Premium Exploration, Inc. announced results from the metallurgical testing program on the Friday-Petsite pit-constrained gold resource which hosts 629,000 oz indicated Au in 21.5 Mt @ 0.91 g/t Au and 146,000 oz inferred in 5.9 Mt @ 0.77 g/t Au with a 0.4 g/t cut-off. Results indicate that gold and silver react very well to cyanidation with excellent recoveries: Gold: 75% - 93%; Silver: 17% - 81%. Metallurgical program highlights: Gold recoveries up to 93% in the lower region of the Main Zone; Gold recoveries up to 90% confirms historic results in the upper region of the Main Zone; 86% average gold recovery from samples taken throughout the deposit.

A total of 13 metallurgical samples were taken from fresh HQ size drill-core throughout the deposit to provide a representative combination of various intensities of alteration, brecciation/shearing, and sulfide mineralization in a range of gold grades. Composites were from 1.5m to 2.0m in length and taken from holes drilled by Premium Exploration between 2009 and 2011 at various depths along strike of the deposit. 1 kg samples were ground to 10 mesh (2mm) and subjected to bottle-role cyanidation for 30 hours.

Gold head grades ranged from 0.35 g/t Au to 5.92 g/t Au.