NEXM.V · 2025-04-10 12:00:00

Premium Resources High Impact Six Month Strategy Including Deep Drilling at Selebi

Exploration Programs

Premium Resources High Impact Six Month

Strategy Including Deep Drilling at Selebi

Toronto, Ontario--(Newsfile Corp. - April 10, 2025) -

Premium Resources Ltd. (TSXV: PREM) (OTC

Pink: PRMLF) (

PREM

" or the "

Company

") is pleased to announce an exciting new strategic direction

aimed at rapidly demonstrating the size potential of the Selebi North and Selebi Main deposits (together

the "

Selebi Mine

").

The Company will aggressively execute a carefully designed exploration drilling

program at the Selebi Mine while concurrently finalizing metallurgical work to identify the optimal mineral

processing method for future production. In addition, the Company will advance the Selkirk Mine through

low-cost initiatives and evaluate strategic opportunities to enhance its value.

Over the next six months, we will focus on the following key strategies:

Exploration and Development

Selebi Main Surface Drilling Program to Target a Potential 3

Horizon -

The Company has

commenced a surface exploration drill program, initially by extending historic drill holes, to target a

large Borehole Electromagnetic ("

BHEM

") plate that could represent a new mineralized horizon

150 metres beneath the Selebi Main resource.

Hinge Drilling Between Selebi Mine Deposits -

Surface drilling program targeting BHEM plates

in the untested 2 kilometre long area between the Selebi North and Selebi Main deposits referred

to as the hinge. These BHEM targets are situated down-dip and down-plunge of the Selebi Main

resource and potentially represent additional mineralization between the two deposits.

Selebi North Underground Resource Expansion Drilling -

Exploring along strike, down-dip

and down-plunge of the Mineral Resource Estimate ("

MRE

") footprint. Targeting resource

expansion and focus on areas with strong BHEM response from the N3, N2 and South Limbs.

Selebi Mine Underground Development -

Development of a dual-purpose exploration drift from

Selebi North is set to commence soon. This will permit both in-fill drilling and exploration drilling at

Selebi North and Selebi Main.

Selkirk -

Surface drilling program for resource expansion and metallurgical flowsheet

development. The drill core from this program will also be used for preliminary XRT pre

concentration testing.

The Company will also continue a resampling program of historic drill core

that will target both resource expansion and reclassification in an updated MRE.

Advancing Project Economics

Metallurgical sampling and testing

- Selebi flotation studies ongoing.

Evaluating XRT ("X-ray Transmission") ore sorting

- potential to have significant impact on

waste rock removal which in turn positively impacts the head feed grade to the concentrate

flowsheet, with potential application at both Selebi and Selkirk.

Evaluating IDEON Technologies Inc.

- for applying Muon Tomography to create 3D density

maps of subsurface mineralization at Selebi and Selkirk.

Morgan Lekstrom, CEO of Premium Resources commented:

"We are embarking on an

accelerated growth curve that will not only highlight the scale of Selebi and the significance of the hinge

zone but also address key metallurgical questions.

The Company is taking a very methodical approach

to demonstrating resource potential while actively advancing on strategic initiatives that will position

PREM as a significant player in the critical metals space.

Each strategic initiative will be supported by

dedicated updates to ensure stakeholders are consistently informed of our progress. The high-grade

nature of Selebi, its substantial size, our upcoming drilling and the planned metallurgical work are all

critical coinciding steps in the larger vision of potentially building a world class, generational critical

metals project."

Exploration Drilling Selebi Mine

The Company has outlined a multi-faceted exploration strategy aimed at expanding the mineral resource

potential at the Selebi Mine (see figure 1). One drill is active on surface at Selebi Main and one drill is

active underground at Selebi North. Three additional drills will be mobilized to support the hinge drilling

program.

The

Selebi North Underground Resource Expansion Drilling

will include one drill targeting the

BHEM plates located down-dip, and down-plunge from the N3, N2, and South Limbs. The Company

initially intends to drill approximately 2,525 metres in 4 holes over a period of 6 to 8 weeks and will

continue drilling through the remainder of the year (see figure 2).

Additionally, the Company has implemented a surface drilling program at

Selebi Main

to investigate the

potential of a third parallel mineralized horizon beneath the two known zones. This program will consist of

200 metre extensions of three previously drilled drill holes and will target a large BHEM plate identified

approximately 150 metres below the current Selebi Main resource. If successful, this program could lead

to the discovery of a new mineralized horizon, which could significantly enhance the project's resource

base. The Company intends to drill approximately 765 metres in 3 hole extensions over a period of 6

weeks (see figure 3).

Lastly, the

Hinge Drilling Between Selebi Mine Deposits

offers a strategic opportunity for substantial

resource expansion. Drilling will target large BHEM plates located off the Selebi Main mine horizon and

toward the Selebi North deposit.

The Company intends to pre-collar the holes to a depth of up to 1200

metres and bring in a more powerful drill to extend these holes to final target depths. These holes will

target a series of previously untested BHEM plates located down-plunge and down-dip of the Selebi

Main resource. Drilling will consist of approximately 12,500 metres in 6 holes over an estimated period

of 7 months (see figure 4).

At Selebi North, the Company will continue to report on the remaining outstanding assays from the 2023-

2024 in-fill drill program. Results from a total of 33,963 metres over 80 holes were not included in the

MRE with an effective date of June 30, 2024. Supplementary infill drilling has been strategically moved

into later work programs.

Underground Development

Our in-house development crew is supporting the underground drill program at Selebi North through the

development of an exploration drift and drill bays.

Selkirk Exploration Plan

At Selkirk, the ongoing re-sampling program will support an updated MRE through systematic analyses

of Platinum Group Elements ("

PGE

") to augment the patchwork of PGE analyses in the historic

database. Drilling will also support an updated MRE through twinning of historic holes and in-filling of

identified gaps. Drilling of HQ sized holes will facilitate the collection of metallurgical samples for

flowsheet development and XRT ore sorting (see figure 5).

IDEON Technologies Inc.

PREM is evaluating the application of Muon Tomography for subsurface mapping of density contrasts

that could represent areas of additional mineralization at both Selebi and Selkirk Mines.

Qualified Person

The scientific and technical content of this news release has been reviewed and approved by Sharon

Taylor, Vice President Exploration of the Company, who is a "qualified person" for the purposes of

National Instrument 43-101.

About Premium Resources Ltd.

PREM is a mineral exploration and development company that is focused on the redevelopment of the

previously producing nickel, copper and cobalt resources mines owned by the Company in the Republic

of Botswana.

For further information about Premium Resources Ltd., please contact:

Morgan Lekstrom

CEO and Director

[email protected]

Jaclyn Ruptash

V.P., Communications and Investor Relations

+1 (604) 770-4334

[email protected]

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of applicable Canadian

securities legislation based on expectations, estimates and projections as at the date of this news

release. Forward-Looking information involves risks, uncertainties and other factors that could cause

actual events, results, performance, prospects and opportunities to differ materially from those

expressed or implied by such forward-looking information. For the purposes of this release, forward-

looking information includes, but is not limited to: proposed drilling at the Selebi Mine and the Selkirk

Mine (the "

Mines

"); the implementation of the objectives, goals and future plans of the Company

including the proposed advancement of the Mines as currently contemplated; the ability of exploration

activities (including drill results) to accurately predict and demonstrate the size of mineralization and

identify new mineralized horizons; management's belief that the Selebi Main and Selebi North

deposits may be connected at depth; the anticipated results of proposed metallurgical work, including

the identification of optimal mineral processing methods; the proposed development of a dual-

purpose exploration drift from Selebi North and the timing thereof; the potential of XRT ore sorting to

have a significant impact on waste rock removal and the potential application of XRT at the Mines; the

ability of the Company to implement its drilling, geoscience and metallurgical work on its properties

and work plans generally; the implementation of the objectives, goals and future plans of the

Company including the proposed advancement of the Mines as currently contemplated; the ability of

the Company to define additional or upgrade the existing MREs on the Mines in accordance with

National Instrument 43-101; the productivity rates for underground drilling at the Mines; the effective

targeting activities proposed by the Company; the ability and timing of advancing the underground

drilling program at the Mine as contemplated (if at all); the relationships between, and continuity of,

the various deposits (if any); the benefits of the Company's approach to exploration; management's

belief that historical drill results could be indicative of the presence of mineralization on the deposits;

the anticipated benefits of the Company's approach to the resource development plan; and the

Company's advancement on strategic initiatives.

These forward-looking statements, by their nature, require the Company to make certain assumptions

and necessarily involve known and unknown risks and uncertainties that could cause actual results to

differ materially from those expressed or implied in these forward-looking statements. Factors that

could cause actual results to differ materially from such forward-looking information include, but are

not limited to, capital and operating costs varying significantly from estimates; the preliminary nature

of metallurgical test results; the ability of exploration results to predict mineralization, prefeasibility or

the feasibility of mine production; operational delays in the completion of the proposed exploration

and metallurgical programs described in this news release; delays in obtaining or failures to obtain

required governmental, environmental or other project approvals; uncertainties relating to the

availability and costs of financing needed in the future; the risk that the Company will not be able to

advance on strategic initiatives; changes in equity markets; inflation; fluctuations in commodity prices;

delays in the development of projects; the other risks involved in the mineral exploration and

development industry; and those risks set out in the Company's public disclosure record on SEDAR+

(

www.sedarplus.ca

) under the Company's issuer profile. Although the Company believes that the

assumptions and factors used in preparing the forward-looking information in this news release are

reasonable, undue reliance should not be placed on such information, which only applies as of the

date of this news release, and no assurance can be given that such events will occur in the disclosed

time frames or at all. The Company disclaims any intention or obligation to update or revise any

forward-looking information, whether as a result of new information, future events or otherwise, other

than as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined

in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or

accuracy of this news release. No stock exchange, securities commission or other regulatory

authority has approved or disapproved the information contained herein.

https://x.com/prem_resources

LinkedIn:

https://www.linkedin.com/company/Premium-Resources

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Figure One:

Selebi Mine Comprehensive Planned Exploration Drilling