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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.
Premium Resources (TSXV: PREM) (OTC Pink: PRMLF) has amended its consulting agreement with Altitude Capital Partners Inc., effective October 1, 2024. The new six-month agreement replaces the previously announced October 2024 arrangement, featuring a reduced monthly fee of CAD$10,000. Under the revised terms, Altitude will provide capital market intelligence, strategic opportunity analysis, funding source examination, and market analysis for future financings. Notably, no stock options or other securities have been or will be issued to Altitude under this agreement.
Premium Resources has announced high-grade assay results from eight in-fill drilling holes at its Selebi North underground mine in Botswana. Key intersections include 16.80 metres of 5.77% CuEq in the South Limb and 13.70 metres of 5.35% CuEq in the N3 Limb.
The drilling program has completed 63,000 metres across 160 drillholes from eight underground drill bays, with BHEM surveys completed in 63 underground holes. The company plans to resume exploration drilling on down plunge EM targets at Selebi Main in Q1 2025.
Premium Resources (TSXV: PREM) (OTC Pink: PRMLF) has announced the granting of 300,000 stock options to various directors, officers, employees, and consultants. The options were granted on December 4, 2024, with an exercise price of C$0.49 per share and a five-year term. Of the total options, 175,000 vest immediately, while the remaining 125,000 will vest annually in equal thirds starting from the grant date.
Premium Resources (PRMLF) announced key leadership changes. CEO Keith Morrison will retire on December 31, 2024, with Paul Martin serving as interim CEO while a search for a permanent replacement is underway. Sean Whiteford, President of Premium Resources International, will continue overseeing operational activities. Morrison will remain available as a consultant for the Selebi and Selkirk mines projects. Additionally, James K. Gowans will step down as Board Chair upon completion of the CEO search process but continue as a director, with Paul Martin appointed as the new Board Chair.
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