Mr. Keith Morrison reports

PREMIUM NICKEL ANNOUNCES DIRECTOR DSU GRANT

Premium Nickel Resources Ltd. has granted an aggregate of 312,499 deferred share units (DSU) to its independent directors at a deemed price of 90 cents per DSU. The DSUs were granted in consideration for services rendered by the directors for the quarter ended March 31, 2024. The DSUs were granted in accordance with the company's deferred share unit plan adopted on Dec. 26, 2022, subsequently amended on March 3, 2023, and were priced based on the volume-weighted average price of the company's common shares on the TSX Venture Exchange for the last five trading days immediately preceding the grant date. To date, the company has issued a total of 1,043,473 DSUs to its independent directors.

About Premium Nickel Resources Ltd.

Premium Nickel Resources is a mineral exploration and development company that is focused on the redevelopment of the past-producing nickel, copper and cobalt mines owned by the company in Botswana. Premium Nickel Resources is committed to governance through transparent accountability and open communication within its team and its stakeholders. The company's 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.