Premier closes non-brokered private placement

/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. NEWSWIRE SERVICES/

Shares Issued: 159,147,353

THUNDER BAY, ON, June 18, 2015 /CNW/ - PREMIER GOLD MINES LIMITED (TSX:PG) ("Premier", "the Company") is pleased to announce that it has completed its previously announced non-brokered private placement of common shares (each, an "Offered Share") at a price of $2.35 per Offered Share for aggregate gross proceeds of $20 million (the "Base Offering"), including a subscription by Goldcorp Inc. (TSX:G) in the amount of $12.5 million. In addition, the previously announced private placement was upsized by up to approximately $7.1 million (the "Additional Offering" and together with the Base Offering, the "Offering"), for aggregate gross proceeds of approximately $27.1 million on the sale of 11,544,969 Offered Shares. Approximately $2.1 million of the Additional Offering has been completed; the Company expects to complete the sale of the remaining up to $5 million of Offered Shares on or about June 18, 2015.

The net proceeds from the Offering will be used for general working capital purposes. All Offered Shares issued under the Offering are subject to a hold period of four months plus one day from the date of issuance in accordance with the rules and policies of the TSX and applicable Canadian securities laws.

Premier Gold Mines Limited is one of North America's leading exploration and development companies with a high-quality pipeline of gold projects focused in proven, safe and accessible mining jurisdictions in Canada and the United States.  The Company is fully financed with a portfolio of advanced-stage assets in world class gold mining districts such as Red Lake and Geraldton in Ontario and the most prolific gold trends in Nevada.

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, information regarding the intended use of proceeds of the Offering, the completion of the sale of Offered Shares, strategic plans, including future operations, future work programs, capital expenditures, discovery and production of minerals, price of gold and currency exchange rates, timing of geological reports 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.

SOURCE Premier Gold Mines Limited

Ewan Downie, President & CEO, Phone: [phone], Fax: [phone], e-mail: [email protected], Web Site: www.premiergoldmines.com