On June 15, 2010 Premier closed the acquisition of Saddle Gold Inc. Saddle Gold owned, among other things, the mineral rights in respect of a majority portion of the Saddle Gold Deposit and a 1.5% production royalty on the Emigrant Springs Deposit, both located in Elko County, Nevada on the prolific Carlin Trend.

The Carlin Trend in northeastern Nevada forms one of the largest and most productive accumulation of gold deposits in North America and boasts +110 M ounces of production, reserves, resources and mineral inventory.

The Saddle Property is host to the extension of the Rain Mine ("Rain") orebody that was previously mined by Newmont Mining Corporation ("Newmont") by open pit and underground methods. Up to 80% of the Saddle Deposit is located on the property in which Saddle Gold has a 100% mineral interest. The Saddle Deposit is host to a historic (Source: Rain Sub-district Abstract dated 2002 by Longo, Thompson, Harlan) mineral resource estimate of some 3.99 million tons (3.62 million tonnes) at a grade of 0.37 oz/ton (12.69 g/t) gold for 1,455,000 ounces of gold. (Readers are cautioned that while the resource estimate and analysis were undertaken by competent professionals, a qualified person has not done sufficient work to classify the historical estimate as a current mineral resource. While viewed as relevant, Premier is not treating the historical estimate as current mineral resource and the historical estimate should not be relied upon.) The Saddle Deposit is one of several deposits discovered by Newmont during the 1990's to the northwest of, and down plunge from Rain.

The acquisition of Saddle Gold represents a new chapter in Premier's strategy to build a significant presence in proven, accessible and low-risk jurisdictions that offer opportunities for the discovery of high grade gold deposits. Premier was attracted to the Saddle Gold opportunity for a number of reasons including:

• Premier would be the only company with core land packages and existing gold deposits, within Nevada's "Carlin Trend" and Red Lake's "Mine Trend", two of the world's most prolific and high grade gold mining districts.
• The Saddle Deposit ranks as a potentially significant high-grade gold deposit that remains open for expansion and is located proximal to existing surface and underground infrastructure.
• There is potential for additional discoveries, similar to the Saddle Deposit, to be made.
• Through the royalty in the Emigrant Springs Deposit, Premier would participate in one of Newmont's potential future mine development projects.
• US-based assets would be beneficial to Premier if the price of gold rises as a result of a relative decrease in the value of the US dollar.

With the acquisition of Saddle Gold, Premier is poised to benefit from, and possibly consolidate, the high-grade underground potential in the area. The Saddle Deposit is not subject to any "NSR" royalty obligations.

The Emigrant Springs royalty consists of a 1.5% production royalty in Newmont's Emigrant Springs Deposit. Emigrant Springs is an advanced-stage project host to 1.2 million ounces (Source: Newmont Mining Corporation 2009 Annual Report, page 33, footnote (4)) of undeveloped reserves that represent a portion of Newmont's potential future production within its Carlin operations and is located only 1.5 miles east of Saddle. The Emigrant Springs royalty, when coupled with Premier's existing royalty in PC Gold's Pickle Crow Project, provides the opportunity for Premier to consider growing a "Royalty Division" with potential multiple income streams.