Premium Exploration Inc. announced Logan Resources Ltd. has announced an updated mineral resource estimate for the Deposit, one of six zones of known gold mineralization within the Idaho Gold Property, located in north-central Idaho, USA. The updated resource estimate at a 0.45 g/t Au cut-off increases the Friday Deposit to: Indicated: 647,000 oz from 629,000 oz, Inferred: 590,000 oz from 146,000 oz. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.

Mineral resources are amenable to open pit mining methods and have been constrained using a Lerches-Grossmann optimized pit. Assumptions include $1,500/oz Au, 85% Au recovery, $2.50/tonne mining cost, $2.00/tonne waste mining cost, $12.00/tonne process and G&A cost. No allowances have been made for mining losses and dilution.

Pit slope angle of 45deg. The company has elected to use a 0.045 g/t gold cut-off which is greater than the conceptual marginal cut-off of 0.36 g/t. Gold analyses are performed by fire assay/AA finish methods.