Premium Resources Ltd. (TSXV: PREM) (OTC Pink: PRMLF) has filed an initial Mineral Resource Estimate (MRE) for its past-producing Nickel-Copper-Platinum Group Elements sulphide (Ni-Cu-PGE) Selkirk deposit in Botswana. The MRE, with an effective date of November 1, 2024, was prepared by SLR Consulting (Canada) Ltd. in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (NI 43-101). The MRE estimates an inferred mineral resource of 44.2 million tonnes at 0.81% CuEq or 1.91g/t PdEq, with contained metal of 132,000 tonnes of copper and 108,000 tonnes of nickel.

The initial MRE was prepared using results from 232 surface and 10 underground historical drillholes drilled between 2003 and 2016, five 2016 drillholes sampled by PREM in 2021, and 17 historical drillholes resampled in 2024. Analytical results from PREM's re-sampling showed higher PGE values compared to historic results, indicating that the initial MRE might be conservative. Additional resampling is expected to result in higher Pt and Pd grades and contained metal.

The initial MRE was prepared under the conceptual processing scenario of producing two separate concentrates. Additional work on alternate processing options may result in higher recoveries, potentially increasing the resource estimate. Cobalt, a potentially valuable by-product, has not been included in the initial MRE as cobalt analyses are not consistently available throughout the deposit. Planned metallurgical studies will determine the payability of cobalt at the Selkirk Mine.



The MRE is supported by a Technical Report, which is available on PREM's website and SEDAR+. The Technical Report provides detailed information on the assumptions, qualifications, and limitations set forth in the MRE. The MRE is a significant milestone for PREM, as it serves as a solid foundation for advancing the Selkirk deposit to an economic study. The Company is currently evaluating whether the initial MRE cut-off grade assumptions can be improved through future engineering and metallurgical studies aimed at optimizing the overall efficiency of the mine.

In conclusion, Premium Resources Ltd. has filed an initial Mineral Resource Estimate for its Selkirk Mine in Botswana, estimating an inferred mineral resource of 44.2 million tonnes at 0.81% CuEq or 1.91g/t PdEq. The MRE was prepared using extensive historical drill data and a re-sampling program that revealed higher PGE values compared to historic results. The initial MRE was prepared under a conceptual processing scenario of producing two separate concentrates, with the potential for higher recoveries through alternate processing options. Cobalt, a potentially valuable by-product, has not been included in the initial MRE, and planned metallurgical studies will determine its payability. The MRE is a significant milestone for PREM, as it serves as a solid foundation for advancing the Selkirk deposit to an economic study.