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File: PREMIUM ANNOUNCE MINERAL LEASE final 042715.docx

PREMIUM ANNOUNCES MINERAL LEASE ON PORTION OF IDAHO PROPERTY

For release on April 27, 2015

Coeur d'Alene, Idaho: Premium Exploration, Inc. is pleased to announce that it has signed a mineral lease on a portion
---> of its extensive approximate 10,000 acres of land holdings in the OreGrande Shear Zone located in Central Idaho. The 
--->Lessee, TVL Gold, LLC, is a private company based in Dallas, Texas. 

Premium has signed a long term lease on approximately 2000 acres of mineral claims and leases covering the underground
---> high grade resources at the Friday Gold Property. The lease covers exploration and development of gold resources whic
--->h exceed a minimum of 6 grams/ton in average grade. Premium retains all rights on the remainder of the mineral invento
--->ry which would include most of the open pit resources. Internal company calculations (for estimation purposes only) wo
--->uld indicate that of the 1,237,000 ounces of all categories identified in the N.I. 43-101 report completed in February
--->, 2013, 176,000 ounces would be included under the new lease, and 1,061,000 ounces would remain with Premium. 

Terms of the lease called for an initial cash payment of $500,000 which has been received in full.  These funds have b
--->een used to pay accounts payable, primarily those owed to American Drilling, Inc., the drilling contractor which execu
--->ted the 2013-14 drill program of Premium.

The lease calls for the sum of $750,000 to be spent over the next year on work on qualified expenditures on the ground
---> at the Friday Deposit. Beginning the first quarter of 2016, and for four quarters the lease also calls for advance ro
--->yalty payments of $50,000. Thereafter, the lease calls for quarterly advance royalty payments of $25,000 until such ti
--->me as the deposit is placed in continuous production. The Company will receive a 2% Net Smelter Return Royalty on futu
--->re production.

Receipt of the funds will also allow the Company to pay its account payable stemming from last years audit with the ac
--->counting firm of Fruci & Associates ("Fruci") of Spokane, WA. This payment will allow Fruci to be independent with res
--->pect to issuance of the audit for the year end of 2014. However, the Company anticipates that the audit will not be co
--->mpleted in time for the April 30th filing deadline.  

In other news the Company wishes to announce the appointment of Ms. Donna Miller as the interim CFO of the Company. Ms
--->. Miller, has an extensive history of accounting and reporting with both TSX and USA listed securities. Ms. Miller is 
--->based in Spokane, WA in close proximity to the headquarters of the Company. The Company is pleased to have her onboard
--->.

Additionally, Mr. Ryan issued the following amplifying statement with respect to the recent departures of Mr. Grant Sm
--->ith and Ms. Lisa Maxwell, longtime CFO and Corporate Secretary respectively of the Company. 

"Myself and the Board would like to thank Mr. Smith and Ms. Maxwell for their extreme dedication and loyalty to the Co
--->mpany. During the very difficult market conditions of the last several years, both of these individuals repeatedly dem
--->onstrated an extraordinary dedication to the Company and its shareholders. The Board wishes them both the most extreme
---> successes in all of their future endeavors." 

About Premium Exploration Inc.

The Company's purpose is to efficiently and economically advance their district sized Idaho Gold Project. The Idaho Go
--->ld project contains three known deposits. The Friday deposit has an NI 43{‐ ‐}101 compliant resource of:
Indicated: 647,000 Au (20.1 MT @ 1.0 g/t Au with 0.45 g/t cut{‐ ‐}off)
Inferred: 590,000 Au (20.9 MT @ 0.88 g/t Au with 0.45 g/t cut{‐ ‐}off)
The Deadwood deposit and the Buffalo Gulch oxide deposit both have small historical gold resources and both are expand
--->able. 

Mr. James Baughman, a Qualified Person as defined by N.I. 43-101, has reviewed this press release and approves of its 
--->content.


For more information, please contact:

Mr. John Ryan | President & CEO
P: (208) 209-9868
Fax: (208) 209-9869
Cell: (843) 290-8930
E: silver4262@yahoo.com
 
 
This press release contains certain "Forward{‐ ‐}Looking Statements" within the meaning of Section 21E of the Un
--->ited States Security Exchange Act of 1934, and involves a number of risks and uncertainties. Important factors that co
--->uld cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents
---> filed from time to time under the Company's profile on www.sedar.com in accordance with the policies and requirements
---> of the TSX Venture Exchange and applicable securities law. All statements, other than of historical fact, included he
--->rein 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 thos
--->e anticipated in such statements. There are no assurances that the Company can fulfill such Forward{‐ ‐}Looking 
--->Statements and the Company undertakes no obligation to update such statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the 
--->TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.