Premier-Roxmark Geraldton Drilling Continues to Expand Gold Zones

May 6th, 2008
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PREMIER GOLD MINES LIMITED (TSX:PG) is pleased to provide further drill results from an ongoing exploration program at the Geraldton Project, a resource property owned by Roxmark Mines Limited (TSX-V:RMK) and subject to an earn-in option by Premier. Drilling continues to expand new discoveries of gold mineralization in both the newly discovered Kailey Zone and in the high-grade area south of the historic Little Long Lac Gold Mine. Highlights include 1.32g/t Au across 49.0 metres in the Kailey Zone, 11.7g/t Au across 2.5 metres in the No.9 Vein, 12.84g/t Au across 1.3 meters in the No.10 Vein, and 33.93g/t Au across 2.3 meters in the Main Zone.

Kailey Zone

The newly discovered “Kailey” Zone is located parallel to and north of the mine workings of the historic Little Long Lac Gold Mine, and consists of multiple stringer quartz veins with minor mineralization. This near-surface, open pit style, gold mineralization is also located in close proximity to the recently discovered high-grade gold zones (see Table 2) situated to the south of the Little Long Lac Gold Mine. To-date, 16 holes have been drilled to test the Kailey horizon, and all have intersected variable widths of stringer mineralization over an area 300 meters along strike by 225 meters deep - mineralization remains open in all directions. Recent drilling suggests that this mineralization occurs in parallel zones, potentially converging to the east. The Little Long Lac Main Zone saw the production of more than 600,000 ounces of gold during the period 1934-53 at an average grade of 11.66g/t Au. The following table provides a complete summary of assay results received from drilling on the Kailey and Main Zone:

Table 1 Significant Results at Stringer Zone - Little Long Lac Target Area
Hole-ID Section From To Length (m) Zone AU (g/t) AU (opt)
PLL08009 1400E - 3+75N 18.0 82.0 64.0 (210 ft) Kailey 1.14 0.033

Incl. 28.0 79.0 51.0 (167 ft) Kailey 1.33 0.039
PLL08012 1225E - 4+50N 137.0 163.0 26.0 (85 ft) Kailey 1.34 0.039


385.0 386.0 1.0 (3.3 ft) Main East 13.58 0.40
PLL08014 1225E - 4+50N

Abandoned


PLL08015 1220E - 4+30N 78.0 127.0 49.0 (161 ft) Kailey 1.32 0.039
PLL08016 1220E - 4+30N

18.0 (59 ft) Kailey 1.48 0.043
PLL08017 1220E - 4+30N 171.0 196.0 25.0 (82 ft) Kailey 0.63 0.018
PLL08018 1135E - 3+66N 37.0 39.3 2.3 (7.5 ft) Main West 33.93 0.99


144.0 165.0 21.0 (69 ft) Kailey 1.40 0.041
PLL08021 1135E - 3+66N 66.0 87.0 21.0 (69 ft) Kailey 1.21 0.035


226.0 239.0 13.0 (43 ft) Kailey 1.40 0.041
NOTE: True widths estimated at approximately 70% of intersection width

High-Grade Area

In addition to the Kailey zone, high-grade gold mineralization occurring in several parallel vein zones is being tested in an area located approximately 300 meters to the southeast. The primary target of these veins are the No.9 and No.10 Vein Zones, which continue to provide consistent significant results as high as 254.8g/t Au (7.44 opt) over 0.3m and 60.88/t Au (1.78 opt) over 1.0m. The following table provides a complete summary from results received from this area:

Hole-ID Section From To Length (m) Zone AU (g/t) AU (opt)
PLL07001 1400E - 0+00 105.0 106.0 1.0 (3.3 ft) 11 (New) 60.88 1.78


168.0 169.0 1.0 (3.3 ft) 10a (New) 45.32 1.32


189.0 190.9 1.9 (6.2 ft) 10 8.70 0.25


288.3 289.8 1.5 (4.9 ft) 9 11.43 0.33
PLL07002 1500E - 0+25N 120.5 120.8 0.3 (1.0 ft) 10 254.79 7.44


256.8 260.0 3.2 (10.5 ft) 9 2.36 0.07
PLL07003 1400E - 0+50N 150.0 152.0 2.0 (6.6 ft) 10 6.95 0.20


193.3 194.3 1.0 (3.3 ft) 9 3.28 0.10
PLL07004 1500E - 0+50N 26.0 27.0 1.0 (3.3 ft) (New) 5.24 0.15
PLL07005 1400E - 0+50S 143.0 146.0 3.0 (9.8 ft) 11 (New) 4.60 0.13


354.0 358.5 4.5 (14.8 ft) 9 5.81 0.17
PLL07006 1500E - 0+25S 101.0 102.0 1.0 (3.3 ft) 11 (New) 7.81 0.23


188.0 189.0 1.0 (3.3 ft) 10 4.58 0.13
PLL07007 1600E - 0+50N 94.4 95.4 1.0 (3.3 ft) 11 (New) 15.04 0.44
PLL07008 1650E - 1+00S 47.5 48.0 0.5 (1.6 ft) (New) 2.11 0.06
PLL08010 1550E - 0+25N

Nsv


PLL08011 1450E - 0+00 250.0 251.0 1.0 (3.3 ft) 10 15.00 0.44


318.0 320.5 2.5 (8.2 ft) 9 11.72 0.34
PLL08013 1375E - 1+15S 427.0 428.3 1.3 (4.3 ft) 10 12.84 0.37
PLL08019 1375E - 1+00S

Abandoned


PLL08020 1375E - 1+00S 335.0 338.0 3.0 (9.8 ft) 10 3.61 0.11


418.0 421.0 3.0 (9.8 ft) 9 8.19 0.24
NOTE: True widths estimated at approximately 70% of intersection width

Premier holds the option to acquire up to a 70% interest in the Geraldton Project from Roxmark Mines by making cash and share payments to Roxmark, and performing exploration on the Project. The current drilling in excess of 13,000 metres is part of an ongoing minimum $2.5 Million exploration program aimed at confirming Premier’s belief that previously untested sub-parallel mineralized faults occur proximal to the historic Little Long Lac Gold Mine. A systematic drill program is being carried out at Little Long Lac in an effort to build gold resources in the Kailey, No.9 and No.10 Vein zones.

The “Geraldton Project” is located in the heart of the Beardmore-Geraldton greenstone belt, a highly prospective high-grade gold district that has seen relatively little exploration over the past several decades. The Project area covers approximately 10 kilometres of some of the most prospective geology in the region and is host to three past-producing mines and numerous exploration targets in a district that has seen historic production of more than 4.1 Million ounces of gold. Several slides of the Little Long Lac area can be viewed on the Premier Gold Mines Limited website, www.premiergoldmines.com.

Other Projects - Red Lake & Santa Teresa

In addition to the Geraldton Project, Premier holds several additional highly prospective projects located in proven gold districts that are currently being explored by diamond drilling. In Red Lake, drilling continues at the Rahill-Bonanza Project, a joint venture with Red Lake Gold Mines Limited, where several 3 key target areas are being tested - Wilmar, Bonanza, and the deep mine target. Ongoing drilling at the Santa Teresa Project in Mexico, a joint venture between Premier and Sutter Gold Mining Inc. (TSX-V:SGM), has intersected numerous mineralized quartz vein zones along strike the past-producing Princessa Gold Mine (Historical data indicates that mined grades within the district average better than 1.00 ounce gold per ton). Assays from the first several holes are expected to be released in the near future.

Stephen McGibbon, P. Geo., is the Qualified Person for the information contained in this press release and is a Qualified Person within the meaning of National Instrument 43-101. Core from Geraldton is sent to Accurassay Laboratories, an accredited mineral analysis laboratory in Thunder Bay, Ontario, for preparation and analysis utilizing both fire assay and screen metallic methods.

Premier Gold Mines Limited is a fully financed Canadian-based mineral exploration and development company with several projects and deposits in Northwestern Ontario and a joint venture in Mexico. In the Red Lake gold mining camp, two of these are operated in joint venture with Red Lake Gold Mines. A strategic project is also located on the main Musselwhite Gold Mine trend.

For further information, please contact:
Ewan Downie, President & CEO
Phone: 807-346-1390
Fax: 807-345-0284
E-mail: info@premiergoldmines.com
Web Site: http://www.premiergoldmines.com

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company’s expectations and projections.