Conditional Placing To Raise ?200,000

RNS Number : 6824N

Premier Gold Resources PLC

11 September 2013

 

Embargoed: 0700hrs, 11 September 2013

Premier Gold Resources plc

("Premier Gold" or the "Company")

Conditional Placing To Raise £200,000

Premier Gold (AIM: PGR), the Central Asia-focused gold exploration and development company, announces that it has conditionally raised £200,000 (before expenses) by way of a placing of 100,000,000 new Ordinary Shares (the "Placing Shares") at a price of 0.2 pence per Ordinary Share (the "Placing").

The proceeds of the Placing will used to assist the Company in its exploration objectives at the Cholokkaindy gold licence on the Tien Shan belt in the Kyrgyz Republic and for working capital. Exploration at Cholokkaindy has provided strong geological evidence of an extensive mineralising system, displaying several key indicators associated with large gold deposits in the northern Tien Shan metallogenic belt.

The Placing is conditional upon admission of the Placing Shares to trading on AIM. Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM and it is expected that admission will become effective and trading will commence on 17 September 2013. The Placing Shares will rank pari passu with the existing Ordinary Shares of the Company.

Following the issue of the Placing Shares, the total number of ordinary shares in issue will be 1,108,953,458.  Shareholders may use this number when calculating their percentage holding in the Company.

For further information please visit: www.premiergoldresources.com 

Contacts:

Premier Gold Resources plc
Richard Nolan, CEO	020 7953 4028
Sanlam Securities UK Limited (Nominated Adviser and Broker)
Lindsay Mair / Richard Goldsmith / Catherine Miles	020 7628 2200
Vigo Communications
Ben Simons / Chris McMahon	020 7016 9574

About Premier Gold Resources plc

Premier Gold Resources plc (AIM:PGR) is a gold exploration and development company listed on the London Stock Exchange. Premier Gold is focused on gold opportunities in Central Asia, in particular the Kyrgyz Republic, where the Company's current project, Cholokkaindy, is undergoing extensive exploration and analysis.

Cholokkaindy is a 32 square kilometre licence area located in the northern Tien Shan, 20 kilometres south of Kara Balta and 80 kilometres southwest of Bishkek. Geological results from Premier Gold's work programme to date support the view that Cholokkaindy is one large mineralising system, displaying several key indicators associated with other large gold deposits in the northern Tien Shan metallogenic belt.

 

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