Mr. John Ryan reports

PREMIUM ANNOUNCES $1.1 MILLION NON-BROKERED PRIVATE PLACEMENT

Premium Exploration Inc., further to a price reservation form filed with the TSX Venture Exchange on Oct. 8, 2013, has arranged a non-brokered private placement for up to 22 million units of the company to raise gross proceeds of $1.1-million at a price of five cents per unit. Each unit is composed of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire an additional share of the company at a price of 15 cents per share for a period of three years from the date of issuance. In connection with the private placement, the company will issue cash finders' fees of 9 per cent and 9 per cent in finders' warrants, at an exercise price of 15 cents for a period of three years, for units placed by qualified individuals. The units and finders' warrants issued under the private placement will be subject to a four-month hold period from the date of issuance, and the private placement is subject to final acceptance from the TSX Venture Exchange. The net proceeds of the private placement will be for the advancement of the company's Idaho gold project and for additional working capital.