The claims making up the Bonanza Project are approximately four km north of the Village of Red Lake, which in turn is approximately 450 km northwest of Thunder Bay, Ontario and 1,350 km northwest of Toronto, Ontario. Located on the main "Mine Trend" in Red Lake, the Rahill-Bonanza Project sits three km south of the past producing Cochenour mine, two and a half km west of the presently producing Red Lake Gold Mines and immediately east of the Bruce Channel discovery, purchased by Goldcorp for $1.2 Billion in 2008.



The Property consists of 6 staked claims, 34 patented/surveyed claims, and 4 mining leases covering 738.1 hectares



49% Premier Gold Mines Limited
51% Goldcorp Inc.
with Goldcorp Inc. as operator of the property under a Joint Venture agreement



Premier's marquis property in Red Lake is a 49% interest in the Rahill-Bonanza Project, a joint venture with Red Lake Gold Mines (RLGM), an affiliate of Goldcorp Inc. Key aspects of the property include:

• It occurs along the least explored portion of the prolific Mine Trend
• It resides immediately west of Goldcorp's world class RLGM mining complex and east of Goldcorp's newest high grade deposit, the Bruce Channel Deposit.
• It holds the Bonanza Deposit (recently discovered) and two historic gold deposits, Wilmar and West Granodiorite, each of which could host much sought after "high grade gold" at depth.

Goldcorp has begun construction of a high-speed tram to connect the Red Lake Gold Mines complex and the Cochenour (Bruce Channel) Mine complex to develop its Cochenour/Bruce Channel deposit. A portion of this tram is expected pass through and come in close proximity to, the joint venture project providing an excellent exploration platform. This tram will intersect several kilometres of some of the highest potential and untested geology along the main Red Lake "Mine Trend". The Red Lake Gold Mine is considered to be one of the world's richest gold mines with production of more than 18 million ounces of gold and nearly 10 million ounces of resources. Preparatory work for this haulage drift project has commenced.

Premier believes the Rahill-Bonanza Project simply represents the "best positioned gold property anywhere", making Premier a compelling investment opportunity and significantly undervalued compared to other junior explorers in the district.



Structurally, the property appears to be underlain by an anticlinal structure centered on the Balmer volcanic rocks and flanked to the north and south by synchronous synclinal structures cored by Bruce Channel sedimentary and volcanic rocks. Faults or penetrative strain zones appear to be concordant with bedding directions, which trend approximately 60 degrees in the west, to 90 degrees in the eastern part of the Bonanza Project. This curvilinear trend is an S2 foliation developed as a result of D2 deformation and is commonly referred to as the "Mine Trend". This period of deformation is synchronous with the deposition of gold mineralization.



Mineralization is associated with strongly to intensely silicified sediments, dominantly reywacke, conglomerate and iron formation. Visible gold is present but not common. Sulfide content in mineralization ranges from 0.5% in silicified greywacke to locally 20%t in some iron formation. Visible sulfides are dominantly pyrite and pyrrhotite, with minor amounts of chalcopyrite, sphalerite and arsenopyrite.



Maps & Sections