THUNDER BAY, ON, Aug. 3, 2016 /CNW/ – PREMIER GOLD MINES LIMITED (“Premier“) (TSX:PG) is pleased to announce that it has entered into a letter agreement with Orion Mine Finance (“Orion“) to fully-fund the cash component of the recently announced acquisition (the “Acquisition“) of the Mercedes Mine (the “Mercedes Mine“) from Yamana Gold Inc. (“Yamana“) for a total purchase price of US$140.0 million (based on the July 5th, 2016 closing price on the date of signing the non-binding letter of intent with Yamana).