i-80 Gold Corp. (IAU)

[NYBob]

Premier Reports Second Quarter Production of 16,007 Ounces Gold
Canada NewsWire
THUNDER BAY, ON, July 12, 2018

Increasing Annual Gold Production Guidance
THUNDER BAY, ON, July 12, 2018 /CNW/ -

PREMIER GOLD MINES LIMITED ("Premier" or "The Company") (TSX:PG) is
pleased to announce its second quarter (Q2) production results,
including an increase in annual production guidance, and a continued
solid and safe track record from the Company's mining operations.

Premier Gold Mines Limited (CNW Group/Premier Gold Mines Limited)

Second Quarter - 2018 Production Highlights:

Gold production of 16,007 ounces
Silver production of 51,746 ounces
Gold Sales of 20,642 ounces
First half gold production from South Arturo significantly exceeded
annual production forecasts.
The Company has therefore revised its full-year consolidated production
guidance from 85,000 - 95,000 to 90,000 - 100,000 ounces of gold (See
Table 2).

Table 1 provides a summary of production statistics from the mines and of ounces sold on a Q2 and year-to-date (YTD) basis.

Table 1 – Preliminary Production Results for Q2 2018 and YTD

https://web.tmxmoney.com/article.php?newsid=6998291878905946&qm_symbol=PG


MINE

GOLD PRODUCED (ounces)

SILVER PRODUCED (ounces)


Q2 2018

YTD 2018

Q2 2018

YTD 2018

Mercedes, Mexico

13,780

28,789

44,366

101,736

South Arturo, Nevada

2,227

17,767

7,380

9,836

Consolidated Production

16,007

46,556

51,746

111,572

Gold Ounces Sold

20,642

49,916

58,098

124,308



"The Company began to see the impact of Mercedes development initiatives late during the second quarter when production from Diluvio and Rey de Oro began to reach the mill." stated John Begeman, Executive Chairman of Premier. "It is expected that these two deposits will drive increased production and a stronger second half at Mercedes. When also considering stronger than expected production from South Arturo, we have re-evaluated and ultimately revised 2018 gold production guidance".

South Arturo Mine, Nevada

The South Arturo Mine, a joint venture operated by Barrick Gold, has
delivered exceptional results since achieving commercial production.
Processing of ore stockpiled from mining of Phase 2 will continue on a
limited scale throughout the balance of the year, however processed ore
in H1-2018 was well above guidance resulting in an increase in annual
production expectations.

Efforts are now focused on expanding operations with construction of two
new mines, the Phase 1 open-pit and the El Nino underground project.
Stripping of Phase 1 is now underway and construction of a ramp at El
Nino will begin in July.
Work also continues to advance a potential "Phase 3" open-pit
opportunity, with drilling and additional metallurgical and
geotechnical characterization being completed during 2018.

Mercedes Mine, Mexico

Mercedes Mine production was impacted during the first half of the year
owing to delays in the development of the Diluvio and Rey de Oro
deposits, resulting in production being weighted towards the second
half of the year.
Reinterpretation of the Diluvio ore shapes required changes to the
stope designs.
Mining in Rey de Oro was delayed by permitting requirements for the
ventilation system.

Revised 2018 Production Guidance

Table 2 - Revised Production Guidance

2018 Production Guidance

Mine

Production

South Arturo

15,000 – 20,000

Mercedes

75,000 – 80,000

Consolidated

90,000 – 100,000



Q2 – 2018 financial results and conference call details:

Full financial results for the three months ended June 30, 2018, will be
released before market open on August 8, 2018 and a conference call
with senior management will be held at 10:00 am EDT.

Details for the conference call and webcast can be found below and will
be accessible on the Company's website at
http://www.premiergoldmines.com

Toll Free (North America): 1-888-390-0605
International: 1-416-764-8609
Conference ID: 56942802

Webcast Link

https://event.on24.com/wcc/r/1794406/82F06DEFD22FC9455430F56D15914A16

Conference Call Replay

The conference call replay will be available from 1:00pm EDT on
August 8, 2018 until 11:59 pm EST on August 15, 2018.

Toll Free Replay Call (North America): 1-888-390-0541
International Replay Call: 1-416-764-8677
Passcode: 942802#

Premier Gold Mines Limited is a gold producer and respected exploration
and development company with a high-quality pipeline of precious metal
projects in proven, accessible and safe mining jurisdictions in Canada,
the United States, and Mexico.

Stephen McGibbon, P. Geo., Executive Vice President, Corporate and
Project Development, is the Qualified Person for the information
contained in this press release and is a Qualified Person within the
meaning of National Instrument 43-101.

This Press Release contains certain information that may constitute "forward-looking information" ---- 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


View original content with multimedia:
http://www.newswire.ca/en/releases/archive/July2018/12/c5239.html

Ewan Downie, President & CEO, Phone: [phone], e-mail:
[e-mail], Web Site: www.premiergoldmines.comCopyright
CNW Group 2018

https://web.tmxmoney.com/article.php?newsid=6998291878905946&qm_symbol=PG

God Bless