Premier Agrees to Acquire Key Red Lake Project

Shares Issued: 149,072,712 
THUNDER BAY, ON, Feb. 25, 2013 /CNW/ - Premier Gold Mines Limited (TSX-PG) is 
pleased to announce that it has acquired a 100% interest in the Broulan Reef 
Project located immediately adjacent to Goldcorp Inc.'s (TSX:G, NYSE:GG) Bruce 
Channel deposit and Premier/Goldcorp's Rahill-Bonanza Joint Venture. 
Premier has acquired the Broulan Reef Project from Cypress Development Corp. 
(TSX-V:CYP) and Skyharbour Resources Ltd. (TSX-V:SYH) (the "Vendors") in 
exchange for a payment to the Vendors $1.75 million in cash, the issuance of 
160,000 common shares of Premier and the retention of a 0.5% net smelter 
royalty (NSR). The property is also subject to an existing 2.0% NSR. Under 
the terms of the Rahill-Bonanza Joint Venture Agreement between Premier and 
Goldcorp, Goldcorp has the 30 day right to acquire a 51% interest in the 
Broulan Reef Project by funding 51% of acquisition costs. The closing of the 
acquisition is subject to standard conditions, including regulatory and stock 
exchange approval. 
Based on previous work completed by Cypress and Skyharbour, Premier management 
believes that this project has excellent potential to host economic gold 
mineralization. The property is located adjacent to the south and west of 
Goldcorp's Cochenour / Bruce Channel Deposit and adjacent to the west of the 
Rahill Bonanza Joint Venture. The property is situated on strike with the 
Bruce Channel Deposit and Finn Zone, and is ideally located to test for the 
potential extension of the new mine horizon currently being developed by 
Goldcorp. Furthermore, the potential intersection of the North-South 
striking Bruce Channel structure with the East-West striking structural 
corridor of the Wilmar deposit provides an important structural intersection 
target similar to that at the High Grade Zone at RLGM. Figure 1 demonstrates 
the favourable location of the Broulan Reef Project projected to tram depth. 
Figure 1 - Broulan Reef Project Location, and Potential Deposits, Projected to 
Tram Depth 
The final drill programs completed by Cypress and Skyharbour intersected 
alteration, mineralization, and veining similar to that at Bruce Channel and 
many of the main mines in Red Lake. This drilling intersected strongly 
anomalous gold grades, visible gold, altered ultramafic rock units, and 
increased faulting that will provide excellent targets for future exploration. 
These results can be found on SEDAR filed under Cypress Development Corp's 
December 1, 2011 News Release. 
The Rahill-Bonanza Project is a joint venture located in the heart of the main 
Red Lake "Mine Trend" and is being explored with partner and operator Red Lake 
Gold Mines Limited ("RLGM"), an affiliate of Goldcorp Inc. Tram development 
through the Joint Venture and underground drilling continues to intersect 
favourable alteration, mineralization and structure as construction heads 
west. The tram development is expected to provide an ideal platform from 
which to test the Broulan Reef claims in the future. 
"Over the past several years, our strong treasury has allowed Premier to 
capitalize on weak market conditions and acquire strategic property packages 
in several of North America's most prolific gold camps" stated Ewan Downie, 
President and Chief Executive Officer of Premier. "The Broulan Reef claims 
represent an important consolidation of key lands located along the 
stratigraphic horizon that is host to some of the world's major high-grade ore 
The orebodies hosted within the main Red Lake "Mine Trend", including the 
prolific HGZ, are often spatially associated with a regional unconformity that 
trends through the southern portion of the Project area for several 
kilometres. Broulan Reef is situated in an important fold-closure location 
at tram depth that represents a potentially important area of deformation and 
structural complexity similar to that at the infamous High-Grade Zone at the 
Red Lake Gold Mines. A significant goal for the joint venture has long been 
to establish an underground exploration platform from which systematic diamond 
drilling could be undertaken to test this prospective target horizon - this 
underground drill program is now underway. The tram drift that is currently 
being excavated by RLGM to support mine development of its Cochenour Project 
(Bruce Channel Deposit), will serve as an invaluable exploration platform for 
the Joint Venture. It is located approximately 1,650 metres (5,400 feet) below 
surface, at an elevation where exploration for HGZ-style mineralization has 
been most successful in the past. Because the HGZ footprint can be very 
compact, drilling from surface can be expensive and difficult to intersect 
projected target areas due to hole deviation. 
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 one of North America's leading exploration 
companies with a high-quality pipeline of gold projects focused in proven, 
safe and accessible mining jurisdictions in Canada and the United States. 
The Company's portfolio includes significant assets in world class gold mining 
districts such as Red Lake, Musselwhite and Geraldton in Ontario and the 
Carlin Trend in Nevada. 
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 the closing of the acquisition and strategic plans. 
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 Gold'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 Gold 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. 
Ewan Downie, President & CEO Phone: 807-346-1390 Fax: 807-346-1381 Web 
PDF available at: 
SOURCE: Premier Gold Mines Limited 
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CO: Premier Gold Mines Limited
ST: Ontario
-0- Feb/25/2013 12:09 GMT
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