Thunder Bay, April 1, 2019 – Premier Gold Mines Limited (“Premier” or “The Company”) (TSX:PG) is pleased to announce that the Company has divested several non-core properties.
A total of four transactions have resulted in eight properties and one subsidiary being sold and/or optioned for total consideration of US$2.1 million. The related properties include the Geisler Property, located in the Red Lake district of Ontario, the Faymar Property in Timmins, Ontario and the Santa Teresa Property, located in Baja, Mexico. The Company also entered into an option agreement for the sale of Goldstone Resources Limited, the subsidiary that holds the historic Northern Empire, Leitch and Sand River Mines, as well as other exploration-staged projects in the Beardmore, Ontario region.
As a result of these transactions, the Company has also gained access to approximately US$1.23 million in cash which was previously restricted for reclamation obligations associated with the Northern Empire Mill.
Premier Gold Mines Limited is a gold-producer with a respected exploration and development pipeline of high-quality precious metal projects in proven, accessible and safe mining jurisdictions in Canada, the United States, and Mexico. Premier remains focused on creating a low-cost, mid-tier gold producer through its two producing gold mines – South Arturo and Mercedes – as well as mine development opportunities at McCoy-Cove in Nevada and Hardrock in Ontario.
For further information, please contact:
Ewan Downie, President & CEO
Web Site: www.premiergoldmines.com