Premier Gold Mines announces $20 million financing

Premier Gold is pleased to announce that it intends to complete a non-brokered private placement (the "Offering") of common shares at a price of Cdn$2.35 per share, for aggregate gross proceeds of up to approximately Cdn$20,000,000. Goldcorp Inc. (TSX:G, NYSE:GG) will participate in the private placement in the amount of Cdn$12.5 Million.

The net proceeds from the private placement will be used for general working capital purposes.

The Offering is scheduled to close on or about June 15, 2015, subject to certain conditions typical for a transaction of this nature including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the Toronto Stock Exchange ("TSX").

The securities to be issued under the Offering will be subject to a hold period of four months plus one day from the closing of the Offering 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.

For further information, please contact:

Ewan Downie, President & CEO
Phone: 807-346-1390
Fax: 807-346-1381
e-mail: [email protected]
Web Site: www.premiergoldmines.com