Mr. Keith Morrison reports

PREMIUM NICKEL ANNOUNCES RESULTS OF ANNUAL GENERAL AND SPECIAL SHAREHOLDERS' MEETING INCLUDING NAME CHANGE

Premium Nickel Resources Ltd. has released results of its annual general and special meeting of shareholders held on Oct. 29, 2024. All proposed resolutions, each described in the notice of the meeting and management information circular of the company dated Sept. 19, 2024, were approved by the shareholders of the company.

The shareholders re-elected James Gowans (chairman), Don Newberry, Jason LeBlanc, Keith Morrison, Paul Martin, Mark Christensen, Norman MacDonald 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 was appointed as auditor for the company for the ensuing year. In addition, shareholders approved (i) the change of name of the company to Premium Resources Ltd. or such other name as may be approved by the board of directors of the company; (ii) the company's restricted share unit plan; and (iii) the previous grants of restricted share units.

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

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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