Premier Gold Announces Closing of C$80.4 Million Financing by its Subsidiary, i-80 Gold Corp.

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Thunder Bay, Ontario – March 18, 2021 – Premier Gold Mines Limited (“Premier” or the “Corporation”) (TSX:PG) (OTCPK: PIRGF) is pleased to announce that its wholly-owned subsidiary, i-80 Gold Corp. (“i-80”) has closed its previously announced private placement offering of 30,914,614 subscription receipts of i-80 (the “Subscription Receipts”) at a subscription price of $2.60 per Subscription Receipt for aggregate gross proceeds of approximately C$80.4 million (the “Offering”). The Offering was conducted on a marketed private placement basis through a syndicate of agents led by CIBC World Markets Inc. (“CIBC”), and including Sprott Capital Partners LP, Stifel Nicolaus Canada Inc., Canaccord Genuity Corp., Scotia Capital Inc., BMO Nesbitt Burns Inc., Cormark Securities Inc. and RBC Dominion Securities Inc. (collectively, the “Agents“).

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