Mr. Morgan Lekstrom reports

PREMIUM ANNOUNCES INTENTION TO LIST ON THE NASDAQ AND PROVIDES DETAILS FOR UPCOMING ANNUAL GENERAL & SPECIAL MEETING

Premium Resources Ltd.'s 2025 annual general and special meeting of shareholders (AGSM) will be held in-person at 15th floor, 1111 West Hastings St., Vancouver, B.C., V6E 2J3, on Tuesday, June 3, 2025, at 10 a.m. PT. The notice of meeting, management information circular and form of proxy related to the AGSM have been mailed to shareholders and can be found on the company's website and on SEDAR+ under Premium Resources' issuer profile. Also, the company has applied to list its common shares on the Nasdaq Capital Market.

In connection with the proposed listing, the company will seek shareholder approval at the upcoming AGSM of, among other things, the consolidation of its common shares in order to satisfy Nasdaq initial listing requirements, which require a minimum bid price of $4 (U.S.) per share. As outlined in the management information circular, shareholders will be asked to approve a consolidation ratio of up to 1:20. If the consolidation is approved and effected by the company, the actual ratio chosen will be announced in a subsequent release following the AGSM. As of the record date for the AGSM, 428,986,474 common shares are issued and outstanding. Assuming the consolidation is completed on a 1:20 ratio and no other changes to the company's share capitalization prior to the record date for the consolidation, the number of common shares issued and outstanding will be approximately 21,449,323. The consolidation is subject to the approval of the TSX Venture Exchange.

"The decision to apply and uplist to the Nasdaq is a critical step in our growth strategy focusing on the critical-metals supply chain, while rapidly advancing the company. We intend to limit the required consolidation ratio and are confident in our new strategy and commitment to accelerate shareholder value," said Morgan Lekstrom, chief executive officer of Premium Resources.

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 resources mines owned by the company in Botswana.

Premium Resources is committed to governance through transparent accountability and open communication within its team and its stakeholders. The company's 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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