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File: PEM Buff Gulch final.docx

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PREMIUM EXPLORATION ANNOUNCES  REVIEW OF BUFFALO GULCH RESOURCE 
AND POTENTIAL FOR HIGH GRADE  

Coeur d'Alene, Idaho.  April 28, 2015 - Premium Exploration Inc. (TSX-V: PEM; OTC Pink Current: PMMEF) ("Premium" or t
--->he "Company") announces that it has recently completed an internal company review of the Buffalo Gulch mineral resourc
--->e. 

The Buffalo Gulch Project sits at the very northern end of the approximate 10 mile Oro Grande shear zone being explore
--->d by the Company. The Buffalo Gulch Project has been explored and evaluated in the past as an oxide resource with reco
--->very via heap leach and a conventional CIL circuit. Past metallurgical testing has resulted in 90% plus predicted gold
---> recoveries with agglomeration. 

In the past the Company has from time to time released information regarding the Buffalo Gulch deposit based on readil
--->y available historical data that is in the possession of the Company. The latest evaluation was completed by Chief Geo
--->logist James Baughman with the assistance of a contracted mineral resource estimation specialist based in Denver, CO. 
--->and confirms the historical estimates of the past work that was completed by Bema Gold and others.

The Company is also reevaluating Buffalo Gulch as a high-grade project, especially in light of the drilling success co
--->mpleted at the Friday Gold Deposit, roughly ten miles to the south. Recently the Company has leased the Friday high-gr
--->ade resource to privately held TVL Gold LLC. It is the understanding of the Company that TVL plans further exploration
---> and development of the project this upcoming year in accordance with their work commitment.

Structural controls of mineralization for high-grade resources are now better understood as a result of the work compl
--->eted throughout 2014-15 and the new data provided by the drill program of last winter. Average depth of the past drill
--->ing at Buffalo Gulch was approximately 170 feet. The postulated high-grade feeder structures at Buffalo Gulch would be
---> located at in excess of 500 feet. Thus the possible higher grade feeder structures have not been tested by past drill
--->ing.

Additionally there are untested IP chargeability anomalies located over the Buffalo Gulch resource which remain untest
--->ed. These IP anomalies would indicate a deeper sulfide mineralization zone which is indicative of a higher grade gold-
--->pyrite system analogous to that discovered at the Friday high grade area.

Commented James Baughman, Chief Geologist, "Regional structural control in this district begins with the formation of 
--->an orogenic deep seated low sulfidation gold system with carbonate/mica alteration with few quartz veins.  There was a
---> later barren northwest trending quartz vein system that is evident in the district.  The lack of a gold rich quartz r
--->eef was a problem for historical prospectors and miners as outcropping quartz was a marker for their exploration effor
--->ts.  Finally, Eocene dacite dikes intruded the shear zone along high grade gold shears and is an important marker for 
--->delineating and understanding the bonanza zones." 

Commented John Ryan, CEO of Premium, "We are excited to continue to evaluate the Buffalo Gulch as an oxide heap leach 
--->AND as a possible high grade prospect. We are also continuing our work in understanding the ore controls on the high g
--->rade potential as we believe that there is very substantial potential for multiple high-grade mines to be developed in
---> the Elk City District. Our superior land package focused on the heart of the main north-south shear zone puts the Com
--->pany in an ideal place to explore and develop this future gold potential".

In other news the Company would like to clarify that with respect to its news release as of April 27, 2015 announcing 
--->the lease on the Friday Project, all dollar amounts mentioned in the release are in U.S. dollars.

About Premium Exploration Inc.

The Company's purpose is to efficiently and economically advance their district sized Idaho Gold Project.  The Idaho G
--->old project contains three known deposits. The Friday deposit has an NI 43-101 compliant resource of:

National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") technical report dated effective
---> February 19, 2013 entitled "Technical  Report,  Idaho  Gold  Project,  Idaho  County,  Idaho,  USA"  (the  "Report") 
---> on  SEDAR  at www.sedar.com. The Report is with respect to the mineral resource estimate at the Idaho Gold Project, l
--->ocated in north-central Idaho. The resource estimate was announced in Premium's April 11, 2013 news release.

The updated resource estimate at a 0.45 g/t Au cut-off increases the Friday deposit to:

{ } Indicated: 647,000 oz (20.1 Mt @ 1.0 g/t Au) from 629,000 oz (21.5 MT @ 0.91 g/t Au & 0.4 g/t cut-off)

{ } Inferred: 590,000 oz (20.9 Mt @ 0.88 g/t Au) from 146,000 oz (5.9 MT @ 0.77 g/t Au & 0.4 g/t cut-off)


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
Phone: (208) 209-9868
Cell: (843) 290-8930
Fax: (208) 209-9869
E: premiumexplorationusa@gmail.com

This press release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United State
--->s Security Exchange Act of 1934, and involves a number of risks and uncertainties.  Important factors that could cause
---> actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed fr
--->om time to time under the Company's profile on www.sedar.com in accordance with the policies and requirements of the T
--->SX Venture Exchange and applicable securities law.  All statements, other than of historical fact, included herein are
---> forward-looking statements that involve various risks and uncertainties.  There can be no assurance that such stateme
--->nts will prove to be accurate, and actual results and future events could differ materially from those 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. 

This news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ 
--->materially. Except as required pursuant to applicable securities laws, the Company will not update these forward-looki
--->ng statements to reflect events or circumstances after the date hereof. More detailed information about potential fact
--->ors that could affect financial results is included in the documents filed from time to time with the Canadian securit
--->ies regulatory authorities by the Company.

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