Mr. Keith Morrison reports

PREMIUM NICKEL RESOURCES LTD. GRANTS STOCK OPTIONS

Effective Aug. 14, 2024, Premium Nickel Resources Ltd. has granted to certain directors, officers, employees and/or consultants of the company and/or its subsidiaries an aggregate of 3.11 million stock options of the company, pursuant to the stock option plan of the company.

The options have an exercise price of $1.10 per share and a five-year term from the date of grant, and vest annually in equal thirds beginning on the date of grant.

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 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 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.