Mr. Keith Morrison reports

PREMIUM NICKEL RESOURCES LTD. ANNOUNCES BOARD CHANGES

Premium Nickel Resources Ltd. has appointed Paul Martin to the board of directors of the company. Mr. Martin was appointed to the board, effective immediately, to fill a vacancy resulting from the retirement from the board of John Hick.

Mr. Martin is a mining executive with over 30 years of experience at the chief executive officer, chief financial officer and director levels, in challenging and changing corporate environments. He has gained significant experience through his various roles at multioperational mining, royalty and exploration companies listed on the Toronto Stock Exchange, TSX Venture Exchange and New York Stock Exchange. He currently serves as the chair of the board of Red Pine Exploration and as a director of Osisko Bermuda Ltd. Mr. Martin was interim CEO at Osisko Gold Royalties Ltd. from July to December, 2023, and at Red Pine Exploration from March to August, 2024, in each case during CEO transition periods. He was previously president and CEO at Detour Gold Corp. from 2013 to 2018 and, prior to that, CFO at Detour from 2008 until 2013. He played a significant role on the senior executive team that permitted, completed a bankable feasibility study, financed, constructed and brought into operation the large-scale Detour Lake gold mine. Mr. Martin has worked in various senior financial roles at New Gold Inc., Gabriel Resources Ltd. and TVX Gold Inc. He has significant experience in governance matters related to publicly listed companies and holds the designation of CPA, CA.

MR. Hick has been a director of the company since August, 2022, and prior to that Mr. Hick was a director of the company's predecessor, North American Nickel Inc., from February, 2021. Mr. Hick has served at various times as the lead director of the company, the chair of its audit committee and the chair of its compensation committee.

With Mr. Hick's retirement from the board, and the appointment of Mr. Martin as a director, the board now consists of eight directors, namely James Gowans (chair), Mark Christensen, Jason LeBlanc, Norman MacDonald, Mr. Martin, Keith Morrison, Don Newberry and William O'Reilly.

Mr. Morrison, CEO of Premium Nickel, commented: "I welcome Paul to PNRL. Paul brings to the board the benefit of his many years of direct relevant experience in international mining finance, strategic planning, project development and operations, and governance. He has important contributions to make as we move forward with our plans for the redevelopment of the company's Botswana mines. I want to acknowledge and thank John Hick for his contributions to the growth and development of the company during his tenure as a director of PNRL and of North American Nickel and in particular for his leadership in various roles at the board level and for his continuing support and commitment to the success of the company."

About Premium Nickel Resources Ltd.

Premium Nickel 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.

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