Premier Gold Mines Limited announced the results of a Preliminary Feasibility Study, with an effective date of December 1, 2020, for the South Arturo Project located in the heart of the Carlin Trend in Nevada. South Arturo is operated by the Company's joint venture partner Nevada Gold Mines (40% PG/60% NGM), which is itself a partnership between Barrick Gold and Newmont Mining. The PFS was prepared by Practical Mining LLC and based on the current mineral reserves, utilizing drilling to November 2019 with a life of mine ("LOM") plan that includes the underground El Niño Mine and the proposed Phase 1 Open Pit. Mineral Reserves are reported only for material amenable to roasting from the Phase 1 pit and El Niño underground. All PFS highlights below reflect only Premier's 40% ownership, unless otherwise stated. PFS Highlights of the Report include: $78.1 Million After-tax NPV5% based on a USD 1,400/oz gold price based solely on the El Niño Mine and the Phase 1 Pit. Phase 1 Pit only - 50% After-tax Internal Rate of return ("IRR"). Combined All-in Sustaining Costs (AISC) of $851 per oz. An increase in Proven and Probable mineral reserves of +27%, Measured and Indicated mineral resources of +148% and Inferred mineral resources of +917% versus December 31, 2018. Proven and Probable mineral reserves of 350.5koz gold averaging 2.87 g/t Au1. The PFS does not include the potential of the Phase 3 open pit, heap leach opportunity nor additional underground mining scenarios. Also does not include the results from the 2020 drill program, targeting expansion of the El Niño underground mine and the potential upgrading of the near-surface mineralization. Premier anticipates that a new mineral resource estimate will be completed in 2021 following receipt of all 2020 drilling results. Following the mineral resource estimate, the Company believes an updated PFS would be justified and should include a trade-off study to determine the merits of developing the Phase 3 pit by underground and/or open­pit mining methods and further refinement of the heap leach opportunities at South Arturo.