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Ultimately Developing a District with Multiple Near-Surface Gold Resources along the +30 km Property in Idaho
Message: Amends Warrant Term for Private Placement
| April 15, 2009 |
| Premium Exploration Amends Warrant Term for Private Placement |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 15, 2009) - Premium Exploration, Inc. (TSX VENTURE:PEM) ("Premium") reports that the management team has opted to amend the Warrant terms applicable to its private placement announced on March 25th, 2009. The 1/2 Warrant previously announced will be increased to a full Warrant as part of each Unit and the price will be amended to $0.20 applicable in the first year and $0.50 in the second year. The offering will raise up to $500,000 through a non-brokered private placement of 5,000,000 Units (the "Unit") at $0.10 per Unit. Each Unit will consist of one (1) Common Share (a "Share") and one (1) non-transferrable Share Purchase Warrant. Each Warrant will be exercisable for a period of two years at $0.20 in the first year and $0.50 in the second year. The proceeds from the placement will be used for production permitting on the Buffalo Gulch gold project, exploration drilling on the high grade gold zone at the Friday-Petsite property; an NI 43-101 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); and general administration. The funds raised will include up to a 10% finder's fees in cash or shares. The proposed amendment is subject to TSX Venture Exchange approval. 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: http://www.pinnacledigest.com/compan... . 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 http://www.pinnacledigest.com. |
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