Premium Exploration Cancels Private Placement
09 Abril 2014 - 3:42PM
Access Wire
VANCOUVER, BC / ACCESSWIRE / Apr 9, 2014 - Premium Exploration
Inc. (TSX-V: PEM; OTC Pink Current: PMMEF) ("Premium" or the
"Company") announces that it is cancelling the proposed private
placement originally announced on February 7th, 2014.
The financing is being cancelled due to unfavourable market
conditions. Premium will continue to monitor the market and
identify appropriate opportunities as conditions improve.
About Premium Exploration Inc.
The Company's purpose is to efficiently and economically advance
their district sized Idaho Gold Project. The Idaho Gold project
contains three known deposits. The Friday deposit has an NI 43-101
compliant resource of:
- Indicated: 647,000 Au (20.1 MT @ 1.0 g/t Au with 0.45 g/t
cut-off)
- Inferred: 590,000 Au (20.9 MT @ 0.88 g/t Au with 0.45 g/t
cut-off)
The Deadwood deposit and the Buffalo Gulch oxide deposit both
have small historical gold resources and both are expandable.
Premium Exploration has commenced a preliminary economic study
envisioning underground mining of a high grade portion of the
Friday deposit.
For more information, please contact:
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|Mr. John Ryan | President&CEO |Peter J. Kletas | Investor Relations|
|P: (604) 682‐0243 |866‐999‐6251‐Toll Free |
|Fax: (604) 682‐2499 |604‐874‐7915‐Direct |
|E:jryan@premiumexploration.com|ir@premiumexploration.com |
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This press release contains certain "Forward-Looking Statements"
within the meaning of Section 21E of the United States Security
Exchange Act of 1934, and involves a number of risks and
uncertainties. Important factors that could cause actual results to
differ materially from the Company's expectations are disclosed in
the Company's documents filed from time to time under the Company's
profile on www.sedar.com in accordance with the policies and
requirements of the TSX Venture Exchange and applicable securities
law. All statements, other than of historical fact, included herein
are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate, and actual results and future events could
differ materially from those anticipated in such statements. There
are no assurances that the Company can fulfill such Forward-Looking
Statements and the Company undertakes no obligation to update such
statements.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE: Premium Exploration Inc.
(TSXV:PEM)
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