Premium Exploration Inc.

Bars of precious metals

Premium Exploration Appoints New Management

January 17, 2007

For Immediate Release January 17, 2007

VANCOUVER, BRITISH COLUMBIA–(CCN Matthews-January 17, 2007) Premium Exploration Inc. (TSX-V:PEM) (“Premium”) (www.premiumexploration.com) has appointed Vanessa Bachman as Chief Financial Officer, Nancy Reardon as Vice-President, Exploration, Lisa Maxwell as Vice-President, Corporate Development and Brent McNiven as Exploration Manager , Mexico.

Del Steiner, president and chief executive officer of the company, states: “I am pleased and honoured to announce the appointment of each of these exceptional individuals to our management team. Premium is expanding and growing significantly, and each of these individuals will be key to our future success and have added significant capacity to the company’s ability to be the leading prospect generator in the junior exploration market.”

Presented below are short biographies on each of Premium’s new management team members:

Vanessa Bachman, Chief Financial Officer:

Mrs. Bachman holds a BS in accounting from the University of Idaho. She has worked as the company’s corporate secretary since March, 2006. Mrs. Bachman has over 10 years of accounting, finance and audit experience in the junior exploration, insurance and non-profit sectors. Previously, Mrs. Bachman worked with Beartooth Platinum Corporation as the company’s corporate secretary and accountant.

Nancy Reardon, Vice-President, Exploration:

Ms. Reardon has taken on the duties of vice-president exploration, along with her current positions as chief operating officer and director of Premium Exploration. Ms. Reardon has over 18 years experience in mineral exploration in Canada, Mexico, Central America and South America for both precious metal and base metal deposits. She is fluent in French and Spanish. Ms. Reardon has held management positions such as exploration manager — Mexico for Radius Gold Inc., manager of geological services for SAMEX Mining Corp. and vice-president of Atna Resources Ltd., and has operated her own geological consulting firm, Great Bear Geological Services, Inc., since 1994. She holds an MSc in geology and is a member of the Association of Professional Engineers, Geologists & Geophysicists of Alberta and a fellow of the Society of Economic Geologists.

Lisa Maxwell, Vice-President, Corporate Development:

Ms. Maxwell has worked as a consultant in corporate communications and marketing on an international basis for the past eleven years. Her experience includes public consultation for large-scale projects, the development and implementation of websites, media and marketing plans for small to mid-size companies.

Brent McNiven, Exploration Manager, Mexico:

Mr. McNiven holds a master’s degree in project management from Athabasca University. He lived for over 10 years in Latin American countries and is fluent in Spanish. His mineral exploration project experience has taken him to over 15 countries.