An unknown buyer entered into a binding letter agreement to acquire 24.9% stake in Premium Exploration USA, Inc. from Premium Exploration, Inc. (TSXV:PEM) for CAD 0.2 million on August 29, 2013. The buyer will purchase 249 common shares of Premium Exploration USA pay CAD 0.2 million in advance. Premium Exploration, Inc. has proposed a consolidation of all of its issued and outstanding securities on a 10:1 basis. The transaction is subject to approval of Premium Exploration's Board of Directors and TSX Venture Exchange and if TSX Venture Exchange approval is not obtained within 120 days from the date of the letter agreement, the buyer would transfer the shares to Premium Exploration, Inc. in exchange for 4.2 million post-consolidation common share purchase warrants of Premium Exploration and a cash payment of CAD 0.4 million. Each warrant will entitle the holder to purchase one common shares in the capital of Premium Exploration Inc. at a price of CAD 0.05 per share for a period of two years from the date of issuance. The proceeds will be used to pay statutorily required annual fees for Idaho Gold Project as well as other mining claims in Montana in order to renew Premium's ownership of the mineral claims comprising the majority of its projects. Christine Kopr of Corporate Communications acted as public relations advisor in the transaction.

An unknown buyer cancelled the acquisition of 24.9% stake in Premium Exploration USA, Inc. from Premium Exploration, Inc. (TSXV:PEM) on August 29, 2014.