expenditures, discovery and production of minerals, price of gold and currency exchange rates, timing of geological reports, preliminary economic assessment and corporate and technical objectives. Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the risks inherent to the mining industry, adverse economic and market developments and the risks identified in Premier's annual information form under the heading "Risk Factors". There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information.  Accordingly, readers should not place undue reliance on forward-looking information.  All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof.  Premier disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Premier Gold Mines Ltd.