Premier Sells Two Royalties to Franco-Nevada for $6 million

Date : 09/25/2019 @ 10:00AM
Source : PR Newswire (Canada)
Stock : Premier Gold Mines Limited (PG)
Quote : 2.04  -0.01 (-0.49%) @ 9:10PM

Premier Sells Two Royalties to Franco-Nevada for $6 million

Premier Gold Mines (TSX:PG)
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THUNDER BAY, ON, Sept. 25, 2019 /CNW/ - Premier Gold Mines Limited ("Premier") (TSX:PG) (US:PIRGF) is pleased to announce that it has sold a package of net smelter return ("NSR") royalties to Franco-Nevada Corporation (TSX:FNV) (NYSE:FNV) for total gross proceeds of US$6 million.

Premier Gold Mines Limited (CNW Group/Premier Gold Mines Limited)

The package consists of a 2% NSR on the PQ North Property, adjoining the Musselwhite Mine in Northwestern Ontario, and a 1.5% NSR on the Rain/Emigrant and Saddle Properties located in Nevada.

Premier Gold Mines Limited is a gold-producer with a respected exploration and development pipeline of high-quality precious metal projects in proven, accessible and safe mining jurisdictions in Canada, the United States, and Mexico. Premier remains focused on creating a low-cost, mid-tier gold producer through its two producing gold mines, South Arturo and Mercedes, as well as mine development opportunities at McCoy-Cove in Nevada and Greenstone Gold in Ontario.

This Press Release contains certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, including future operations, future work programs, capital expenditures, discovery and production of minerals, price of gold and currency exchange rates, timing of geological reports and corporate and technical objectives. Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information, including the risks inherent to the mining industry, adverse economic and market developments and the risks identified in Premier's annual information form under the heading "Risk Factors". There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. Premier disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Premier Gold Mines Limited

Copyright 2019 Canada NewsWire

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