Premier Gold Mines Limited - QwikReport - Wed Sep 8, 2010

PREMIER GOLD MINES LIMITED : http://www.premiergoldmines.com/ : QwikReport

Hardrock

The Hardrock Project, located in the Beardmore -- Geraldton Greenstone Belt of Northwestern Ontario, is consistent with all the hallmarks of Premier's business model and is a core holding in its exploration portfolio. Premier owns a 70% interest in the project. Many past-producing sites in Canada are undergoing a renaissance and today are being recognized for their exceptional potential to host future world class discoveries. Recent discoveries in Red Lake (Red Lake Gold Mines, Bruce Channel) and at Malartic underscore the importance of exploration in such historic camps.

The Hardrock Project comprises approximately a 15-kilometre long property package that overlies more than 3.0 million ounces of past gold production in a district that has historic production in excess of 4.0 million ounces. The property lies only a few kilometers south of the Town of Geraldton, which is serviced by the Trans-Canada Highway, Trans-Canada Pipeline, and Hydroline. Exploration is conducted year round.

NI43-101 Compliant Mineral Resources

On March 4, 2010 the Company announced that it had received a National Instrument (NI) 43-101 compliant Mineral Resource estimate on the Hardrock Project for the near surface mineralization amenable to open pit mining.

Highlights of the Hardrock Area Mineral Resource estimate include:

Indicated Resources of 11.6 million tonnes at an average grade of 1.82 grams per tonne (g/t Au) (2.43 g/t Au uncut) hosting 675,000 ounces Au cut (905,000 ounces Au uncut)
Inferred Resources of 7.3 million tonnes at an average grade of 1.81 g/t Au (3.52 g/t Au uncut) hosting 425,000 ounces Au cut (830,000 ounces Au uncut)

The following table presents the tonnes and grades for the block model used for the Mineral Resource estimate at a range of cut-off grades in order to demonstrate the sensitivity of the estimates. The cut-off value of 1.0 g/t Au was derived from recent technical reports filed on SEDAR and in-house technical data from RCI for similar deposit types.

Indicated Resources

Cut-off Grade	Tonnes (Millions)	Grade gpt Au (cut)	Grams Au Cut (Millions)	Ounces Au Cut	Grade gpt Au (uncut)	Grams Au uncut (Millions)	Ounces Au Uncut

0.6 gpt Au	22.9	1.30	29.7	955,000	1.65	37.8	1,215,000
0.8 gpt Au	16.1	1.56	25.0	805,000	2.03	32.5	1,045,000
1.0 gpt Au	11.6	1.82	21.1	675,000	2.43	28.1	905,000
1.2 gpt Au	8.5	2.08	17.7	570,000	2.86	24.3	780,000
1.4 gpt Au	6.3	2.35	14.9	475,000	3.33	21.0	675,000

Inferred Resources

Cut-off Grade	Tonnes (M)	Grade gpt Au (cut)	Grams Au Cut (Millions)	Ounces Au Cut	Grade gpt Au (uncut)	Grams Au uncut (Millions)	Ounces Au Uncut

0.6 gpt Au	16.1	1.25	20.1	645,000	2.39	38.4	1,085,000
0.8 gpt Au	11.0	1.51	16.5	530,000	3.03	33.1	955,000
1.0 gpt Au	7.4	1.81	13.2	425,000	3.92	28.8	830,000
1.2 gpt Au	4.9	2.15	10.6	340,000	5.06	24.9	730,000
1.4 gpt Au	3.3	2.57	8.6	275,000	6.49	21.7	640,000

1. The above table includes an adjustment to account for excavation voids by subtracting 975,000 T @ 1.8 gpt (1.1M grams) from the Indicated material reported and by subtracting 625,000 T @ 1.8 gpt (1.7 M grams) from the Inferred material reported. All drilling used for the estimate was done subsequent to mining and there are no drillhole intervals used for the estimates that are from mined out areas.

2010 Exploration Plans

In 2010, Premier has planned an aggressive $10 to $12 million exploration program with the goal of tabling a second NI43-101 compliant mineral resource estimate amenable to underground mining after its completion. In order to achieve this, we have planned the following exploration program:

Some 50,000 metres of diamond drilling in delineation and exploration configurations.
Focus within 300 to 1200 metres from surface.
Target areas of existing mineralization & those with high potential for discovery based on our geological model.

Given the pace at which our 2010 program is being conducted, shareholders and potential shareholders can anticipate press releases updating results and progress on the Hardrock Project on a regular (bi-weekly to monthly) basis.

Assay Results

(as of June 17, 2009)

MAPS

Plan View	NN Zone
North Zone	EP North Limb
EP North Limb B	EP North Limb C
EP South Limb	EP South Limb B
EP South Limb C	Tenacity TN1
Tenacity TN2	HGV
SP Zone

Photos

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Historic Mine Photos

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This page was created on Wed Sep 8, 2010 at 9:21:06 AM Pacific Time.