Oct. 18, 2010 (Marketwire) --

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/18/10 -- Premium Exploration Inc. (TSX VENTURE: PEM) ("Premium" or "the Company") is pleased to announce the release of the EM-56KHz post-processed image from the 3,700-plus line-km airborne geophysical survey conducted over 30 kilometres of strike length on the Orogrande Shear Zone in Central Idaho under Premium's control.

To view the +30-km Geophysical Image Map, please click: http://bit.ly/PEMAirborneGeophysics. To view the Geophysics & 3D Model Google Earth Video, please click: http://bit.ly/PEMGeophysics3DVideo.

The airborne geophysical image displays a zone of conductivity interpreted as the Orogrande Shear Zone and is intersected by numerous secondary structures.

The strong regional extent of the zone of conductivity correlates with known zones of gold mineralization at the Buffalo Gulch, Deadwood, and Friday-Petsite projects through soil geochemistry, current and historic drilling, links all five contiguous projects and the two known gold deposits located at either end of the Shear Zone.

"The geophysical image verifies the tremendous length and continuity of the OSZ; Phase-4 drill-planning for Q1-2011 is underway," states Michael Ostenson, P.Geo., VP Exploration.

In combination; the geophysical, geochemical, and geological data pinpoint superior drill targets and permitting is in progress for these locations.

Qualified Person

The 2010 Phase-Three exploration program is being directed by Michael Ostenson, P.Geo., VP Exploration of Premium Exploration Inc. Mr. Ostenson is a Qualified Person as defined by NI 43-101. Mr. Ostenson prepared, and approves of the content in this release.

About Premium Exploration Inc.

Premium is focused on the exploration and development of its district-sized Orogrande Shear Zone "OSZ" to fulfill its vision of developing a new mining district in North America. The OSZ is a 30 km-plus regionally-significant trending structure that correlates with multiple known zones of mineralization and has structural control to its gold mineralization, characteristics similar to many large gold belts, such as the Carlin Trend of Nevada. Development is ongoing at the bulk-tonnage Friday-Petsite Project, the most advanced of several known mineralized zones located along the OSZ and represents 4% of the OSZ under Premium's control. For additional information, please visit us at www.premiumexploration.com.