Premium Exploration Identifies an Additional Strong IP Target Along the Idaho Gold Project

Premium Exploration Inc. (TSX VENTURE:PEM)(OTCQX:PMMEF) ("Premium" or the
"Company) is pleased to report that a ground-based Induced Polarisation ("IP")
geophysical survey at the Idaho Gold Project ("IGP") has successfully outlined a
new target at the X Zone. This new IP target exhibits coincident highly
anomalous gold-in-soil and airborne mag/EM signatures. These characteristics are
similar to those associated with the three known deposits along the IGP and
suggest potential for the discovery of new gold mineralization at the Idaho Gold
Project.


This is the 12th advanced target identified on the project. These twelve targets
all exhibit highly anomalous geochemical signatures associated with strong
airborne magnetic and electromagnetic and ground IP geophysical anomalies. The
majority of the targets are yet to be drill tested.


For maps of the coincident X Zone IP and Soil targets, please click:
http://bit.ly/XZone_IPTarget and http://bit.ly/XZone_GoildinSoils.


Permit Update

The Friday Zone Plan of Operations is in the 45 day comment period. Should this
period proceed without comment, the Company anticipates receiving the drill
permits in the spring of 2012. The Friday Zone Plan of Operations contains drill
sites for exploration along an additional 2.5 km of potential strike length to
the south of the Friday deposit and includes the Petsite Stock target.


Currently Premium can drill within the patented claims located in the Friday and
Deadwood Zones. Additionally there are 10 drill sites permitted targeting the
coincident IP, airborne and gold-in-soil anomalies in the Buffalo Gulch Zone.
The additional targets identified by airborne, IP geophysics and soil
geochemistry are in the permitting process.


For maps of the other IP and Soil targets, please click here:
http://bit.ly/BG_IPTarget, http://bit.ly/DW_IPTarget, and
http://bit.ly/IGPSoil_Trends.


NI 43-101 Technical Report

Premium's current technical report on the Company's Idaho Gold Project was
prepared for Premium by by Mr. Ronald Simpson, P.Geo, President of Geosim
Services Inc. and independent "Qualified Person" under National Instrument
43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). The technical
report has an effective date of May 31, 2012 and was filed on SEDAR on August
16th, 2012.


Qualified Person

The Phase-Four exploration program is being directed by Michael Ostenson,
P.Geo., VP Exploration of Premium Exploration Inc. Mr. Ostenson is a Qualified
Person as defined by NI 43-101. Mr. Ostenson prepared, and approves of the
content in this release.


About Premium Exploration Inc.

Premium is focused on the exploration and development of its district-sized
Orogrande Shear Zone "OSZ" to fulfill its vision of developing a new mining
district in North America. The OSZ is a 30 km-plus regionally-significant
structure that correlates with multiple known zones of mineralization. This
structural control to gold mineralization, has characteristics similar to many
large gold belts, such as the Carlin Trend of Nevada. Midas Gold's Golden
Meadows Project is located approximately 90km south of the IGP, along strike of
a major regional structural trend. The Golden Meadows Project hosts Indicated:
4,229,000 oz (78.2 Mt @ 1.68 g/t Au) and Inferred: 2.890,000 oz (56.1 Mt @ 1.60
g/t Au) in resources to date. Exploration is ongoing at the bulk-tonnage
Friday-Petsite deposit, the most advanced of several known mineralized zones
located along the OSZ and represents four percent of the OSZ under Premium's
control.


For additional information, please visit us 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Premium Exploration Inc.
Mr. Del Steiner
President & Chief Executive Officer
(604) 682-0243
(604) 682-2499 (FAX)
dsteiner@premiumexploration.com, info@premiumexploration.com
www.premiumexploration.com


Opes Capital Inc.
Ms. Christine Kopr
Corporate Communications
(604) 682-0243
(604) 682-2499 (FAX)
ckopr@opescapitalinc.com
www.opescapitalinc.com

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