Red Lake is quite simply the high grade gold capital of the world and the #1 address in Canada for high grade gold discoveries. Since 1995, there have been five significant gold discoveries in the Red Lake area, four of which are high grade. Within Red Lake, more than 30 million ounces of gold have been discovered along the prestigious "Mine Trend."

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. Some 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 contains one recently discovered gold deposit and two historic deposits, each of which could host much sought after "high grade gold" at depth.

Goldcorp has announced a trade-off study where construction of a high-speed tram to connect the Red Lake Gold Mines complex and the Cochenour (Bruce Channel) Mine complex is the favoured method to develop its new deposit. A portion of this tram may pass through, or 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. Work on this haulage drift project has already 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.

Premier also has three other properties in Red Lake, East Bay, Lennie, and Newman-Madsen.

Premier's 100%-owned Lennie Property is an early-stage exploration project located on the northeast property boundary of RLGM within a geological environment that mirrors the world class mine itself.

The East Bay Project is a 35% Premier and 65% RLGM joint venture located northeast of Rubicon's recently discovered "F2 Zone" at East Bay.

Newman-Madsen is a 50% Premier and 50% Sabina Silver Corporation joint venture located southwest of the Red Lake Gold Mines. Numerous gold deposits and mines are located proximal to this property, including the nearby past producing Madsen Gold Mine that produced approximately 2.8 Million ounces of gold - the third largest mine in the Red Lake camp.

Premier intends to spend between $3 million and $5 million on Red Lake area projects in 2010 and anticipates press releases quarterly or as results warrant, beginning in Q1.

Rahill-Bonanza

Lennie

East Bay

Newman-Madsen