Premium Resources Ltd Stock Price, News & Analysis

Premium Resources (TSXV: PREM) (OTC Pink: PRMLF) has announced the appointment of André van Niekerk to its Board of Directors, effective immediately. Van Niekerk, who brings over 23 years of mining industry leadership experience, replaces retiring director Don Newberry.

Van Niekerk previously served as CFO of Gatos Silver and Nevada Copper Corp., where he led successful equity financings and debt restructurings. He also spent 14 years at Golden Star Resources in various senior financial and operational roles, ultimately serving as Executive VP and CFO.

Following this change, Premium's Board now consists of eight directors. Additionally, the company has granted 230,000 stock options to various stakeholders at an exercise price of C$0.49 per share with a five-year term. Of these options, 140,000 vest immediately, while 90,000 vest annually in equal thirds.

Premium Resources (PRMLF) has announced significant high-grade assay results from resource reclassification drilling at its Selebi North underground mine in Botswana. The drilling program, encompassing ~34,300 metres over 80 holes, revealed notable findings including:

Key highlight from SNUG-24-174: South Limb showed 27.55 metres of 4.97% CuEq (2.14% Cu, 1.38% Ni, 0.07% Co), while SNUG-24-146: South Limb demonstrated 13.15 metres of 4.59% CuEq (1.19% Cu, 1.65% Ni, 0.08% Co).

The company has completed its infill drill program and is now shifting focus to high-impact resource growth through an accelerated expansion drilling strategy, targeting areas with strong geophysical indicators of massive sulphides and high-grade mineralization.

Premium Resources (PRMLF) has announced a comprehensive six-month strategic plan focused on expanding and developing its Selebi Mine deposits. The strategy includes aggressive exploration drilling programs at both Selebi North and Selebi Main deposits, targeting potential resource expansion.

Key initiatives include:

• Surface drilling program at Selebi Main targeting a possible third mineralized horizon 150 meters below current resource
• Hinge drilling program between Selebi deposits, covering 12,500 meters in 6 holes over 7 months
• Underground resource expansion drilling at Selebi North
• Development of dual-purpose exploration drift
• Metallurgical testing and evaluation of XRT ore sorting technology

The company will also advance the Selkirk Mine through cost-effective initiatives, including a surface drilling program for resource expansion and metallurgical flowsheet development.

Premium Resources (TSXV: PREM) (OTC Pink: PRMLF) has appointed former BlackRock senior executive Chris Leavy to its Board of Directors, effective immediately. Leavy replaces William O'Reilly, who is retiring from the board.

Leavy brings over 20 years of asset management experience, including notable positions at Oppenheimer Funds, where he grew the value equity group from $6 billion to $16 billion and was recognized as a Barron's Top 100 Fund Manager. At BlackRock, he served as Chief Investment Officer of Fundamental Equities (Americas) and was a member of the Global Operating Committee. Recently, he was part of One Tower GP, focusing on private equity and credit investments.

Following this appointment, Premium's Board now consists of eight directors, with Paul Martin as Chair. The company expects Leavy's financial expertise to support its strategic initiatives and drive shareholder value.

Premium Resources (PRMLF) has successfully completed a major recapitalization, including a C$46 million equity private placement and conversion of C$20.8 million debt into equity. The private placement involved issuing 153,333,334 units at C$0.30 per unit, with each unit including one common share and half a warrant exercisable at C$0.55 until March 2028.

The debt conversion with Cymbria resulted in issuing 69,607,843 units at C$0.30 per unit, with each unit comprising one common share and one warrant exercisable at C$0.40 until March 2028. EdgePoint's voting rights have been expanded, now able to nominate two directors.

Morgan Lekstrom has been appointed as the new CEO effective March 20, 2025, while Paul Martin transitions to Chairman of the Board. The company also granted 5,750,000 stock options and 3,175,000 RSUs to key personnel.

Premium Resources (PRMLF) has successfully completed a major recapitalization, including a C$46 million equity private placement and conversion of C$20.8 million debt into equity. The private placement involved issuing 153,333,334 units at C$0.30 per unit, with each unit including one common share and half a warrant exercisable at C$0.55 until March 2028.

The debt conversion with Cymbria resulted in 69,607,843 units at C$0.30 per unit, with warrants exercisable at C$0.40 until March 2028. EdgePoint's voting power increased to 21.8% of outstanding shares (34.5% on partially-diluted basis).

The company appointed Morgan Lekstrom as new CEO and director effective March 20, 2025, while Paul Martin transitions to Chairman. The proceeds will be used to advance mineral assets in Botswana and for working capital purposes.

Premium Resources (PRMLF) has announced significant drilling results outside the Mineral Resource Estimate (MRE) at its Selebi North underground mine in Botswana. Key findings include:

- SNUG-24-172: 14.20 metres of 5.14% CuEq or 2.49% NiEq (1.73% Cu, 1.66% Ni, 0.08% Co)
- SNUG-24-144: 14.40 metres of 3.99% CuEq or 1.94% NiEq (1.44% Cu, 1.24% Ni, 0.06% Co)

The company has initiated an underground exploration drilling program using two drills: one targeting the area between N2 Limb and N3 Limb, and another focusing on testing 100 metres down plunge of the South Limb. The program aims to expand the mineral resource by testing large, highly conductive borehole electromagnetic plates located down plunge, interpreted as massive sulphide mineralization.

Premium Resources (TSXV: PREM) (OTC Pink: PRMLF) has filed an initial Mineral Resource Estimate (MRE) for its past-producing Selkirk Nickel-Copper-Platinum Group Elements sulphide deposit in Botswana. The Technical Report, dated January 8, 2025, with an effective date of November 1, 2024, confirms the previously announced 44.2 MT resource estimate.

The report, prepared by SLR Consulting (Canada) in compliance with NI 43-101 standards, was verified through site visits that included inspection of historical mineralized core, gossanous outcrop examination, infrastructure assessment, and verification of drill hole locations. The technical content was reviewed and approved by qualified persons Valerie Wilson of SLR Consulting and Sharon Taylor, PREM's Vice President Exploration.

Premium Resources (TSXV: PREM) (OTC Pink: PRMLF) has granted a total of 317,500 deferred share units (DSUs) to its independent directors. The DSUs were issued at CDN$1.00 per unit as compensation for services provided during the quarter ending December 31, 2024. This grant was made under the Company's Deferred Share Unit Plan, representing part of the board compensation structure.