Premier Gold Mines Limited (“Premier”) (TSX: PG) is pleased to announce that the Environmental Assessment (“EA”) for the Hardrock Project (the “Project”) was approved on December 13, 2018 by the Honourable Catherine McKenna, Minister of Environment and Climate Change. The multi-million ounce gold mining project, as proposed by Greenstone Gold Mines, consists of the construction, operation, decommissioning, and abandonment of an open pit and onsite metal mill located near Geraldton, in northern Ontario (see Minister’s Decision Statement).
The decision follows a thorough and science-based environmental assessment conducted by the Canadian Environmental Assessment Agency with the participation of Indigenous groups, the public, and federal departments including Fisheries and Oceans Canada, Environment and Climate Change Canada, Health Canada, and Natural Resources Canada.
Participating provincial ministries included the Ministry of the Environment, Conservation and Parks, the Ministry of Natural Resources and Forestry, and the Ministry of Energy, Northern Development and Mines.
“The Ministers’ approval of the EA is a significant milestone for the Hardrock Project. Our engagement with representatives of the local Indigenous communities, local communities and the various government agencies has been very positive throughout the process and we look forward to continued advancement of the Project”, stated John Begeman, Executive Chairman of Premier.
Greenstone Gold Mines (GGM), a 50/50 joint venture between Premier Gold Mines Limited and Centerra Gold Inc, has worked closely with Federal and Provincial authorities since initiating the EA in 2014. Following the collection of baseline environmental data, GGM submitted a draft EA in February 2016 and the final EA in July 2017. Much of the technical work and consultation carried out prior to the submission of the final EA helped to facilitate the timely approval of the federal EA, which confirms that the Project is not likely to cause significant adverse environmental effects considering the implementation of key mitigation measures and follow-up program measures.
The Provincial Ministry EA Review Report was issued for public comment on October 22, 2018 and approval is anticipated in Q1 2019. Work on construction permit applications are well advanced and will be submitted for review once the federal EA and provincial EA’s are approved.
GGM continues work on de-risking and optimizing the Hardrock Project through 2018, making significant progress in moving the Project towards a Construction Decision.A Definitive Agreement with Long Lake #58 First Nation earlier in 2018 was signed and GGM is currently negotiating agreements with the other local Indigenous communities. A grade control drill program was completed on the project to better understand mineralization of the top three benches of the mine with the results expected in the Q1 2019.GGM has also engaged financial advisors to begin the process of identifying the various financing options that may be available for the Hardrock Project.
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.
For further information, please contact:
Ewan Downie, President & CEO Phone: 807-346-1390 e-mail: Info@premiergoldmines.com Web Site: http://www.premiergoldmines.com
Centerra Gold Inc. (“Centerra”) (TSX: CG) and Premier Gold Mines Limited (“Premier”) (TSX: PG) are pleased to announce today the completion of their previously announced 50/50 joint venture partnership formed for the purpose of the joint ownership and development of Premier’s Trans-Canada Property including the Hardrock Gold Project located in the Geraldton-Beardmore Greenstone belt in Ontario.
Premier, through a wholly-owned subsidiary, has contributed all property, assets and rights it held in respect of the Trans-Canada Property to the partnership in consideration for its 50% interest in the partnership, and Centerra has made an initial cash contribution to the partnership in the amount of C$85 million for its 50% limited partner interest. Centerra and Premier have formed a joint board of directors to oversee future exploration, development and operations by the partnership at the Trans-Canada Property.
About Centerra Centerra is a leading North American-based gold producer operating, developing, exploring and acquiring gold properties in Asia, Canada and other markets worldwide. Centerra is the largest Western-based gold producer in Central Asia. Centerra’s shares trade on the Toronto Stock Exchange (TSX) under the symbol CG. The Company is headquartered in Toronto, Ontario, Canada.
About Premier Premier is one of North America’s leading exploration companies with a high quality pipeline of projects focused in proven, safe and accessible mining jurisdictions in Canada and the United States that includes world class gold mining districts such as Red Lake and Geraldton in Ontario and the Battle Mountain-Eureka Trend in Nevada.
Cautionary Note Regarding Forward-Looking Information This news release contains certain information that may constitute “forward-looking information” under applicable Canadian securities legislation, including statements which are not historical facts. Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including risks inherent to the mining industry, adverse economic and market developments and the risks identified in Premier’s annual information form under the heading “Risk Factors”, the risks identified in Centerra’s annual information form under the heading “Risks that can affect our business” and other risks identified in each of Premier’s and Centerra’s other filings with the Canadian securities regulators. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and each of Premier and Centerra disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
For more information:
Centerra Gold Inc. John W. Pearson Vice President, Investor Relations (416) 204-1953 john.pearson@centerragold.com
Premier Gold Mines Limited Matthew Gollat Manager, Corporate Development, Investor Relations (807) 346-1390 mgollat@premiergoldmines.com
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