Vancouver, B.C., Canada, June 20, 2009 --(PR.com
)-- Premium Exploration, Inc. (TSX VENTURE:PEM) ("Premium" or the "Company") is pleased to announce that the drilling on the high-grade gold zone commenced ahead of schedule, on June 14th 2009, and has confirmed the true dip of the Orogrande Shear Zone at the Friday-Petsite project in Idaho. Hole one, PFR2009-1, was drilled to a total depth of 152 meters (502 ft) and is now complete, and hole two, PFR2009-2, is in progress. A total of 161.5 meters (532 ft) of the 800-meter (2624 ft) initial Phase-One drill program is complete.
With the compilation and digitization of previous operator's data, the Premium Geological team, utilizing Gemcom 3-D modeling software, confirmed the true dip of the Orogrande Shear Zone at the Friday-Petsite property. Previous operators assumed the dip of the Shear Zone at the Friday-Petsite property dipped steeply west.
Premium Exploration's new model demonstrates that the mineralization dips steeply to the east. Drill hole PFR2009-1 was located north of the historic high-grade drill hole PC008 and oriented to test the easterly dip. PFR2009-1 intersected the structure and geology as predicted by the new model.
With the success of the first drill hole, Premium Exploration plans to extend the strike length of the high-grade mineralization utilizing this new information. The 800-metre, six-hole drill program is testing high-grade, gold mineralization associated with the Orogrande Shear Zone that has a 350-meter strike length to date.
2009 Drill Plan Google Earth Map: http://www.premiumexploration.com/wp-content/uploads/2008/05/2009-drill-plan-google-earth.pdf
2009 & Historic Drill Plan Gemcom Map: http://www.premiumexploration.com/wp-content/uploads/2008/05/2009-historic-drill-plan-gemcom.pdf
Friday-Petsite Project Map: http://www.premiumexploration.com/wp-content/uploads/2008/05/fp-historic-drill-geochem.pdf.
Pictures of core from PFR2009-1 are available on Premium's website at: http://www.premiumexploration.com/projects/usa/friday-petsite-dixie.
Core will be sent for assaying once logged and split. All analytical work is being completed by Acme Analytical Laboratories of Vancouver, BC. Acme Lab is an international analytical service that is compliant with the standards of ISO 9001:2000 and ISO 17025:1999. They employ a variety of international standards for quality control purposes.
Mr. Wilf Struck, P.Eng., is the CEO of Premium Exploration, Inc. and the Qualified Person for the technical information in the news release under National Instrument 43-101.
About Premium Exploration, Inc.
Premium Exploration, Inc. (TSX VENTURE:PEM) is an explorer and developer of precious metals projects with significant potential for near-term production and growth. Our projects are located in the USA and Mexico; stable regions where we have a history of success. Our team is committed to unlocking mineral wealth for our shareholders by discovering, developing, and permitting precious metals assets to production. The Company's portfolio includes one of the largest land packages in Idaho, including an NI 43-101 gold resource, a PGM exploration project in Montana, and a past-producing silver project in Mexico. For additional information, please visit them at www.premiumexploration.com.
This press release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Security Exchange Act of 1934, and involves a number of risks and uncertainties. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange and the British Columbia Securities Commission. All statements, other than of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.