Premium Exploration Samples High Grade Gold and Encounters Friday Zone-Style Mineralisation at the Deadwood Zone

October 12, 2011, Vancouver, British Columbia: Premium Exploration Inc. (TSX-V:PEM, OTCQX:PMMEF) (”Premium” or the “Company”) is pleased to announce a drill program update and surface grab sample results from the recently acquired patented claims within the Deadwood Zone at the Idaho Gold Project.

Key Points:

Surface grab samples have returned encouraging grades from two different mineralised systems. Premium’s primary focus is a lower grade, bulk-tonnage target; however a higher grade cross-cutting quartz vein system has been recognised, which represents an attractive secondary target.
Quartz Vein Altered Country Rock #972811 - 1.48 g/t Au
#972816 - 19.37 g/t Au #972806 - 1.80 g/t Au #972812 - 0.61 g/t Au
#972817 - 42.46 g/t Au #972807 - 0.05 g/t Au #972813 - 0.17 g/t Au
#972818 - 54.05 g/t Au #972808 - 0.50 g/t Au #972814 - 0.81 g/t Au
#972819 - 33.88 g/t Au #972809 - 0.09 g/t Au #972815 - 0.21 g/t Au
#972810 - 0.10 g/t Au #972820 - 0.97 g/t Au
Drilling on the patented claims within the northern part of the Deadwood Zone has encountered similar alteration assemblages and sulphide mineralisation to those seen in grab samples.
Deadwood drill-holes exhibit similar geological, structural, alteration, and sulphide mineralisation characteristics of the Friday Zone located 12 km to the south, which hosts the current NI 43-101 compliant resource.
Deadwood is one of several mineralised zones along the 30 km Orogrande Shear Zone (OSZ) regional system; all mineralised zones are linked by the 30 km geophysical anomaly with co-incident 16 km gold-in-soil trends.
“Encountering Friday Zone material 12 km away within the Deadwood Zone, along with excellent outcrop results, and gold-in-soils, further suggests the potential for multiple gold deposits along the regional trend,” stated Michael Ostenson, P.Geo., VP Exploration.
» Premium Exploration Samples High Grade Gold and Encounters Friday Zone-Style Mineralisation at the Deadwood Zone