Premier Gold Mines Limited announced the results of independent Preliminary Economic Assessment Studies on the company's 100%-owned Hardrock and Brookbank Deposits in Northwestern Ontario. The PEA Studies were prepared by Stantec Mining with contributions from BBA Inc., InnovExplo Inc. and Micon International Limited, and completed in accordance with National Instrument 43-101 ("NI 43-101"). The 2014 PEA Studies estimated average annual gold production during the first 8 years of 253,100 ounces with life of mine "LOM" (15 years) annual production of 202,700 ounces (including low-grade stockpiles).

Average grade over the first 8 years of 1.50 grams per tonne gold "g/t Au" with a LOM average grade of 1.18 g/t Au (including low-grade stockpiles). Initial processing of 10,000 tonnes per day "tpd", expanding to 18,000 tpd in Year 3. Pre-production capital costs of CAD 410.6 million including CAD 83 million for contingency. Pre-tax net present value "NPV" (at a 5% discount rate) of CAD 519 million at $1,250 gold.

Pre-tax internal rate of return "IRR" of 23.0% and a 3.5 year payback at $1,250 gold.