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THUNDER BAY, ONTARIO and TORONTO, ONTARIO--(Marketwire - Aug. 8, 2011) -
PREMIER GOLD MINES LIMITED (TSX:PG) and GOLDSTONE RESOURCES INC. (TSX:GRC)(PINK SHEETS:GRSZF) are pleased to announce that the previously announced acquisition of Goldstone by Premier pursuant to a plan of arrangement (the "Arrangement") was overwhelmingly approved at the annual and special meeting of Goldstone shareholders held today. The Arrangement will result in Premier acquiring all of the issued and outstanding shares of Goldstone.


Under the terms of the Arrangement, each Goldstone shareholder will receive 0.16 of one Premier common share and a nominal cash payment of $0.0001 for each Goldstone share held. In order to receive the consideration, Goldstone shareholders should follow the instructions that are set out in Goldstone's Management Information Circular dated June 30, 2011, available at sedar under Goldstone's SEDAR profile. Goldstone's optionholders will receive replacement Premier options, and Goldstone warrants will remain outstanding in accordance with their terms.


Goldstone is seeking a final order of the Ontario Superior Court of Justice (Commercial List), which is expected to be granted on August 12, 2011. Once the final order is received, the Arrangement is expected to be completed on or about August 16, 2011.



About Premier



Premier Gold Mines Limited is a well financed Canadian-based mineral exploration and development company with several projects and deposits in Northwestern Ontario, Nevada and Mexico. Two projects, located in the Red Lake gold mining camp, are operated through joint ventures with Red lake Gold Mines a partnership between Goldcorp Inc. and Goldcorp Canada Ltd. Premier also owns strategic projects located in the heart of the Carlin Trend, Nevada, along strike from Goldcorp's Musselwhite Gold Mine in Ontario and is rapidly advancing the Hardrock Project located along the Trans-Canada highway in the town of Geraldton, Ontario.



About Goldstone



Goldstone Resources Inc. is a gold exploration and development company operating in the historically significant Geraldton-Beardmore camp of Northwestern Ontario and focused on gold exploration and deposit delineation at its Key Lake, Brookbank, Northern Empire and Leitch-Sand River gold properties, and as a partner in the Hardrock Project joint venture with Premier. Goldstone's 100%-owned NI 43-101 compliant resources at Brookbank total 424,000 indicated ounces of gold uncut and 276,600 inferred ounces of gold uncut, using a cutoff grade of 3.4 g/t Au. The Geraldton-Beardmore camp is host to several past producers in a district that has historical production of more than 4.1 million ounces of gold from high grade ore - and to Goldstone's fully permitted, expandable 200-TPD Northern Empire mill.


Further information is available on Premier's website at >www.premiergoldmines.com
ORPhilip Cunningham
Goldstone Resources Inc.
Chairman and Interim CEO
(416) 860-1636
http://www.goldstoneresourcesinc.com/">www.goldstoneresourcesinc.com