Premier Gold Mines Limited announced that it has signed a Letter of Intent to enter into a joint venture with Newmont USA Limited to consolidate the Saddle and Rain projects within the Rain Sub-district of Nevada's prolific Carlin Trend. Highlights of the proposed joint venture include: Premier and Newmont will each contribute lands held along the "Rain Trend" to consolidate the prospective horizon that is host to the Rain Mine, and the Saddle and Tess gold Deposits; Premier will acquire a 55% operating interest by contributing one land Section, waiving its existing right of payment under the Rain and Emigrant royalties, and contributing an initial $20 million in development expenditures over two years; Newmont will acquire a 45% non-operating interest by contributing three land Sections, full site access to the joint venture including roads, infrastructure and power, and access to contractor/supplier relationships/discounts; and the Joint Venture will secure a favourable milling agreement such that ore from the project will be processed at Newmont's milling facilities that are located within 20 miles of the Property at a pre-arranged milling rate, subject to Newmont's processing and displacement priorities. If the joint venture is able to secure toll milling on more favourable terms, it may engage the alternative milling subject to Newmont's right to match the alternative milling terms.