Ms. Jaclyn Ruptash reports

PREMIUM RESOURCES FILES NI 43-101 TECHNICAL REPORT: INITIAL MINERAL RESOURCE ESTIMATE OF 44.2 MT FOR THE SELKIRK MINE IN BOTSWANA

Premium Resources Ltd. has filed an initial mineral resource estimate (MRE) titled "NI 43-101 Technical Report Selkirk Nickel Project, North East District, Republic of Botswana" and dated Jan. 8, 2025 (with an effective date of Nov. 1, 2024), on its past-producing nickel-copper-platinum group elements sulphide (Ni-Cu-PGE) Selkirk deposit in Botswana (the Selkirk m\ine).

There are no material differences between the technical report and the information presented in this news release, and the results disclosed in the company's news release dated Nov. 27, 2024, titled "Premium Resources Announces Initial Mineral Resource Estimate of 44.2 MT for the Selkirk Mine in Botswana."

The technical report has been prepared by SLR Consulting (Canada) Ltd. in accordance with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects and is available electronically on the company's website and on SEDAR+ under Premium's issuer profile.

Qualified persons

The initial MRE described in this news release was reviewed and approved by Valerie Wilson, MSc, PGeo (Ontario), SLR Consulting Ltd. principal resource geologist, who is independent of Premium and a qualified person for purposes of NI 43-101.

Verification included a site visit to inspect historical mineralized core, explore the gossanous outcrop at surface, observe existing infrastructure, including the Selkirk underground ramp and inspect several surface drill hole collar locations. In addition, all of the samples collected by Premium have been verified against independently accessed assay certificates and a random selection of historical database results have been compared against digital records.

The scientific and technical content of this news release has been reviewed and approved by Sharon Taylor, vice-president of exploration of the company, who is a qualified person for the purposes of NI 43-101.

Technical report

The MRE on the Selkirk mine is supported by the technical report. Reference should be made to the full text of the technical report for the assumptions, qualifications and limitations set forth therein, a copy of which is available on SEDAR+ under Premium's issuer profile.

About Premium Resources Ltd.

Premium Resources is a mineral exploration and development company that is focused on the redevelopment of the previously producing nickel, copper and cobalt resource mines owned by the company in the Republic of Botswana.

Premium Resources is committed to governance through transparent accountability and open communication within its team and stakeholders. Its skilled team has worked over 100 projects collectively, accumulating over 400 years of resource discoveries, mine development and mine re-engineering experience on projects like the company's Selebi and Selkirk mines. Premium Resources' senior team members have on average more than 20 years of experience in every single aspect of mine discovery and development, from geology to operations.

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