Premium Exploration Inc.
TSX VENTURE : PEM

Premium Exploration Inc.

January 27, 2010 14:38 ET

Premium Exploration Appoints New Senior Finance and Senior Technical Board Members

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 27, 2010) - Premium Exploration Inc., (TSX VENTURE:PEM) an explorer and developer of North American gold, silver, platinum and palladium, is pleased to announce the appointment of Mr. Patrick Sam Yue and Dr. Guojian Xu to its Board of Directors.

"These additions to Premium's Board of Directors ensure that the Company will continue to benefit from a diversity of skills and experience. The depth of Mr. Sam Yue's experience in international finance and Dr. Xu's geological knowledge and technical expertise in exploration will be extremely valuable during the development of the Company and its assets. I am very pleased to welcome our new board members and look forward to their contributions to the Company during this exciting period of Premium's development.

A substantial portion of Premium's last private placement came from Ausmon Resources Limited of Australia and was based on a review of Premium's assets by Mr. Sam Yue and Dr. Xu and recognition of the value of the gold properties and potential for growth of the resource base. Their confidence in Premium's management and geologic team is appreciated and well founded as evidenced by the recently announced drill results from the Friday-Petsite property" stated Wilf Struck, CEO.

Mr. Sam Yue began his accounting career with Coopers & Lybrand (now Pricewaterhouse Coopers) in London and qualified as a Chartered Accountant in 1978. He gained valuable experience in international accounting and finance, working in the United Kingdom, Africa and Saudi Arabia. In 1985, he joined the finance industry in Sydney, Australia before moving on to the resource industry, oil and gas and mining. With over 20 years experience in financial and corporate management in Australia, Mr. Sam Yue has held senior financial executive and company secretarial positions with ASX listed companies; New Guinea Energy Ltd, Eastern Star Gas Limited, Sydney Gas Ltd, Minerals Corporation Limited, and Beach Petroleum Limited. He was a non-executive director of Jupiter Mines Limited (2007-2008) and an executive director of Ord River Resources Limited (2007-2009). He is presently a non-executive director of Gas2Grid Limited and provides services to small capitalization companies.

Mr. Sam Yue stated, "I am delighted to be associated with Premium which owns some very exciting and high potential assets waiting to be fully developed. I am also honoured to join the Board which consists of very experienced explorationists who are passionate about developing the assets. I look forward to working constructively with the team at Premium to create value for all shareholders."

Dr. Xu has over 20 years of experience in Australia and the international mining industry. His experience includes technical and senior management roles with Queensland Mining Corporation, Xstrata, Sparton Resources and Queensland Epithermal Gold. He holds an MSc in Economic Geology from the China University of Geosciences and a PhD from James Cook University in Australia. A geologist with specialist IOCG, Mt Isa Style copper and Carlin gold skills, Dr. Xu has in-depth knowledge of exploration techniques and extensive experience in mineral resources in Australia, China and Papua New Guinea. He is a Member of the Australasian Institute of Mining and Metallurgy and Fellow of the Society of Economic Geologists, and a competent person as defined by the 2004 JORC Code.

"I have been very impressed by the results achieved to date by the technical team of Premium. The high quality of the assets and an experienced team is the recipe to get Premium to the next level of its development. 2010 will be an exciting year at Premium" stated Dr. Xu.

Premium also announces the resignation of Salvador Huerta and Vanessa Bachman from its Board of Directors. On behalf of the directors, shareholders and employees, we would like to thank Mr. Huerta and Mrs. Bachman for their valuable contributions while serving on Premium's Board and wish them the best of luck as they pursue other endeavours.

About Premium Exploration Inc.

Premium Exploration Inc. (TSX VENTURE:PEM), is an explorer and developer of North American gold, silver, platinum and palladium. Our projects are located in the USA and Mexico; stable regions where we have a history of success. Our team is committed to unlocking mineral wealth for our shareholders by discovering, developing, and permitting precious metals assets to production. The Company's portfolio includes one of the largest land packages in Idaho, including an NI 43-101 gold resource, a PGM exploration project in Montana, and a past-producing silver project in Mexico. For additional information, please visit us at www.premiumexploration.com.

This press release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States 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 from time to time with the TSX Venture Exchange and the British Columbia Securities Commission. 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 statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in 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.

Contact Information