Phase-Four Exploration Program at Idaho Gold Project 

VANCOUVER, BC - Premium Exploration Inc. reported that two drills are turning at the company's 100% owned Idaho Gold Project located in the Central Idaho. Five zones of mineralization are known within the 30 km of potentially mineralized structure identified by geophysics, with less than 1% of the anomaly drill tested to date.

The primary focus of the Phase-Four drill program is to demonstrate the district size potential of the Idaho Gold Project by discovering and delineating new zones of mineralization: the Friday Zone currently hosts a resource of 343,000 Indicated and 879,000 oz Inferred ounces. In addition, the Buffalo Gulch, Deadwood, Monday, and X  Zones and the newly identified 15 km structure demonstrate the potential for additional deposits. Our goal is to ultimately develop a district with multiple near-surface gold resources along our +30 km property,stated Del Steiner, President & CEO. Our strategy of drilling structures identified by geophysics has led to 3 gold discoveries and significant resource development. With less than 1% of the geophysical anomalies on the property being systematically drilled to date. One drill is located at the Friday Zone where major step-out with some infill drilling is planned. The second drill is at the Buffalo Gulch Zone testing an extraordinary anomaly at depth identified by the IP geophysics. Two additional drills are contracted to arrive in June when the majority of the drill permits are anticipated to be received. Drilling will target numerous coincident geophysical and gold-in-soil anomalies along the Idaho Gold Project in an effort to discover and delineate new discoveries. Additional airborne geophysics reveals another 15 km geophysical anomaly potentially outlining 15 km of mineralized structure. Premium previously announced staking an additional 328 claims to control the priority zone when the 2010 soil sampling revealed coincident gold mineralization along 1.0 km of the structure and will be followed up with drilling in Phase-Four. The Phase-Four budget is currently $7.0M for the 25,000 meter program. Premium believes that sufficient resources are available to complete the Phase-Four drill program. The Friday-Petsite deposit hosts 343,000 Indicated oz Au (11.8 Mt @ 0.90 g/t Au with 0.5 g/t Au cut-off) and 879,000 Inferred oz (26.4 Mt @ 1.04 g/t Au with 0.5 g/t Au cut-off) and remains open. The Company has implemented a rigorous QA/QC program using best industry practices at the Friday-Petsite Property. The company's address is Suite 807, ?475 Howe Street , Vancouver, BC V6C 2B3, (604) 682-0243, fax: (604) 682-2499, email: [email protected].