For Release July 28, 2008
Premium Exploration Announces $1,000,000 Private Placement
VANCOUVER, BRITISH COLUMBIA (July 28, 2008) Premium Exploration, Inc. (TSX-V:PEM) (the ?Company?) (http://www.premiumexploration.com/) is pleased to announce that it intends to raise up to $1,000,000 through a private placement of 3,334,000 (the ?Units?) at $0.30 per Unit. Each Unit will consist of one common share (a ?Share?) and one non-transferable Warrant (a ?Warrant?). Each Warrant will be exercisable for a period of two years at an exercise price of $0.50 in the first year and $0.75 in the second year.
The funds raised will include up to 10% finder?s fees in cash or shares. The proceeds from the private placement will be used for production permitting on Buffalo Gulch, exploration drilling, property evaluations, acquisitions and staking.
The proposed private placement is subject to TSX Venture Exchange acceptance.
About Premium Exploration, Inc.
Premium Exploration, Inc. is a precious metals exploration company focused on prospect generation, evaluation and exploration in North America. Listed on the TSX Venture Exchange (TSX-V:PEM), Premium has assembled an innovative and experienced management and advisory team who are committed to the long-term success of the Company. Premium is focused on evaluating, acquiring and advancing projects. Our 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. For additional information on the Company, please visit us at 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./
Contact Information:
Christine Kopr
Corporate Communications
(604) 682-0243
Email: ckopr@premiumexploration.com
CAUTIONARY STATEMENT
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release includes certain “forward-looking statements”. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Premium, 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 results to differ materially from Premium’s plans and expectations as detailed herein and from time to time in the filings made by Premium with the TSX Venture Exchange and securities regulators. Premium does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.