Premier Gold Mines Reports 2016 Fourth Quarter and Full-Year Results Solid first year of production sees year-end cash & cash equivalent balance of USD$89.2 million (CAD$119.7 million)

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PREMIER GOLD MINES LIMITED (TSX: PG) (“Premier”, “the Company”) is pleased to announce its operational and financial results for the three months and year-ended December 31, 2016. The Company previously released its production results for the fourth quarter and full year in its news release dated January 12, 2017. This press release should be read in conjunction with the Company’s Consolidated Financial Statements and related Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) for the year ended December 31, 2016, which are available on SEDAR ( All dollar amounts included in this press release are expressed in Canadian dollars, unless otherwise noted, and are based on the Company’s MD&A and Consolidated Financial Statements, which were prepared in accordance with International Financial Reporting Standards. 2016 Fourth Quarter Highlights  Consolidated production of 81,511 ounces of gold and 98,401 ounces of silver(i)  Consolidated Gold revenue of USD$102.0 million (CAD$135.1 million) on sales of 82,188 ounces at an average realized price of USD$1,241 (CAD$1,644) per ounce  Consolidated co-product cash costs(ii) of USD$306 per ounce of gold sold  Consolidated co-product all-in sustaining costs(ii) of USD$356 per ounce of gold sold  Net income for the quarter of USD$20.4 million (CAD$27.0 million)  Cash flow from operating activities of USD$73.0 million (CAD$96.7 million) (i) Final gold production lower by 279 ounces and silver higher by 410 ounces than previously released on January 12, 2017 due to final year end reconciliation (ii) See “Non-IFRS Measures”. A cautionary note and further information regarding Non-IFRS metrics is included in the “Non-IFRS Measures” section of the MD&A 2016

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