Premium Exploration Inc.

Premium Exploration Inc.

April 08, 2009 10:34 ET

Premium Exploration Appointment of Mr. Wilf Struck, P.Eng., as CEO

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 8, 2009) - Premium Exploration, Inc., (TSX VENTURE:PEM) ("Premium") is pleased to announce the appointment of Mr. Wilf Struck, P.Eng., as Chief Executive Officer ("CEO") to work closely with Del Steiner, J.D., President and Chairman of the Board, to spearhead Premium's development of it's Gold Properties located in Idaho. Premium's corporate strategy includes advancing two potential near-term production scenarios and a major exploration and development program along the Orogrande Shear Zone in Idaho.

As a Geological Engineer, Mr. Struck brings 25 years of considerable experience in mining operations, operational and corporate management, mine engineering and development, and involvement in acquisitions, evaluations and feasibility studies to Premium. In addition to his State and Federal agency contacts, Mr. Struck has significant expertise in gold and platinum group metal exploration in Canada and the USA, and permitting exploration and development programs with State and Federal agencies in both Montana, (particularity in the Stillwater Complex at Premium's Chrome Mountain project), and Idaho.

Mr. Struck has in-depth knowledge of Premium's Buffalo Gulch and Friday-Petsite properties from serving as the Project Engineer with Idaho Gold Corporation; Supervisor - Exploration Properties with Bema Gold Corporation and as VP and Chief Operations Officer with Idaho Consolidated Metals Corporation. During this time, Cyprus, Cyprus-Amax and Kinross Gold Corp. were joint ventured with Idaho Consolidated Metals on the Orogrande Shear Zone and successfully delineated an Inferred gold resource of 531,890 troy ounces, contained in 15.17 million tonnes averaging 1.1 g/t gold (0.032 oz/ton) at a cutoff of 0.514 gram per metric tonne (0.017 oz/ton), at the Friday-Petsite property.

Mr. Struck developed and permitted the Champagne Mine, an open-pit, heap leach gold and silver mine in Idaho, which operated from 1989 to 1993, and produced over 67,000 ounces of gold equivalent for Bema. The mine was a success, earning Bema the "Award for Excellence in Reclamation" in 1996 from the Idaho Interagency Reclamation Awards Committee. The Idaho Interagency Reclamation Awards Committee consists of personnel from various state and federal agencies, including the Idaho Department of State Lands, U.S. Forest Service, Bureau of Land Management, Department of Health and Welfare (DEQ), Department of Water Resources and Department of Fish and Game. Bema personnel worked closely with state and federal agencies and met the State of Idaho water quality standards throughout mining operations, making the Champagne Mine the first major heap leach operation in Idaho to meet the State's water quality standards for effluent from a rinsed leach pad, and was the first major disseminated gold property in the State of Idaho to be completely reclaimed.

During the start up of the Champagne Mine, Mr. Struck was involved in the exploration of the Buffalo Gulch project and later, helped develop and permit the project for production. Buffalo Gulch received all the required production and cyanide permits as an open-pit, heap leach gold operation in 1991 but was then placed on care and maintenance at the start of construction due to low gold prices. Mr. Struck was also directly involved in the preparation of the original Plan of Operations for the Buffalo Gulch Mine.

This permitting expertise and excellent working relationships with the State and Federal agencies will be utilized to re-acquire the permits to bring Buffalo Gulch into production.

Mr. Struck's experience as Premium's QP has familiarized him with Premium's projects and in addition, he has established excellent working relationships with the Premium team, ensuring a smooth transition to CEO.

"Mr. Struck brings senior geological and corporate development experience to Premium which is important to the strategic growth of the Company. We have worked together since 1992, starting on the gold properties that Premium is currently developing and to date, every exploration program that we have worked on together has been an overwhelming success." stated Del Steiner.

"I'm excited about joining the Premium team at this stage of development as I believe the Company is poised for rapid growth with their properties in Idaho which include an NI 43-101 compliant resource and a second property which is advancing through the permitting process for construction of a gold mine. Idaho has a strong mining history and is committed to the creation of jobs through the utilization of their abundant natural resources, including the development of new mines. The Company controls the majority of the strike length of the gold rich Orogrande Shear Zone in central Idaho which hosts a number of under-explored gold properties, and I'm looking forward to advancing these properties and helping Premium join the ranks of gold producing companies," stated Mr. Struck.

Mr. Struck has developed strong relationships with industry analysts and investors that will serve to strengthen the Company's contacts in the capital markets. Mr. Struck holds a Bachelor of Applied Science in Geological Engineering from the University of British Columbia and is a registered Professional Engineer in British Columbia, Canada and Idaho, USA. He also serves as a Director for Adrianna Resources Inc.

The Board of Directors has approved the issuance of 600,000 stock options to Mr. Struck under the Company's Stock Option Plan. The options are exercisable for a period of 5 years at $0.15. The options will vest according to the Company's Stock Option Plan.

About Premium Exploration, Inc.

Premium Exploration, Inc. is a unique explorer and developer of precious metals projects with significant potential for near-term production and growth. Premium's extensive portfolio holds advanced stage gold, silver and platinum group metals projects located in the USA and Mexico. Listed on the TSX Venture Exchange (TSX VENTURE:PEM), Premium has attracted an innovative and successful team of executives, advisors, metallurgists, geological and mining engineers, and consultants who are committed to achieving our plan of discovering and developing projects to production; some of the most profitable stages of exploration.

All prospective and current shareholders of Premium Exploration are invited to join the Company's official investment forum exclusively at Pinnacle Digest: The forum allows for investor-controlled discussion, questions, and progressive feedback from other shareholders and investors. Third party reports on the company are also available at

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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