16 Jun 2014 15:51
For immediate release: 16 June 2014
Premier Gold Resources plc
("Premier Gold" or the "Company")
Response to press speculation
Premier Gold (AIM:PGR), the Central Asia-focused gold exploration and development company, notes recent press speculation regarding its efforts to resolve the local issues first described in the Company's announcement of 4 October 2013 and confirms that, as set out in recent announcements dated 2 June 2014 and 26 February 2014, the board is continuing to press its case with the Kyrgyz authorities such that the Company can safely resume its work programme at the Cholokkaindy licence in the Kyrgyz Republic.
The Company confirms that, among other potential remedies, it has issued a notice to the Government of the Kyrgyz Republic that it is considering claims for compensation. The Company notes speculation in the press that such claims may amount to approximately US$35 million and confirms that this is one of a number of possible outcomes. The Company stresses that at this stage it is a notice of claims and accordingly no legal action has yet been commenced.
The Company's preference remains to work cooperatively with the Kyrgyz Government in order to achieve a resolution of its local issues, such that the Company can safely resume operations in the field.
Further announcements will be made in due course as required.
Contacts:
Premier Gold Resources plc | |
Richard Nolan, CEO | 020 7078 9566 |
WH Ireland Limited (Nominated Adviser and Broker) | |
Katy Mitchell | 0113 394 6600 |
Vigo Communications | |
Ben Simons / Alex Aleksandrov | 020 7016 9570 |
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 located.
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 part of a large mineralising system, displaying several key indicators associated with other large gold deposits in the northern Tien Shan metallogenic belt.
For further information or to sign up to our email 'Alert Service' please visit:
www.premiergoldresources.com