Premium updates on Buffalo Gulch permitting

Premium Exploration, Inc. announces an update on the Buffalo Gulch permitting process.

Premium Exploration Inc.’s, joint venture partner (Elk City Mining, LLC) is making progress on permitting the Buffalo Gulch Mine and advancing the project to production.

Elk City Mining (ECM) held several public meetings near the project area to initiate the scoping process and inform the public and regulatory agencies of the project.

The Buffalo Gulch property is in the same geologic environment on the Orogrande Shear Zone as the Friday/Petsite property, which hosts a 531,000 oz Au inferred resource. The Buffalo Gulch target is located at the northern end of the Orogrande Shear Zone while Friday/Petsite is near the southern end of the 26 mile shear zone.

Core drilling on the Friday/Petsite property has returned grades averaging 9 g/t(0.289 troy ounce per ton) Au over a drill intercept of 70 feet (21.3 meters) including intercepts of five feet (1.5 meters) of 67.89 g/t Au (2.183 troy ounce per ton).

Buffalo Gulch is open along strike to the north and south as well as down dip.

The Company is planning deeper drilling at Buffalo Gulch below known mineralization to test a large, IP anomaly which is interpreted to represent mineralization similar to that found at Friday/Petsite.

Premium controls the north and south ends of the Orogrande Shear Zone.