Placing, Total Voting Rights & Grant of Options (5298C)

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RNS Number : 5298C

Premier Gold Resources PLC

02 May 2012

Embargoed: 0700hrs, 2 May 2012

Premier Gold Resources plc

("Premier Gold" or the "Company")

Placing of Shares,

Total Voting Rights

&

Grant of Options

Premier Gold, the Central Asia-focused gold exploration and development company, today announces that it has raised gross funds of GBP350,000 through a placing of 70,000,000 new ordinary shares at 0.5 pence per share, predominantly with institutional investors.

The funds will be used to advance exploration work at the Cholokkaindy gold project in Kyrgyzstan. This work will include further geochemistry, conventional trenching as well as continuous profiling using a bulldozer, which also is needed to prepare sites for diamond drilling.

Richard Nolan, Chief Operating Officer, commented:

"The board recognises the support of existing shareholders and the willingness shown by new investors in the recent fundraise, the proceeds of which will be utilised on an aggressive exploration programme on the Cholokkaindy licence to include diamond drilling on two of the four gold prospects already identified within the licence."

Application has been made for the 70,000,000 new ordinary shares to be admitted to trading on AIM. Admission is expected on 8 May 2012. Following the issue of the 70,000,000 new ordinary shares, the total number of ordinary shares in issue will be 682,078,458. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in or a change to their interest in the share capital of the Company under the Financial Services Authority's Disclosure and Transparency Rules.

Grant of Options

The Company, at a board meeting on 3 April 2012, decided to implement a share option plan. In the same meeting it decided that it would grant options over 40,000,000 ordinary shares to directors (the "Options"). The Options were to be granted on conclusion of a planned placing, with the exercise price to be set at the placing price of such placing. The Options have now been granted and are exercisable at 0.5 pence per share, being equal to the above placing price, and at any time after the exercise date stated below.

 
Name             Total        Total       Number     Exercisable  Total options 
                  options      options                from         held after 
                  held prior   granted                             today's 
                  to today's                                       grant 
                  grant 
 
Gerry Desler     4,250,000    10,000,000  4,000,000  Now          14,250,000 
                                          3,000,000  30/4/2013 
                                          3,000,000  30/4/2014 
Richard Nolan    0            10,000,000  4,000,000  Now          10,000,000 
                                          3,000,000  30/4/2013 
                                          3,000,000  30/4/2014 
Christian 
 Schaffalitzky   0            10,000,000  4,000,000  Now          10,000,000 
                                          3,000,000  30/4/2013 
                                          3,000,000  30/4/2014 
Reza Tabrizi     0            10,000,000  4,000,000  Now          10,000,000 
                                          3,000,000  30/4/2013 
                                          3,000,000  30/4/2014 
 

Enquiries:

 
 Premier Gold Resources Plc 
 Gerry Desler, Chairman / Richard     Tel: +44 (0) 
  Nolan, COO                           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 / Matthew Neal            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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