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Press release from CNW Group


Thursday, November 25, 2010

PREMIER TO COMPLETE $4.95 MILLION FINANCING08:38 EST Thursday, November 25, 2010/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGHOUT U.S. NEWSWIRE SERVICES/Shares Issued: 102,868,308THUNDER BAY, ON, Nov. 25 /CNW/ - PREMIER GOLD MINES LIMITED (TSX:PG) is pleased to announce that it intends to complete a non-brokered private placement of up to 660,000 "flow-through" common shares ("Flow-Through Shares") at a price of $7.50 per share for gross proceeds of up to $4,950,000 (the "Offering"). The Flow-Through Shares will be offered by way of private placement to "accredited investors" under National Instrument 45-106 in the Province of Alberta. The proceeds of the Offering will be used for funding exploration on Premier's Canadian properties.On closing, Premier will pay a finder's fee to Middlefield Capital Corporation ("MCC") in connection with the gross proceeds raised in the Offering from subscribers introduced by MCC in accordance with the rules of the Toronto Stock Exchange.  The Offering is expected to close on or about December 2, 2010 and is subject to certain conditions typical for a transaction of this nature and the receipt of all necessary regulatory approvals including the approval of the Toronto Stock Exchange.Premier Gold Mines Limited is a well 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 are operated in joint venture with Red Lake Gold Mines. The company also owns strategic projects located in the heart of the Carlin Trend, Nevada, on the main Musselwhite Gold Mine trend, and holds a 70% interest in the Hardrock Project.THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.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.%SEDAR: 00024152EFor further information: please contact:Ewan Downie, President & CEO    Phone: 807-346-1390     e-mail: Fax: 807-346-0100 Web Site: