Mr. Keith Morrison reports

PREMIUM NICKEL RESOURCES LTD. ANNOUNCES RESULTS OF ANNUAL GENERAL AND SPECIAL SHAREHOLDERS' MEETING

Premium Nickel Resources Ltd. has released the results of the annual general and special meeting of shareholders held on Sept. 20, 2023. All proposed resolutions, each described in the notice of the meeting of the company dated Aug. 3, 2023, and herein, were approved by the shareholders of the company.

The shareholders ratified and approved the number of directors at six and re-elected Don Newberry Jason LeBlanc, John Hick, Keith Morrison, Mark Christensen and William O'Reilly as directors of the company to hold office until the next annual meeting of shareholders or until their successors are elected or appointed. MNP LLP were appointed as auditor for the company for the ensuing year.

In addition, shareholders approved the company's amended stock option plan, deferred share unit plan and the previous grants of deferred share units.

Following the meeting, the board of directors reappointed the officers of the company, namely Keith Morrison (chairman and chief executive officer), Peter Rawlins (senior vice-president finance and chief financial officer), Timothy Moran (corporate secretary and chief legal officer) and Sharon Taylor (vice-president of exploration). Sean Whiteford continues as president, Premium Nickel Resources International Ltd., an indirect wholly owned subsidiary of the company which indirectly owns the company's Botswana mines.

The company also granted to a consultant of the company an aggregate of 50,000 stock options of the company pursuant to the stock option plan of the company. The options have an exercise price of $1.75 per share, expire on Aug. 8, 2028, and vest annually in equal thirds beginning on Aug. 8, 2024.

About Premium Nickel Resources Ltd.

Premium Nickel Resources is a mineral exploration and development company that is focused on the redevelopment of the previously producing nickel, copper and cobalt resources mines owned by the company in the Republic of Botswana. The company is driven by its belief that the demand for these metals will continue to grow in the medium term to long term as a result of global urbanization and the increasing adoption of electric motors over internal combustion engines. These metals are vital for achieving a low-carbon future. Premium Nickel Resources is committed to governance through transparent accountability and open communication within its team and the company's stakeholders.

Premium Nickel Resources' skilled team has worked on over 100 projects collectively, accumulating over 400 years of resource discoveries, mine development and mine re-engineering experience on projects like the company's Selebi and Selkirk mines. Premium Nickel Resources' senior 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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