i-80 Gold Corp. (IAU)

[NYBob]

Premier - Trans-Canada Drilling Expands High Grade Fortune Zone Horizon Including 64.14 g/t Au Across 4.5 metres
Mon Apr 30, 2012




Premier Gold Mines Limited
(TSX-PG) is pleased to provide an exploration update from
ongoing drilling at the Company's 100% owned
Trans-Canada Project in Northwestern Ontario.
Drilling continues to delineate and expand mineralization in
several high-grade horizons including numerous high-grade
intercepts within the primary target, the Fortune Zone.
Due to the continued success in this highly prospective
horizon, the completion of an updated (NI) 43-101 compliant
mineral resource estimate has been delayed such that the
majority of intercepts contained in this release will be
included.
The resource update is expected to be completed during
the current quarter.

The updated resource will include the multiple deposits that comprise Trans-Canada Project including the Hardrock, Brookbank, Key Lake and Kailey Deposits. All deposits are being assessed for both underground and open pit potential.

The Fortune Zone horizon is comprised of multiple, en-echelon, narrow vein zones located in close proximity to the historic Hardrock mine workings. The horizon has now been delineated over a substantial plunge length and remains open down-plunge. The Fortune Zone has characteristics similar to the high-grade past producing Little Long Lac (600,000 ounces gold produced at a grade of 11.7 g/t) and Leitch (847,900 ounces produced at a grade of 31.5 g/t) Gold Mines that are located on the Trans-Canada Project.

Recent highlights from ongoing drilling include:
14.30 grams per tonne gold (g/t Au) across 4.0 metres (m) or 0.42 ounces per ton (oz/t) across 13.1 feet (ft) in the Fortune Zone horizon in wedge hole MM172A
21.26 g/t Au across 5.1 m (0.62 oz/t across 16.7 ft) in the Fortune Zone horizon, and 18.20 g/t Au across 9.7 m (0.53 oz/t across 31.8 ft) and 10.77 g/t Au across 8.3 m (0.31 oz/t across 27.2) within the North Zone horizon in wedge hole MM191B
62.80 g/t Au across 3.0m (1.83 oz/t across 9.8 ft) in the Fortune Zone horizon in hole MM254
13.66 g/t across 7.0 m (0.40 oz/t across 23 ft) and 64.14 g/t Au across 4.5 m (1.87 oz/t across 14.8 ft) in the Fortune Zone horizon in hole MM268
116.00 g/t Au across 1.0 m (3.39 oz/t across 3.3 ft) in the Fortune Zone horizon in hole MM270
16.31 g/t Au across 2.2 m (0.48 oz/t across 7.2 ft) in the Fortune Zone horizon in hole MM274
12.95 g/t Au across 2.7 m (0.38 oz/t across 8.9 ft) in the K-Zone and 12.84 g/t Au across 3.6 m (0.38 oz/t across 11.8 ft) in the Fortune Zone in hole MM276
"Drilling continues to demonstrate the high-grade nature of recent vein zones being targeted at Hardrock" stated Brian Morris, Vice-President Exploration of Premier. "Owing to the ongoing success in delineating the recently identified Fortune Zone, the revised resource estimate is delayed to maximize resources in this horizon as well as to potentially optimize the economics in a PEA. Going forward, we will continue to define the Fortune Zone but also begin exploration on several other prospective high-grade targets"

Table 1 provides a summary of new assay results from step-out and infill drilling within several targeted high-grade horizons.

http://www.premiergoldmines.com/s/NewsReleases.asp?ReportID=521682

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

Premier Gold Mines Ltd. (TSE:PG)

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God Bless