FOR IMMEDIATE RELEASE APRIL 24, 2007
VANCOUVER, BRITISH COLUMBIA (April 24, 2007) Premium Exploration, Inc. (TSX-V:PEM) (http://www.premiumexploration.com/) is pleased to announce that it has retained the services of The Richmond Club Corp. (“Richmond Club”) of Toronto, Ontario, Canada, William McCarty Consultants (“WMC”) of San Francisco, California, USA, and FineLine Expertise (“FLE”) of Geneva, Switzerland to provide marketing services for the Company, subject to TSX Venture Exchange approval.
The Richmond Club is a media company that showcases three to four companies that it feels, have an excellent chance of out-performing the market over a one to two year period. The companies are showcased to the Richmond Club’s 612 members, through its website and at investor luncheon meetings. Monthly luncheon meetings are held in Toronto at the National Club, at Bay & King Street and are free of charge to brokers, fund managers, analysts and high net-worth investors. Premium’s first luncheon presentation is scheduled for May 9th. The Richmond Club will receive a monthly fee of CDN$1,450 and will be granted 130,000 stock options vesting within 30 days from the date of this press release at an exercise price of $0.35 per share. The term of the options is three years from the date of this release. The term of the marketing contract with the Richmond Club is one year.
William McCarty Consultants is a San Francisco based strategic planning and marketing services firm. Mr. McCarty and his associates have been in the marketing business for many years and specialize in the mining sector. WMC will receive a monthly fee of USD$1,000 and will be granted 300,000 stock options vesting within 30 days from the date of this press release at an exercise price of $0.40 per share. The term of the options is five years from the date of this release. The term of the contract with WMC is one year.
Mr. Blair Shilleto of FineLine Expertise provides introductions to European institutions in Switzerland, Germany and England and will organize meetings for the Company in Europe as required. FLE will be granted 200,000 stock options at an exercise price $0.30 per share. The term of the options is five years from the date of this press release. The term of the contract with FLE is one year.
About Premium Exploration, Inc.:
Premium Exploration, Inc. is a precious metals exploration company focused on exploration in North America. The Company is listed on the TSX Venture Exchange and has assembled an innovative and experienced management and advisory team who are committed to the long-term success of the Company. 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, the company’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, the company is able to maximize the potential for discovery while mitigating risk and increasing shareholder value. More information can be found on our website at http://www.premiumexploration.com/.
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Current Projects |
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Project |
Location |
Commodity |
Land Position |
Mineralization |
Snapshot |
| Chrome Mountain | Montana, USA | PGM – Pt,Pd,Rh | 970 hectares
(2,397 acres) 100% owned |
Platinum, palladium and rhodium within chromitite layers of the Stillwater Complex | Within the Stillwater Complex., host to the only producing primary platinum and palladium mine in the USA. Strategic Exploration Alliance with Beartooth Platinum. 1,100 soil assays pending. |
| Nueva Galicia | Nayarit, México | Ag/Au | 17,000 hectares
(42,000 acres) Option to earn 100% |
High grade epithermal vein systems and breccias. | Epithermal vein systems aligned along a structural corridor over a distance of 10 km (6 mi.). Three parallel vein systems have been mapped in detail for a total of 4500 meters to date – the target of Phase I drill program scheduled for mid-May. |
| San Pedro Analco | Jalisco, México | Ag/Au/Zn | 1,136 hectares
(2,800 acres) Option to earn 100% |
High-grade, epithermal vein systems and breccias | Phase I exploration program the following highlights:
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| Dos Amigos | Nayarit, México | Ag/Au/Cu/Zn/Pb | 3,230 hectares
(7,985 acres) Option to earn 100% |
Veins and bulk-tonnage gold/silver | Select grab sample returned 8.3 g/t gold and 15,276 g/t (445 oz./ton) silver as well as 7.2% copper, 4.5% lead and 17.2% zinc |
| Rosamorada | Nayarit, México | Au/Ag | 300 hectares
(740 acres) Option to earn 100% |
Veins and bulk-tonnage gold/silver | Preliminary results pending. |
Contact Information:
Ms. Lisa Maxwell
VP, Corporate Development
Premium Exploration, Inc.
(604) 682-0243
Email:
lmaxwell@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 files 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. Information contained in this news release includes information about adjacent properties on which we have no right to explore or mine. We advise investors in the United States that the SEC’s mining guidelines strictly prohibit information of this type in documents filed with the SEC. United States investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.