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Message: 1.11 g/t Au over 111.25 meters - nice intersect!!!
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Premium Exploration Intersects 1.11 g/t Au Over 111.25 m at Idaho Gold Project
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 19, 2013) - Premium Exploration Inc. (TSX VENTURE:PEM)(OTCQX:PMMEF) is pleased to announce results for the RC drill hole completed in December 2012, at the Friday Zone on the Idaho Gold Project.
| PFR2012-1 returned: | 1.11 g/t Au over 111.25 meters within |
| 0.57 g/t Au over 304.80 meters |
The RC drill hole was designed to test the viability of using reverse circulation drilling in an effort to reduce the cost of the in-fill program for the resource.
The results appear to be consistent with the resource and previously released core holes drilled in this area; PFR2009-10, PFR2009-12 and PFR2010-23 (please see press releases dated January 13, 2010 and January 31, 2011). Due to the grade variability of the resource, a QA/QC analysis is being conducted which will compare the results of the RC hole with the adjacent core holes. Upon completing the QA/QC and economic analysis, Premium will then determine whether to proceed with the RC drill method or return to diamond drill coring.
Adjacent Core Holes:
| PFR2009-10: | 2.66 g/t Au over 198.4 meters |
| 3.81 g/t Au over 121.1 meters | |
| PFR2009-12: | 1.00 g/t Au over 83.4 meters including |
| 3.47 g/t Au over 2.2 meters | |
| PFR2010-23: | 0.8 g/t gold over 370.9 meters including |
| 1.5 g/t gold over 134.3 meters including | |
| 2.5 g/t gold over 47.3 meters |
The test hole was drilled within the central portion of the Main Zone of the Friday resource targeting an area with low drill density. It was drilled to the west at a -60 degree dip from the same collar as PFR2010_23 which was drilled at a -70 degree dip on the same azimuth.
Total depth reached was 1,000 feet however due to ground conditions the drill hole was stopped prior to reaching its targeted depth and terminated in mineralization.
To view the location of the drill hole, please click here: http://bit.ly/2012_RC_Drilling
| Drill Hole | Zone | From (m) | To (m) | Interval (m) | Au g/t |
| PFR2012-1 | Friday | 193.55 | 304.80 | 111.25 | 1.11 |
| within | 0.00 | 304.80 | 304.80 | 0.57 |
*The gold grade calculation is a weighted mean with no top cut, and no bottom cut. The grade calculation includes internal waste and low grade sections.*True Width is estimated to be approximately 75% of the drilled interval.
The Friday Zone resource estimate is comprised of 629,000 oz Au Indicated (21.5 Mt @ 0.91 g/t Au at 0.4 g/t cut-off) and 146,000 oz Au Inferred (5.9 Mt @ 0.77 g/t Au at 0.4 g/t cut-off). The resource is at or near surface, and remains open along strike to the north, south and at depth. The resource is one of three known deposits along the Idaho Gold Project.
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