Newmont Goldcorp Corp (NGT)

[NYBob]

Red Lake haulage drift intersects favourable structures and
gold mineralization on the Rahill-Bonanza JV property


Shares Issued: 137,431,855
THUNDER BAY, ON, May 23, 2012 /CNW/ -

PREMIER GOLD MINES LIMITED
(TSX:PG) is pleased to announce that the haulage drift that is
being constructed to link the Red Lake Gold Mines Complexes to
the Cochenour Complex has intersected multiple mineralized
quartz-carbonate vein structures since crossing onto the
Rahill-Bonanza Joint Venture Project.

The Rahill-Bonanza Project is located in the heart of the main
Red Lake "Mine Trend" and is being explored with joint venture
partner Red Lake Gold Mines Limited ("RLGM"), an affiliate of
Goldcorp Inc. (TSX:G, NYSE:GG).

The Rahill-Bonanza Project (PG:49% & G:51%) covers approximately
4.5 kilometres of the main Red Lake "Mine Trend" between
the Red Lake Gold Mines complex to the east, and
the Cochenour Complex to the west.

The haulage drift is being excavated from the 5400 foot Level of
Red Lake Gold Mines and will intersect several kilometres of
some of the highest potential and untested geology in the heart
of the Red Lake camp.

The drift has recently intersected a sequence of gold-bearing
structures that are currently being core drill-tested.

Several narrow structures hosting favourable alteration and
mineralization have recently returned, in muck and chip
samples, encouraging gold grades from anomalous up to
16.46 grams per tonne gold (g/t Au) or
0.48 ounces per ton (oz/t Au).

Additionally, a previously drilled pilot hole also returned
elevated gold grades.
The exploration drilling program from the drift on the Joint
Venture Property is slated to commence in H2-2012.
However, following the completion of the current pilot hole
additional shorter holes are planned targeting an area where
numerous gold-bearing structures were identified.

"A number of favourable structures have been intersected by the
haulage drift on the Joint Venture Property.
This continues to confirm the potential of this highly
prospective, yet un-explored part of one of the world's premier
high-grade gold camps" stated Stephen McGibbon, Executive Vice-
President, Project and Corporate Development for Premier.

"The fact that multiple structures have been identified in the
first several hundred metres since crossing onto the JV speaks
to the potential that could be realized from the drift.

For the balance of 2012, all underground tram construction will
be on the JV Property and regular updates are being received".

The haulage drift will connect the two operations for the
development of
the Cochenour Mine and will provide a prime underground
exploration platform to conduct a long-term exploration program
to test this largely unexplored part of the camp.

In addition to the underground development, an ongoing surface
drill program will continue to test the down-dip extension of
the historic Wilmar Gold Mine on the Joint Venture property.

This drilling will aim to compliment previous drilling that
intersected significant gold mineralization mid-way between the
historic workings and the depth of the haulage drift.

Past-production at Wilmar, over a period of four years,
resulted in 203,256 tons of ore being mined at an average grade
of 10.3 g/t (0.30 oz/ton) Au.
The deposit remained open at depth when the mine shutdown.

Stephen McGibbon, P. Geo., 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.
Assay results are from core samples sent to Activation
Laboratories, an accredited mineral analysis laboratory in
Ancaster, Ontario, or to Accurassay Laboratories, an accredited
mineral analysis laboratory in Thunder Bay, Ontario, for
preparation and analysis utilizing both fire assay and screen
metallic methods.

Premier Gold Mines Limited is 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's portfolio includes significant assets in world
class gold mining districts such as Red Lake, Musselwhite and
Geraldton in Ontario and the Carlin Trend in Nevada.

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.


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