First Day of Dealings (4410A)

TIDMPMA

RNS Number : 4410A

Premier Management Holdings PLC

30 March 2012

30 March 2012

Premier Gold Resources plc

("Premier Gold" or the "Company")

(formerly Premier Management Holdings plc)

First Day of Dealings

Shares in Premier Gold, the Central Asia-focused gold exploration and development company, will today begin trading on the AIM market of the London Stock Exchange. Premier Gold has completed the acquisition of Central Asia Resources Ltd bringing with it the Company's first major gold exploration project, the Cholokkaindy licence, in Kyrgyzstan. The Company's name change to Premier Gold Resources plc and trading symbol (AIM: PGR) are expected to change during the course of today.

Strategy

Premier Gold's initial focus is on gold projects on the highly prospective Tien Shan gold belt, running through Kyrgyzstan which is the third largest gold producer of the CIS countries. Kyrgyzstan has a well-developed mining industry with good support services. Many investment incentives have been established to use mining as a starting point for economic development in the country.

Premier Gold has a highly experienced board and management team with a combination of precious metal mining expertise, local political knowledge and corporate finance experience positioning the Company optimally to gain access to and develop further gold projects in the region.

The Cholokkaindy gold project

The Cholokkaindy licence covers an area of 24 square km and is located about 80km west-southwest of Bishkek. Four significant gold prospects have already been identified within the licence. These include the relatively advanced Talbaital and Jarkonush prospects, and the Torsaisky and Aksaisky prospects, which are at an earlier stage.

Premier Gold's focus is currently on the Talbaital and Jarkonush locations and exploration work on these prospects will move into its second full year during the spring when the 2012 exploration season commences. Exploration results at Talbaital and Jarkonush to date have been very encouraging. A semi-continuous gold mineralised zone, with economic grades identified in trenches, extends over 2,000 metres. This will be the focus for detailed exploration work recommencing this spring, including diamond drilling.

Last year, with the benefit of Premier Gold's funds during the completion process of the acquisition of Central Asia Resources Ltd, a total of 559 trench channel samples were collected from an estimated 2500 cubic metres of trenchwork. 532 Lithochemical 'grab' samples from prospecting and mapping programmes were collected and a further 833 geochemical samples on profile grids traversing the Talbaital and Jarkonush prospects were collected. A two week geophysical study, including resistivity, induced polarisation and magnetic surveys, was carried out in October 2011 by a specialist Krgyz crew. Further results from recent exploration work are expected shortly.

With the benefit of the exploration work completed by the end of the 2012 exploration season Premier Gold hopes to commission a Scoping Study in 2013 before moving through the full feasibility phases in 2014 with a view to mine construction commencing in 2015. The Company is currently targeting first commercial gold production from Cholokkaindy in 2016.

Operating Team

Premier Gold has an excellent local partner and operating team led by Chynarbek Tegizbekov, executive director of the Company's Kyrgyz subsidiary, and chief geologist Sagyn Kulzhigitov. Between them Chynarbek and Sagyn have over sixty years of geological experience in Kyrgyzstan.

Further projects

In addition to Cholokkaindy, Premier Gold acquired a lithium licence, Uzunbulak, with the acquisition of Central Asia Resources Ltd. The Company is focused on gold exploration and, as such, considers Uzunbulak as non-core and intends to divest it in the near future.

The management is currently appraising three further gold projects on the Tien Shan gold belt at varying stages of development and looks forward to announcing further additions to the licence portfolio when appropriate.

Gerry Desler, Chairman, commented,

"We have bought to AIM today a highly focused gold exploration and development company with an expert team, well connected in Kyrgyzstan. We are excited not only for the prospects of the Cholokkaindy licence, which we will be drilling on this spring, but also for a number of other projects that are under appraisal."

NB: the new ticker symbol for the ordinary shares of Premier Gold Resources plc is (AIM: PGR) and the warrants is (AIM: PGW).

Enquiries:

 
 Premier Management Holdings Plc 
 Gerry Desler, Chairman               Tel: +44 (0) 
                                       1279 731037 
 
 Libertas Capital Corporate Finance 
  Limited - Nominated Adviser 
 Thilo Hoffmann / Sandy Jamieson      Tel: +44 (0) 
                                       20 7569 9650 
 
 Rivington Street Corporate Finance 
  - Broker 
 Jon Levinson                         Tel: +44 (0) 
                                       20 7562 3384 
 
 M: Communications 
 Ben Simons / Maria Souvorov          Tel: +44 (0) 
                                       20 7920 2340 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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