For Release at 6:15 AM PST – April 7, 2008
Premium Exploration, Inc. Appoints New Independent Director and Announces Change in Management
VANCOUVER, BRITISH COLUMBIA (April 7, 2008) Premium Exploration, Inc. (TSX-V:PEM) (http://www.premiumexploration.com/) is pleased to announce the appointment of Mr. Salvador Huerta to its Board of Directors.
Mr. Huerta has significant international business and financial expertise in joint ventures and mergers and acquisitions. He has been the Controller for Mexican Operations with Aurcana Corporation (TSX-V:AUN) since 2007. He completed his university degree as a Certified Public Accountant in Mexico and has several professional post graduate courses from the Harvard Business School, the University of Hawaii and IPADE (Harvard Business campus in Mexico). Prior to his current position, he was Deputy President and CFO of companies in Mexico such as Timex, HJ Heinz, ALFA Group and Sanluis Rassini.
“We are pleased to welcome Salvador Huerta to our Board of Directors. His international experience will further enhance the strength of our Board and will be most valuable as we move our projects forward”, stated Mr. Del Steiner, President & CEO of Premium Exploration, Inc.
“I am very pleased with the opportunity to work with the Premium team and Board as we expand our business and property portfolio”, stated Mr. Huerta.
Mr. Huerta will be granted, subject to regulatory approval, an incentive stock option to acquire 150,000 shares of Premium Exploration, Inc. at a price of $0.33 per share, exercisable for five years under the Company’s Stock Option Plan.
The Company also announces the resignation of Nancy Reardon, in her current positions as VP Exploration, Chief Operations Officer and a Director of the Company. Ms. Reardon will join Premium’s Advisory Board along with Mr. J. Peter Davies and Mr. Robert Coale and will continue to consult with the Company on a project-by-project basis.
Mr. Steiner states, “We thank Nancy for her contribution over the past 19 months and look forward to working with her in her new roles in the future.”
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/.
Contact Information:
Brett Delaney / Christine Kopr
Investor Relations
(604) 682-0243
Email:
IR@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.