Expansion Of High-Grade Mineralization At Hasaga Project

THUNDER BAY, ON — Premier Gold Mines reported exploration progress on the 25,000 m drilling campaign at the Hasaga Project in Red Lake, Ontario. The Hasaga Project, located contiguous with Pure Gold Mining's Madsen Project (1 million ounces of high-grade probable reserves earmarked for Q4 2020 production), and is host to an important 2017 discovery that includes high-grade mineralization with true widths up to 30 m that remains open for expansion. The Epp-C and Epp-D zones represent priority targets to host the next generation of mineral resources with highly attractive attributes for potential mine development.

Highlights from the 2020 exploration campaign include: The Epp-C zone has been extended at least 150 m to the west and 60 m to the east with respectively, 13.0 m of 12.05 g/t Au contained within 38.8 m of 4.93 g/t Au (HMP192), and 4.2 m of 9.23 g/t Au contained within 9.6 m of 4.71 g/t Au (HMP185W2); The Epp-D is still wide open laterally and at depth and highlighted mineralization continues with: 13.8 m of 6.04 g/t Au contained within 45.5 m of 2.11 g/t Au (HMP186W1), and 16.5 m of 2.52 g/t Au (HMP186); The Hasaga Porphyry, main host of the mineralization was intercepted 600 m west of the known zone and returned 13.1 m of 2.49 g/t Au and 4.0 m of 2.25 g/t Au (HMP191); & The Buffalo mineralization was drilled 300 m east of the known Buffalo zone with visible gold and an overall intercept of 5.9 m of 3.52 g/t Au (HMP193).

Hole HMP192, which hosts an intercept grading 12.05 g/t Au over 13.0 m, is the most important result received to date as it opens a 300 m gap between the historically mined B-Zone at Hasaga and the Epp-C Zone that warrants additional drilling and potentially has very positive implications for the resource estimate being planned at the end of the 2020 drill program.

Past exploration has sought to understand the western extension of the structure that hosts the Howey and Hasaga Mines. Previous drilling completed by Premier in 2017 discovered high-grade intercepts grading 54.0 m of 10.94 g/t Au (HMP151) and 50.0 m of 9.19 g/t Au (HMP164) with mineralization characteristic of the Hasaga Mine. Subsequent infill drilling improved continuity of the mineralization. This year, the potential extension of the Epp-C was tested toward the Hasaga Mine and hole HMP192, located 200 m east of HMP151 and some 140 m outside the Epp-C footprint, hosted 13.0 m of 12.05 g/t Au contained within 38.8 m of 4.93 g/t Au. Visible gold has been noted in a 1.0 m sample grading 118.00 g/t Au. This trend is still open for expansion and the balance of the drilling program will focus around the historic Hasaga Mine workings to delineate resources proximal to the historic mine workings.

The western extension of the Epp-C returned 4.2 m of 9.23 g/t Au included within 9.6 m of 4.71 g/t Au (HMP185W2). This hole was 60 m west of HMP176W3 that returned 39.0 m of 5.69 g/t Au. The Epp-C also remains open at depth.

The West Target area, which corresponds to the mineralized corridor between the Epp-D Zone and the Buffalo Mine, was evaluated with a limited drilling and resampling program that has improved Premier's understanding of the controls on mineralization. The Hasaga porphyry, main host of the Epp zones, was intercepted in HMP191, in a 600 m step out west of the main trend. It returned 13.1 m of 2.49 g/t Au and 4.0 m of 2.25 g/t Au in two distinct intervals. This exciting result opens the area of potential high-grade mineralization to a 1,500 m trend of mineralized Hasaga Porphyry.