December 4th, 2012, Vancouver, British Columbia – Premium Exploration Inc. (TSXV: PEM; OTCQX: PMMEF) (“Premium” or the “Company) is pleased to report that a ground-based Induced Polarisation (“IP”) geophysical survey at the Idaho Gold Project (“IGP”) has successfully outlined a new target at the X Zone. This new IP target exhibits coincident highly anomalous gold-in-soil and airborne mag/EM signatures. These characteristics are similar to those associated with the three known deposits along the IGP and suggest potential for the discovery of new gold mineralization at the Idaho Gold Project.

This is the 12th advanced target identified on the project. These twelve targets all exhibit highly anomalous geochemical signatures associated with strong airborne magnetic and electromagnetic and ground IP geophysical anomalies. The majority of the targets are yet to be drill tested.

X-Zone IP AnomalyX-Zone Gold in Soils
Idaho Gold Project Idaho Gold Project

Permit Update
The Friday Zone Plan of Operations is in the 45 day comment period. Should this period proceed without comment, the Company anticipates receiving the drill permits in the spring of 2012. The Friday Zone Plan of Operations contains drill sites for exploration along an additional 2.5 km of potential strike length to the south of the Friday deposit and includes the Petsite Stock target.

Currently Premium can drill within the patented claims located in the Friday and Deadwood Zones. Additionally there are 10 drill sites permitted targeting the coincident IP, airborne and gold-in-soil anomalies in the Buffalo Gulch Zone. The additional targets identified by airborne, IP geophysics and soil geochemistry are in the permitting process.

IGP - Gold in Soils Trend Deadwood - IP Anomaly Buffalo Gulch IP Anomaly
Idaho Gold Project Idaho Gold Project Idaho Gold Project

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