Premier Gold Continues to Expand High-Grade Mineralization at Hasaga

Recent highlights Include 17.0 m of 4.93 g/t Au 3.5 m of 76.12 g/t Au and 7.6 m of 26.82 g/t Au

THUNDER BAY, ON, Nov. 17, 2020 /CNW/ - Premier Gold Mines Ltd. ("Premier", "the Company") (TSX: PG) (OTCPK: PIRGF) is pleased to report additional positive exploration results that expand the footprint of the Epp-C and Epp-D zones at its 100%-owned Hasaga Project in Red Lake, Ontario. The Hasaga Project hosts high-grade mineralization with true widths up to 30 m that may represent the next generation of mineral resources in Red Lake with attractive attributes for potential mine development. Recent highlights from the 2020 exploration campaign include further expansion of the Epp-C to the east and confirmation that the Epp-D zone is important target for future drilling (Figure 1):

• Up-dip extension of the Epp-C zone with new intercepts grading 17.0 m of 4.93 g/t Au (HMP192W1) and 3.5 m of 76.12 g/t Au (HMP167W1)
• Infill drilling confirming high-grade core of the Epp-C Zone with 7.6 m of 26.82 g/t Au (HMP201)
• Continuity of high-grade structures of Epp-D Zone for at least 240 m with new intercepts including 11.0 m of 4.94 g/t Au (HMP198)

The Hasaga Property is located contiguous with Pure Gold Mining's Madsen Project (1 million ounces of high-grade probable reserves earmarked for Q4 2020 production) and is host to the past producing Hasaga, Buffalo and Goldshore mines. The focus of the 2020 program is to evaluate the underground potential at Hasaga that shares similarities to other Canadian gold mines such as West Timmins (Pan American Silver) and Young-Davidson (Alamos). Drilling for the season is now complete with 23,795 m drilled in 28 holes. Assays are pending for the final holes drilled from the program. Abbreviations used in this press release are available by following this link (click here).

"This drilling campaign intersected gold mineralization in every hole and was often accompanied by visible gold", commented Stephen McGibbon, Premier's Executive Vice-President. "In addition to significantly expanding the Epp-C and D zones, we have successfully demonstrated widespread mineralization further to the west toward Buffalo that warrants continued exploration. We feel strongly that our planned mineral resource update will support our excitement for the potential future development of this project."

Epp-C Expansion Results

Previous drilling completed by Premier in 2017 discovered high-grade mineralization down-plunge of the past–producing Howey and Hasaga Mines with multiple high-grade intercepts up to 54.0 m of 10.94 g/t Au (HMP151). The 2020 program tested the potential extension of the Epp-C toward the historically-mined B zone at from the Hasaga Mine and hole HMP192, located 200 m east of HMP151, intersected 13.0 m of 12.05 g/t Au contained within 38.8 m of 4.93 g/t Au. Several wedged holes were subsequently designed to improve delineation with initial results including 17.0 m of 4.93 g/t Au in HMP192-W1, drilled 50 m above the mother hole intercept. HMP167-W1 intersected 3.5 m of 76.12 g/t Au, 50 m above its the original intercept. Hole HMP201 was drilled to infill a gap 220 m below HMP192 and returned 7.6 m of 26.82 g/t Au in Epp-C and 3.6 m of 5.65 g/t Au in the Epp-C2, a parallel structure in the footwall. The Epp-C intercepts were further supported by several flakes of visible gold. The Epp-C zone remains open at depth.

Epp-D Results

The Epp-D zone consists of a broad lower-grade zone with sub-vertical structures of higher-grade mineralization. Previous drilling included 500 m step-outs along strike from the Epp-C Zone and intersected 181.0 m of 1.21 g/t Au in HMP161 supported by narrower higher-grade intervals. As reported in early September, the continuity of the mineralization was tested 100 m to the east and successfully expanded the Epp-D Zone footprint with results that included 13.8 m of 6.04 g/t Au contained within 45.5 m of 2.11 g/t Au in HMP186-W1. A new drillhole tested the extension to the west on a section located 220 m from HMP186-W1 and successfully intersected the high-grade structures, including 11.0 m of 4.94 g/t Au and 2.1 m of 7.18 g/t Au. These intercepts also contained localized flecks of visible gold. The exploration campaign demonstrated the continuity of the Epp-D zone at depth and the area remains open for expansion in all directions.

Table 1 – New intercepts from Epp-C and Epp-D Zones

Table 2 – Collar Coordinates

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.

Julie-Anaïs Debreil, P.Geo, Ph.D, 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 Labs, an accredited mineral analysis laboratory in Thunder Bay, Ontario, for preparation and analysis utilizing both fire assay and metallic screen methods. For a complete description of Premier's sample preparation, analytical methods and QA/QC procedures refer to the technical report for the Hasaga Project dated February 24, 2017 (effective date December 30, 2016), entitled "National Instrument 43-101 Technical Report: Hasaga Project, Red Lake Mining District, Ontario, Canada" located on Premier's website and at www.sedar.com.

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 strategic plans, including future operations, future work programs, capital expenditures, discovery and production of minerals, price of gold and currency exchange rates, mineral resource and mineral reserve estimates 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.