Mr. Morgan Lekstrom reports

PREMIUM DRILLING EXTENDS MINERALIZATION 315 METRES BELOW RESOURCE AREA DEMONSTRATING SCALED EXPANSION AT THE SELEBI PROJECT

Premium Resources Ltd. has provided an update on another successful intercept of mineralization at Selebi North Underground (SNUG) targeting downplunge expansion beyond the resource model.

Key highlights:

• SNUG-25-186 intersected South Limb mineralization over 16.20 metres at a distance of 132 metres downplunge of previously announced drill hole SNUG-25-184. Borehole electromagnetic (BHEM) results indicate that a thicker interval of mineralization lies immediately to the northwest of drill hole SNUG-25-186.
• Drill holes SNUG-25-186 and SNUG-25-184 have together extended the South Limb mineralization 315 metres downplunge from the lower extent of the 2024 resource model.
• The next drill hole is under way to define strike extent of the downplunge extension.

Morgan Lekstrom, chief executive officer of Premium Resources, commented: "The significant stepouts and ongoing expansion that we are achieving in the time frame clearly illustrates that this deposit expands well beyond the boundaries of the current resource area. Given the strong grades in our existing resource well over 3 per cent copper equivalent, each successful stepout highlights the potential that was previously undefined. Our use of BHEM and our deep understanding of the technology has enabled us to target and drill these stepdowns with a high degree of precision. While the current resource has a downplunge extent of 965 metres, our drilling has intercepted more massive sulphides (host to the copper, nickel and cobalt) and extended the deposit by approximately 315 metres. We have several exciting initiatives running in parallel, which we look forward to sharing with the market very soon."

Next steps

Follow-up drilling is already under way, with drill hole SNUG-25-189 targeting the area between SNUG-24-096-W1 and SNUG-25-184 to further evaluate the continuity and scale of both the South Limb and N2 mineralized systems. Assays for 2025 drill holes are expected in early July and will be released as they are received.

BHEM surveys

The BHEM surveys at Selebi mine utilize the Crone PEM (pulse electromagnetic) system operated by local Botswanan staff. Survey data are collected using a three-component fluxgate probe collecting full waveform data. Surveys have been collected using time bases between 50 milliseconds and 1,000 milliseconds (0.25 hertz to five hertz). The data have been processed to a calculated residual step response to better quantify the conductive sources. This added processing has proven to be invaluable because of the size of the highly conductive mineralized system.

Qualified person

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

Technical report

The mineral resource estimate on the Selebi 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 Resources' 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 resources 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 the company's stakeholders. Premium Resources' skilled team has worked on 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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