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PREMIER GOLD MINES LIMITED (TSX:PG) ("Premier", "the Company") is pleased to invite 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 27, 2018 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 highlights from McCoy-Cove and Rye-Goldbanks in
Nevada, and Hasaga in Red Lake
-- An update on permitting and development plans of the Greenstone
Gold Property, a 50-50 feasibility-stage joint venture project
with Centerra Gold in northern Ontario.
Premier has successfully built a strong treasury of $98.4 million at the end of Q1 as a result of solid operating results. Guidance for 2018 remains on track for 85,000 to 95,000 ounces of gold at all-in-sustaining costs of US$800 to US$850 per ounce. The Company is undertaking an aggressive exploration and development campaign in 2018 that includes two new mines in construction as Premier continues to grow future production.
"With the construction of new mining initiatives at South Arturo and continued progress towards development at Greenstone and Cove, we are setting the stage for sustained profitable production growth" stated Ewan Downie, President & CEO of Premier. "Substantial upside opportunities are being realized at several of our projects as we execute the largest annual exploration and development campaign in our Company's history."
Conference Call and Webcast Information
Details for the conference call and webcast can be found below and will be accessible on the Company's website.
Toll Free (North America): 1-888-231-8191International: 1-647-427-7450Conference ID: 2584517
Webcast Link
Webcast URL: https://event.on24.com/wcc/r/1784235/9182308100B85C4811423D8BB92A980F
Conference Call Replay
Toll Free Replay Call (North America): 1-855-859-2056 International Replay Call: 1-416-849-0833Passcode: 2584517
Both the webcast and conference call replay will be available 9:00am EDT on June 28, 2018 until 11:59 pm ESTon July 4, 2018.
2018 Guidance
Production estimates for 2018 have been derived from life of mine operating plans prepared on the basis of mineral reserves associated with each property. Assumptions underlying 2018 gold production estimates for South Arturo and Mercedes are presented in the tables below.
Gold Guidance 2018
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Mine Production Cash Cost per ounce AISC per ounce (i)
ounces (i)
--- ------ ---
South Arturo 5,000 - 10,000 $600 - $650 $620 - $670
------------ -------------- ----------- -----------
Mercedes 80,000 - 85,000 $700 - $750 $820 - $870
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Consolidated 85,000 - 95,000 $690 - $740 $800 - $850
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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.
Premier Gold Mines Limited 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 econo mic 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 Limited
View original content with multimedia: http://www.newswire.ca/en/releases/archive/June2018/25/c1705.html
SOURCE: Premier Gold Mines Limited
Ewan Downie, President & CEO, Phone: 807-346-1390, Fax: 807-346-1381, E-mail:
Info@premiergoldmines.com, Web Site: www.premiergoldmines.com
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