Premier Gold Mines To Acquire The Getchell Project

THUNDER BAY, ON - Premier Gold Mines (PG) reported that it has entered into a definitive purchase agreement with affiliates of Waterton Global Resource Management, Inc. to acquire from Waterton all of the outstanding membership interests of Osgood Mining Company LLC. Osgood is the owner of the Getchell Project in the Getchell gold belt near Winnemucca, Nevada.

The Getchell Project is located at the intersection of the Getchell gold belt and the Battle Mountain-Eureka trend. Open pit mining occurred on the property between 1980 and 1999. Subsequent to that, underground test mining (the Pinson Mine) was conducted in the early 2010s. The mine has been in care and maintenance since 2015.

Upon completion of the Transaction, Getchell will be 100% held by PG USA and become one of its core Nevada assets.

Ewan Downie, President & CEO, said, "We are very excited to add the Getchell Project to our already strong base of Nevada assets. The property has a long track record of successful gold production and we believe that the open pit and underground gold historical resources at Getchell were amongst the highest-grade in North America based on historical work completed on the property and the property will form an integral part of our US-based activities."