“PG” Pending Catalysts

1. Trans-Canada project

A total of five diamond drills were active during Q1 2012, drilling some 27,000 metres on the Hardrock Project in 52 drill holes.

Diamond drilling focussed primarily on testing specific target areas of the Fortune Zone and its possible extensions.

Four drills are currently active.

·Expected Soon: Updated NI 43-101-compliant mineral resource estimate.

·Two permit applications are under review by the Ontario Ministry of Environment (MOE). Premier anticipates that the permit approvals will be received soon.

·When received from the MOE, Premier will begin dewatering and ramp excavation activities on the Hardrock Project.

·Late 2012, a Preliminary Economic Assessment is expected following additional drilling, in the Fortune Zone and other zones.

2. Red Lake

High Speed Tram Crosses onto Premier’s JV Ground

The 5,400-foot level 4.8k haulage drift being constructed to link the Red Lake Gold Mines to the Cochenour complex(Bruce Channel) has recently intersected a sequence of gold-bearing structures that are currently being core drill-tested.

The J.V. Project (PG: 49 % and G: 51 %) covers approximately 1.8 k of the haulage drift/High Speed Tram.

The haulage drift will intersect some of the highest potential and untested geology in the heart of the Red Lake camp.

Stephen McGibbon, executive vice-president, project and corporate development, for Premier stated: "The fact that multiple structures have been identified in the first several hundred metres since crossing onto the JV speaks to the potential that could be realized from the drift. For the balance of 2012, all underground tram construction will be on the JV property and regular updates are being received."

3. Cove Gold Project Nevada

April 2012, Premier agrees to acquire high-grade Cove Gold Project.

The transaction is subject to conditions normal for a transaction of its nature, including the approval of the Toronto Stock Exchange.

The acquisition of Cove furthers Premier's strategy to build its United States based project portfolio in proven, accessible and low-risk jurisdictions that offer opportunities for the discovery of high-grade gold deposits. The Cove Project represents a major opportunity for Premier with the potential to become a "flagship” property.

4. Saddle Gold Project

January 2012, Premier signed a Letter of Intent to enter into a Joint Venture with Newmont USA Limited.

The LOI may lead to renewed collaboration on Rain District work.

The agreement, if concluded after a due diligence period, would consolidate interests of Premier and Newmont at the Rain project and would lead to expansion of exploration and development at Rain.