Mr. Keith Morrison reports

PREMIUM RESOURCES LTD. ANNOUNCES NAME CHANGE

Premium Resources Ltd. has changed its name from Premium Nickel Resources Ltd. to Premium Resources Ltd. The name change was approved at the annual general and special meeting of shareholders held on Oct. 29, 2024.

Accordingly, it is anticipated that the company's common shares will commence trading under the new name and new stock ticker symbol PREM at the start of trading on Nov. 20, 2024, on the TSX Venture Exchange. In connection with the name change, the following new Cusip 74061L104 and ISIN CA74061L1040 numbers have been assigned to the common shares of the company.

The name change is being proposed to more accurately reflect the company's current projects and focus on a broader range of critical metals than nickel. The company's flagship asset is the Selebi project, a nickel-copper-cobalt sulphide past-producing mine. The company's Selkirk project is a nickel-copper-cobalt and platinum group elements sulphide past-producing mine. Management believes that the name change is in the best interest of shareholders and better reflects the company's overall business strategy, projects, mission and vision.

No action is required to be taken by shareholders with respect to the name change. Outstanding common share and warrant certificates bearing the old name of the company are still valid and are not affected by the name and ticker symbol change.

About Premium Resources Ltd.

Premium 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.

Premium Resources is committed to governance through transparent accountability and open communication within its team and its stakeholders. Premium Resources' 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 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.

We seek Safe Harbor.