Orogrande Shear Zone - Friday-Petsite

Gold

Friday-Petsite hosts a 531,890 oz gold inferred resource (NI 43-101). Open along strike and at depth, it has many of the hallmarks of a world-class, gold deposit in terms of its size potential and current grade. There is the possibility of additional sulphide gold mineralization at depth and additional oxide gold mineralization along strike. The property is located in the vicinity of Elk City, Idaho County, central Idaho, in the western United States. Premium believes the possibility exists to increase these historical resource estimates on the Friday-Petsite Property through further exploration work as the deposit is open to the north and south along strike and at depth.

Micon International Ltd. describes the Friday / Petsite property as an Advanced Exploration Property and further concluded that the results of the historical exploration programs on the property have defined the following primary mineralized zones:

A medium-sized disseminated gold deposit that was defined through at least 192 drill holes on 100 foot center spacing that is open along strike and at depth and potentially expandable through additional exploration. As further described in the 2004 Micon report and this press release, this deposit has an Inferred Resource meeting NI 43-101 standards at the following tons and cut-off grades:

In Premium’s preliminary review of the historical exploration data of this disseminated gold deposit, Premium has identified three additional targets, some of which are associated with geochemical / geophysical gold anomalies in the near vicinity of this deposit that have not been drill tested to date.