PremiumExploration, Inc. (TSX VENTURE:PEM) ("Premium" or the "Company") ispleased to announce the staking of 110 quartz lode mining claims thatcovers the balance of the heart of the Central Orogrande Shear Zone("OSZ") in Idaho, USA.

The Central Orogrande Shear Zone islocated between the Company's Buffalo Gulch Joint Venture property inthe Northern Extension of the OSZ and the Company's Friday/Petsite531,890 ounce inferred gold resource property located in the SouthernExtension of the OSZ.

- 9.9 g/t gold over 21.3 meters, including 74.85 g/t gold over 1.5 meters was intercepted in the OSZ by previous operators.

-A review of all available exploration data leads the Company to believethat the OSZ is the mineralizing conduit for the entire 28 km strikelength of the geologic structure.

During this review, theCompany correlated the results of the historic exploration programscompleted by past operators including Glamis Gold, Bema Gold,Cyprus-Amax Minerals, Canden Capital Corporation and Idaho ConsolidatedMetals Corporation. The historic drill results from past exploration ofthe Southern Extension of the OSZ has identified a discrete high gradegold zone that appears to run alongside, or as part of, the OrograndeShear Zone. Also, the historic geophysical and geochemical surveystaken on the Northern Extension of the OSZ indicate the possibilitythat this discrete high grade gold zone may extend along the entirelength of the OSZ, and that the OSZ is a possible mineralizing conduitalong its entire 28km strike length. A map of the Historic Idaho GoldBelt may be viewed by clicking on this link:http://www.premiumexploration.c...

None of the previous exploration programs ever methodicallytested the OSZ for high grade continuous gold mineralization, and todate this model has not been systematically drill tested. The purposeof Premium's drill plan is to determine if the high grade gold valuesencountered in historical drilling at Friday / Petsite persist alongthe entire 28 km strike length of the OSZ.

Highlights of the Preliminary Drill Plan Include:

-Drill testing of the Southern Extension of the Orogrande Shear Zone atFriday Petsite: The proposed drilling at this zone includes 15 drillholes totaling approximately 3,700 meters on the Friday property. Thisdrilling is designed to intersect the OSZ and delineate mineralizationdown dip and along strike from gold mineralization encountered in pastdrilling.

Based on drilling to date, the Friday property has aninferred resource of 531,890 ounces at a grade of 0.0318 ounces per tonusing a 0.015 ounce per ton cutoff, with high grade intercepts.Additional details on the Friday property can be reviewed in the 2007NI 43-101 Technical Report on the property.

- Drill testing ofthe Central Orogrande Shear Zone: The Company is planning to drill 8holes in the Central Orogrande Shear Zone totaling 1,700 meters. Thedrilling on the Central Orogrande Shear Zone is designed to intersectthe OSZ in the area as delineated by past soil geochemistry surveysover a 6 kilometer strike length.

Several historic mines arelocated in the Central Orogrande Shear Zone that mined quartz veins indilatent zones associated with the shear zone. Past production recordshaven't been located, so information regarding tonnage or grade of themines is not available.

- Drill testing of the NorthernExtension of the Orogrande Shear Zone at Buffalo Gulch: Premium isplanning on drilling 17 holes on the Buffalo Gulch property totaling3,700 meters. This drilling is designed to test mineralization belowthe currently defined Buffalo Gulch deposit as well as along strikeacross the Northern Extension of the OSZ.

Historical coincidentgeophysical (IP and resistivity) and soil geochemical survey'sidentified anomalies associated with the Buffalo Gulch deposit to thesouth of the deposit along the Northern Extension of the OSZ which willbe tested by the drilling. The geochemical anomaly is 4 kilometers longand stretches from Buffalo Gulch creek on the north side of the BuffaloGulch deposit to the South Fork of the Clearwater River south of theBuffalo Gulch deposit where the Northern Extension of the OSZ meet theCentral OSZ.. Premium will also conduct additional geophysics toconfirm and extend the previous geophysics and further delineate theOSZ from the Buffalo Gulch deposit to the Clearwater River.

TheCompany is currently preparing budgets, timelines, reviewing potentialdrill contractors and preparing permit applications to move forwardwith this significant drill program. As the Company finalizes thesedetails, Premium will issue additional press releases providing updatedinformation on the status of these items.

Overview of the Orogrande Shear Zone

TheOrogrande Shear Zone is a gold mineralization belt that is 28 km longin strike length and hosts many of the 219 mapped prospects making upthe "Elk City Gold Belt". This includes at least 13 minor historicproducers from the early 20th century. The streams paralleling andcrossing the OSZ have been extensively placer mined. The OrograndeShear Zone is comprised of the following three sections: the NorthernExtension, the Southern Extension and the Central Shear Zone.

Qualified Person

Mr. Wilf Struck, P.Eng., geologic consultantto the Company, is the Qualified Person ("QP") responsible for thetechnical disclosure in this press release, in accordance with NationalInstrument 43-101.

About Premium Exploration

PremiumExploration, Inc. is focused on precious metals exploration in theUnited States and Mexico. The Company is founded on a managementand geological team with a proven track record demonstrated by theiraccomplishments. Premium's portfolio currently holds projects invarious stages of exploration located within under-explored preciousmetal belts that host multi-million ounce deposits. Utilizing"valueadded" and joint venture strategies, Premium maintains multipleinterests and royalties in their projects, maximizing shareholderexposure to mineral discovery. Through a joint venture agreement,Premium is advancing the Chrome Mountain PGM project in Montana, USAand the Buffalo Gulch Gold Deposit in Idaho, USA, while negotiationsfor joint ventures and acquisitions in Mexico are underway. Additionalinformation may be found on our website athttp://www.premiumexploration.com.

All prospective and currentshareholders of Premium Exploration are invited to join the company'sofficial investment forum exclusively at Pinnacle Digest:(http://www.pinnacledigest.co... The forum allows forinvestor controlled discussion, questions and progressive feedback fromother shareholders and investors. Third party reports on the companyare also available at http://www.pinnacledigest.com/.

Thispress release contains certain "Forward-Looking Statements" within themeaning of Section 21E of the United States Security Exchange Act of1934, and involve a number of risks and uncertainties. Importantfactors that could cause actual results to differ materially from theCompany's expectations are disclosed in the Company's documents filedfrom time to time with the TSX Venture Exchange and the BritishColumbia Securities Commission. All statements, other than ofhistorical fact, included herein are forward-looking statements thatinvolve various risks and uncertainties. There can be no assurance thatsuch statements will prove to be accurate, and actual results andfuture events could differ materially from those anticipated in suchstatements.

SOURCE: Premium Exploration, Inc.

PremiumExploration, Inc. Christine Kopr Investor Relations (604) 682-0243Email: IR@premiumexploration.com Website: www.premiumexploration.com