Mr. John Ryan reports

PREMIUM EXPLORATION INTERCEPTS 286.67 METERS (940.51 FEET) OF 0.73 G/T GOLD, INCLUDING 11.67 METERS (38.29 FEET) OF 2.37 G/T IDAHO GOLD PROJECT

Premium Exploration Inc. has released further assay results from drilling the deep zone at the Friday gold deposit in Idaho county, Idaho. The drill hole was a vertical step-out hole aimed at drilling both the upper and lower gold zones at the Friday deposit. The drill hole encountered a long interval of gold mineralization -- 286.67 metres (940.51 feet) with a weighted average of 0.73 gram per tonne gold. Within this zone were numerous intervals of higher grade gold mineralization, the highest being 1.37 metres (4.5 feet) of 14.35 grams per tonne gold at 229.67 metres (753.5 feet).

The current drilling is now focused on the upper high-grade zone, and there are numerous upper-zone drill holes with assays pending. All of the current drilling is being done to support a preliminary economic study of the high-grade portions within the Friday deposit and is designed to extend the high-grade mineralization found in drill holes detailed in previous press releases.

Highlights include:

• PFR20014_1 -- 14.35 grams per tonne gold over 1.37 metres (4.49 feet);
• 13.6 grams per tonne gold over 1.22 metres (3.28 feet);
• 2.67 grams per tonne gold over 11.67 metres (38.29 feet).

The continuing drill program consists of a total of 14 HQ core holes, and complete assay results have now been received for the first three drill holes: PFR2013_1, PFR2013_2 and PFR2014_1. Drill hole PFR2014_11 is now being drilled.

Drill hole PFR2014_1 was drilled 15 metres north of PFR2009_10 and intercepted the strongest mineralization at approximately 17 metres due to drill-hole deflection. A zone of 36 metres (785 feet to 904 feet) encountered strongly silicified, clast-supported breccia rimmed with pyrite. A suite of metallic screens will be completed on the high-grade intercepts, as well as a selected grade range, to better understand gold distribution. Approximately 50 samples will have metallurgical testing work performed in the near future to further the company's understanding of the high-grade zone.

Drill hole      From       To  Interval     Interval      Au  
                  (m)      (m)       (m)       (feet)   (g/t)

PFR2014_1      60.96   347.63    286.67       940.50   0.728 
              152.47   160.02      7.62        25.00    2.50   
              229.67   241.61     11.67        38.29    2.67  
              229.67   276.61     46.94       154.00    1.52  
              251.52   276.61     25.09        82.32    1.48   
              289.56   291.85      2.29         7.51    2.34  
              336.05   338.33      2.28         7.48    1.52  
              354.34   347.63      2.29         7.51    1.76 
Notes:
The gold-grade calculation is a weighted mean with no top 
cut and no bottom cut. The grade calculation includes 
internal waste and low-grade sections.
True widths are estimated to be between 65 per cent and 
75 per cent of the drilled interval.

Quality assurance

The company has implemented a rigorous quality assurance/quality control program using best industry practices at the Friday-Petsite property. The program includes security of samples, and drill core sawn in half and shipped in sealed bags, blind duplicates, blank samples and certified standards are inserted into the sample stream. The samples are then boxed and freighted to ALS Chemex Labs in Elko, Nev., a lab certified for the provision of assays and geochemical analyses (ISO 9001:2008). Samples with gold values greater than 10 grams per tonne were reanalyzed via the metallic screen procedure. Samples with visible gold were also analyzed initially using the metallic screen analysis, as were the samples immediately preceding and following the sample with visible gold.

Qualified person

The 2013/2014 exploration program is directed by James Baughman, chief geologist of Premium Exploration, who is a qualified person as defined by National Instrument 43-101. Mr. Baughman prepared and approves of the content of this release.

Toronto Prospectors and Developers Association of Canada convention

Premium Exploration will be at the PDAC core shack on March 4, 2014, and March 5, 2014, in conjunction with the PDAC convention. Core samples from the current round of drilling will be on display.

We seek Safe Harbor.