FOR IMMEDIATE RELEASE OCTOBER 25, 2007
PREMIUM EXPLORATION ANNOUNCES GRANT OF STOCK OPTIONS
VANCOUVER, BRITISH COLUMBIA (Marketwire – October 25, 2007) – Premium Exploration, Inc. (TSX-V:PEM) (“Premium” or the “Company”) is pleased to announce that it has granted 1,400,000 stock options to certain directors, officers and consultants. The options are exercisable at a price of $0.35 for five years.
About Premium Exploration, Inc.
Premium Exploration, Inc. is a precious metals exploration company focused on exploration in North America, with an acquisitions focus on Mexico. Premium’s goal is to discover precious metal deposits that are strategically located in areas that would allow their profitable extraction, with minimal political, social or environmental risks. Current holdings are in Mexico and the USA. To maximize the possibility of realizing this goal, Premium’s exploration team continues to review early-stage projects located within under-explored precious metal belts that host multi-million ounce deposits. By acquiring prospects internally and financing some of them through joint venture partners, Premium is able to maximize the potential for discovery while mitigating risk and increasing shareholder value. Additional information may be found on our website at http://www.premiumexploration.com/.
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Premium Exploration’s Projects |
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Project |
Location |
Commodity |
Land Position |
Targets |
Highlights |
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Chrome Mountain |
Montana USA |
Pt-Pd-Rh
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970 hectares (2,397 acres) 100% owned |
Platinum, palladium and rhodium within chromitite layers of the Stillwater Complex & shear-hosted gold and PGM | One km from producing platinum and palladium mine. Drilling underway funded by US$5,000,000 joint venture with Beartooth Platinum. |
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Nueva Galicia |
Nayarit México |
Au-Ag |
18,125 hectares (44,780 acres) Option to earn 100% |
High grade veins and breccias. | Over four km of veins mapped to date. Phase I 2000 meter drill program underway. Initial results:
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San Pedro Analco |
Jalisco México |
Ag |
1,136 hectares (2,800 acres) Option to earn 100% |
High-grade veins and bulk-tonnage breccias | Phase I exploration highlights:
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Dos Amigos |
Nayarit México |
Au-Ag |
3,230 hectares (7,985 acres) Option to earn 100% |
Veins and bulk-tonnage gold/silver | Quartz stockwork mapped over 500m x 400m |
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Rosamorada |
Nayarit México |
Au-Ag |
300 hectares (740 acres) Option to earn 100% |
Bulk-tonnage gold/silver | Quartz stockwork mapped over 1000m x 300m |
Contact Information:
Premium Exploration, Inc.
Brett Delaney / Christine Kopr
Investor Relations
(604) 682-0243
Email:
info@premiumexploration.com
This press release contains certain “Forward-Looking Statements” within the meaning of Section 21E of the United States Security Exchange Act of 1934, and involve 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.