Mr. Keith Morrison reports

PREMIUM NICKEL RESOURCES LTD. TO BEGIN TRADING ON THE OTCQX BEST MARKET AND APPOINTS TIMOTHY H. MORAN AS CLO

Premium Nickel Resources Ltd.'s common shares will begin trading on the OTCQX Best Market at the open of the market on Jan. 20, 2023, under the symbol PNRLF. The company has appointed Timothy H. Moran as chief legal officer and corporate secretary, effective immediately.

Trading on the OTCQX Market is an important step for companies seeking to provide transparent trading for their United States investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX Market, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws. Investors can find current market information and real-time quotes for the company on the OTC markets website.

Mr. Moran has been with the company and Premium Nickel Resources Corp. since September, 2019, as corporate secretary. As CLO, Mr. Moran will oversee management of the company's compliance and risk management. Mr. Moran is a Canadian corporate and securities law professional with over 30 years of experience advising domestic and international public and private companies.

About Premium Nickel Resources Ltd.

Premium Nickel is a Canadian company dedicated to the exploration and development of high-quality nickel, copper and cobalt resources. Premium Nickel believes that the medium- to long-term demand for these metals will continue to grow through global urbanization and the increasing replacement of internal combustion engines with electric motors. Importantly, these metals are key to a low-carbon future.

Premium Nickel focuses its efforts on discovering world-class nickel sulphide assets in jurisdictions with rule of law that comply with PNRL's values and principles, which surpasses the highest industry standards. Premium Nickel is committed to governance through transparent accountability and open communication within its team and its stakeholders.

Premium Nickel maintains a skilled team that has worked on over 100 projects collectively, accumulating over 400 years of resource discoveries, mine development and mine re-engineering experience on projects like Selebi and Selkirk. Premium Nickel's team members have on average more than 20 years of experience in every single aspect of mine discovery and development, from geology to operations.

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