Premium Exploration Inc.

FOR IMMEDIATE RELEASE

January 13, 2009

Premium Exploration Announces Stock Option Grant

VANCOUVER, BRITISH COLUMBIA (January 13, 2009) ? Premium Exploration, Inc. (TSX-V:PEM) (?Premium? or the ?Company?) is pleased to announce that it has granted 2,050,000 stock options to certain directors, officers and consultants of the Company.  The options are exercisable at a price of $0.15 for a period of five years.

About Premium Exploration, Inc.

Premium Exploration, Inc. is a unique precious metals explorer focused on Mexico and the USA.  Listed on the TSX Venture Exchange (TSX-V:PEM), Premium has assembled an innovative and successful management and advisory team, committed to maximizing shareholder exposure to precious metal discovery, the most profitable stage of exploration. Premium?s portfolio holds Gold, Silver and Platinum Group Metals projects in various stages of exploration, from grassroots to near production. http://www.premiumexploration.com/.

All prospective and current shareholders of Premium Exploration are invited to join the Company?s official investment forum exclusively at Pinnacle Digest: http://www.pinnacledigest.com/company/pem:ca. The forum allows for investor controlled discussion, questions and progressive feedback from other shareholders and investors. Third party reports on the company are also available at http://www.pinnacledigest.com./

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This press release contains certain ?Forward-Looking Statements? within the meaning of Section 21E of the United States Security Exchange Act of 1934, and involves a number of risks and uncertainties.  Important factors that could cause actual results to differ materially from the Company?s expectations are disclosed in the Company?s documents filed from time to time with the TSX Venture Exchange and the British Columbia Securities Commission.  All statements, other than of historical fact, included herein are forward-looking statements that involve various risks and uncertainties.  There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.  The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.