Premium Exploration Inc.
TSX VENTURE : PEM

Premium Exploration Inc.

October 17, 2006 09:45 ET

Premium Exploration, Inc. Appoints Mr. Robert McLeod to its Board of Directors

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 17, 2006) - Premium Exploration, Inc. (TSX VENTURE:PEM) ("Premium" or the "Company") (http://www.premiumexploration.com) is pleased to announce the appointment of Mr. Robert McLeod, M.Sc., P.Geo., as a Member of the Board of Directors.

Mr. Del Steiner, President and CEO of the Company stated, "Premium is honoured to announce the appointment of Robert McLeod to our Board of Director's. He has worked extensively in various tectonic and orogenic environments throughout North America with an emphasis on epigenetic gold, volcanogenic massive sulphide, and magmatic Cu-Ni-PGM exploration prospects, which are similar to the Company's exploration targets. We look forward to the contribution of his expertise and leadership to our team as we explore our properties in Mexico and Montana."

Mr. McLeod is currently serving as Vice-President of Exploration and Director of Full Metal Minerals (TSX VENTURE:FMM), and stated, "I am excited about the opportunity to work with Premium's Exploration Team as we advance the current property portfolio, and expand our asset base in Latin America."

Biography of Mr. Robert McLeod M.Sc., P.Geo.

Mr. McLeod is a highly technical, creative and innovative exploration geologist. He has over 12 years of experience in mining and exploration, and has worked with a variety of major, mid-size and junior exploration and mining companies. His experience includes planning, budgeting, evaluation and supervision of large and small exploration and mine development projects. Mr. McLeod also currently serves as a director of Keegan Resources (TSX VENTURE:KGN), and an advisor for Norsemont Mining (TSX VENTURE:NOM), and Grayd Resources (TSX VENTURE:GYD).

His exploration strategy is a multifaceted approach which includes conceptual geologic ideas with prospecting, early-stage project advancement focusing on discovery, and advancing mid-stage projects towards feasibility. As an exploration geologist and project manager at Miramar s Hope Bay project, he was part of the team that discovered the Naartok deposit, as well as expanding and delineating the Boston and Doris deposits. He was previously Vice-President of Exploration for Atna Resources Ltd., a junior company exploring for gold in Alaska, and base metals in the Yukon.

Mr. McLeod received his Bachelor of Science Degree from the University of British Columbia in 1993 where he majored in Economic Geology. He later graduated from Queens University, with a Masters in Geology in 1998. Mr. McLeod is a member of the Society of Economic Geologists, a member of the Association of Professional Engineers and Geoscientists of BC, Prospectors and Developers Association of Canada, Alaska Miners Association and the BC & Yukon Chamber of Mines.

About Premium Exploration, Inc.:

Premium Exploration, Inc., is a TSX Venture Exchange listed junior exploration company. Premium is strategically developing its highly prospective prospect portfolio to maximize the economic potential of the expanding market in precious metals. The Company's exploration prospects consist of five significant land packages, one is located in the Stillwater Complex in the State of Montana and three are located in the state of Nayarit and one in the state of Sonora Mexico, respectively. The Company's exploration targets have indicated mineralization consisting of gold, silver, copper, nickel and platinum group metals. More information can be found on our website at http://www.premiumexploration.com or on the SEDAR website at http://www.sedar.com.

The information in this press release is not NI 43-101 compliant and should not be relied upon as such. This press release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Security Exchange Act of 1934, and involve 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 files 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. Information contained in this news release includes information about adjacent properties on which we have no right to explore or mine. We advise investors in the United States that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. United States investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.

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

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