PREMIER IN RED LAKEPREMIER IN RED LAKE

1

McKENZIE GOLD MINEMcKENZIE GOLD MINE

-- 4 Red Lake Projects, 4 Gold Deposits4 Red Lake Projects, 4 Gold Deposits

-- Strategically located in the heart of Strategically located in the heart of the camp.the camp.

-- RahillRahill--Bonanza joint venture Project Bonanza joint venture Project is located adjacent to the is located adjacent to the prolific Red Lake Gold prolific Red Lake Gold Mines complex.Mines complex.

-- New Gold discovery in 2009:New Gold discovery in 2009:-- Focus of current drill programFocus of current drill program

-- Bonanza Deposit:Bonanza Deposit:-- 1,589,000 tonnes @ 7.6 g/t Au1,589,000 tonnes @ 7.6 g/t Au

BRUCE CHANNEL DEPOSITBRUCE CHANNEL DEPOSIT

RED LAKE PROJECTSRED LAKE PROJECTS

RLGM

- Gold Deposit

Goldcorp

BC

F2F2

Rubicon Phoenix Project

COCHENOUR

F2 Zone

BONANZA

WILMAR

WGZ

*for illustrative purposes only*

CHEVRON

HGZ

COCHENOUR

RED LAKE GOLD MINES

CANADACANADA’’S #1 ADDRESS FOR HIGH GRADE GOLDS #1 ADDRESS FOR HIGH GRADE GOLD

HIGH-GRADEZONE

BRUCECHANNEL

GAZ ZONE

East

Bay T

rend

East

Bay T

rend

Madse

n Trend

Madse

n Trend

Mine TrendMine Trend

Mine Trend PotentialMine Trend Potential

Longitudinal SectionLooking North

7.3 km

2.4 km

RLGMWILMAR

GEA

-650m

Surface

Current drilling program – PG70 Zone discovery

-1300m

PG-G Joint Venture

High-GradeZone 1995

DC Zone2000

Bruce Channel2005

Several recent discoveries have been made down plunge of existing deposits

Boundary Zone 2006

PG70 ZoneDiscovery

+27 Million Ounces of Gold

COCHENOUR

WGZ

High Speed TramWilmar

Target

Marcus

Target

Craibbie‐FletcherTarget

BONANZA

RAHILLRAHILL--BONANZA JVBONANZA JV

www.premiergoldmines.com PG:TSX2

-- All 3 holes testing the PG70 Zone have intersected visible goldAll 3 holes testing the PG70 Zone have intersected visible gold-- Drilling also continues to expand the WGZ Zone downDrilling also continues to expand the WGZ Zone down--dipdip

2010 - MULTIPLE CATALYSTS FOR REALIZING GROWTH:

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- Continued Exploration and expansion Success at Rahill-Bonanza.

- Resource models being built for WGZ and Wilmar deposits.

- Follow-up drilling on new Ultramafic discovery.

- Drill testing of the potential Bruce Channel extension – Q1 2010.

- Discovery potential at Lennie Red Lake – Drilling ongoing.

- Drill testing major structural break at East Bay (‘F2’-like).

WGZWGZ

13 Level Drift

BonanzaDeposit

2010 Program2010 Program$2.5M $2.5M -- 12,000 m12,000 m

Cochenour MineCochenour Mine1.24 M. oz @ 0.54 OPT1.24 M. oz @ 0.54 OPT

Bruce ChannelBruce ChannelDepositDeposit

Unconform

ity

RAHILLRAHILL--BONANZA JVBONANZA JV

Wilmar MineWilmar Mine203,256 Tons @ 0.3 OPT203,256 Tons @ 0.3 OPT

TRAM

1 km1 km

1,589,000 tonnes @ 7.6 g/t Au

DC ZoneDC Zone

HighHigh--GradeGradeZoneZone

Follow‐up drilling underway

N

New Discovery

420 m of tram 

completed at 

March 10/10

4

PG70 ZONE DISCOVERYPG70 ZONE DISCOVERYRed Lake GeologyRed Lake Geology

Major deposits occur proximal to unconformityMajor deposits occur proximal to unconformitybetween Balmer & Confederation rock unitsbetween Balmer & Confederation rock units

PG70 Zone is associated with an ultramafic rockunit similar to the major deposits in Red Lake

WILMARWILMARWGZWGZ

BONANZABONANZA

www.premiergoldmines.com PG:TSX

N

Unconformity

COCHENOURCOCHENOUR

RED LAKE GOLD MINESRED LAKE GOLD MINES

HIGH GRADE ZONEHIGH GRADE ZONE

BRUCEBRUCECHANNELCHANNEL

PG70 ZONEPG70 ZONEDC ZONEDC ZONE

1 km

Rahill-Bonanza JV

High Speed Tram

High Speed Tram

Plan ViewPlan View

PG70 Zone Trend - Ope

Carb Zone in PG10072

WGZ

PG1007124.59 g/t – 1.0 mPG10070 (WGZ)

2.15 g/t – 6.0 m

100m

N

PG10071 (WGZ)2.53 g/t – 19.0 m

5

PG100706.8 g/t – 3.0 m

PG10072

PG10070

PG10071

PG1007123.70 g/t – 2.0 m

PG1007110.34 g/t – 3.0 m

PG0072VG noted

Assays Pending

Open

- NEW HIGH-GRADE DISCOVERY LOCATED SOUTH OF WGZ DEPOSIT

PG70 ZONE DISCOVERYPG70 ZONE DISCOVERYPG70 ZONE DISCOVERY

PG10071 (New)8.64 g/t – 1.7 m

PG70 ZoneLong Section looking North

PG70 ZonePG70 ZoneLong Section Long Section looking North looking North

PG10071 – 3 Zones23.70 g/t – 2.0 m24.59 g/t – 1.0 m10.34 g/t – 3.0 m

PG100706.8 g/t – 3.0 m

PG10072VG Noted

Assays Pending

100m

6

PG10

072B

PG10

071

PG10070

OPENOPEN

- NEW DISCOVERY- Open in all directions!

Bru

ce C

hann

el D

epos

it(fo

r illu

stra

tive

purp

oses

)

Unconformity

in

fold

-400.0Y

-200.0Y

-600.0Y

-800.0Y

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GRADE COMPARISON GRADE COMPARISON –– PG70 vs Bruce Channel DepositPG70 vs Bruce Channel Deposit (Results taken from final two Gold Eagle Releases)(Results taken from final two Gold Eagle Releases)

PG70 ZonePG70 Zone

**Bruce Channel DiscoveryBruce Channel Discovery(from first two holes drilled)(from first two holes drilled)

(highlights from final 8 holes drilled)(highlights from final 8 holes drilled)6.78 g/t Au over 3.0 m6.78 g/t Au over 3.0 m

13.13 g/t Au over 4.5 m 13.13 g/t Au over 4.5 m 23.70 g/t Au over 2.0 m 23.70 g/t Au over 2.0 m 17.07 g/t Au over 2.4 m17.07 g/t Au over 2.4 m10.34 g/t Au over 3.0 m10.34 g/t Au over 3.0 m

11.39 g/t Au over 6.9 m11.39 g/t Au over 6.9 m

(DEPTH OF INTERCEPTS)(DEPTH OF INTERCEPTS)

900 meters900 meters

1,375 1,375 -- +2,200 meters+2,200 meters

((* Gold Eagle * Gold Eagle -- July 16 & Aug. 12, 2008July 16 & Aug. 12, 2008))

PG70 ZONE DISCOVERYPG70 ZONE DISCOVERY

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WEST GRANODIORITE ZONEWEST GRANODIORITE ZONE

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Potential for large bulk-tonnage deposit (similar to Goldex) + 500,000 oz historic resource

WGZ

13L

20L

PG09068A1.5g/t Au –

75.0mIncl.

12.5g/t Au – 4.5m

100mLongitudinal Section

PG07005 – WGZ4.1g/t Au – 4.1m2.9g/t Au – 4.3m

Wilmar Gold Mine203,256 t mined @ 10.3g/t Au (Open)

PG07015W49.1g/t Au – 6.0m

Incl. 49.0g/t Au – 1.0 m

PG07018W65.2g/t Au – 2.8m

PG07018W114.2g/t Au – 5.0 m

Incl. 59.09g/t Au – 1.0m

OPEN

East Breccia ZoneMined grade 14g/t Au

PG090712.53g/t Au –

19.0m

WGZ – WIDE OPEN FOR EXPANSION

OPEN

PG09068A2.2g/t Au – 6.0m

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Wilmar Mine West Granodiorite Zone 13th level of test mine stope (1970’s).

Face grade approximately 2.88 g/t

Agnico-Eagle Mines-Goldex ore from the 8th level of the mine (2005). Face grade

approximately 2.1 g/t

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Defining a significant gold deposit

Test mining of WGZ suggests potentially higher grades than at Goldex

(Bulk tonnage & High-Grade Potential)

WEST GRANODIORITE ZONEWEST GRANODIORITE ZONE