Thunder Bay, March 25, 2020 - PREMIER GOLD MINES LIMITED (“Premier”, “the Company”) (TSX:PG) (OTCPK: PIRGF) would like to update its stakeholders on current operations and the Company’s response to the COVID-19 pandemic.
To-date, activities at the Company’s two operating mines; Mercedes in Sonora, Mexico and South Arturo in Nevada, USA, have not been materially impacted by the COVID-19 pandemic. The Company is working closely with staff and joint venture partners on initiatives designed to help protect employees, their families and local communities from the COVID-19 virus. The Company introduced company-wide health and safety protocols and has implemented controls and safety procedures at each site. These measures include but are not limited to, medical screening of all people accessing the sites, increased sanitation and hygiene practices, social distancing and the requirement that individuals showing symptoms remain at home in self-isolation.
Premier has chosen to temporarily suspend exploration at Hasaga for a minimum two-week period. This decision to implement a spring break earlier than originally planned is not expected to have a material impact on planned exploration for 2020.
The Company’s Ontario and Nevada corporate offices are now temporarily closed, and employees are working remotely. All non-essential travel has been suspended indefinitely.
The Company will continue to monitor developments on a daily basis and will act in accordance with requirements and guidelines issued by local and regional authorities or as deemed necessary to protect the health and safety of employees.
“Our top priority is the health and safety of our employees, their families and the local communities near which we work across North America while safeguarding the interests of our shareholders”, stated Ewan Downie, President and CEO of Premier. “We will also assess the ever-changing market environment as we responsibly prioritize the development of our property portfolio by strategically assessing the best economic scenario for each asset while being cognizant of capital requirements”.
Based on prior disclosure, Premier’s asset portfolio boasts a substantial gold endowment that includes nearly 3 million ounces in Proven & Probable reserves, more than 6 million ounces of gold in Measured and Indicated and 3.8 million ounces in the Inferred resource categories. In addition to producing mines, this portfolio also hosts multiple advanced-stage and permitted projects such as Greenstone Gold and McCoy-Cove, and several exploration-stage assets. The Company is well-funded to meet all 2020 objectives and budgeted programs with a healthy treasury exceeding US$60 million.
Stephen McGibbon, P. Geo., Executive Vice-President, Corporate and Project Development, 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.
Premier Gold Mines Limited is a gold-producer and respected exploration and development company with a high-quality pipeline of precious metal projects in proven, accessible and safe mining jurisdictions in Canada, the United States, and Mexico.Premier remains focused on creating a low-cost, mid-tier gold producer through its two producing gold mines; South Arturo and Mercedes, and through future mine development opportunities at Hardrock in Ontario (Greenstone Gold JV) where permitting and development initiatives are ongoing and McCoy-Cove in Nevada.
For further information, please contact:
Ewan Downie, President & CEO
This Press Release contains certain information that may constitute “forward-looking information” under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, including future operations, future work programs, capital expenditures, discovery and production of minerals, price of gold and currency exchange rates, mineral resource and mineral reserve estimates and corporate and technical objectives. Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the risks inherent to the mining industry, adverse economic and market developments and the risks identified in Premier’s annual information form under the heading “Risk Factors”. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. Premier disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.