PREMIER GOLD MINES LIMITED Red Lake Project Update May 2011 Symbol: PG Exchange: TSX This presentation 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 or projections. Historical Resources have been estimated by previous operators and are not NI43-101 compliant. 1 PG:TSX
Home of the World s s Richest Gold Mine THE PREMIER DIFFERENCE RED LAKE 4 Projects - The Rahill-Bonanza JV represents the last project on the main Red Lake Mine Trend not 100% owned by Goldcorp. - Recent Developments: - Tram construction is underway - Cochenour/Bruce Channel mine development CANADA S S #1 ADDRESS FOR HIGH GRADE GOLD GAZ ZONE NEW MINERAIZED ZONE Rubicon Phoenix Project F2 Zone F2 NEW DISCOVERY: to 297 g/t Au 1.0 m CHEVRON ABINO East East Bay Bay Trend Trend Goldcorp View from Rahill-Bonanza Joint Venture boundary BRUCE CHANNEL Madsen Madsen Trend Trend BC COCHENOUR WILMAR BONANZA PG70 DISCOVERY: 124.3 g/t Au 1.5 m 68.87 g/t Au 3.5 m Mine Trend RLGM RED LAKE GOLD MINES HGZ HIGH-GRADE ZONE McKENZIE GOLD MINE BRUCE CHANNEL DEPOSIT 2 -Gold Deposit
MINE TREND CONSOLIDATION Market Cap $1 Billion F2 Placer Dome Takeover In 2007 Cochenour Unconformity GEA 2008 Takeover $1.5 Billion (Gold Eagle) Wilmar Rahill-Bonanza JV Bonanza RLGM Red Lake Gold Mines World s highest-grade gold mine +27 Million ounces of gold GOLDCORP CONSOLIDATION OF THE RED LAKE CAMP 3 PG:TSX
Red Lake Geology Strategically located in the heart of the Red Lake Mine Trend Wilmar/PG70 Zones are associated with ultramafic rock units similar to the major deposits in Red Lake ABINO (G) F2 ZONE (RMX) RAHILL-BONANZA JV FOOTWALL ZONE (PG-G) G) N 1 km - GOLD ZONE Unconformity CHEVRON (G) BRUCE CHANNEL COCHENOUR PG70 ZONE High Speed Tram WILMAR BONANZA MARCUS CRAIBBIE FLETCHER Rahill-Bonanza JV HG YOUNG RED LAKE GOLD MINES DC ZONE Tram to Dec. 2010 HIGH GRADE ZONE Premier holds the last land on the main Red Lake Mine Trend not 100% owned by Goldcorp 4 PG:TSX
RAHILL-BONANZA JV 13 Level Drift 1.24 M.oz @ 0.54 OPT. 2010 - MULTIPLE CATALYSTS FOR REALIZING GROWTH: - Continued Exploration and expansion Success at Rahill-Bonanza. Bruce Channel Deposit - Resource models being built for and Wilmar deposits. - Follow-up drilling on new Ultramafic discovery. - Drill testing of the potential Bruce Channel extension Q1 2010. 2E Ext. PG70 Zone - Discovery potential at Lennie Red Lake Drilling ongoing. - Drill testing major structural break at East Bay ( F2 -like). Bonanza Deposit Cochenour Mine 1,589,000 tonnes @ 7.6 g/t Au Wilmar Mine 203,256 Tons @ 0.3 OPT Unconformity TRAM Mine Trend Investigation 1 km Craibie-Fletcher High-Speed Tram 5 2010 Program $2.5M - 12,000 m COCHENOUR BRUCE CHANNEL PG70 ZONE BONANZA RED LAKE GOLD MINES HIGH GRADE ZONE
RAHILL-BONANZA JV Surface -650m COCHENOUR Mine Trend Potential WILMAR BONANZA PG-G Joint Venture 7.3 km RLGM +27 Million Ounces of Gold -1300m Bruce Channel 2005 GEA PG70 Zone 124.3g/t - 1.5m 9.5 g/t 6.0 m Wilmar Target 2E Extension Marcus Target High Speed Tram Craibbie Fletcher Target DC Zone 2000 Boundary Zone 2006 High-Grade Zone 1995 2.4 km Current drilling program PG70 Zone discovery Several recent discoveries have been made down plunge of existing deposits Longitudinal Section Looking North - Majority of holes that have tested the PG70 Zone have intersected ed visible gold - HIGH SPEED TRAM WILL OPEN UP HUGE POTENTIAL AT DEPTH 6 PG:TSX
RAHILL-BONANZA JV From Goldcorp website Global Metals Mining Conference, March 2, 2010 Approx current location Approx location cross onto JV
WILMAR ZONES LONGSECTION WILMAR MINE Avg. +10g/t Au * Historic Mine Grade Wide open for expansion 500 m PG11090 46.15 g/t 4.5m PG10082 68.9 g/t 3.5m 6E Zone 8 9.5g/t 6.0m 2E 2E STRUCTURE STRUCTURE - OPEN OPEN UNTESTED PG07018W1 14.2g/t Au 5.0 m Incl. 59.09g/t Au 1.0m PG07015W4 9.11g/t Au 6.0m Incl. 49.0g/t Au 1.0 m
WILMAR 2E LONGSECTION TARGETS 2E structure is wide open for expansion 2E Zone Mining 0.4 oz/ton Au 9 UNTESTED AREA PG10082 68.9 g/t 3.5m OPEN OPEN PG10082A 1.68 g/t -1.4m PG11090 42.59 g/t 1.5m 46.15 g/t 4.5m 12.77 g/t 4.5m OPEN OPEN PG11091 Assays Pending UNTESTED AREA PG11092 Assays Pending 6E Zone Deposit 2E Zone Mineralized lens within West Wilmar Carbonate structure. Similar to PG70 Zone. High Grade Zone potential