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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): August 15, 2024

 

PREMIUM RESOURCES LTD.

(Exact name of registrant as specified in its charter)

 

Ontario, Canada

(State or other jurisdiction of incorporation)

 

000-14740   N/A
(Commission File Number)   (IRS Employer Identification No.)
     

Suite 3400, One First Canadian Place

P.O. Box 130

Toronto, Ontario, Canada

  M5X 1A4
(Address of principal executive offices)   (Zip Code)

 

(604) 770-4334

(Registrant’s telephone number, including area code)

 

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
N/A   N/A   N/A

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 
 

 

Item 5.02Departure of Directors or Certain Offices; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

On September 18, 2024, John Hick retired from the Board of Directors (the “Board”) of Premium Resources Ltd. (the “Company”). On September 19, 2024, Paul Martin was appointed to the Board to fill the vacancy created by Mr. Hick’s retirement. In connection with his appointment to the Board, Mr. Martin was appointed to the Audit and Risk Management Committee and Human Resources and Compensation Committee of the Board. There are no arrangements or understandings between Mr. Martin and any other persons pursuant to which he was appointed to the Board. Mr. Martin is not a party to any transaction with the Company that would require disclosure under Item 404(a) of Regulation S-K. Mr. Martin will participate in the Company’s standard compensation program for non-employee directors. The Company’s press release announcing the foregoing items is attached hereto as Exhibit 99.4.

 

On December 2, 2024, the Company announced the retirement of Keith Morrison as Chief Executive Officer and a director of the Company, to take effect December 31, 2024. Paul Martin, a director of the Company, will assume oversight of corporate activities, and serve as the interim CEO, pending appointment of a successor. There are no arrangements or understandings between Mr. Martin and any other persons pursuant to which he was appointed interim CEO. As noted above, Mr. Martin is not a party to any transaction with the Company that would require disclosure under Item 404(a) of Regulation S-K. As noted above, Mr. Martin will continue to participate in the Company’s standard compensation program for non-employee directors rather than the Company’s executive compensation program. Effective upon the completion of the CEO search process, James K. Gowans will retire as Chair of the Board but continue as a director of the Company. Paul Martin will be appointed Chair of the Board. The Company’s press release announcing the foregoing items is attached hereto as Exhibit 99.16.

 

Mr. Martin, 63, is a mining executive with over thirty years’ experience at the CEO, CFO and director levels, in challenging and changing corporate environments. He has gained significant experience through his various roles at multi-operational mining, royalty and exploration companies listed on the Toronto Stock Exchange, TSX Venture Exchange and New York Stock Exchange. He currently serves as the Chair of the Board of Red Pine Exploration and as a director of Osisko Bermuda Limited. Mr. Martin was interim CEO at Osisko Gold Royalties Ltd. from July to December 2023 and at Red Pine Exploration from March to August 2024, in each case during CEO transition periods. He was previously President and CEO at Detour Gold Corporation from 2013 to 2018 and, prior to that, CFO at Detour from 2008 until 2013. He played a significant role on the senior executive team that permitted, completed a bankable feasibility study, financed, constructed and brought into operation the large-scale Detour Lake gold mine. Mr. Martin has worked in various senior financial roles at New Gold Inc., Gabriel Resources Ltd. and TVX Gold Inc. He has significant experience in governance matters related to publicly listed companies and holds the designation of CPA, CA.

 

 
 

 

Item 5.03Amendments to Articles of Incorporation or Bylaws; Change I Fiscal Year.

 

On November 15, 2024, the Company filed an amendment to its Articles to change its name to “Premium Resources Inc.,” effective November 15, 2024. The name change was approved by Shareholders at the Annual Meeting (as defined below) on October 29, 2024.

 

Copies of the Certificate of Amendment to the Articles, as filed with the Ministry of Government and Consumer Services under the Business Corporations Act (Ontario) are attached hereto as Exhibit 3.1 and incorporated herein by reference. The Company’s press release announcing the name change is attached hereto as Exhibit 99.14.

 

Item 5.07Submission of Matters to a Vote of Security Holders.

 

On October 29, 2024, the Company held its annual general and special meeting of shareholders (the “Annual Meeting”), at which five proposals were submitted to the Company’s shareholders. A quorum was present for the Annual Meeting. The eight director nominees were elected and all other matters were approved by shareholders. The voting results with respect to each matter are set out below. The Company’s press release announcing the Annual Meeting results is attached hereto as Exhibit 99.11.

 

Proposal #1

 

To elect eight (8) directors of the Company for the ensuing year.

 

Name   For   Against   Withheld/Abstain   Non Vote
Mark Christensen   73,980,664   0   1,383,229   3,383,029
James Gowans   69,325,279   0   6,038,614   3,883,029
Jason LeBlanc   74,793,564   0   570,329   3,883,029
Normal MacDonald   75,006,564   0   357,329   3,883,029
Paul Martin   69,663,934   0   5,699,959   3,883,029
Keith Morrison   65,592,935   0   9,770,958   3,883,029
Don Newberry   68,597,156   0   6,766,737   3,883,029
William O’Reilly   72,037,362   0   3,326,531   3,883,029

 

Proposal #2

 

To appoint the independent auditor of the Company for the ensuing year and to authorize the directors of the Company to fix the remuneration to be paid to the auditor.

 

For   Against   Withheld/Abstain   Non Vote
78,896,624   0   350,298   0

 

Proposal #3

 

To consider and, if thought fit, pass a special resolution approving the change of name of the Company from “Premium Nickel Resources Ltd.” to “Premium Resources Ltd.”.

 

For   Against   Withheld/Abstain   Non Vote
78,915,401   331,521   0   0

 

 
 

 

Proposal #4

 

To consider and, if thought fit, pass, with or without variation, an ordinary resolution approving the Company’s restricted share unit plan.

 

For   Against   Withheld/Abstain   Non Vote
43,645,701   31,718,192   0   3,883,029

 

Proposal #5

 

To consider and, if thought fit, pass, with or without variation, an ordinary resolution of disinterested shareholders approving and ratifying the previous grants of restricted share units.

 

For   Against   Withheld/Abstain   Restricted   Non Vote
38,032,079   35,650,684   0   1,681,130   3,883,029

 

Item 7.01Regulation FD Disclosure.

 

On each of August 15, September 5, September 17, September 19, September 20, September 26, October 17, October 22, October 24, October 28, October 30, November 11, November 13, November 18, November 27, December 2, December 5, December 10 and December 23, 2024, the Company issued press releases announcing the matters disclosed in this Current Report on Form 8-K, which are attached as Exhibits 99.1, 99.2, 99.3. 99.4, 99.5, 99.6, 99.7, 99.8, 99.9, 99.10, 99.11, 99.12, 99.13, 99.14, 99.15, 99.16, 99.17, 99.18 and 99.19, respectively, hereto.

 

Cautionary Statements to Investors on Reserves and Resources

 

Certain news releases furnished herewith use the terms “mineral resources”, “indicated mineral resources” and “inferred mineral resources” as such terms are defined under Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”). NI 43-101 is a rule developed by the Canadian Securities Administrators, which establishes standards for all public disclosure a Canadian issuer makes of scientific and technical information concerning mineral projects.

 

On October 31, 2018, the SEC adopted new mining disclosure rules (“S-K 1300”) that are more closely aligned with current industry and global regulatory practices and standards, including NI 43-101, with which we comply because we are also a “reporting issuer” under Canadian securities laws. While S-K 1300 is more closely aligned with NI 43-101 than the prior mining disclosure rules of the Securities and Exchange Commission, there are some differences. Accordingly, there is no assurance any mineral resources that the Company may report as “indicated mineral resources” and “inferred mineral resources” under NI 43-101 will be the same as the reserve or resource estimates prepared under S-K 1300. Investors should not assume that any part or all of indicated mineral resources or inferred mineral resources will ever be converted into a higher category of mineral resources or into mineral reserves. Mineralization described using these terms has a greater amount of uncertainty as to their existence and feasibility than mineralization that has been characterized as reserves. Accordingly, investors are cautioned not to assume that any “indicated mineral resources”, or “inferred mineral resources” on the Company’s projects are or will be economically or legally mineable. Further, “inferred resources” have a greater amount of uncertainty as to their existence and as to whether they can be mined legally or economically. Therefore, investors are also cautioned not to assume that all or any part of the inferred resources exist. In accordance with Canadian rules, estimates of “inferred mineral resources” cannot form the basis of feasibility or other economic studies, except in limited circumstances where permitted under NI 43-101.

 

 
 

 

In accordance with General Instruction B.2 of Form 8-K, the information in Item 7.01 is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any of the Company’s filings or other documents filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

 

Item 9.01Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No.   Description
3.1   Certificate and Articles of Amendment dated November 15, 2024
99.1   Press Release dated August 15, 2024*
99.2   Press Release dated September 5, 2024*
99.3   Press Release dated September 17, 2024*
99.4   Press Release dated September 19, 2024
99.5   Press Release dated September 20, 2024*
99.6   Press Release dated September 26, 2024*
99.7   Press Release dated October 17, 2024
99.8   Press Release dated October 22, 2024*
99.9   Press Release dated October 24, 2024*
99.10   Press Release dated October 28, 2024*
99.11   Press Release dated October 30, 2024
99.12   Press Release dated November 11, 2024*
99.13   Press Release dated November 13, 2024*
99.14   Press Release dated November 18, 2024
99.15   Press Release dated November 27, 2024*
99.16   Press Release dated December 2, 2024
99.17   Press Release dated December 5, 2024*
99.18   Press Release dated December 10, 2024*
99.19   Press Release dated December 23, 2024*
104   Cover Page Interactive Data File (embedded within Inline XBRL document).

 

*Furnished herewith.

 

 
 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

PREMIUM RESOURCES LTD.

(Registrant)

   
  By: /s/ Timothy H. Moran
    Timothy H. Moran
Chief Legal Officer

 

Date: December 31, 2024

 

 

 

 

Exhibit 3.1

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 

 

 

Exhibit 99.1

 

August 15, 2024

 

Premium Nickel Resources Ltd. Grants Stock Options

 

Toronto, Ontario—(Newsfile Corp. - August 15, 2024) - Premium Nickel Resources Ltd. (TSXV: PNRL) (“PNRL” or the “Company”) announces that, effective August 14, 2024, it has granted to certain directors, officers, employees and/or consultants of the Company and/or its subsidiaries an aggregate of 3,110,000 stock options of the Company (“Options”) pursuant to the stock option plan of the Company.

 

The Options have an exercise price of $1.10 per share and a five-year term from the date of grant, and vest annually in equal thirds beginning on the date of grant.

 

About Premium Nickel Resources Ltd.

 

PNRL 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.

 

PNRL is committed to governance through transparent accountability and open communication within our team and our stakeholders. Our 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. PNRL’s 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.

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

Keith Morrison

Director and Chief Executive Officer

Premium Nickel Resources Ltd.

 

For further information about Premium Nickel Resources Ltd., please contact:

 

Jaclyn Ruptash

Vice President, Communications and Government and Investor Relations

+1 (604) 770-4334

 

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

 

Follow Us

 

X (formally Twitter): https://twitter.com/PremiumNickel

Linked in: https://www.linkedin.com/company/premium-nickel-resources

Facebook: https://www.facebook.com/PremiumNickel

 

 

 

 

Exhibit 99.2

 

September 5, 2024

 

Premium Nickel Expands Deposit While Advancing Infill Drilling at Selebi North: Assays Include 26.35 Metres 4.31% CuEq OR 2.09% NiEq

 

View Core Photos Page Here

 

“Ongoing underground drilling at Selebi North totaling approximately 20,000 metres has been completed, in addition to the approximately 30,000 metres reflected in the initial mineral resource estimate. Infill drilling is designed to upgrade classification in the mineral resource estimate from Inferred into Indicated, which is required for future Pre-Feasibility Studies. We are also preparing to move underground and start the process of infill drilling to upgrade the classification of the Selebi Main resources and expand on the deposit. With this data and potential future underground infrastructure development, we are better positioned to effectively evaluate additional upside potential between the known Selebi North and Selebi Main deposits.”- CEO, Keith Morrison

 

Toronto, Ontario—(Newsfile Corp. - September 5, 2024) - Premium Nickel Resources Ltd. (TSXV: PNRL) (“PNRL” or the “Company”) announces additional high-grade assay results for a further six holes from drilling at its past-producing nickel-copper-cobalt sulphide (“Ni-Cu-Co”) Selebi North underground (“SNUG”) mine in Botswana.

 

Highlights include:

 

  SNUG-24-106 (South Limb): infill drilling targeting re-classification of Inferred to Indicated Resources)

 

26.35 metres of 4.31% CuEq or 2.09% NiEq (1.09% Cu, 1.56% Ni, 0.08% Co) incl. 16.10 metres of 5.87% CuEq or 2.84% NiEq (1.54% Cu, 2.10% Ni, 0.11% Co)

 

  SNUG-24-107 (South Limb): infill drilling targeting re-classification of Inferred to Indicated Resources)

 

8.40 metres of 7.04% CuEq or 3.41% NiEq (2.64% Cu, 2.13% Ni, 0.11% Co)

 

  SNUG-24-096-W1 (South Limb and N2): intersected significant mineralization 100 metres down plunge of 2024 initial mineral resource estimate (“MRE”). Borehole electromagnetic (“BHEM”) results pending

 

  SNUG-24-146 (South Limb): infill drilling targeting re-classification of Inferred to Indicated Resources)

 

 

 

 

This is the first set of assays not included in the MRE for the Selebi Mines in Botswana (see news released issued on August 8, 2024, titled: Premium Nickel Resources Ltd. Announces Its Initial Mineral Resource Estimate of 27.7 MT for the Selebi Mines in Botswana). Details of the assay results are shown below along with accompanying visuals (Figure 1, Figure 2 and Figure 3). Drill core photos for all highlighted holes released to date, including the holes reported herein, are accessible by Clicking Here and can also be found on the Company’s website at www.premiumnickel.com.

 

Keith Morrison, CEO of PNRL, commented: “When we acquired these permitted projects in January 2022, our strategy was to recharacterize the remaining resources, achieve NI 43-101 compliance and advance to a Pre-Feasability Study as part of an accelerated path to production. This release highlights the successful exploration strategy that has further extended the mineralization at Selebi North beyond the MRE. We work from known mineralization and use BHEM to image mineralization down plunge. BHEM data in SNUG-24-096-W1, when available, is expected to provide direct evidence of the up-side potential at depth and any change in the fold morphology. Our strategy prioritizes time and cost efficiencies beginning with data compilation, geological analysis and economic studies to meet our goal of production by late 2027.

 

Ongoing underground drilling at Selebi North totaling approximately 20,000 metres has been completed, in addition to the approximately 30,000 metres reflected in the initial mineral resource estimate. Infill drilling is designed to upgrade classification in the mineral resource estimate from Inferred into Indicated which is required for future Pre-Feasibility Studies. We are also preparing to move underground and start the process of infill drilling to upgrade the classification of the Selebi Main Resources and expand on the deposit. With this data and potential future underground infrastructure development, we are better positioned to effectively evaluate additional upside potential between the known Selebi North and Selebi Main deposits.”

 

Assay results are provided below in Table 1 for SNUG-24-106, 107, 109, 110, 113 and 115; hole collar details are provided in Table 2.

 

True width of mineralization was estimated using the wireframe as part of the MRE (see news release August 8, 2024). Figures 1 through 3 show the location of the holes relative to the MRE and underground infrastructure.

 

 

 

 

Table 1: Assay Results Selebi North Deposit

 

Hole-ID   From
(m)
  To
(m)
  Length
(m)
  Est. True
Thickness
(m)
  Cu
(%)
  Ni
(%)
  Co
(%)
  Limb   CuEq
(%)
  NiEq
(%)
SNUG-24-106   515.70   542.05   26.35   15   1.09   1.56   0.08   South   4.31   2.09
incl.   525.95   542.05   16.10   11   1.54   2.10   0.11   South   5.87   2.84
SNUG-24-107   521.20   529.60   8.40   5   2.64   2.13   0.11   South   7.04   3.41
SNUG-24-109   383.75   391.90   8.15   5   1.21   0.80   0.04   N2   2.87   1.39
SNUG-24-110   547.40   566.40   19.00   6   0.76   1.39   0.07   N2   3.63   1.76
incl.   550.15   560.65   10.50   3.5   1.10   1.55   0.08   N2   4.29   2.08
SNUG-24-110   588.05   604.60   16.55   9   0.64   0.67   0.04   N2   2.03   0.98
incl.   592.05   600.25   8.20   4.5   0.46   0.89   0.05   N2   2.31   1.12
SNUG-24-113   577.40   597.60   20.20   11.5   1.15   1.03   0.05   South   3.28   1.59
incl.   577.40   587.80   10.40   6   1.71   1.31   0.07   South   4.42   2.14
SNUG-24-115   478.40   494.10   15.70   14   1.19   0.67   0.03   South   2.58   1.25
incl.   478.40   486.10   7.70   7   1.51   0.73   0.03   South   3.02   1.47

 

1 Length refers to drillhole length.

2 True thickness is estimated using the MRE wireframe.

3 Co is not included in the current MRE as cobalt analyses are not consistently available throughout the deposit.

4 CuEq was calculated using the formula CuEq=Cu+2.06*Ni.

5 NiEq was calculated using the formula NiEq=Ni+0.485*Cu.

6 Assuming long-term prices of US$10.50/lb Ni and US$4.75/lb Cu nickel and copper recoveries of 72.0% and 92.4% respectively, derived from metallurgical studies which consider a conceptual bulk concentrate scenario.

 

Table 2: Drill Collar Information Selebi North Deposit

 

HOLE ID   Mine East   Mine North   Elevation   Dip   Mine Azimuth   Hole Length   Comment
SNUG-24-106   35367.5   84408.0   81.29   -70.38   196.64   593.79   Rig #2 P5 810mL
SNUG-24-107   35377.5   84424.0   81.13   -70.97   185.97   581.38   Rig #3 P4 810mL
SNUG-24-109   35320.8   84606.4   82.39   -46.31   260.69   428.07   Rig #1 P6 810mL
SNUG-24-110   35365.9   84408.8   81.08   -70.36   227.49   635.53   Rig #2 P5 810mL
SNUG-24-113   35367.4   84408.2   81.13   -66.80   189.53   722.75   Rig #2 P5 810mL
SNUG-24-115   35378.8   84424.5   81.20   -70.96   203.30   540.00   Rig #3 P4 810mL

 

 

 

 

Drilling and BHEM Continues

 

Two drills are currently active on the 810-metre level exploration drift, and the third drill is on a new drill bay on the 925-metre level. The drill bay located at the southern most extent of the 810-metre level exploration drift allows for the evaluation of areas further down plunge of the deposit. The drill positioned approximately 130 metres east of the exploration, perpendicular to the main 810-metre level exploration drift, allows for optimal intersection angles on the South Limb and N2 Limb. The drill positioned on 925-metre level allows for testing of the lower portions of both limbs of N3 and their down plunge extents. BHEM surveys continue, with a total of 40 holes surveyed, including a survey in the deepest down-plunge hole, SNUG-24-096-W1. BHEM data from this hole is pending.

 

As of September 3, 2024, a total of 51,612 metres in one hundred and twenty-eight (128) drillholes have been drilled from eight underground drill bays with three of those drillholes currently in-progress. Drilling totaling 21,628 meters across 43 completed holes with 3 more in progress, is not included in the MRE. This new drilling is a combination of infill and exploration drilling to follow the extension of the mineralization down dip and down plunge.

 

New assay results not captured in the MRE will be published as they are received and verified by the Company. Due to the extensive drilling that has intersected mineralization, the Company has released assay results only for the most significant intercepts. The results of these new drill holes will be included in a future mineral resource update, with the goal of both expansion and reclassification of the current MRE. PNRL anticipates that these pending results combined with future drilling will support the progression towards a Pre-Feasibility Study.

 

Quality Control

 

The underground drilling program is being carried out through an agreement with Forage Fusion Drilling Ltd. of Hawkesbury, Ontario, Canada, who have provided three Zinex U-5 drills for purchase and training of local operators. Drill core samples are BQTK (40.7 mm diameter). All samples are ½ core cut by a diamond saw on site. Half of the core is retained for reference purposes. Samples are generally 1.0 to 1.5 metre intervals or less at the discretion of the site geologists. Sample preparation and lab analysis was completed at ALS Chemex in Johannesburg, South Africa. Commercially prepared blank samples and certified Cu/Ni sulphide analytical control standards with a range of grades are inserted in every batch of 20 samples or a minimum of one set per sample batch. Analyses for Ni, Cu and Co are completed using a peroxide fusion preparation and ICP-AES finish (ME-ICP81).

 

 

 

 

Holes are numbered as follows: SNUG (Selebi North Underground) + year + hole number starting at 013.

 

BHEM Surveys

 

The BHEM surveys at Selebi utilize the Crone PEM system operated by local Batswana staff. Survey data is collected using a 3 component fluxgate probe collecting full waveform data. Surveys have been collected using timebases between 50 and 1000ms (0.25 Hz to 5 Hz). The data has been processed to a calculated residual step response to better quantify the conductive sources. This added processing has proven to be invaluable because of the size of the highly conductive mineralized system.

 

Qualified Person

 

The scientific and technical content of this news release has been reviewed and approved by Sharon Taylor, Vice President Exploration of the Company, who is a “qualified person” for the purposes of NI 43-101.

 

Technical Report

 

Scientific and technical information relating to the Selebi Mine is supported by the technical report titled “Technical Report on the Selebi Mines, Central District, Republic of Botswana, Report for NI 43-101”, dated June 16, 2022 (effective date of March 1, 2022) (the “Selebi Technical Report”), and prepared by SLR Consulting (Canada) Ltd. for PNRL. Reference should be made to the full text of the Selebi Technical Report, including the assumptions, limitations and data verification therein relating to the historic data compilation presented in this news release, which was prepared in accordance with NI 43-101 and is available electronically on SEDAR+ (www.sedarplus.com) under PNRL’s issuer profile.

 

An updated NI 43-101 Technical Report will be released in the coming weeks days to support the recent publication by PNRL of a mineral resource estimate on August 8, 2024.

 

 

 

 

Historic Resource Estimate

 

The historical mineral resource estimate referenced herein (the “Historic Resource”) was calculated for the Selebi North and Selebi Main, in accordance with SAMREC, in 2016 prior to the acquisition of the property by the Company. To that end, the Historic Resource is considered to be historical in nature and should not be relied upon as a current mineral resource estimate. While management believes that the Historic Resource could be indicative of the presence of mineralization on the deposits, it has been superseded by the mineral resource estimate disclosed on August 8, 2024.

 

About Premium Nickel Resources Ltd.

 

PNRL 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.

 

PNRL is committed to governance through transparent accountability and open communication within our team and our stakeholders. Our 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. PNRL’s 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.

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

Keith Morrison

Director and Chief Executive Officer

Premium Nickel Resources Ltd.

 

For further information about Premium Nickel Resources Ltd., please contact:

 

Jaclyn Ruptash

Vice President, Communications and Government and Investor Relations

+1 (604) 770-4334

 

 

 

 

Cautionary Note Regarding Forward-Looking Statements:

 

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. For the purposes of this release, forward looking information includes, but is not limited to: the ability of the Company to implement its drilling, geoscience and metallurgical work on its properties and work plans generally; the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selebi Mines as currently contemplated; the ability of exploration activities (including drill results) to accurately predict mineralization; management’s belief that the Selebi and Selebi North deposits may be connected at depth; the timing to release of the remaining assay results; the ability of the Company to implement its drilling, geoscience and metallurgical work on its properties and work plans generally; the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selebi Mines as currently contemplated; the ability of the Company to define mineral resource estimates on the Selebi Mines in accordance with NI 43-101 and/or obtain an updated MRE in respect of the Selebi Mines; the productivity rates for underground drilling at Selebi North; drilling results confirming the legacy fold pattern continues at depth; the effective targeting activities proposed by the Company; the ability to identify mineralization down plunge of existing workings and the ability of such findings to be used to complete a MRE and/or to support further economic studies the ability and timing of advancing the underground drilling program at Selebi North as contemplated (if at all); the ability to expand the resource potential at the Selebi Mine; the results of the drill program on Selebi North and the timing and disclosures of the Company regarding same; the relationships between, and continuity of, the various deposits (if any); the benefits of the Company’s approach to exploration; and the anticipated benefits of the Company’s approach to the resource development plan. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; the ability of exploration results to predict mineralization or the feasibility of mine production; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.com) under PNRL’s issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

 

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 news release.

 

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Figure 1: Selebi North: Location of Reported Drill Holes with Underground Infrastructure, PNRL Mineral Resource Estimate, Exploration Targets and modeled BHEM plates.

 

To view an enhanced version of this graphic, please visit:

 

https://images.newsfilecorp.com/files/7759/222208_923d4f95b40f0b09_003full.jpg

 

 

 

 

 

Figure 2: Selebi North: Location of Reported Drill Holes with Underground Infrastructure, PNRL Mineral Resource Estimate and Exploration Targets

 

To view an enhanced version of this graphic, please visit:

 

https://images.newsfilecorp.com/files/7759/222208_923d4f95b40f0b09_004full.jpg

 

 

Figure 3: Detailed view showing location of drillholes reported and mentioned in this release.

 

To view an enhanced version of this graphic, please visit:

 

https://images.newsfilecorp.com/files/7759/222208_923d4f95b40f0b09_005full.jpg

 

View Core Pho tos Page Here

 

 

 

 

Exhibit 99.3

 

September 17, 2024

 

High Grade Drill Results: 3.55 Metres of 5.52% CuEq or 2.68% NiEq Including 2.35 Metres of 7.80% CuEq or 3.78% NiEq from Selebi North

 

View Core Photos Page Here

 

“The poly-metallic nature of our deposits offers the opportunity for PNRL to be competitive in multiple commodity markets, specifically in copper but also in cobalt and PGE, in addition to nickel. However, we continue to experience what we see as a significant disconnect between the Company’s share price and the value of the Selebi and Selkirk assets and consistently positive information and milestones achieved to date. These permitted mines continue to demonstrate that the deposits are larger than previously understood. The deposits come with existing infrastructure, including two operating shafts, a substantial network of underground infrastructure, rail, power and roads that will enable PNRL to move faster to production without incurring the full costs of building a new mine.” - CEO, Keith Morrison

 

Toronto, Ontario—(Newsfile Corp. - September 17, 2024) - Premium Nickel Resources Ltd. (TSXV: PNRL) (“PNRL” or the “Company”) provides additional high-grade assay results for a further three holes from drilling at its past-producing nickel-copper-cobalt sulphide (“Ni-Cu-Co”) Selebi North underground (“SNUG”) mine in Botswana. Drill core photos for all highlighted holes released to date, including the holes reported herein, are accessible by Clicking Here and can also be found on the Company’s website at www.premiumnickel.com. To view the 3D modeling, please visit the following link https://vrify.com/decks/16954.

 

Highlights include:

 

  SNUG-24-124 (South Limb): infill drilling targeting re-classification of Inferred to Indicated Resources.

 

3.55 metres of 5.52% CuEq or 2.68% NiEq (4.44% Cu, 0.53% Ni, 0.03% Co)

 

incl. 2.35 metres of 7.80% CuEq or 3.78% NiEq (6.40% Cu, 0.68% Ni, 0.04% Co)

 

  SNUG-24-096-W1 (South Limb and N2): BHEM results show strong anomaly indicating additional down-plunge up-side potential and have also outlined a change in the shape of the fold potentially signalling the transition between Selebi North and Selebi Main.

 

 

 

 

Keith Morrison, CEO of PNRL, commented: “The poly-metallic nature of our deposits offers the opportunity for PNRL to be competitive in multiple commodity markets, specifically in copper but also in cobalt and PGE, in addition to nickel. However, we continue to experience what we see as a significant disconnect between the Company’s share price and the value of the Selebi and Selkirk assets and consistently positive information and milestones achieved to date. These permitted mines continue to demonstrate that the deposits are larger than previously understood. The deposits come with existing infrastructure, including two operating shafts, a substantial network of underground infrastructure, rail, power and roads that will enable PNRL to move faster to production without incurring the full costs of building a new mine.

 

PNRL has completed approximately 23,000 metres of additional underground drilling that is not included in the recently announced MRE. The majority of this drilling is converting the MRE tonnages from Inferred to Indicated to be included in a future Pre-feasibility Study. I would also like to highlight that drill hole SNUG-24-096-W1 was drilled significantly down plunge of the lower extents of the MRE volume and has successfully intercepted massive sulphide mineralization over mineable widths, providing additional evidence that the Selebi North mineralization is open down plunge. The assays from SNUG-24-096-W1 are expected in 6 weeks. We continue to make positive progress at the Selebi Mine with the intention of moving toward the completion of a Pre-feasibility Study.”

 

These assays are not included in the initial Mineral Resource Estimate (“MRE”) for the Selebi Mines in Botswana (see news released issued on August 8, 2024, titled: Premium Nickel Resources Ltd. Announces Its Initial Mineral Resource Estimate of 27.7 MT for the Selebi Mines in Botswana). Details of the assay results are shown below along with accompanying visuals (Figure 1, Figure 2 and Figure 3).

 

Assay results are provided below in Table 1 for SNUG-24-117, 120 and 124; hole collar details are provided in Table 2.

 

True width of mineralization was estimated using the wireframe as part of the MRE (see news release August 8, 2024). Figures 1 through 3 show the location of the holes relative to the Selebi Mines MRE and underground infrastructure.

 

 

 

 

Table 1: Assay Results Selebi North Deposit

 

Hole-ID   From
(m)
  To
(m)
  1Length
(m)
  2Est. True
Thickness
(m)
  Cu
(%)
  Ni
(%)
  3Co
(%)
  Limb   4CuEq
(%)
  5NiEq
(%)
SNUG-24-117   431.60   450.16   18.56   14.0   1.33   0.54   0.03   South   2.45   1.19
incl.   431.60   435.05   3.45   2.6   1.08   1.12   0.08   South   3.39   1.64
and   440.25   450.16   9.91   7.6   1.87   0.54   0.02   South   2.99   1.45
and   446.60   450.16   3.56   2.7   2.35   0.87   0.04   South   4.14   2.01
SNUG-24-117   471.65   473.60   1.95   1.4   2.17   2.47   0.11   Other   7.26   3.52
SNUG-24-120   252.65   254.05   1.40   1.0   3.91   0.17   0.01   South   4.26   2.07
SNUG-24-120   256.50   288.80   32.30   25.5   1.10   0.96   0.05   South/N2 Crest   3.07   1.49
incl.   256.50   263.60   7.10   5.6   1.75   1.05   0.06   South   3.92   1.90
and   276.60   288.80   12.20   9.6   1.34   1.45   0.08   N2   4.32   2.10
SNUG-24-124   482.45   486.00   3.55   2.4   4.44   0.53   0.03   South   5.52   2.68
incl.   482.45   484.80   2.35   1.6   6.40   0.68   0.04   South   7.80   3.78
SNUG-24-124   493.00   506.05   13.05   6.0   1.75   1.01   0.05   South   3.83   1.86
incl.   493.00   498.80   5.80   2.6   0.95   1.80   0.09   South   4.66   2.26
SNUG-24-124   517.00   519.10   2.10   1.0   0.45   0.70   0.03   South   1.90   0.92
SNUG-24-124   534.05   535.50   1.45   0.6   2.39   0.23   0.01   N2   2.87   1.39
SNUG-24-124   548.30   550.85   2.55   1.2   0.72   1.58   0.08   N2   3.99   1.93

 

1Length refers to drillhole length.

2True thickness is estimated using the MRE wireframe.

3Co is not included in the current MRE as cobalt analyses are not consistently available throughout the deposit.

4CuEq was calculated using the formula CuEq=Cu+2.06*Ni assuming long-term prices of US$10.50/lb Ni and US$4.75/lb Cu nickel and copper recoveries of 72.0% and 92.4%, respectively, derived from metallurgical studies which consider a conceptual bulk concentrate scenario.

5NiEq was calculated using the formula NiEq=Ni+0.485*Cu assuming long-term prices of US$10.50/lb Ni and US$4.75/lb Cu nickel and copper recoveries of 72.0% and 92.4%, respectively, derived from metallurgical studies which consider a conceptual bulk concentrate scenario.

 

Table 2: Drill Collar Information Selebi North Deposit

 

HOLE ID   Mine East   Mine North   Elevation   Dip   Mine Azimuth   Hole Length   Comment
SNUG-24-117   35365.7   84409.2   81.1   -70.4   253.9   506.5   Rig #2 P5 810mL
SNUG-24-120   35321.0   84606.1   82.6   -40.4   248.0   398.1   Rig #1 P6 810mL
SNUG-24-124   35366.2   84409.7   81.2   -70.6   221.6   587.9   Rig #2 P5 810mL

 

Drilling and BHEM Continues

 

Two drills are currently active on the 810-metre level exploration drift, and the third drill is on a new drill bay on the 925-metre level. The drill bay located at the southern most extent of the 810-metre level exploration drift allows for the evaluation of areas further down plunge of the deposit. The drill positioned approximately 130 metres east of the exploration, perpendicular to the main 810-metre level exploration drift, allows for optimal intersection angles on the South Limb and N2 Limb. The drill positioned on 925-metre level allows for testing of the lower portions of both limbs of N3 and their down plunge extents.

 

 

 

 

BHEM surveys continue, with a total of 46 holes surveyed, including a recently completed survey in the deepest down-plunge hole, SNUG-24-096-W1. BHEM data from SNUG-24-096-W1 has identified additional down plunge potential at Selebi North. The results have also outlined a change in the shape of the fold potentially signalling the transition between Selebi North and Selebi Main. Follow-up drilling is planned to collect additional structural information. Results have been modeled and are shown in Figure 3.

 

As of September 14, 2024, a total of 53,697 metres in one hundred and thirty-five (135) drillholes have been drilled from eight underground drill bays with three of those drillholes currently in-progress. Drilling totaling 23,714 meters across 50 completed holes, with 3 more in progress, is not included in the MRE. This new drilling is a combination of infill and exploration drilling to follow the extension of the mineralization down dip and down plunge.

 

New assay results not captured in the MRE will be published as they are received and verified by the Company. Due to the extensive drilling that has intersected mineralization, the Company has released assay results only for the most significant intercepts. The results of these new drill holes will be included in a future Mineral Resource update, with the goal of both expansion and reclassification of the current MRE. It is PNRL’s ambition that these pending results combined with future drilling would support the progression towards a Pre-feasibility Study.

 

Quality Control

 

The underground drilling program is being carried out through an agreement with Forage Fusion Drilling Ltd. of Hawkesbury, Ontario, Canada, who have provided three Zinex U-5 drills for purchase and training of local operators. Drill core samples are BQTK (40.7 mm diameter). All samples are ½ core cut by a diamond saw on site. Half of the core is retained for reference purposes. Samples are generally 1.0 to 1.5 metre intervals or less at the discretion of the site geologists. Sample preparation and lab analysis was completed at ALS Chemex in Johannesburg, South Africa. Commercially prepared blank samples and certified Cu/Ni sulphide analytical control standards with a range of grades are inserted in every batch of 20 samples or a minimum of one set per sample batch. Analyses for Ni, Cu and Co are completed using a peroxide fusion preparation and ICP-AES finish (ME-ICP81).

 

Holes are numbered as follows: SNUG (Selebi North Underground) + year + hole number starting at 013.

 

 

 

 

BHEM Surveys

 

The BHEM surveys at Selebi utilize the Crone PEM system operated by local Batswana staff. Survey data is collected using a 3 component fluxgate probe collecting full waveform data. Surveys have been collected using timebases between 50 and 1000ms (0.25 Hz to 5 Hz). The data has been processed to a calculated residual step response to better quantify the conductive sources. This added processing has proven to be invaluable because of the size of the highly conductive mineralized system.

 

Qualified Person

 

The scientific and technical content of this news release has been reviewed and approved by Sharon Taylor, Vice President Exploration of the Company, who is a “qualified person” for the purposes of National Instrument 43-101 (“NI 43-101”).

 

Technical Report

 

Scientific and technical information relating to the Selebi Mine is supported by the technical report titled “Technical Report on the Selebi Mines, Central District, Republic of Botswana, Report for NI 43-101”, dated June 16, 2022 (effective date of March 1, 2022) (the “Selebi Technical Report”), and prepared by SLR Consulting (Canada) Ltd. for PNRL. Reference should be made to the full text of the Selebi Technical Report, including the assumptions, limitations and data verification therein relating to the historic data compilation, which was prepared in accordance with NI 43-101 and is available electronically on SEDAR+ (www.sedarplus.ca) under PNRL’s issuer profile.

 

An updated NI 43-101 Technical Report will be released in the coming days to support the recent publication by PNRL of a mineral resource estimate on August 8, 2024.

 

About Premium Nickel Resources Ltd.

 

PNRL 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.

 

PNRL is committed to governance through transparent accountability and open communication within our team and our stakeholders. Our 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. PNRL’s 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.

 

 

 

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

Keith Morrison

Director and Chief Executive Officer

Premium Nickel Resources Ltd.

 

For further information about Premium Nickel Resources Ltd., please contact:

 

Jaclyn Ruptash

Vice President, Communications and Government and Investor Relations

+1 (604) 770-4334

 

Cautionary Note Regarding Forward-Looking Statements:

 

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-Looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. For the purposes of this release, forward-looking information includes, but is not limited to: the ability of the Company to implement its drilling, geoscience and metallurgical work on its properties and work plans generally; the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selebi Mines as currently contemplated; the ability of exploration activities (including drill results) to accurately predict mineralization; management’s belief that the Selebi and Selebi North deposits may be connected at depth; the timing to release of the remaining assay results; the ability of the Company to implement its drilling, geoscience and metallurgical work on its properties and work plans generally; the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selebi Mines as currently contemplated; the ability of the Company to define mineral resource estimates on the Selebi Mines in accordance with NI 43-101 and/or obtain an updated MRE in respect of the Selebi Mines; the productivity rates for underground drilling at Selebi North; drilling results confirming the legacy fold pattern continues at depth; the effective targeting activities proposed by the Company; the ability to identify mineralization down plunge of existing workings and the ability of such findings to be used to complete a MRE and/or to support further economic studies the ability and timing of advancing the underground drilling program at Selebi North as contemplated (if at all); the ability to expand the resource potential at the Selebi Mine; the results of the drill program on Selebi North and the timing and disclosures of the Company regarding same; the relationships between, and continuity of, the various deposits (if any); the benefits of the Company’s approach to exploration; and the anticipated benefits of the Company’s approach to the resource development plan. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; the ability of exploration results to predict mineralization or the feasibility of mine production; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca) under PNRL’s issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

 

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 news release.

 

Follow Us

 

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Linked in: https://www.linkedin.com/company/premium-nickel-resources

Facebook: https://www.facebook.com/PremiumNickel

 

 

 

 

 

Figure 1: Selebi North: Location of Reported Drill Holes with Underground Infrastructure, PNRL Mineral Resource Estimate, Exploration Targets and modeled BHEM plates.

 

To view an enhanced version of this graphic, please visit:

 

https://images.newsfilecorp.com/files/7759/223574_9176840154e2499d_003full.jpg

 

 

 

 

 

Figure 2: Selebi North: Location of Reported Drill Holes with Underground Infrastructure, PNRL Mineral Resource Estimate

 

To view an enhanced version of this graphic, please visit:

 

https://images.newsfilecorp.com/files/7759/223574_9176840154e2499d_004full.jpg

 

 

Figure 3: Detailed view showing location of drillholes reported and mentioned in this release.

 

To view an enhanced version of this graphic, please visit:

 

https://images.newsfilecorp.com/files/7759/223574_9176840154e2499d_005full.jpg

 

 

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223574

 

View Core Photos Page Here

 

 

 

 

Exhibit 99.4

 

September 19, 2024

 

Premium Nickel Resources Ltd. Announces Board Changes

 

Toronto, Ontario—(Newsfile Corp. - September 19, 2024) - Premium Nickel Resources Ltd. (TSXV: PNRL) (“PNRL” or the “Company”) is pleased to announce the appointment of Mr. Paul Martin to the Board of Directors of the Company. Mr. Martin was appointed to the Board effective immediately, to fill a vacancy resulting from the retirement from the Board of Mr. John Hick.

 

Mr. Martin is a mining executive with over thirty years’ experience at the CEO, CFO and director levels, in challenging and changing corporate environments. He has gained significant experience through his various roles at multi-operational mining, royalty and exploration companies listed on the Toronto Stock Exchange, TSX Venture Exchange and New York Stock Exchange. He currently serves as the Chair of the Board of Red Pine Exploration and as a director of Osisko Bermuda Limited. Mr. Martin was interim CEO at Osisko Gold Royalties Ltd. from July to December 2023 and at Red Pine Exploration from March to August 2024, in each case during CEO transition periods. He was previously President and CEO at Detour Gold Corporation from 2013 to 2018 and, prior to that, CFO at Detour from 2008 until 2013. He played a significant role on the senior executive team that permitted, completed a bankable feasibility study, financed, constructed and brought into operation the large-scale Detour Lake gold mine. Mr. Martin has worked in various senior financial roles at New Gold Inc., Gabriel Resources Ltd. and TVX Gold Inc. He has significant experience in governance matters related to publicly listed companies and holds the designation of CPA, CA.

 

John Hick has been a director of the Company since August, 2022, and prior to that Mr. Hick was a director of the Company’s predecessor, North American Nickel, Inc., from February 2021. Mr. Hick has served at various times as the Lead Director of the Company, the Chair of its Audit Committee and the Chair of its Compensation Committee.

 

With Mr. Hick’s retirement from the Board, and the appointment of Mr. Martin as a director, the Board now consists of eight directors, namely James Gowans (Chair), Mark Christensen, Jason LeBlanc, Norman MacDonald, Paul Martin, Keith Morrison, Don Newberry and William O’Reilly.

 

Keith Morrison, CEO of PNRL, commented: “I welcome Paul to PNRL. Paul brings to the Board the benefit of his many years of direct relevant experience in international mining finance, strategic planning, project development and operations, and governance. He has important contributions to make as we move forward with our plans for the redevelopment of the Company’s Botswana mines. I want to acknowledge and thank John Hick for his contributions to the growth and development of the Company during his tenure as a Director of PNRL and of North American Nickel, and in particular for his leadership in various roles at the Board level and for his continuing support and commitment to the success of the Company.”

 

 

 

 

About Premium Nickel Resources Ltd.

 

PNRL 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.

 

PNRL is committed to governance through transparent accountability and open communication within our team and our stakeholders. Our 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. PNRL’s 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.

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

Keith Morrison

Director and Chief Executive Officer

Premium Nickel Resources Ltd.

 

For further information about Premium Nickel Resources Ltd., please contact:

 

Jaclyn Ruptash

Vice President, Communications and Government and Investor Relations

+1 (604) 770-4334

 

Cautionary Note Regarding Forward-Looking Statements:

 

Certain statements contained in this news release may be considered “forward-looking statements” within the meaning of applicable Canadian securities laws, including: the intention to add new directors to the Board, anticipated key qualifications of such new directors, the intention to appoint an independent Chair of the Board and the intention to advance the Company’s Botswana assets. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Forward-looking statements are not guarantees of performance. Words such as “may”, “will”, “would”, “could”, “expect”, “believe”, “plan”, “anticipate”, “intend”, “estimate”, “continue”, or the negative or comparable terminology, as well as terms usually used in the future and the conditional, are intended to identify forward-looking statements. Information contained in forward-looking statements reflects assumptions that management believes to be appropriate in the circumstances. The Company considers its assumptions to be reasonable based on information currently available but cautions the reader that their assumptions regarding future events, many of which are beyond the control of the Company, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect the Company and its businesses.

 

The forward-looking statements set forth herein concerning the Company reflect management’s expectations as at the date of this news release and are subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law.

 

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

 

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Exhibit 99.5

 

September 20, 2024

 

Premium Nickel Files NI 43-101 Technical Report: Initial Mineral Resource Estimate of 27.7 MT for the Selebi Mine in Botswana

 

Toronto, Ontario—(Newsfile Corp. - September 20, 2024) - Premium Nickel Resources Ltd. (TSXV: PNRL) (“PNRL” or the “Company”) is pleased to announce that the Company has filed an initial Mineral Resource Estimate (“MRE”) titled “Technical Report, Selebi Mines, Central District, Republic of Botswana” (the “Technical Report”) and dated September 20, 2024 (with an effective date of June 30, 2024) on its past-producing copper-nickel-cobalt (“Cu-Ni-Co”) sulphide Selebi Main and Selebi North deposits (together, the “Selebi Mine”) in Botswana.

 

The Technical Report has been prepared by SLR Consulting (Canada) Ltd. (“SLR”) in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”), and is available electronically on the Company’s website (www.premiumnickel.com) and on SEDAR+ (www.sedarplus.ca) under PNRL’s issuer profile.

 

Download the 2024 Selebi NI 43-101 MRE Technical Report Here

 

There are no material differences between the Technical Report and the information presented in this news release, and the results disclosed in the Company’s news release dated August 8, 2024 and titled “Premium Nickel Resources Ltd. Announces Its Initial Mineral Resource Estimate of 27.7 MT for the Selebi Mines in Botswana”.

 

Highlights:

 

Selebi Main Deposit MRE tonnage is 67% larger than the Historic Resource (as defined herein)

 

Inferred Mineral Resource Estimate of 18.89 million tonnes at 3.51% CuEq or 1.70% NiEq.

 

Contained metal Inferred - 165,000 tonnes nickel and 319,000 tonnes copper.

 

Selebi North Deposit MRE tonnage is 90% larger than the Historic Resource

 

Indicated Mineral Resource Estimate of 3.00 million tonnes at 2.92% CuEq or 1.42% NiEq.

 

Contained metal Indicated - 29,000 tonnes nickel and 27,000 tonnes copper.

 

 

 

 

Inferred Mineral Resource Estimate of 5.83 million tonnes at 3.11% CuEq or 1.51% NiEq.

 

Contained metal Inferred - 62,000 tonnes nickel and 52,000 tonnes copper.

 

While not included in this initial MRE, Cobalt, which may offer additional economic value, is undergoing analysis as part of external studies to assess its payability.

 

CEO Keith Morrison commented: “The response to the initial MRE in Botswana has been extremely positive. The support for the redevelopment of the Selebi Mines from the National Government to local stakeholders is ongoing and has been widely encouraging. Drilling at Selebi North underground is ongoing and is designed to upgrade the Inferred resources to Indicated, while exploration drilling and BHEM surveys continue to highlight expansion potential down-dip and down-plunge of the existing resources which will be included in an updated MRE. The Company is also carrying out trade-off studies which will be used to support a future Pre-Feasibility Study (PFS).”

 

Qualified Persons

 

The MRE described in this news release has been reviewed and approved by Valerie Wilson, M.Sc., P.Geo. (Ontario) and a Principal Resource Geologist at SLR Consulting Ltd., who is independent of PNRL and a “qualified person” for purposes of NI 43-101.

 

Verification included a site visit to inspect mineralization in underground workings, active drilling, mineralized core, logging, density measurement procedures and sampling procedures, and a review of the control sample results used to assess laboratory assay quality. In addition, 100% of samples collected by PNRL have been verified against independently accessed assay certificates and a random selection of historical database results have been compared against original paper and digital records.

 

The scientific and technical content of this news release has been reviewed and approved by Sharon Taylor, Vice President Exploration of the Company, who is a “qualified person” for the purposes of NI 43-101.

 

Technical Report

 

The MRE on the Selebi Mine is supported by the Technical Report. Reference should be made to the full text of the Technical Report for the assumptions, qualifications and limitations set forth therein, a copy of which is available on SEDAR+ (www.sedarplus.ca) under PNRL’s issuer profile.

 

 

 

 

Historic Resource Estimate

 

The historical mineral resource estimate referenced herein (the “Historical Resource”) was calculated for the Selebi North, Selebi Main, Phikwe South and Southeast Extension deposits in accordance with the South African Mineral Resource Committee (SAMREC), in 2016, and does not comply with NI 43-101. PNRL is not treating the historical mineral estimates as current mineral resource estimates. To that end, the Historical Resource is considered to be historical in nature and should not be relied upon as a current mineral resource estimate. In addition, the Historical Resource has been superseded by the Technical Report.

 

About Premium Nickel Resources Ltd.

 

PNRL 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.

 

PNRL is committed to governance through transparent accountability and open communication within our team and our stakeholders. Our 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. PNRL’s 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.

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

Keith Morrison

Director and Chief Executive Officer

Premium Nickel Resources Ltd.

 

For further information about Premium Nickel Resources Ltd., please contact:

 

Jaclyn Ruptash

Vice President, Communications and Government and Investor Relations

+1 (604) 770-4334

 

 

 

 

Cautionary Note Regarding Forward-Looking Statements:

 

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. For the purposes of this release, forward-looking information includes, but is not limited to: the response to the MRE in Botswana; the support for the redevelopment of the Selebi Mine from the National Government and local stakeholders; drilling at Selebi North; the ability to upgrade the inferred mineral resources on Selebi North; possible expansion potential down-dip and down-plunge of the existing MRE; the publication by the Company of a potential updated MRE or future PFS; the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selebi Mine as currently contemplated; the ability of exploration activities (including drill results) to accurately predict mineralization; management’s belief that the Selebi and Selebi North deposits may be connected at depth; the timing and ability of the Company to publish a prefeasibility study (by H1 2025 or at all); any discrepancies between the MRE technical report and the scientific and technical information in this news release; the timing to release of the remaining assay results; the ability of the Company to implement its drilling, geoscience and metallurgical work on its properties and work plans generally; the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selebi Mine as currently contemplated; the ability of the Company to define additional or upgrade existing mineral resource estimates on the Selebi Mine in accordance with NI 43-101; the productivity rates for underground drilling at Selebi North; drilling results confirming the legacy fold pattern continues at depth; the effective targeting activities proposed by the Company; the ability to identify additional mineralization down plunge of existing workings and the ability of such findings to be used to complete a MRE and/or to support further economic studies; the ability and timing of advancing the underground drilling program at Selebi North as contemplated (if at all); the ability to expand the resource potential at the Selebi Mine; the results of the drill program on Selebi North and the timing and disclosures of the Company regarding same; the relationships between, and continuity of, the various deposits (if any); the benefits of the Company’s approach to exploration; management’s belief that the Historic Resource could be indicative of the presence of mineralization on the deposits; and the anticipated benefits of the Company’s approach to the resource development plan. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; the ability of exploration results to predict mineralization, prefeasibility or the feasibility of mine production; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca) under PNRL’s issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

 

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

 

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Exhibit 99.6

 

September 26, 2024

 

Premium Nickel Highlights More Assays from Selebi North Underground Including 8.30 Metres of 6.07% CuEq or 2.94% NiEq

 

View Core Photos Page Here

 

These in-fill assay results continue to meet our expectations and confirm both the high grade and scale of our Selebi North resource. Our underground drilling program at Selebi North continues to be an efficient process for both converting the NI 43-101 MRE Inferred resources to Indicated resources, while also increasing the size of the deposit” - CEO, Keith Morrison

 

Toronto, Ontario—(Newsfile Corp. - September 26, 2024) - Premium Nickel Resources Ltd. (TSXV: PNRL) (“PNRL” or the “Company”) announces more high-grade assay results for a further four holes from drilling at its past-producing nickel-copper-cobalt sulphide (“Ni-Cu-Co”) Selebi North underground (“SNUG”) mine in Botswana. Drill core photos for all highlighted holes released to date, including the holes reported herein, are accessible by Clicking Here and can also be found on the Company’s website at www.premiumnickel.com.

 

Highlights include:

 

SNUG-24-121 (South Limb): infill drilling targeting re-classification of Inferred to Indicated Resources)

 

8.30 metres of 6.07% CuEq or 2.94% NiEq (1.86% Cu, 2.04% Ni, 0.10% Co)

 

SNUG-24-126 (South Limb): infill drilling targeting re-classification of Inferred to Indicated Resources)

 

12.15 metres of 3.97% CuEq or 1.92% NiEq (0.89% Cu, 1.49% Ni, 0.07% Co)

 

Keith Morrison, CEO of PNRL, commented: “These in-fill assay results continue to meet our expectations and confirm both the high grade and scale of our Selebi North resource. Our underground drilling program at Selebi North continues to be an efficient process for both converting the NI 43-101 MRE Inferred resources to Indicated resources, while also increasing the size of the deposit.”

 

 

 

 

Assay results are provided below in Table 1 for SNUG-24-111, 119, 121 and 126; hole collar details are provided in Table 2.

 

True width of mineralization was estimated using the wireframe as part of the Mineral Resource Estimate (see news release dated August 8, 2024). Figures 1 through 3 show the location of the holes relative to the Selebi Mines Mineral Resource Estimate and underground infrastructure.

 

Table 1: Assay Results Selebi North Deposit

 

Hole-ID 

From

(m)

 

To

(m)

 

1Length

(m)

 

2Est. True Thickness

(m)

 

Cu

(%)

 

Ni

(%)

 

3Co

(%)

  Limb 

4CuEq

(%)

 

5NiEq

(%)

SNUG-24-111  259.65  275.65  16.00  12.5  0.81  1.48  0.07  South  3.86  1.87
Including  259.65  272.20  12.55  9.8  0.71  1.73  0.09  South  4.28  2.07
SNUG-24-111  286.10  294.40  8.30  6.0  1.37  0.25  0.01  South FW  1.88  0.91
Including  287.10  293.10  6.00  4.3  1.65  0.23  0.01  South FW  2.13  1.03
SNUG-24-111  348.10  351.60  3.50  2.5  0.45  1.30  0.06  N2  3.14  1.52
SNUG-24-111  361.40  365.95  4.55  3.2  0.67  0.71  0.04  N2  2.14  1.04
SNUG-24-119  475.05  487.15  12.10  3.3  1.40  1.15  0.07  N2  3.77  1.83
incl.  475.05  479.50  4.45  1.2  1.63  1.94  0.10  N2  5.63  2.73
SNUG-24-119  537.70  549.65  11.95  4.0  1.00  0.36  0.02  FW  1.74  0.85
incl.  537.70  540.35  2.65  0.9  2.58  1.11  0.05  N2  4.87  2.36
SNUG-24-119  588.80  601.65  12.85  4.8  1.18  1.09  0.06  N2  3.43  1.66
SNUG-24-121  400.60  408.90  8.30  8.0  1.86  2.04  0.10  South  6.07  2.94
SNUG-24-126  270.65  282.80  12.15  8.2  0.89  1.49  0.07  South  3.97  1.92
SNUG-24-126  294.85  298.60  3.75  2.5  0.31  1.30  0.06  South  2.99  1.45

 

1Length refers to drillhole length.

2True thickness is estimated using the Mineral Resource Estimate wireframe.

3Co is not included in the current MRE as cobalt analyses are not consistently available throughout the deposit.

4CuEq was calculated using the formula CuEq=Cu+2.06*Ni

assuming long-term prices of US$10.50/lb Ni and US$4.75/lb Cu nickel and copper recoveries of 72.0% and 92.4% respectively, derived from metallurgical studies which consider a conceptual bulk concentrate scenario.

5NiEq was calculated using the formula NiEq=Ni+0.485*Cu

 

 

 

 

Table 2: Drill Collar Information Selebi North Deposit

 

HOLE ID  Mine East  Mine North  Elevation  Dip 

Mine

Azimuth

  Hole Length  Comment
SNUG-24-111  35320.5  84606.5  82.4  -39.8  265.4  398.0  Rig #1 P6 810mL
SNUG-24-119  35365.9  84409.4  81.2  -69.9  238.5  627.7  Rig #2 P5 810mL
SNUG-24-121  35378.3  84424.6  81.3  -73.5  245.5  476.2  Rig #1 P4 810mL
SNUG-24-126  35320.9  84606.5  82.5  -50.0  260.6  449.1  Rig #1 P6 810mL

 

Drilling and BHEM Continues

 

As of September 24, 2024, a total of 55,125 metres in one hundred and thirty-eight (138) drillholes have been drilled from eight underground drill bays with three of those drillholes currently in-progress. Drilling totaling 25,141 meters across 53 completed holes, with 3 more in progress, is not included in the MRE. This new drilling is a combination of infill and exploration drilling to follow the extension of the mineralization down dip and down plunge.

 

New assay results not captured in the MRE will be published as they are received and verified by the Company. Due to the extensive drilling that has intersected mineralization, the Company has released assay results only for the most significant intercepts. The results of these new drill holes will be included in a future Mineral Resource update, with the goal of both expansion and reclassification of the current MRE. It is PNRL’s ambition that these pending results combined with future drilling would support the progression towards a Pre-feasibility Study.

 

Quality Control

 

The underground drilling program is being carried out through an agreement with Forage Fusion Drilling Ltd. of Hawkesbury, Ontario, Canada, who have provided three Zinex U-5 drills for purchase and training of local operators. Drill core samples are BQTK (40.7 mm diameter). All samples are ½ core cut by a diamond saw on site. Half of the core is retained for reference purposes. Samples are generally 1.0 to 1.5 metre intervals or less at the discretion of the site geologists. Sample preparation and lab analysis was completed at ALS Chemex in Johannesburg, South Africa. Commercially prepared blank samples and certified Cu/Ni sulphide analytical control standards with a range of grades are inserted in every batch of 20 samples or a minimum of one set per sample batch. Analyses for Ni, Cu and Co are completed using a peroxide fusion preparation and ICP-AES finish (ME-ICP81).

 

Holes are numbered as follows: SNUG (Selebi North Underground) + year + hole number starting at 013.

 

 

 

 

BHEM Surveys

 

The BHEM surveys at Selebi utilize the Crone PEM system operated by local Batswana staff. Survey data is collected using a 3 component fluxgate probe collecting full waveform data. Surveys have been collected using timebases between 50 and 1000ms (0.25 Hz to 5 Hz). The data has been processed to a calculated residual step response to better quantify the conductive sources. This added processing has proven to be invaluable because of the size of the highly conductive mineralized system.

 

Qualified Person

 

The scientific and technical content of this news release has been reviewed and approved by Sharon Taylor, Vice President Exploration of the Company, who is a “qualified person” for the purposes of National Instrument 43-101 (“NI 43-101”).

 

Technical Report

 

Scientific and technical information relating to the Selebi Mine is supported by the technical report titled “Technical Report, Selebi Mines, Central District, Republic of Botswana”, dated September 20, 2024 (effective date of June 30, 2024) (the “Selebi Mines Technical Report”), and prepared by SLR Consulting (Canada) Ltd. for PNRL. Reference should be made to the full text of the Selebi Mines Technical Report, including the assumptions, limitations and data verification therein relating to the historic data compilation, which was prepared in accordance with NI 43-101 and is available electronically on the Company’s website (www.premiumnickel.com) and on SEDAR+ (www.sedarplus.ca) under PNRL’s issuer profile.

 

About Premium Nickel Resources Ltd.

 

PNRL 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.

 

PNRL is committed to governance through transparent accountability and open communication within our team and our stakeholders. Our 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. PNRL’s 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.

 

 

 

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

Keith Morrison

Director and Chief Executive Officer

Premium Nickel Resources Ltd.

 

For further information about Premium Nickel Resources Ltd., please contact:

Jaclyn Ruptash

Vice President, Communications and Government and Investor Relations

+1 (604) 770-4334

 

Cautionary Note Regarding Forward-Looking Statements:

 

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. For the purposes of this release, forward-looking information includes, but is not limited to: the ability of the Company to implement its drilling, geoscience and metallurgical work on its properties and work plans generally; the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selebi Mines as currently contemplated; the ability of exploration activities (including drill results) to accurately predict mineralization; management’s belief that the Selebi and Selebi North deposits may be connected at depth; the timing to release of the remaining assay results; the ability of the Company to implement its drilling, geoscience and metallurgical work on its properties and work plans generally; the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selebi Mines as currently contemplated; the ability of the Company to define mineral resource estimates on the Selebi Mines in accordance with NI 43-101 and/or obtain an updated MRE in respect of the Selebi Mines; the productivity rates for underground drilling at Selebi North; drilling results confirming the legacy fold pattern continues at depth; the effective targeting activities proposed by the Company; the ability to identify mineralization down plunge of existing workings and the ability of such findings to be used to complete a MRE and/or to support further economic studies the ability and timing of advancing the underground drilling program at Selebi North as contemplated (if at all); the ability to expand the resource potential at the Selebi Mine; the results of the drill program on Selebi North and the timing and disclosures of the Company regarding same; the relationships between, and continuity of, the various deposits (if any); the benefits of the Company’s approach to exploration; and the anticipated benefits of the Company’s approach to the resource development plan. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; the ability of exploration results to predict mineralization or the feasibility of mine production; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca) under PNRL’s issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

 

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 news release.

 

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Figure 1: Selebi North: Location of Reported Drill Holes with Underground Infrastructure, Historic Resources, Exploration Targets and modeled BHEM plates.

 

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/7759/224669_4064adef34da1b0d_003full.jpg

 

 

 

 

 

Figure 2: Selebi North: Location of Reported Drill Holes with Underground Infrastructure, Historic Resources and Exploration Targets

 

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/7759/224669_4064adef34da1b0d_004full.jpg

 

 

Figure 3: Detailed view showing location of drillholes reported and mentioned in this release.

 

 

 

 

Exhibit 99.7

 

October 17, 2024

 

Premium Nickel Engages Altitude Capital Partners

 

Toronto, Ontario—(Newsfile Corp. - October 17, 2024) - Premium Nickel Resources Ltd. (TSXV: PNRL) (PNRL” or the “Company) is pleased to announce that the Company has entered into an advisory agreement with Altitude Capital Partners Inc. (“Altitude”) to support the Company with capital markets strategy and analysis of funding. This engagement aims to enhance the Company’s market presence as the Company advances its past-producing copper-nickel-cobalt-platinum group element (“Ni-Cu-Co-PGE”) sulphide Selebi and Selkirk mines in Botswana.

 

Altitude is a capital markets advisory firm based in Toronto, Ontario which is led by Michael Wekerle where he currently serves as Managing Partner. Altitude works in cooperation with ECM Capital Advisors Inc. (“ECM”), directed by Managing Partner, Eugene “Gene” McBurney. Mr. Wekerle has an extensive career in capital markets. Early in his career he joined First Marathon and quickly rose up to become the head trader for the firm, where he was a key player in Roger’s takeover of McLean Hunter in 1994. He then joined GMP (Griffiths McBurney and Partners) as Vice Chairman of trading, where he was involved with the 1997 initial public offering of Research in Motion (RIM). In 2012, he formed his own firm, Difference Capital where he invested in companies such as Thunderbird Films, Vision Critical, Appinions and HootSuite. Mr. Wekerle is well known for the four seasons (seasons 9 through 12) that he was an investor on the Canadian television show, Dragon’s Den. Mr. McBurney, B.A., M.A., LL.B., LL.D., has over 25 years of international investment banking experience and is an established advisor in the global mining sector. He has a notable history of leading landmark transactions in the natural resources sector, demonstrating his capability to deliver strategic outcomes for his clients.

 

Keith Morrison, PNRL CEO and Director, commented: “Michael and his team at Altitude, bring a known track record of working with earlier stage resource companies, and continuing to support them through complex market conditions. Our team is eager to work with them and help bring the benefits from their career’s experience to PNRL.”

 

When asked about working with PNRL, Michael Wekerle of Altitude Capital commented: “I’m really looking forward to working with the Premium Nickel team and navigating through this bull market. Premium Nickel presents a significant opportunity due to the global shift toward electrification and renewable energy particularly given the polymetallic nature of the deposits. Copper plays an essential role in the global transition to clean energy. As the world moves away from fossil fuels, the need for sustainable and reliable copper and nickel sources becomes essential. Premium Nickel’s projects offer not only access to high-quality copper-nickel-cobalt-PGE deposits but also an opportunity to be at the forefront of responsible mining practices in Africa. This combination of rising demand and the focus on sustainable best practices, positions the Company as a major player in the energy and materials landscape, making it an ideal opportunity for investors and stakeholders.”

 

 
 

 

Gene McBurney commented: “Bahamas-based ECM Advisors brings decades of experience and a track record of success in the resource and mining sectors to support Premium Nickel’s team as they reboot their Botswana copper-nickel-cobalt-PGE mines. Our expertise in navigating complex financial landscapes and our commitment to sustainable growth align perfectly with PNRL’s vision for these mines. We’re excited to leverage our knowledge to help revitalize one of Africa’s key nickel assets, creating value not only for stakeholders but for the communities and industries that depend on these resources.”

 

Altitude has been engaged for a term of five years, commencing as of October 1, 2024. The services to be rendered by Altitude include providing the Company with capital markets advice, analysis of strategic opportunities, reviewing capital requirements and capital markets opportunities for the Company as well as general market making advice and services. Pursuant to the terms of the engagement, the Company will pay Altitude monthly fees of CAD $17,000 and the Company has agreed to grant, in consideration of Altitude’s services, 1,200,000 options pursuant to the Company’s option plan. The options will have an exercise price of CAD $1.25 per common share for a period of five years from the date of grant and vest in equal monthly tranches of 100,000 options commencing October 15, 2024 until the earlier of September 15, 2025 and the date the engagement is terminated. Support provided by ECM will be provided pursuant to the Company’s engagement with Altitude; no separate agreement has been entered into with ECM. The Company is at arms-length from Altitude, ECM and their principals. In addition to the options to be granted to Altitude by the Company in connection with the engagement as outlined above, Altitude and ECM have advised the Company that (i) as of the effective date of the engagement and as of the date hereof, they and their principals own, directly or indirectly, an aggregate of 1,169,500 common shares of the Company and no other securities of the Company or right or intent to acquire such interest, and (ii) they and their principals may from time to time acquire and dispose of common shares or other securities of the Company.

 

About Premium Nickel Resources Ltd.

 

PNRL 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.

 

PNRL is committed to governance through transparent accountability and open communication within our team and our stakeholders. Our 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. PNRL’s 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.

 

 
 

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

Keith Morrison

Director and Chief Executive Officer

Premium Nickel Resources Ltd.

 

For further information about Premium Nickel Resources Ltd., please contact:

 

Jaclyn Ruptash

Vice President, Communications and Government and Investor Relations

+1 (604) 770-4334

 

Cautionary Note Regarding Forward-Looking Statements:

 

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. For the purposes of this release, forward looking information includes, but is not limited to: the expected impact and benefits of the engagement of Altitude (in partnership with ECM); the term length of engagement of Altitude; the global trend towards electrification and renewable energy; the significance of copper and nickel sources and the demand relating to energy and metals; and the objectives, goals and future plans of the Company, including the proposed advancement of the Selebi and Selkirk projects. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; and those risks set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.com) under PNRL’s issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

 

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

 

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Exhibit 99.8

 

October 22, 2024

 

Premium Nickel Continues to Deliver High Grade Results: 7.25 Metres of 7.48% CuEq or 3.63% NiEq Including 1.80 Metres of 10.27% CuEq or 4.99% NiEq

 

View Core Photos Page Here

 

Toronto, Ontario--(Newsfile Corp. - October 22, 2024) - Premium Nickel Resources Ltd. (TSXV: PNRL) (PNRL” or the “Company”) announces more high-grade assay results for a further six holes from drilling at its past-producing nickel-copper-cobalt sulphide (“Ni-Cu-Co”) Selebi North underground (“SNUG”) mine in Botswana. Drill core photos for all highlighted holes released to date, including the holes reported herein, are accessible by Clicking Here and can also be found on the Company’s website at www.premiumnickel.com. An initial Mineral Resource Estimate (“MRE”) for the Selebi Mine referred to in this release and prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”) which was disclosed on August 8, 2024 can also be found on the Company’s website and on SEDAR+ (www.sedarplus.ca) under the Company’s issuer profile.

 

Assay highlights include:

 

SNUG-24-123 (South Limb): infill drilling targeting re-classification of Inferred to Indicated Resources)
     
  13.85 metres of 6.08% CuEq or 2.95% NiEq (1.29% Cu, 2.33% Ni, 0.12% Co)
     
SNUG-24-131 (South Limb): infill drilling targeting re-classification of Inferred to Indicated Resources)
     
  7.25 metres of 7.48% CuEq or 3.63% NiEq (1.89% Cu, 2.71% Ni, 0.11% Co)
    incl. 1.80 metres of 10.27% CuEq or 4.99% NiEq (1.86% Cu, 4.09% Ni, 0.14% Co)
     
SNUG-24-133 (between N2 and N3): infill drilling targeting re-classification of Inferred to Indicated Resources)
     
  8.20 metres of 5.41% CuEq or 2.63% NiEq (2.20% Cu, 1.56% Ni, 0.08% Co)

 

 
 

 

Keith Morrison, CEO of PNRL, commented: “Together with these assays, we have reported on approximately 13,930 meters drilled at Selebi North since the MRE cut-off date of June 30, 2024. The ongoing exploration at the Selebi North deposit consistently demonstrates exceptional high-grade polymetallic assay results including cobalt. In addition to continued resource drilling, the Company is progressing on engineering trade-off studies that will support our first NI 43-101 compliant economic model. These studies include metallurgical workflow improvement, testing the application of X-ray transmission ore-sorting for underground pre-concentration to optimize the lifting capacity at the Selebi Mines, and mining methods and options to increase the throughput from both the Selebi North and Selebi Main deposits.”

 

Assay results are provided below in Table 1 for SNUG-24-123, 125, 130, 131, 132 and 133; hole collar details are provided in Table 2.

 

True width of mineralization was estimated using the wireframe as part of the Mineral Resource Estimate (see news release August 8, 2024). Figures 1 through 3 show the location of the holes relative to the Selebi Mines Mineral Resource Estimate and underground infrastructure.

 

Table 1: Assay Results Selebi North Deposit

 

Hole-ID   From
(m)
  To
(m)
  1Length
(m)
  2Est. True Thickness
(m)
  Cu
(%)
  Ni
(%)
  3Co
(%)
  Limb   4CuEq
(%)
  5NiEq
(%)
SNUG-24-123   246.95   260.80   13.85   12.5   1.29   2.33   0.12   South   6.08   2.95
SNUG-24-123   280.00   293.10   13.10   8.6   1.76   0.98   0.05   N2   3.77   1.83
incl.   283.20   292.15   8.95   5.9   2.31   1.14   0.06   N2   4.67   2.27
SNUG-24-123   298.70   300.65   1.95   1.3   1.68   1.04   0.06   N2   3.82   1.86
SNUG-24-125   370.20   381.05   10.85   9.3   1.69   0.96   0.06   South   3.67   1.78
incl.   370.20   375.30   5.10   4.4   2.43   1.41   0.09   South   5.33   2.59
SNUG-24-130   483.15   485.80   2.65   1.2   2.10   1.34   0.07   South   4.86   2.36
SNUG-24-130   497.50   511.85   14.35   6.5   1.46   0.92   0.05   South   3.36   1.63
incl.   503.70   509.50   5.80   2.7   1.46   1.79   0.09   South   5.15   2.50
SNUG-24-131   336.25   343.50   7.25   6.7   1.89   2.71   0.11   South   7.48   3.63
incl.   336.25   338.05   1.80   1.6   1.86   4.09   0.14   South   10.27   4.99
SNUG-24-132   241.10   255.05   13.95   12.1   1.56   1.16   0.06   South   3.95   1.92
incl.   241.10   245.90   4.80   4.2   3.32   2.16   0.11   South   7.76   3.77
SNUG-24-132   411.80   415.95   4.15   3.9   0.79   0.83   0.04   N2   2.50   1.21
SNUG-24-132   491.70   496.00   4.30   3.9   0.34   0.85   0.05   N2-N3   2.08   1.01
SNUG-24-133   269.30   277.50   8.20   7.2   2.20   1.56   0.08   N2-N3   5.41   2.63

 

1Length refers to drillhole length.
2
True thickness is estimated using the Mineral Resource Estimate wireframe.
3
Co is not included in the MRE as cobalt analyses are not consistently available throughout the deposit.
4
CuEq was calculated using the formula CuEq=Cu+2.06*Ni assuming long-term prices of US$10.50/lb Ni and US$4.75/lb Cu nickel and copper recoveries of 72.0% and 92.4% respectively, derived from metallurgical studies which consider a conceptual bulk concentrate scenario.
5
 NiEq was calculated using the formula NiEq=Ni+0.485*Cu

 

 
 

 

Table 2: Drill Collar Information Selebi North Deposit

 

HOLE ID   Mine
East
  Mine
North
  Elevation   Dip   Mine
Azimuth
  Hole
Length
  Comment
SNUG-24-123   35320.4   84606.6   82.8   -32.1   265.1   359.2   Rig #1 P6 810mL
SNUG-24-125   35377.8   84425.1   81.2   -69.9   273.4   581.5   Rig #3 P4 810mL
SNUG-24-130   35367.4   84409.1   81.2   -70.6   207.8   677.9   Rig #2 P5 810mL
SNUG-24-131   35377.7   84425.5   81.0   -61.3   289.0   425.3   Rig #3 P4 810mL
SNUG-24-132   35320.4   84607.3   82.5   -40.0   280.0   563.1   Rig #1 P6 810mL
SNUG-24-133   35089.3   84549.5   -41.9   -30.0   290.0   479.6   Rig #2 P8 925mL

 

Drilling and BHEM Continues

 

As of October 20, 2024, a total of 58,765 metres in one hundred and fifty (150) drillholes have been drilled from eight underground drill bays with three of those drillholes currently in-progress. Drilling totaling 28,781 meters across 65 completed holes, with 3 more in progress, is not included in the MRE. This new drilling is a combination of infill and exploration drilling to follow the extension of the mineralization down dip and down plunge.

 

New assay results not captured in the MRE will be published as they are received and verified by the Company. Due to the extensive drilling that has intersected mineralization, the Company has released assay results only for the most significant intercepts. The results of these new drill holes will be included in a future Mineral Resource update, with the goal of both expansion and reclassification of the MRE. It is PNRL’s ambition that these pending results combined with future drilling would support the progression towards a Pre-feasibility Study.

 

 
 

 

Quality Control

 

The underground drilling program is being carried out through an agreement with Forage Fusion Drilling Ltd. of Hawkesbury, Ontario, Canada, who have provided three Zinex U-5 drills for purchase and training of local operators. Drill core samples are BQTK (40.7 mm diameter). All samples are ½ core cut by a diamond saw on site. Half of the core is retained for reference purposes. Samples are generally 1.0 to 1.5 metre intervals or less at the discretion of the site geologists. Sample preparation and lab analysis was completed at ALS Chemex in Johannesburg, South Africa. Commercially prepared blank samples and certified Cu/Ni sulphide analytical control standards with a range of grades are inserted in every batch of 20 samples or a minimum of one set per sample batch. Analyses for Ni, Cu and Co are completed using a peroxide fusion preparation and ICP-AES finish (ME-ICP81).

 

Holes are numbered as follows: SNUG (Selebi North Underground) + year + hole number starting at 013.

 

BHEM Surveys

 

The BHEM surveys at Selebi utilize the Crone PEM system operated by local Batswana staff. Survey data is collected using a 3 component fluxgate probe collecting full waveform data. Surveys have been collected using timebases between 50 and 1000ms (0.25 Hz to 5 Hz). The data has been processed to a calculated residual step response to better quantify the conductive sources. This added processing has proven to be invaluable because of the size of the highly conductive mineralized system.

 

Qualified Person

 

The scientific and technical content of this news release has been reviewed and approved by Sharon Taylor, Vice President Exploration of the Company, who is a “qualified person” for the purposes of National Instrument 43-101.

 

Technical Report

 

The MRE on the Selebi Mine is supported by the Technical Report. Reference should be made to the full text of the Technical Report for the assumptions, qualifications and limitations set forth therein, a copy of which is available on SEDAR+ (www.sedarplus.com) under PNRL’s issuer profile.

 

About Premium Nickel Resources Ltd.

 

PNRL 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.

 

PNRL is committed to governance through transparent accountability and open communication within our team and our stakeholders. Our 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. PNRL’s 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.

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

Keith Morrison

Director and Chief Executive Officer
Premium Nickel Resources Ltd.

 

For further information about Premium Nickel Resources Ltd., please contact:

 

Jaclyn Ruptash
Vice President, Communications and Government and Investor Relations
+1 (604) 770-4334

 

 
 

 

Cautionary Note Regarding Forward-Looking Statements:

 

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. For the purposes of this release, forward looking information includes, but is not limited to: the response to the MRE in Botswana; the support for the redevelopment of the Selebi Mine from the National Government and local stakeholders; drilling at Selebi North; the ability to upgrade the inferred mineral resources on Selebi North; possible expansion potential down-dip and down-plunge of the existing MRE; the publication by the Company of a potential updated MRE or future PFS; the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selebi Mine as currently contemplated; the ability of exploration activities (including drill results) to accurately predict mineralization; management’s belief that the Selebi and Selebi North deposits may be connected at depth; the timing and ability of the Company to publish a prefeasibility study (by H1 2025 or at all); any discrepancies between the MRE technical report and the scientific and technical information in this news release; the timing to release of the remaining assay results; the ability of the Company to implement its drilling, geoscience and metallurgical work on its properties and work plans generally; the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selebi Mine as currently contemplated; the ability of the Company to define additional or upgrade existing mineral resource estimates on the Selebi Mine in accordance with NI 43-101; the productivity rates for underground drilling at Selebi North; drilling results confirming the legacy fold pattern continues at depth; the effective targeting activities proposed by the Company; the ability to identify additional mineralization down plunge of existing workings and the ability of such findings to be used to complete a MRE and/or to support further economic studies; the ability and timing of advancing the underground drilling program at Selebi North as contemplated (if at all); the ability to expand the resource potential at the Selebi Mine; the results of the drill program on Selebi North and the timing and disclosures of the Company regarding same; the relationships between, and continuity of, the various deposits (if any); the benefits of the Company’s approach to exploration; management’s belief that the Historic Resource could be indicative of the presence of mineralization on the deposits; and the anticipated benefits of the Company’s approach to the resource development plan. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; the ability of exploration results to predict mineralization, prefeasibility or the feasibility of mine production; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.com) under PNRL’s issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

 

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

 

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A close-up of a model of a human body

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Figure 1: Selebi North Location of Reported Drill Holes with 2024 Mineral Resource Estimate, Underground Infrastructure and Modeled BHEM Plates.

 

To view an enhanced version of this graphic, please visit:

 

https://images.newsfilecorp.com/files/7759/227390_9bdb61b614632a55_002full.jpg

 

 
 

 

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Figure 2: Selebi North Location of Reported Drill Holes with 2024 Mineral Resource Estimate and Underground Infrastructure

 

To view an enhanced version of this graphic, please visit:

 

https://images.newsfilecorp.com/files/7759/227390_9bdb61b614632a55_003full.jpg

 

A close-up of a diagram

Description automatically generated

 

Figure 3: Detailed view showing location of drillholes reported and mentioned in this release with 2024 Mineral Resource Estimate, Underground Infrastructure and Modeled BHEM Plates.

 

 

 

 

Exhibit 99.9

 

October 24, 2024

 

Premium Nickel Expands Selebi North Deposit with Discoveries of New Mineralization Beyond Initial Mineral Resource Estimate

 

View Core Photos Page Here

 

Toronto, Ontario--(Newsfile Corp. - October 24, 2024) - Premium Nickel Resources Ltd. (TSXV: PNRL) (PNRL” or the “Company”) announces deposit expansion and high-grade assay results for a further three holes and assays pending for one hole all drilled outside of the initial Mineral Resource Estimate (“MRE”) wireframe at its past-producing nickel-copper-cobalt sulphide (“Ni-Cu-Co”) Selebi North underground (“SNUG”) mine in Botswana. Drill core photos for all highlighted holes released to date, including the holes reported herein, are accessible by Clicking Here and can also be found on the Company’s website at www.premiumnickel.com.

 

Assay highlights include:

 

  SNUG-24-096-W1: South Limb - deepest intersection drilled to date and located 100 meters down plunge of SNUG-24-089 and outside the National Instrument 43-101 (“NI 43-101”) Inferred Resource

 

  12.90 metres of 4.12% CuEq or 2.00% NiEq (1.54% Cu, 0.95% Ni, 0.05% Co)

 

  and 24.50 metres of 2.17% CuEq or 1.05% NiEq (0.72% Cu, 0.67% Ni, 0.04% Co)

 

  SNUG-24-102 extension: N2 outside the NI 43-101 Inferred Resource

 

  17.00 metres of 2.02% CuEq or 0.98% NiEq (0.67% Cu, 0.64% Ni, 0.03% Co)

 

  incl. 8.10 metres of 2.42% CuEq or 1.17% NiEq (0.78% Cu, 0.82% Ni, 0.04% Co)

 

 

 

 

  SNUG-24-114: South Limb infill drilling targeting re-classification of Inferred to Indicated Resources, and N2 outside the NI 43-101 Inferred Resource

 

  21.30 metres of 4.14% CuEq or 2.01% NiEq (1.36% Cu, 1.34% Ni, 0.07% Co)

 

  incl. 13.80 metres of 4.40% CuEq or 2.14% NiEq (1.42% Cu, 1.48% Ni, 0.07% Co)

 

  SNUG-24-144: Intersected N2 mineralization outside the NI 43-101 Inferred Resource. Assays pending.

 

Keith Morrison, CEO of PNRL, commented: “The ongoing drilling at Selebi North targets mineralization both inside and outside the deposit geometry defined in the NI 43-101 MRE technical report effective June 30, 2024. The results of these four holes are the first reporting of results that are significantly outside the MRE deposit boundaries. SNUG-24-096-W1 successfully intercepted massive sulphide mineralization 100 metres below the lower extents of the current MRE volume. This reinforces the open down plunge nature of the Selebi North deposit, and the effectiveness of borehole electromagnetics to image massive sulphide mineralization. Substantial exploration potential remains at Selebi, and we are optimistic these results will compliment a future updated economic technical report.”

 

Assay results are provided below in Table 1 for SNUG-24-096-W1, SNUG-24-102 and SNUG-24-114, hole collar details are provided in Table 2. Assay results have been previously reported for the upper portion of SNUG-24-102 (see news release dated June 26, 2024). Upon the discovery of a second mineralized interval in drill hole SNUG-24-114 a decision was made to extend the previously drilled hole SNUG-24-102 and the assays reported herein are from the extension of that hole.

 

True thickness of mineralization was estimated using the wireframe as part of the MRE (see news release August 8, 2024). For intervals outside the MRE in the N2 Limb, true thickness is not yet determined, and more work is required to confirm the geometry of the new mineralization. Figures 1 and 2 show the location of the holes relative to the MRE and underground infrastructure.

 

 

 

 

Table 1: Assay Results Selebi North Deposit

 

Hole-ID   From
(m)
  To
(m)
  1Length
(m)
  2Est. True Thickness
(m)
  Cu
(%)
  Ni
(%)
  3Co
(%)
  Limb   4CuEq
(%)
  5NiEq
(%)
SNUG-24-096-W1   684.60   697.50   12.90   11.5   1.54   0.95   0.05   South   4.12   2.00
SNUG-24-096-W1   737.00   741.20   4.20   3.0   0.42   0.23   0.01   South   1.10   0.53
SNUG-24-096-W1   762.50   787.00   24.50   Unknown   0.72   0.67   0.04   N2   2.17   1.05
incl   765.55   780.75   15.20   Unknown   0.63   0.87   0.05   N2   2.17   1.05
SNUG-24-096-W1   777.25   780.75   3.50   Unknown   1.56   1.87   0.10   N2   5.09   2.47
SNUG-24-102 extension   510.10   527.10   17.00   Unknown   0.67   0.64   0.03   N2   2.02   0.98
incl   512.20   515.00   2.80   Unknown   0.68   0.65   0.04   N2   2.05   0.99
and   519.00   527.10   8.10   Unknown   0.78   0.82   0.04   N2   2.42   1.17
SNUG-24-114   283.60   304.90   21.30   17.9   1.36   1.34   0.07   South   4.14   2.01
incl   283.60   297.40   13.80   11.1   1.42   1.48   0.07   South   4.40   2.14
SNUG-24-114   316.15   317.85   1.70   1.3   0.57   0.88   0.04   South   2.06   1.00
SNUG-24-114   461.85   468.75   6.90   Unknown   0.90   0.71   0.03   N2   2.56   1.24
incl   464.65   468.75   4.10   Unknown   1.16   1.01   0.04   N2   3.41   1.66
SNUG-24-114   486.95   499.30   12.35   Unknown   1.02   0.87   0.04   N2   2.96   1.44
incl   486.95   496.00   9.05   Unknown   1.22   0.95   0.04   N2   3.46   1.68
SNUG-24-114   513.50   518.10   4.60   Unknown   0.53   0.41   0.02   N2   1.51   0.73

 

1 Length refers to drillhole length.
2 True thickness is estimated using the MRE wireframe where available.
3 Co is not included in the MRE as cobalt analyses are not consistently available throughout the deposit.
4 CuEq was calculated using the formula CuEq=Cu+2.06*Ni assuming long-term prices of US$10.50/lb Ni and US$4.75/lb Cu nickel and copper recoveries of 72.0% and 92.4% respectively, derived from metallurgical studies which consider a conceptual bulk concentrate scenario.
5 NiEq was calculated using the formula NiEq=Ni+0.485*Cu

 

Table 2: Drill Collar Information Selebi North Deposit

 

HOLE ID   Mine
East
  Mine
North
  Elevation   Dip   Mine
Azimuth
  Hole
Length
  Comment
SNUG-24-096-W1   35377.7   84423.1   81.35   -60.8   175.7   851.2   Rig #3 810mL
SNUG-24-102   35322.6   84605.8   82.32   -59.4   236.0   566.4   Rig #1 810mL
SNUG-24-114   35321.4   84606.1   82.36   -56.1   249.2   602.4   Rig #1 810mL
SNUG-24-144   35322.9   84604.9   82.32   -60.4   217.2   653.3   Rig #1 810mL

 

Drilling and BHEM Continues

 

As of October 22, 2024, a total of 58,999 metres in one hundred and fifty (150) drillholes have been drilled from eight underground drill bays with three of those drillholes currently in-progress. Additional drilling, totaling 29,015 meters across 65 completed holes, with 3 more in progress, are not included in the MRE. This new drilling is a combination of infill and exploration drilling to follow the extension of the mineralization down dip and down plunge.

 

 

 

 

New assay results not captured in the MRE will be published as they are received and verified by the Company. Due to the extensive drilling that has intersected mineralization, the Company has released assay results only for the most significant intercepts. The results of these new drill holes will be included in a future mineral resource update, with the goal of both expansion and reclassification of the MRE. It is PNRL’s ambition that these pending results combined with future drilling would support the progression towards a Pre-feasibility Study.

 

Quality Control

 

The underground drilling program is being carried out through an agreement with Forage Fusion Drilling Ltd. of Hawkesbury, Ontario, Canada, who have provided three Zinex U-5 drills for purchase and training of local operators. Drill core samples are BQTK (40.7 mm diameter). All samples are ½ core cut by a diamond saw on site. Half of the core is retained for reference purposes. Samples are generally 1.0 to 1.5 metre intervals or less at the discretion of the site geologists. Sample preparation and lab analysis was completed at ALS Chemex in Johannesburg, South Africa. Commercially prepared blank samples and certified Cu/Ni sulphide analytical control standards with a range of grades are inserted in every batch of 20 samples or a minimum of one set per sample batch. Analyses for Ni, Cu and Co are completed using a peroxide fusion preparation and ICP-AES finish (ME-ICP81).

 

Holes are numbered as follows: SNUG (Selebi North Underground) + year + hole number starting at 013.

 

BHEM Surveys

 

The BHEM surveys at Selebi utilize the Crone PEM system operated by local Batswana staff. Survey data is collected using a 3-component fluxgate probe collecting full waveform data. Surveys have been collected using timebases between 50 and 1000ms (0.25 Hz to 5 Hz). The data has been processed to a calculated residual step response to better quantify the conductive sources. This added processing has proven to be invaluable because of the size of the highly conductive mineralized system.

 

Qualified Person

 

The scientific and technical content of this news release has been reviewed and approved by Sharon Taylor, Vice President Exploration of the Company, who is a “qualified person” for the purposes of National Instrument 43-101.

 

 

 

 

Technical Report

 

The MRE on the Selebi Mine is supported by the Technical Report. Reference should be made to the full text of the Technical Report for the assumptions, qualifications and limitations set forth therein, a copy of which is available on SEDAR+ (www.sedarplus.com) under PNRL’s issuer profile.

 

About Premium Nickel Resources Ltd.

 

PNRL 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.

 

PNRL is committed to governance through transparent accountability and open communication within our team and our stakeholders. Our 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. PNRL’s 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.

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

Keith Morrison
Director and Chief Executive Officer
Premium Nickel Resources Ltd.

 

For further information about Premium Nickel Resources Ltd., please contact:

 

Jaclyn Ruptash
Vice President, Communications and Government and Investor Relations
+1 (604) 770-4334

 

 

 

 

Cautionary Note Regarding Forward-Looking Statements:

 

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. For the purposes of this release, forward looking information includes, but is not limited to: the response to the MRE in Botswana; the support for the redevelopment of the Selebi Mine from the National Government and local stakeholders; drilling at Selebi North; the ability to upgrade the inferred mineral resources on Selebi North; possible expansion potential down-dip and down-plunge of the existing MRE; the publication by the Company of a potential updated MRE or future PFS; the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selebi Mine as currently contemplated; the ability of exploration activities (including drill results) to accurately predict mineralization; management’s belief that the Selebi and Selebi North deposits may be connected at depth; the timing and ability of the Company to publish a prefeasibility study (by H1 2025 or at all); any discrepancies between the MRE technical report and the scientific and technical information in this news release; the timing to release of the remaining assay results; the ability of the Company to implement its drilling, geoscience and metallurgical work on its properties and work plans generally; the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selebi Mine as currently contemplated; the ability of the Company to define additional or upgrade existing mineral resource estimates on the Selebi Mine in accordance with NI 43-101; the productivity rates for underground drilling at Selebi North; drilling results confirming the legacy fold pattern continues at depth; the effective targeting activities proposed by the Company; the ability to identify additional mineralization down plunge of existing workings and the ability of such findings to be used to complete a MRE and/or to support further economic studies; the ability and timing of advancing the underground drilling program at Selebi North as contemplated (if at all); the ability to expand the resource potential at the Selebi Mine; the results of the drill program on Selebi North and the timing and disclosures of the Company regarding same; the relationships between, and continuity of, the various deposits (if any); the benefits of the Company’s approach to exploration; management’s belief that the Historic Resource could be indicative of the presence of mineralization on the deposits; and the anticipated benefits of the Company’s approach to the resource development plan. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; the ability of exploration results to predict mineralization, prefeasibility or the feasibility of mine production; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.com) under PNRL’s issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

 

 

 

 

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

 

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Figure 1: Selebi North Location of Reported Drill Holes with 2024 Mineral Resource Estimate

 

 

 

 

Exhibit 99.10

 

October 28, 2024

 

Premium Nickel’s Selkirk Deposit Provides Strong Historic Drill Core Results Including 186.25 Metres of 1.65% CuEq or 0.96% NiEq

 

Toronto, Ontario—(Newsfile Corp. - October 28, 2024) - Premium Nickel Resources Ltd. (TSXV: PNRL) (PNRL” or the “Company”) provides exceptional assay results from the re-sampling of historic drill core and an update on the Mineral Resource Estimate (“MRE”) for the Selkirk deposit at its nickel-copper-cobalt-platinum group elements (“Ni-Cu-Co-PGE”) sulphide Selkirk mine (“Selkirk Mine”) in Botswana.

 

The Selkirk Mine is the Company’s second asset in Botswana, located 28 kilometres south-east of the town of Francistown and approximately 75 kilometres north of the Company’s flagship Selebi Mines. The Company assayed samples from a total of seventeen historic drill holes extracted by the former operator, Tati Nickel Mining Company (“TNMC”), to obtain additional PGE analyses required for the MRE on the Selkirk deposit. PNRL has engaged SLR Consulting Ltd. to complete an MRE in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”), which is expected imminently. Results for all Selkirk holes are reported herein.

 

Assay highlights include:

 

 

DSLK012: 139.00 metres of 1.55% CuEq or 0.90% NiEq

(0.47% Cu, 0.38% Ni, 0.02% Co, 0.08ppm Au, 0.16ppm Pt and 0.68ppm Pd)

     
 

DSLK037: 88.85 metres of 1.09% CuEq or 0.63% NiEq

(0.29% Cu, 0.27% Ni, 0.01% Co, 0.05ppm Au, 0.14ppm Pt and 0.61ppm Pd)

     
 

DSLK039: 108.01 metres of 0.93% CuEq or 0.54% NiEq

(0.29% Cu, 0.21% Ni, 0.01% Co, 0.05ppm Au, 0.11ppm Pt and 0.44ppm Pd)

     
 

DSLK047: 157.00 metres of 1.21% CuEq or 0.70% NiEq

(0.35% Cu, 0.29% Ni, 0.02% Co, 0.09ppm Au, 0.12ppm Pt and 0.54ppm Pd)

     
 

DSLK079: 114.00 metres of 1.36% CuEq or 0.79% NiEq

(0.41% Cu, 0.35% Ni, 0.02% Co, 0.05ppm Au, 0.14ppm Pt and 0.59ppm Pd)

including: 65.00 metres of 1.64% CuEq or 0.96% NiEq

(0.50% Cu, 0.43% Ni, 0.02% Co, 0.05ppm Au, 0.17ppm Pt and 0.70ppm Pd)

     
 

DSLK086: 168.00 metres of 1.19% CuEq or 0.69% NiEq

(0.30% Cu, 0.32% Ni, 0.02% Co, 0.05ppm Au, 0.13ppm Pt and 0.56ppm Pd)

     
 

DSLK145: 136.50 metres of 1.06% CuEq or 0.62% NiEq

(0.28% Cu, 0.27% Ni, 0.01% Co, 0.05ppm Au, 0.13ppm Pt and 0.55ppm Pd)

     
 

DSLK216: 210.20 metres of 1.25% CuEq or 0.73% NiEq

(0.36% Cu, 0.32% Ni, 0.02% Co, 0.06ppm Au, 0.14ppm Pt and 0.57ppm Pd)

     
 

DSLK232: 35.84 metres of 4.04% CuEq or 2.35% NiEq

(0.98% Cu, 1.20% Ni, 0.06% Co, 0.12ppm Au, 0.33ppm Pt and 1.74ppm Pd)

     
 

DSLK243: 186.25 metres of 1.65% CuEq or 0.96% NiEq

(0.48% Cu, 0.41% Ni, 0.02% Co, 0.08ppm Au, 0.17ppm Pt and 0.76ppm Pd)

 

 
 

 

Keith Morrison, CEO of PNRL, commented: “These assay results are very good. Importantly, they are the first step in enabling PNRL to include the historical drilling and assay database from over approximately 292 legacy drill holes and 87,152 metres, using all payable commodities (Cu-Ni-Co-Pt-Pd-Au), in calculating an initial NI 43-101 MRE. The disseminated mineralized zone within the Selkirk host intrusive is large and open down plunge. The initial size of the MRE at Selkirk will be determined by the cut-off grade assumptions. Ideally these cut-off grade assumptions can be improved through future engineering and metallurgical studies optimizing the overall efficiency of the mine.”

 

The Selkirk property consists of a single mining licence covering an area of approximately 14.6 square kilometres and four prospecting licences covering an area of approximately 126.7 square kilometres.

 

Mineral resource estimates completed by previous operators were based on incomplete analysis of PGEs in the historic drill core. The Company initiated this re-sampling program to ensure PGEs are included in the upcoming MRE. PNRL selected drillholes from various historic years of drilling and assaying campaigns and were spaced out as a reference for a possible bulk tonnage operation. The seventeen holes sampled cover a range of approximately 690 metres in a Northwest/Southeast direction and 210 metres in a Northeast/Southwest direction.

 

Assay results are provided below in Table 1 for 17 holes that were re-sampled; hole collar details are provided in Table 2. Figure 1 shows the location of the re-sampled holes relative to all drill holes and the underground mine development.

 

Table 1: Assay Results Selkirk Deposit

 

HOLE ID   FROM
(m)
  TO
(m)
  1LENGTH
(m)
  Cu
(%)
  NI
(%)
  Co
(%)
  Au
(ppm)
  Pt
(ppm)
  Pd
(ppm)
  2CuEq
(%)
  3NiEq
(%)
DSLK012   71.00   211.00   139.00   0.47   0.38   0.02   0.08   0.16   0.68   1.55   0.90
DSLK028   37.00   110.00   68.70   0.32   0.26   0.01   0.06   0.13   0.61   1.11   0.64
DSLK035   61.00   92.85   31.85   0.29   0.27   0.01   0.05   0.13   0.62   1.10   0.64
DSLK035   110.00   189.00   79.00   0.24   0.22   0.01   0.05   0.11   0.49   0.90   0.52
DSLK037   31.15   120.00   88.85   0.29   0.27   0.01   0.05   0.14   0.61   1.09   0.63
DSLK039   120.00   238.00   108.01   0.29   0.21   0.01   0.05   0.11   0.44   0.93   0.54
DSLK040   81.00   169.00   88.00   0.37   0.30   0.02   0.05   0.12   0.53   1.23   0.71
DSLK040   186.60   200.00   13.40   0.51   0.27   0.02   0.05   0.12   0.53   1.30   0.76
DSLK047   107.00   264.00   157.00   0.35   0.29   0.02   0.09   0.12   0.54   1.21   0.70
DSLK075   50.00   73.00   23.00   0.24   0.24   0.01   0.04   0.10   0.50   0.94   0.55
DSLK075   89.00   101.00   12.00   0.27   0.26   0.01   0.05   0.13   0.60   1.06   0.62
DSLK075   115.00   214.00   99.00   0.32   0.27   0.01   0.06   0.13   0.63   1.15   0.67
DSLK079   100.00   214.00   114.00   0.41   0.35   0.02   0.05   0.14   0.59   1.36   0.79
incl.   123.00   188.00   65.00   0.50   0.43   0.02   0.05   0.17   0.70   1.64   0.96
DSLK086   56.00   76.00   20.00   0.19   0.20   0.01   0.04   0.10   0.39   0.77   0.45
DSLK086   106.00   274.00   168.00   0.30   0.32   0.02   0.05   0.13   0.56   1.19   0.69
DSLK139   277.00   333.00   56.00   0.33   0.28   0.02   0.06   0.13   0.55   1.15   0.67
incl.   277.00   297.00   20.00   0.39   0.35   0.02   0.06   0.15   0.64   1.38   0.80
DSLK145   90.00   128.00   38.00   0.13   0.16   0.01   0.03   0.09   0.40   0.64   0.37
DSLK145   140.00   202.00   25.80   0.06   0.08   0.01   0.01   0.04   0.14   0.28   0.16
DSLK145   213.00   349.50   136.50   0.28   0.27   0.01   0.05   0.13   0.55   1.06   0.62
incl.   249.00   349.50   100.50   0.31   0.28   0.01   0.05   0.14   0.60   1.14   0.66
DSLK216   61.00   273.00   210.20   0.36   0.32   0.02   0.06   0.14   0.57   1.25   0.73
incl.   61.00   97.00   36.00   0.24   0.27   0.02   0.05   0.11   0.44   0.99   0.58
and   117.00   273.00   154.45   0.41   0.35   0.02   0.06   0.15   0.64   1.39   0.81
DSLK218   14.00   46.00   32.00   0.26   0.18   0.02   0.04   0.11   0.33   0.80   0.46
DSLK219   21.00   36.60   15.60   0.29   0.23   0.01   0.05   0.11   0.43   0.95   0.55
DSLK219   41.00   63.80   22.80   0.33   0.24   0.02   0.06   0.11   0.45   1.03   0.60
DSLK219   78.90   99.00   20.10   0.59   0.34   0.02   0.09   0.13   0.61   1.57   0.91
DSLK219   111.00   130.00   19.00   0.27   0.18   0.01   0.04   0.08   0.48   0.84   0.49
DSLK219   181.00   191.00   10.00   0.26   0.18   0.01   0.04   0.08   0.29   0.77   0.45
DSLK232   35.00   70.84   35.84   0.98   1.20   0.06   0.12   0.33   1.74   4.04   2.35
incl.   47.3   64.00   16.70   1.56   1.73   0.1   0.09   0.37   2.14   5.78   3.36
DSLK243   120.00   306.25   186.25   0.48   0.41   0.02   0.08   0.17   0.76   1.65   0.96

 

1Length refers to drillhole length.

2 CuEq was calculated using the formula CuEq=Cu+1.72*Ni+2.57*Co+0.928Au+0.35*Pt+0.36*Pd assuming October 23, 2024 prices of US$7.38/lb Ni, US$4.29/lb Cu, US$11.02/lb Co, US$2,716.85/troy ounce Au, US$1,017.20/troy ounce Pt and US$1,048.50/troy ounce Pd with no adjustments for recoveries or payabilities.

3 NiEq was calculated using the formula NiEq=Ni+0.58*CuEq

 

 
 

 

Table 2: Drill Collar Information Selkirk Deposit

 

HOLE ID   1Easting   1Northing   1Elevation   Dip   Azimuth   Hole Length (m)
DSLK012   575449.5   7642670.7   996.9   -70.00   30.0   368.2
DSLK028   575592.3   7642713.7   992.5   -70.00   35.0   188.0
DSLK035   575507.0   7642676.2   993.1   -90.00   335.0   256.6
DSLK037   575555.9   7642642.1   989.7   -70.00   35.0   150.0
DSLK039   575372.3   7642697.2   1001.4   -72.00   40.0   341.1
DSLK040   575408.9   7642745.1   998.5   -69.00   38.0   315.7
DSLK047   575340.1   7642646.4   996.4   -70.00   42.0   376.8
DSLK075   575367.3   7642480.9   986.7   -72.00   28.5   362.4
DSLK079   575319.9   7642514.8   988.0   -70.00   35.0   385.1
DSLK086   575285.3   7642465.2   984.1   -70.00   35.0   452.0
DSLK139   575148.8   7642268.3   982.7   -69.60   40.2   490.3
DSLK145   575197.4   7642233.7   982.7   -68.58   39.3   375.3
DSLK216   575410.3   7642670.8   999.1   -87.94   209.7   369.5
DSLK218   575376.4   7642794.8   990.7   -86.97   97.0   241.4
DSLK219   575470.5   7642852.1   991.7   -87.99   359.4   67.3
DSLK232   575563.29   7642894.07   1001.8   -90   360   70.8
DSLK243   575325.0   7642547.6   988.5   -88.96   291.7   300.1

 

1Coordinates are WGS84z35S with geoidal elevations

 

Work Continues

 

The Company has proposed a work plan at the Selkirk Mine and its surrounding prospecting licences that includes a drill program to better define the existing resources and to explore for additional resources. Additional metallurgical studies are also planned, using fresh drill core samples obtained from future drilling.

 

Quality Control

 

Drill core samples are NQ (47.75 mm diameter). All samples are ½ core previously cut by a diamond saw on site. Samples are generally 1.0 metre intervals or less at the discretion of the site geologists. Sample preparation and lab analysis was completed at ALS Chemex in Johannesburg, South Africa. Commercially prepared blank samples and certified Cu/Ni sulphide analytical control standards with a range of grades are inserted in every batch of 20 samples or a minimum of one set per sample batch. Analyses for Ni, Cu and Co are completed using a peroxide fusion preparation and ICP-AES finish (ME-ICP81).

 

 
 

 

Qualified Person

 

The scientific and technical content of this news release has been reviewed and approved by Sharon Taylor, Vice President Exploration of the Company, who is a “qualified person” for the purposes of National Instrument 43-101.

 

Technical Report

 

In 2023, the Company filed a technical report in respect of the Selkirk Mine titled “NI 43-101 Technical Report, Selkirk Nickel Project, Northeast District, Republic of Botswana” dated April 12, 2023 (with an effective date of March 31, 2023) (the “Selkirk Technical Report”), a copy of which is available on SEDAR+ (www.sedarplus.ca) under the Company’s issuer profile.

 

About Premium Nickel Resources Ltd.

 

PNRL 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.

 

PNRL is committed to governance through transparent accountability and open communication within our team and our stakeholders. Our 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. PNRL’s 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.

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

Keith Morrison

Director and Chief Executive Officer

Premium Nickel Resources Ltd.

 

For further information about Premium Nickel Resources Ltd., please contact:

 

Jaclyn Ruptash

Vice President, Communications and Government and Investor Relations

+1 (604) 770-4334

 

 
 

 

Cautionary Note Regarding Forward-Looking Information

 

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. For the purposes of this release, forward looking information includes, but is not limited to: the response to Mineral Resource Estimates in Botswana; the support for the redevelopment of the Selkirk Mine from the National Government and local stakeholders; mining at Selkirk; the ability to upgrade the inferred mineral resources on Selkirk; the publication by the Company of an initial Mineral Resource Estimate or future PFS; the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selkirk Mine as currently contemplated; the ability of exploration activities (including drill results) to accurately predict mineralization; management’s belief that the Selebi and Selebi North deposits may be connected at depth; the timing and ability of the Company to publish a prefeasibility study (by H1 2025 or at all); any discrepancies between the initial Mineral Resource Estimate technical report and the scientific and technical information in this news release; the timing to release of the remaining assay results; the ability of the Company to implement its drilling, geoscience and metallurgical work on its properties and work plans generally; the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selebi Mine and Selkirk Mine as currently contemplated; the ability of the Company to define additional or upgrade existing mineral resource estimates on the Selkirk Mine in accordance with NI 43-101; the productivity rates for mining at Selkirk; drilling results confirming the legacy fold pattern continues at depth; the effective targeting activities proposed by the Company; the ability to identify additional mineralization down plunge of existing workings and the ability of such findings to be used to complete a Mineral Resource Estimate and/or to support further economic studies; the ability and timing of advancing the mining programs at the Selebi Mine and the Selkirk Mine as contemplated (if at all); the ability to expand the resource potential at the Selkirk Mine; the results of the mining program on Selkirk and the timing and disclosures of the Company regarding same; the relationships between, and continuity of, the various deposits (if any); the benefits of the Company’s approach to exploration; management’s belief that the Historic Resource could be indicative of the presence of mineralization on the deposits; and the anticipated benefits of the Company’s approach to the resource development plan. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; the ability of exploration results to predict mineralization, prefeasibility or the feasibility of mine production; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca) under PNRL’s issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

 

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

 

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Figure 1: Selkirk location of the re-sampled holes relative to all drill holes and the underground mine development.

 

 

 

 

Exhibit 99.11

 

October 30, 2024

 

Premium Nickel Announces Results of Annual General and Special Shareholders’ Meeting Including Name Change

 

Toronto, Ontario—(Newsfile Corp. - October 30, 2024) - Premium Nickel Resources Ltd. (TSXV: PNRL) (PNRL” or the “Company) is pleased to report on the results of its Annual General and Special Meeting (the “Meeting”) of shareholders held on October 29, 2024. All proposed resolutions, each described in the notice of the meeting and management information circular of the Company dated September 19, 2024, were approved by the shareholders of the Company.

 

The shareholders re-elected James Gowans (Chairman), Don Newberry, Jason LeBlanc, Keith Morrison, Paul Martin, Mark Christensen, Norman MacDonald and William O’Reilly as directors of the Company to hold office until the next annual meeting of shareholders or until their successors are elected or appointed. MNP LLP were appointed as auditors for the Company for the ensuing year. In addition, shareholders approved: (i) the change of name of the Company to “Premium Resources Ltd.” or such other name as may be approved by the board of directors of the Company; (ii) the Company’s restricted share unit plan; and (iii) the previous grants of restricted share units.

 

Following the meeting, the board of directors re-appointed the officers of the Company, namely Keith Morrison (Chief Executive Officer), Peter Rawlins (Senior Vice President & Chief Financial Officer), Timothy Moran (Corporate Secretary and Chief Legal Officer) and Sharon Taylor (Vice President Exploration). Sean Whiteford continues as President of Premium Resources International Ltd., an indirect wholly-owned subsidiary of the Company, which indirectly owns the Company’s Botswana mines.

 

About Premium Nickel Resources Ltd.

 

PNRL 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.

 

PNRL is committed to governance through transparent accountability and open communication within our team and our stakeholders. Our 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. PNRL’s 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.

 

 
 

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

Keith Morrison

Director and Chief Executive Officer

Premium Nickel Resources Ltd.

 

For further information about Premium Resources Ltd., please contact:

 

Jaclyn Ruptash
Vice President, Communications and Government and Investor Relations
+1 (604) 770-4334

 

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

 

Follow Us

 

X (formally Twitter): https://twitter.com/PremiumNickel

Linked in: https://www.linkedin.com/company/premium-nickel-resources

Facebook: https://www.facebook.com/PremiumNickel

 

 

 

 

Exhibit 99.12

 

November 11, 2024

 

Premium Nickel Extends Selebi Mines Study Phase and Provides Operational Update

 

Toronto, Ontario—(Newsfile Corp. - November 11, 2024) - Premium Nickel Resources Ltd. (TSXV: PNRL) (PNRL” or the “Company”) has extended the Study Phase (as defined under Section 43 of the Botswana Mining Act) for the Selebi Mines project pursuant to the terms of the asset purchase agreement (the “Selebi APA”) with the BCL liquidator. This extension follows successful completion by the Company of the work and investment milestones required by the Selebi APA. It provides the Company with an additional one year, to February 1, 2026, to complete an economic study and make the next milestone payment, in the amount of US$25 million, under the Selebi APA.

 

On January 31, 2022, the Company closed the Selebi APA, and ownership of the Selebi Mines transferred to the Company. The Selkirk Mine license and exploration permits were acquired in August 2022. Included in the Selebi APA, are contingent milestone payments which apply in aggregate to both the Selebi Mines and the Selkirk Mine as the assets are derisked.

 

Selebi Mines

 

The Company is advancing its resource characterization drilling program at Selebi North, which is expected to be completed by the end of 2024. The underground development team has mobilized to the Selebi Main deposit to support underground exploration drilling starting in 2025. Initial drill bays will be established enabling drill testing of large borehole electromagnetic conductors located below the legacy Selebi Mine horizons.

 

The work at the Selebi Mines is focused on advancing key activities that will support an economic study prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”). In addition to the underground exploration drilling, the Company is completing engineering trade-off studies and advancing metallurgical studies. The company is evaluating advancing to a preliminary economic assessment (“NI 43-101 PEA”) versus moving directly to a prefeasibility study (“NI 43-101 PFS”). The benefits include less time and cost and the ability to publish an initial economic model including a broad range of development options.

 

Selkirk Mine

 

The Company recently published results from seventeen historic drill cores for nickel, copper, cobalt, and Platinum Group Elements, providing additional data needed for the Selkirk deposit’s mineral resource estimate (“MRE”) which is expected imminently (see PNRL news release dated October 28, 2024). A proposed work plan for the Selkirk deposit will be defined following receipt and review of the completed MRE.

 

 
 

 

Company Name Change

 

At the Annual General and Special Meeting of shareholders held on October 29, 2024, shareholders approved of the Company changing its name to “Premium Resources Ltd.”. The Company is in the process of effecting the name change and expects to complete that process in the coming weeks.

 

About Premium Nickel Resources Ltd.

 

PNRL 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.

 

PNRL is committed to governance through transparent accountability and open communication within our team and our stakeholders. Our 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. PNRL’s 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.

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

Keith Morrison

Director and Chief Executive Officer

Premium Nickel Resources Ltd.

 

For further information about Premium Nickel Resources Ltd., please contact:

 

Jaclyn Ruptash

Vice President, Communications and Government and Investor Relations

+1 (604) 770-4334

 

 
 

 

Cautionary Note Regarding Forward-Looking Information

 

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. For the purposes of this release, forward looking information includes, but is not limited to: the ability of the Company to effect the proposed name change on terms acceptable to the Company, if at all; the support for the redevelopment of the Selkirk Mine from the National Government and local stakeholders; the ability of exploration activities (including drill results) to accurately predict mineralization; management’s belief that the Selebi and Selebi North deposits may be connected at depth; the timing to release of the remaining assay results; the ability of the Company to implement its drilling, geoscience and metallurgical work on its properties and work plans generally; the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selebi Mines and the Selkirk Mine as currently contemplated; the effective targeting activities proposed by the Company; the ability to identify additional mineralization down plunge of existing workings and the ability of such findings to be used to complete a Mineral Resource Estimate and/or to support further economic studies; and the anticipated benefits of the Company’s approach to the resource development plan. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; the ability of exploration results to predict mineralization, prefeasibility or the feasibility of mine production; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca) under PNRL’s issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

 

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

 

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Exhibit 99.13

 

November 13, 2024

 

Premium Nickel Intersects Significant Lengths of Mineralization at Selebi North: 28.70 Metres of 3.45% CuEq or 1.67% NiEq

 

View Core Photos Page Here

 

Toronto, Ontario—(Newsfile Corp. - November 13, 2024) - Premium Nickel Resources Ltd. (TSXV: PNRL) (PNRL” or the “Company”) announces high-grade assay results for a further ten holes all drilled within the Mineral Resource Estimate (“MRE”) wireframe at its past-producing nickel-copper-cobalt sulphide (“Ni-Cu-Co”) Selebi North underground (“SNUG”) mine in Botswana. Drill core photos for all highlighted holes released to date, including the holes reported herein, are accessible by Clicking Here and can also be found on the Company’s website at www.premiumresources.com. To view the 3D modeling, please visit the following link https://vrify.com/decks/17284.

 

Infill Drilling Assay Highlights for Resource Reclassification:

 

  SNUG-24-129: South Limb
    9.70 metres of 6.12% CuEq or 2.97% NiEq (2.44% Cu, 1.79% Ni, 0.09% Co)
    incl. 7.20 metres of 7.24% CuEq or 3.52% NiEq (2.74% Cu, 2.19% Ni, 0.10% Co)
     
  SNUG-24-138: N2 Limb
    28.70 metres of 3.45% CuEq or 1.67% NiEq (1.66% Cu, 0.87% Ni, 0.05% Co)
    incl. 10.60 metres of 4.75% CuEq or 2.30% NiEq (1.26% Cu, 1.69% Ni, 0.09% Co)
     
  SNUG-24-139: South Limb/N2
    10.30 metres of 4.80% CuEq or 2.33% NiEq (2.29% Cu, 1.22% Ni, 0.06% Co)

 

Keith Morrison, CEO of PNRL, commented: “These assays are the next group of in-fill drilling results at our Selebi North deposit. We have used the National Instrument 43-101 mineral resource estimate geometry to estimate the true widths of these holes. They continue to demonstrate both very good grades and widths. Assays are pending for approximately 14,000 metres of in-fill and expansion drilling.”

 

 

 

 

Assay results are provided below in Table 1 for SNUG-24-129,134,135,136,138,139,140,141,142 and 147; and drill hole collar details are provided in Table 2.

 

True thickness of mineralization was estimated using the wireframe as part of the MRE (see PNRL news release dated August 8, 2024). Figures 1 and 2 show the location of the holes relative to the MRE and underground infrastructure.

 

Table 1: Assay Results Selebi North Deposit

 

Hole-ID   From
(m)
  To
(m)
  1Length
(m)
  2Est. True
Thickness

(m)
  Cu
(%)
  Ni
(%)
  3Co
(%)
  Limb   4CuEq
(%)
  5NiEq
(%)
SNUG-24-129   261.30   271.00   9.70   8.7   2.44   1.79   0.09   South Limb   6.12   2.97
incl   261.30   268.50   7.20   6.4   2.74   2.19   0.10   South Limb   7.24   3.52
SNUG-24-134   348.15   352.25   4.10   3.8   1.10   1.16   0.07   South Limb   3.48   1.69
SNUG-24-135   314.50   321.40   6.90   5.7   0.86   0.58   0.03   South Limb   2.06   1.00
SNUG-24-135   325.90   344.50   18.60   10.3   0.70   0.70   0.04   N2   2.14   1.04
incl   337.30   339.85   2.55   1.5   1.15   2.18   0.11   N2   5.65   2.74
SNUG-24-136   388.30   397.70   9.40   7.5   0.58   1.06   0.05   South Limb /N2   2.77   1.35
incl   390.50   397.00   6.50   5.2   0.52   1.44   0.07   South Limb /N2   3.48   1.69
SNUG-24-138   348.85   377.55   28.70   21.9   1.66   0.87   0.05   N2   3.45   1.67
incl   348.85   359.45   10.60   8.1   1.26   1.69   0.09   N2   4.75   2.30
and   372.00   374.65   2.65   2.1   4.36   0.86   0.05   N2   6.13   2.97
SNUG-24-139   377.00   387.30   10.30   9.3   2.29   1.22   0.06   South Limb/N2   4.80   2.33
SNUG-24-140   325.30   332.30   7.00   6.6   1.18   1.71   0.09   N3   4.71   2.28
SNUG-24-141   361.45   365.05   3.60   3.5   0.25   1.20   0.06   SL   2.71   1.32
SNUG-24-141   368.35   402.40   34.05   20.7   0.60   0.80   0.05   SL/N2   2.24   1.09
incl   368.35   375.45   7.10   4.4   1.04   1.17   0.06   SL/N2   3.45   1.67
and   396.35   402.40   6.05   3.7   0.91   1.62   0.09   N2   4.23   2.06
SNUG-24-142   517.10   520.10   3.00   2.9   0.82   0.38   0.02   N3   1.61   0.78
SNUG-24-147   259.30   260.65   1.35   1.0   1.16   1.90   0.08   N3   5.08   2.46
SNUG-24-147   270.15   272.60   2.45   2.3   1.76   1.55   0.07   N3   4.95   2.40
SNUG-24-147   442.40   443.80   1.40   1.3   1.48   1.21   0.08   N3   3.97   1.93

 

1Length refers to drillhole length.

2True thickness is estimated using the MRE wireframe where available.

3Co is not included in the MRE as cobalt analyses are not consistently available throughout the deposit.

4 CuEq was calculated using the formula CuEq=Cu+2.06*Ni assuming long-term prices of US$10.50/lb Ni and US$4.75/lb Cu nickel and copper recoveries of 72.0% and 92.4% respectively, derived from metallurgical studies which consider a conceptual bulk concentrate scenario.

5 NiEq was calculated using the formula NiEq=Ni+0.485*Cu.

 

 

 

 

Table 2: Drill Collar Information Selebi North Deposit

 

HOLE ID   Mine
East
  Mine
North
  Elevation   Dip   Mine
Azimuth
  Hole
Length
  Comment
SNUG-24-129   35320.5   84607.1   82.6   -49.6   270.0   617.1   Rig #1 810mL P6
SNUG-24-134   35377.7   84426.1   81.2   -55.8   289.3   392.3   Rig #3 810mL P4
SNUG-24-135   35322.2   84605.5   82.4   -46.4   222.8   389.4   Rig #1 810mL P6
SNUG-24-136   35377.6   84425.6   81.2   -62.4   272.1   578.0   Rig #3 810mL P4
SNUG-24-138   35322.3   84605.8   82.4   -52.7   239.5   428.6   Rig #1 810mL P6
SNUG-24-139   35377.8   84425.7   81.3   -56.5   279.8   427.4   Rig #3 810mL P4
SNUG-24-140   35089.1   84549.4   -42.1   -29.8   285.5   463.9   Rig #2 810mL P8
SNUG-24-141   35322.3   84605.5   82.4   -52.1   217.3   440.3   Rig #1 810mL P6
SNUG-24-142   35089.8   84550.1   -42.1   -30.4   298.8   587.7   Rig #2 810mL P8
SNUG-24-147   35089.3   84548.7   -42.4   -39.6   282.5   481.9   Rig #2 810mL P8

 

Drilling and BHEM Continues

 

As of November 10, 2024, a total of 60,899 metres in one hundred and fifty-six (156) drillholes have been drilled from eight underground drill bays with three of those drillholes currently in-progress. Additional drilling, totaling 30,915 meters across 71 completed holes, with 3 more in progress, are not included in the MRE. BHEM surveys have been completed in 59 holes. This new drilling is a combination of infill and exploration drilling to follow the extension of the mineralization down dip and down plunge.

 

New assay results not captured in the MRE will be published as they are received and verified by the Company. Due to the extensive drilling that has intersected mineralization, the Company has released assay results only for the most significant intercepts. The results of these new drill holes will be included in a future mineral resource update, with the goal of both expansion and reclassification of the MRE. It is PNRL’s ambition that these pending results combined with future drilling would support the progression towards an economic study prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

 

Quality Control

 

The underground drilling program is being carried out through an agreement with Forage Fusion Drilling Ltd. of Hawkesbury, Ontario, Canada, who have provided three Zinex U-5 drills for purchase and training of local operators. Drill core samples are BQTK (40.7 mm diameter). All samples are ½ core cut by a diamond saw on site. Half of the core is retained for reference purposes. Samples are generally 1.0 to 1.5 metre intervals or less at the discretion of the site geologists. Sample preparation and lab analysis was completed at ALS Chemex in Johannesburg, South Africa. Commercially prepared blank samples and certified Cu/Ni sulphide analytical control standards with a range of grades are inserted in every batch of 20 samples or a minimum of one set per sample batch. Analyses for Ni, Cu and Co are completed using a peroxide fusion preparation and ICP-AES finish (ME-ICP81).

 

Holes are numbered as follows: SNUG (Selebi North Underground) + year + hole number starting at 013.

 

 

 

 

BHEM Surveys

 

The BHEM surveys at Selebi utilize the Crone PEM system operated by local Batswana staff. Survey data is collected using a 3 component fluxgate probe collecting full waveform data. Surveys have been collected using timebases between 50 and 1000ms (0.25 Hz to 5 Hz). The data has been processed to a calculated residual step response to better quantify the conductive sources. This added processing has proven to be invaluable because of the size of the highly conductive mineralized system.

 

Qualified Person

 

The scientific and technical content of this news release has been reviewed and approved by Sharon Taylor, Vice President Exploration of the Company, who is a “qualified person” for the purposes of National Instrument 43-101.

 

Technical Report

 

The MRE on the Selebi Mine is supported by the Technical Report. Reference should be made to the full text of the Technical Report for the assumptions, qualifications and limitations set forth therein, a copy of which is available on SEDAR+ (www.sedarplus.ca) under PNRL’s issuer profile.

 

About Premium Nickel Resources Ltd.

 

PNRL 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.

 

PNRL is committed to governance through transparent accountability and open communication within our team and our stakeholders. Our 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. PNRL’s 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.

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

Keith Morrison

Director and Chief Executive Officer

Premium Nickel Resources Ltd.

 

For further information about Premium Nickel Resources Ltd., please contact:

 

Jaclyn Ruptash

Vice President, Communications and Government and Investor Relations

+1 (604) 770-4334

 

 

 

 

Cautionary Note Regarding Forward-Looking Statements:

 

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. For the purposes of this release, forward looking information includes, but is not limited to: the response to the MRE in Botswana; the support for the redevelopment of the Selebi Mine from the National Government and local stakeholders; drilling at Selebi North; the ability to upgrade the inferred mineral resources on Selebi North; possible expansion potential down-dip and down-plunge of the existing MRE; the publication by the Company of a potential updated MRE or future PFS; the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selebi Mine as currently contemplated; the ability of exploration activities (including drill results) to accurately predict mineralization; management’s belief that the Selebi and Selebi North deposits may be connected at depth; the timing and ability of the Company to publish a prefeasibility study (by H1 2025 or at all); any discrepancies between the MRE technical report and the scientific and technical information in this news release; the timing to release of the remaining assay results; the ability of the Company to implement its drilling, geoscience and metallurgical work on its properties and work plans generally; the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selebi Mine as currently contemplated; the ability of the Company to define additional or upgrade existing mineral resource estimates on the Selebi Mine in accordance with NI 43-101; the productivity rates for underground drilling at Selebi North; drilling results confirming the legacy fold pattern continues at depth; the effective targeting activities proposed by the Company; the ability to identify additional mineralization down plunge of existing workings and the ability of such findings to be used to complete a MRE and/or to support further economic studies; the ability and timing of advancing the underground drilling program at Selebi North as contemplated (if at all); the ability to expand the resource potential at the Selebi Mine; the results of the drill program on Selebi North and the timing and disclosures of the Company regarding same; the relationships between, and continuity of, the various deposits (if any); the benefits of the Company’s approach to exploration; management’s belief that the Historic Resource could be indicative of the presence of mineralization on the deposits; and the anticipated benefits of the Company’s approach to the resource development plan. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; the ability of exploration results to predict mineralization, prefeasibility or the feasibility of mine production; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca) under PNRL’s issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

 

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

 

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Figure 1: Selebi North Location of Reported Drill Holes with 2024 Mineral Resource Estimate

 

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7759/229759_8409c1cd84e75b85_002full.jpg

 

 

 

 

 

Figure 2: Detailed view showing location of drillholes reported and mentioned in this release with 2024 Mineral Resource Estimate, Underground Infrastructure and Modeled BHEM Plates.

 

 

 

Exhibit 99.14

 

November 18, 2024

 

Premium Resources Ltd. Announces Name Change

 

Toronto, Ontario—(Newsfile Corp. - November 18, 2024) - Premium Resources Ltd. (TSXV: PNRL) (“PRL” or the “Company”) is pleased to announce that the Company has changed its name from “Premium Nickel Resources Ltd.” to “Premium Resources Ltd.” (the “Name Change”). The Name Change was approved at the Annual General and Special Meeting of shareholders held on October 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 November 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.

 

PRL 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.

 

PRL is committed to governance through transparent accountability and open communication within our team and our stakeholders. Our 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. PRL’s 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.

 

 
 

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

Keith Morrison

Director and Chief Executive Officer

Premium Resources Ltd.

 

For further information about Premium Resources Ltd., please contact:

 

Jaclyn Ruptash

Vice President, Communications and Government and Investor Relations

+1 (604) 770-4334

 

Cautionary Note Regarding Forward-Looking Statements:

 

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. For the purposes of this release, forward looking information includes, but is not limited to: the implementation of the objectives, goals and future plans of the Company including the proposed redevelopment of past producing mines; the anticipated date the common shares will begin trading on the TSX Venture Exchange under the new ticker symbol; and the significance of management’s prior experience in developing mineral projects. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; the ability of exploration results to predict mineralization, prefeasibility or the feasibility of mine production; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.com) under PNRL’s issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

 

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

 

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Exhibit 99.15

 

November 27, 2024

 

Premium Resources Announces Initial Mineral Resource Estimate of 44.2 MT for the Selkirk Mine in Botswana

 

Selkirk Deposit

 

Inferred Mineral Resource Estimate of 44.2 million tonnes at 0.81% CuEq or 1.91g/t PdEq.

 

Contained metal Inferred - 132,000 tonnes copper and 108,000 tonnes nickel

 

Toronto, Ontario—(Newsfile Corp. - November 27, 2024) - Premium Resources Ltd. (TSXV: PREM) (“PREM” or the “Company”) is pleased to report an initial Mineral Resource Estimate (“MRE”) with an effective date of November 1, 2024, prepared in accordance with CIM (2014) Definitions Standards incorporated in National Instrument 43-101 - Standards of Disclosure for Mineral Projects (“NI 43-101”), on its past-producing Nickel-Copper-Platinum Group Elements sulphide (“Ni-Cu-PGE “) Selkirk deposit in Botswana (the “Selkirk Mine”). The completed NI 43-101 Technical Report, once finalized, will be filed on SEDAR+ (www.sedarplus.ca) under PREM’s issuer profile within 45 days of the date of this news release.

 

Details of the initial MRE are shown below along with accompanying tables (Tables 1 through 3) and visuals (Figure 1).

 

Key Takeaways

 

The initial MRE was prepared using results from 232 surface and 10 underground historical drillholes drilled between 2003 and 2016, five 2016 drillholes sampled by PREM in 2021, and 17 historical drillholes resampled in 2024.

 

Analytical results from PREM re-sampling showed higher PGE values compared to historic results and additional resampling is expected to result in higher Pt and Pd grades and contained metal.

 

The initial MRE was prepared under the conceptual processing scenario of producing two separate concentrates. Additional work on alternate processing options may result in higher recoveries.

 

Cobalt, a potentially valuable by-product, has not been included in the initial MRE as cobalt analyses are not consistently available throughout the deposit. Planned metallurgical studies will determine payability of cobalt at the Selkirk Mine.

 

 

 

 

Keith Morrison, CEO of PREM, commented: “This initial MRE serves as a solid foundation for advancing the Selkirk deposit to an economic study. The Company is currently evaluating whether the initial MRE cut-off grade assumptions can be improved through future engineering and metallurgical studies aimed at optimizing the overall efficiency of the mine.”

 

The initial MRE shown in Table 1 was prepared by SLR Consulting (Canada) Ltd. (“SLR”) using a Net Smelter Return (“NSR”) cut-off value of US$25/tonne and consensus metal pricing (Table 2).

 

Table 1: Selkirk Deposit Mineral Resource Estimate - November 1, 2024

 

Classification 

Tonnage

Mt

 

Cu

%

 

Ni

%

 

Pd

g/t

 

Pt

g/t

 

CuEq*

%

 

NiEq**

%

 

PdEq***

g/t

 

Cu

kt

 

Ni

kt

 

Pd

koz

 

Pt

koz

Inferred  44.2  0.30  0.24  0.55  0.12  0.81  0.79  1.91  132  108  775  174

 

*CuEq% calculated using the formula Cu% + Ni%*(55.605/53.913) + Pd g/t*(22.948/53.913) + Pt g/t*(14.891/53.913) using metal prices and recoveries listed below in Notes.

 

*** NiEq% calculated using the formula Ni%+Cu%*(53.913/55.605) + Pd g/t*(22.948/55.605) + Pt g/t*(14.891/55.605) using metal prices and recoveries listed below in Notes.

 

*** PdEq g/t calculated using the formula Pd g/t+Cu%*(53.913/22.948) + Ni%*(55.605/22.948) + Pt g/t*(14.891/22.948) using metal prices and recoveries listed below in Notes.

 

Notes:

 

1.CIM (2014) definitions were followed for mineral resources.

 

2.Mineral resources are estimated at a NSR cut-off value of $25/t.

 

3.Mineral resources are estimated using long-term prices of US$10.50/lb Ni, US$4.75/lb Cu, US$1,450/oz Pt and US$1,500/oz Pd, and a US$: BWP exchange rate of 1.00:13.23.

 

4.Mineral Resources are estimated using nickel, copper, palladium, and platinum recoveries of 60%, 70%, 59%, and 59%, respectively, derived from metallurgical studies which consider a conceptual two concentrate scenario.

 

5.Bulk density has been estimated.

 

6.Mineral resources are reported within an optimized pit shell.

 

7.There are no mineral reserves.

 

8.Mineral resources that are not mineral reserves do not have demonstrated economic viability.

 

9.Totals may not add or multiply accurately due to rounding.

 

The Selkirk property consists of a single mining licence covering an area of approximately 14.6 square kilometres and four prospecting licences covering an area of approximately 126.7 square kilometres.

 

 

 

 

Historic Core Resampling Program

 

As part of the data verification process, cores from 17 historic drillholes were re-sampled and compared to historical assay results. Results from nickel and copper were comparable, but the historical Pt and Pd results demonstrated a slight underestimation, offering an opportunity for improvement.

 

Mineral Resource Estimate

 

All mineral resource domains at the Selkirk Mine were defined within Seequent’s Leapfrog Geo software, and sub-block model estimates were completed within Leapfrog Edge software using historical and PREM assay results of historical core as of November 1, 2024.

 

Domain orientation and morphology have been informed by surface and underground drilling and channel samples and mapping completed by historical operators. The mined-out areas have been given a 5 metre buffer.

 

In addition to standard database validation techniques, wireframe and block model validation procedures including wireframe to block volume confirmation, statistical comparisons with composite and nearest neighbour estimates, swath plots, visual reviews in 3D, longitudinal, cross section and plan views, as well as cross software reporting confirmation, were completed. In addition to SLR’s internal peer and senior review processes, PREM’s technical team have reviewed the initial MRE.

 

Blocks were classified following CIM Definitions (2014) as Inferred using drill hole spacing based criterion. Inferred mineral resources at Selkirk were defined where drill hole spacings of up to approximately 200 metres were achieved. Mineral Resources are reported within an optimised pit shell referencing an NSR cut-off value of US$25/t. All blocks with an NSR value greater than US$25/t and situated within the Whittle pit shell have been reported in the Mineral Resource Estimate.

 

NSR and Mineral Resources Cut-off Value

 

NSR values have been estimated for an operating scenario that includes open pit mining and production of a two-concentrate product. Metal prices are based on long-term forecasts from banks, financial institutions and other sources. The metal prices and other input parameters used in development of a unit NSR value for each block are provided in Table 2.

 

Table 2: NSR Value Calculation

 

Commodity  Metal
Prices
  Net
Metallurgical
Recovery (%)
   Refining Cost (US$)   Transport Cost/wmt   Treatment Cost/dmt
(Bulk Con)
   Royalty 
Nickel  US$10.50/lb   60%   0.96/lb              2%
Copper  US$4.75/lb   70%   0.45/lb              2%
Palladium  US$1,500/oz   59%   50.00/oz              2%
Platinum  US$1,450/oz   59%   50.00/oz              2%
Nickel concentrate               US$150   US$220      
Copper concentrate               US$150   US$220      

 

 

 

 

For the purposes of mineral resource reporting, open pit constraining shapes were developed using the Whittle Pit Optimizer based on an NSR cut-off value of US$25/tonne. Parameters used to calculate the cut-off grade are given in Table 3.

 

Table 3: The cut-off parameters, based on previous study work

 

Parameter  Unit  Value 
Mining (open pit)  US$/t milled  $3.00 
Processing  US$/t milled  $23.00 
G&A  US$/t milled  $0.64 
Sustaining (capex)  US$/t milled  $0.56 
Total Unit Operating Cost (Break Even)  US$/t milled  $27.20 
Total Unit Operating Cost (Discard)  US$/t milled  $24.20 

 

Quality Control

 

Drill core samples are NQ (47.75 mm diameter). All samples are ½ core previously cut by a diamond saw on site. Samples are generally at one metre intervals or less at the discretion of the site geologists. Sample preparation and lab analysis was completed at ALS Chemex in Johannesburg, South Africa. Commercially prepared blank samples and certified Cu/Ni sulphide analytical control standards with a range of grades are inserted in every batch of 20 samples or a minimum of one set per sample batch. Analyses for Ni, Cu and Co are completed using a peroxide fusion preparation and ICP-AES finish (ME-ICP81). Analyses for Pt, Pd, and Au are by fire assay (30 grams nominal sample weight) with an ICP-AES finish (PGM-ICP23).

 

Qualified Persons

 

The initial MRE described in this news release was reviewed and approved by Valerie Wilson, M.Sc., P.Geo. (Ontario) SLR Consulting Ltd. Principal Resource Geologist, who is independent of PREM and a “qualified person” for purposes of NI 43-101.

 

Verification included a site visit to inspect historical mineralized core, explore the gossanous outcrop at surface, observe existing infrastructure, including the Selkirk underground ramp, and inspect several surface drillhole collar locations. In addition, all of the samples collected by PREM have been verified against independently accessed assay certificates and a random selection of historical database results have been compared against digital records.

 

 

 

 

The scientific and technical content of this news release has been reviewed and approved by Sharon Taylor, Vice President Exploration of the Company, who is a “qualified person” for the purposes of NI 43-101.

 

Technical Report

 

In 2023, the Company filed a technical report in respect of the Selkirk Mine titled “NI 43-101 Technical Report, Selkirk Nickel Project, Northeast District, Republic of Botswana” dated April 12, 2023 (with an effective date of March 31, 2023) (the “Selkirk Technical Report”), a copy of which is available on SEDAR+ (www.sedarplus.ca) under the Company’s issuer profile.

 

A Technical Report Summary (TRS) on the Selkirk Mine was prepared by SLR, with an effective date of May 31, 2024, and was filed by PREM on June 28, 2024. This previous TRS did not include a Mineral Resource estimate.

 

About Premium Resources Ltd.

 

PREM 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.

 

PREM is committed to governance through transparent accountability and open communication within our team and our stakeholders. Our 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. PREM’s 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.

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

Keith Morrison

Director and Chief Executive Officer

Premium Resources Ltd.

 

For further information about Premium Resources Ltd., please contact:

 

Jaclyn Ruptash

Vice President, Communications and Government and Investor Relations

+1 (604) 770-4334

 

 

 

 

Cautionary Note Regarding Forward-Looking Statements:

 

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. For the purposes of this release, forward looking information includes, but is not limited to: the response to mineral resource estimates in Botswana; the support for the redevelopment of the Selkirk Mine from the Botswana Government and local stakeholders; mining at Selkirk; the ability to upgrade the inferred mineral resources at Selkirk; the publication by the Company of a future preliminary feasibility study; the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selkirk Mine as currently contemplated; the ability of exploration activities (including drill results) to accurately predict mineralization; management’s belief that the Selebi and Selebi North deposits may be connected at depth; the timing and ability of the Company to publish an economic study (by H1 2025 or at all); any discrepancies between the initial mineral resource estimate technical report and the scientific and technical information in this news release; the timing to release of the remaining assay results; the ability of the Company to implement its drilling, geoscience and metallurgical work on its properties and work plans generally; the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selebi Mine and Selkirk Mine as currently contemplated; the ability of the Company to define additional or upgrade existing mineral resource estimates on the Selkirk Mine in accordance with NI 43-101; the productivity rates for mining at Selkirk; drilling results confirming the legacy fold pattern continues at depth; the effective targeting activities proposed by the Company; the ability to identify additional mineralization down plunge of existing workings and the ability of such findings to be used to complete a mineral resource estimate and/or to support further economic studies; the ability and timing of advancing the mining programs at the Selebi Mine and the Selkirk Mine as contemplated (if at all); the ability to expand the resource potential at the Selkirk Mine; the results of the mining program at the Selkirk Mine and the timing and disclosures of the Company regarding same; the relationships between, and continuity of, the various deposits (if any); the benefits of the Company’s approach to exploration; management’s belief that the Historic Resource could be indicative of the presence of mineralization on the deposits; and the anticipated benefits of the Company’s approach to the resource development plan. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; the ability of exploration results to predict mineralization, prefeasibility or the feasibility of mine production; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.com) under PREM’s issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

 

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

 

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A map of a large area

Description automatically generated

 

Figure 1. Selkirk block model on Geology. Location of re-sampled historical drillholes shown on inset map.

 

 

 

 

 

Exhibit 99.16

December 2, 2024

 

Premium Resources Ltd. Announces Management and Board Changes

 

Toronto, Ontario--(Newsfile Corp. - December 2, 2024) -Premium Resources Ltd. (TSXV: PREM) (OTC Pink: PRMLF) (“ PREM”, and together with its subsidiaries, the “Company) announces the retirement of Keith Morrison as Chief Executive Officer and a director of PREM, to take effect December 31, 2024. PREM has commenced a search process to recruit a new CEO.

 

Sean Whiteford, President of Premium Resources International, will continue to oversee the Company’s operational activities and Paul Martin, currently a director of PREM, will assume oversight of corporate activities, and serve as the interim CEO, pending appointment of a successor. Mr. Morrison and PREM have agreed on a consulting arrangement under which he will continue to be available to support the ongoing progression of the Company’s Selebi and Selkirk mines.

 

James K. Gowans, Chair of the Board, commented: “More than any other person, Keith Morrison has been responsible for identifying and assembling the Company’s Botswana mineral properties and advancing our understanding of their size, global significance and economic value. On behalf of all the directors, I want to thank him for his leadership in advancing the Selebi and Selkirk assets.”

 

PREM also announces that, effective upon the completion of the CEO search process, James K. Gowans will retire as Chair of the Board but continue as a director of PREM. Paul Martin will be appointed Chair of the Board.

 

Mr. Gowans added: “I want to welcome Paul to the role of Chair of the Board. Paul has made a strong positive impression in his relatively short tenure on the Board, and I and all of the other directors appreciate his willingness to take up these leadership roles.”

 

Sean Whiteford is a geologist and mining executive with over 30 years of multi-commodity experience within the global resource sector. He has extensive knowledge of mineral exploration, resource definition, mining, strategy, technology and project studies, having held various corporate, operational and technical roles at, among others, BHP, Rio Tinto and Cliffs Natural Resources. He has been a director or senior officer of PREM or affiliated companies since the inception of PREM in August 2022. He is a Member of the AUSIMM, PDAC and SEG. and has completed the Advanced Management Program from Columbia Business School.

 

 

 

 

Mr. Martin was appointed as a director of PREM on September 19, 2024. He is a mining executive with over thirty years’ experience at the director, CEO and CFO levels. He has gained significant experience through his various roles at multi-operational mining, royalty and exploration companies listed on the TSX, TSXV and NYSE. He currently serves as the Chair of the Board of Red Pine Exploration and as a director of Osisko Bermuda Limited. Mr. Martin was interim CEO at Osisko Gold Royalties Ltd. from July to December 2023 and at Red Pine Exploration from March to August 2024, in each case during CEO transition periods. He was previously President and CEO at Detour Gold Corporation from 2013 to 2018.

 

About Premium Resources Ltd.

 

PREM 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. We are driven by our belief that the demand for these metals will continue to grow in the medium to long term, as a result of global urbanization and the increasing adoption of electric motors over internal combustion engines. These metals are vital for achieving a low-carbon future.

 

PREM is committed to governance through transparent accountability and open communication within our team and our stakeholders. Our 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. PREM’s 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.

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

James K. Gowans
Chair of the Board
Premium Resources Ltd.

 

For further information about Premium Resources Ltd., please contact:

 

Jaclyn Ruptash
Vice President Communications and Government and Investor Relations
+1 (604) 770-4334

 

 

 

 

Cautionary Note Regarding Forward-Looking Information

 

Certain statements contained in this news release may be considered “forward-looking statements” within the meaning of applicable Canadian securities laws. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Forward-looking statements are not guarantees of performance. Words such as “may”, “will”, “would”, “could”, “expect”, “believe”, “plan”, “anticipate”, “intend”, “estimate”, “continue”, or the negative or comparable terminology, as well as terms usually used in the future and the conditional, are intended to identify forward-looking statements. Information contained in forward-looking statements reflects assumptions that management believes to be appropriate in the circumstances. The Company considers its assumptions to be reasonable based on information currently available but cautions the reader that their assumptions regarding future events, many of which are beyond the control of the Company, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect the Company and its businesses.

 

The forward-looking statements set forth herein concerning the Company reflect management’s expectations as at the date of this news release and are subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law.

 

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

 

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Linked in: https://www.linkedin.com/company/Premium-Resources

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Exhibit 99.17

 

December 5, 2024

 

Premium Resources Ltd. Grants Stock Options

 

Toronto, Ontario—(Newsfile Corp. - December 5, 2024) - Premium Resources Ltd. (TSXV: PREM) (OTC Pink: PRMLF) (“PREM” or the “Company”) announces that, effective December 4, 2024, it has granted to certain directors, officers, employees and/or consultants of the Company and/or its subsidiaries an aggregate of 300,000 stock options of the Company (“Options”) pursuant to the stock option plan of the Company.

 

The Options have an exercise price of C$0.49 per share and a five-year term from the date of grant. 175,000 of the Options vest immediately and the remaining 125,000 vest annually in equal thirds beginning on the date of grant.

 

About Premium Resources Ltd.

 

PREM 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.

 

PREM is committed to governance through transparent accountability and open communication within our team and our stakeholders. Our 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. PREM’s 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.

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

Paul Martin

Director

Premium Resources Ltd.

 

For further information about Premium Resources Ltd., please contact:

 

Jaclyn Ruptash

Vice President, Communications and Government and Investor Relations

+1 (604) 770-4334

 

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

 

Follow Us

 

X (formally Twitter): https://twitter.com/Prem_Resources

Linked in: https://www.linkedin.com/company/Premium-Resources

Facebook: https://www.facebook.com/PremiumResourcesLtd.

 

 

 

 

Exhibit 99.18

 

December 10, 2024

 

Premium Resources Continues to Intersect Significant Lengths of Mineralization at Selebi North: 16.80 Metres of 5.77% CuEq or 2.80% NiEq

 

Toronto, Ontario—(Newsfile Corp. - December 10, 2024) - Premium Resources Ltd. (TSXV: PREM) (OTC Pink: PRMLF) (PREM”or the”Company) announces high-grade assay results for a further eight in-fill drilling holes, all drilled within the Mineral Resource Estimate (“MRE”) at its past-producing nickel-copper-cobalt sulphide (“Ni-Cu-Co”) Selebi North underground (“SNUG”) mine in Botswana.

 

Infill Drilling Assay Highlights for Resource Reclassification:

 

  SNUG-24-148: N3 Limb

 

  14.95 metres of 3.47% CuEq or 1.68% NiEq (0.99% Cu, 1.20% Ni, 0.06% Co)

 

  SNUG-24-158: N3 Limb

 

  13.70 metres of 5.35% CuEq or 2.59% NiEq (1.13% Cu, 2.05% Ni, 0.10% Co)

 

  SNUG-24-160: South Limb

 

  16.80 metres of 5.77% CuEq or 2.80% NiEq (2.04% Cu, 1.81% Ni, 0.08% Co)

 

Sean Whiteford, President of Premium Resources International, commented: “These results reaffirm the significant potential of the Selebi North deposit, emphasizing the continued intercepting of high-grade polymetallic sulphide mineralization. As we advance this project, these drill results strengthen our confidence in the quality and scale of our resource base. This progress will be further supported by economic and engineering studies designed to maximize its potential.

 

We anticipate re-commencing exploration drilling on the down plunge EM targets at Selebi Main in Q1 2025.”

 

Assay results for SNUG holes reported herein are provided below in Table 1 for SNUG-24-148,152,154,155,158,159,160 and 163; and drill hole collar details are provided in Table 2.

 

True thickness of mineralization was estimated using the wireframe as part of the MRE (see PREM news release dated August 8, 2024). Figures 1 and 2 show the location of the holes relative to the MRE and underground infrastructure.

 

Drill core photos for all highlighted holes released to date, including the holes reported herein, are accessible by Clicking Here and can also be found on the Company’s website at www.premiumresources.com.

 

 
 

 

Table 1: Assay Results Selebi North Deposit

 

Hole-ID   From
(m)
  To
(m)
  1Length
(m)
  2Est. True
Thickness
(m)
  Cu
(%)
  Ni
(%)
  3Co
(%)
  Limb   4CuEq
(%)
  5NiEq
(%)
SNUG-24-148   299.35   314.30   14.95   14.2   0.99   1.20   0.06   N3   3.47   1.68
incl.   299.35   308.00   8.65   8.2   1.05   1.75   0.09   N3   4.66   2.26
*incl.   299.35   302.00   3.20   3.0   1.04   2.75   0.13   N3   6.71   3.25
and   305.55   308.00   2.45   2.3   1.25   2.51   0.14   N3   6.43   3.12
SNUG-24-152   484.10   486.60   2.50   1.9   0.52   1.77   0.09   N3   4.18   2.03
SNUG-24-154   294.80   296.25   1.45   1.4   1.11   2.17   0.09   South Limb   5.60   2.71
SNUG-24-155   248.85   256.00   7.15   6.6   0.84   0.54   0.02   South Limb   1.94   0.94
SNUG-24-158   332.00   335.70   3.70   2.7   2.18   0.81   0.04   N3   3.84   1.86
incl.   332.00   333.25   1.25   0.9   6.14   0.48   0.02   N3   7.14   3.46
SNUG-24-158   361.30   375.00   13.70   5.6   1.13   2.05   0.10   N3   5.35   2.59
incl.   367.10   375.00   7.90   3.2   1.74   2.55   0.14   N3   7.00   3.39
SNUG-24-159   332.20   334.10   1.90   1.8   1.14   1.50   0.07   South Limb   4.24   2.06
SNUG-24-160   249.50   266.30   16.80   16.6   2.04   1.81   0.08   South Limb   5.77   2.80
incl.   249.50   255.55   6.05   6.0   1.51   2.14   0.10   South Limb   5.93   2.88
and   257.50   266.30   8.80   8.7   2.39   1.86   0.08   South Limb   6.22   3.01
SNUG-24-160   312.50   326.60   14.10   12.2   0.74   0.96   0.04   South Limb FW   2.73   1.32
incl.   321.90   326.60   4.70   4.0   1.20   1.21   0.05   South Limb FW   3.69   1.79
SNUG-24-160   384.30   395.75   11.45   10.2   0.63   1.14   0.06   N2 Limb   2.98   1.45
incl.   392.35   395.75   3.40   3.0   0.58   2.05   0.11   N2 Limb   4.81   2.33
SNUG-24-163   224.80   226.75   1.95   1.9   0.22   0.96   0.05   South Limb   2.19   1.06
SNUG-24-163   233.70   235.85   2.15   2.0   1.25   1.20   0.05   South Limb   3.72   1.80

 

1Length refers to drillhole length.

2True thickness is estimated using the MRE wireframe where available.
3Co is not included in the MRE as cobalt analyses are not consistently available throughout the deposit.

4 CuEq was calculated using the formula CuEq=Cu+2.06*Ni assuming long-term prices of US$10.50/lb Ni and US$4.75/lb Cu nickel and copper recoveries of 72.0% and 92.4% respectively, derived from metallurgical studies which consider a conceptual bulk concentrate scenario.

5 NiEq was calculated using the formula NiEq=Ni+0.485*Cu.

 

 
 

 

Table 2: Drill Collar Information Selebi North Deposit

 

HOLE ID   Mine
East
  Mine
North
  Elevation   Dip   Mine
Azimuth
  Hole
Length
  Comment
SNUG-24-148   35089.4   84548.6   -42.4   -42.5   276.0   502.9   Rig #2 925mL P8
SNUG-24-152   35089.6   84548.4   -42.3   -48.3   271.4   536.7   Rig #2 925mL P8
SNUG-24-154   35376.8   84427.7   80.8   -67.9   325.8   347.3   Rig #3 810mL P4
SNUG-24-155   35321.6   84606.6   82.4   -68.7   261.8   302.4   Rig #1 810mL P6
SNUG-24-158   35089.5   84548.3   -42.3   -46.0   265.9   462.8   Rig #2 925mL P8
SNUG-24-159   35376.6   84427.8   80.7   -67.8   305.9   365.1   Rig #3 810mL P4
SNUG-24-160   35320.3   84607.3   82.7   -35.3   279.3   440.1   Rig #1 810mL P6
SNUG-24-163   35323.0   84605.0   82.0   -47.2   286.1   293.4   Rig #1 810mL P6

 

Drilling and BHEM Continues

 

As of December 8, 2024, a total of 63,000 metres in one hundred and sixty (160) drillholes have been drilled from eight underground drill bays with. BHEM surveys have been completed in 63 underground holes. This new drilling is a combination of infill and exploration drilling to follow the extension of the mineralization down dip and down plunge.

 

New assay results not captured in the MRE will be published as they are received and verified by the Company. Due to the extensive drilling that has intersected mineralization, the Company has released assay results only for the most significant intercepts. The results of these new drill holes will be included in a future mineral resource update, with the goal of both expansion and reclassification of the MRE. It is PREM’s ambition that these pending results combined with future drilling would support the progression towards an economic study prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

 

Quality Control

 

The underground drilling program is being carried out through an agreement with Forage Fusion Drilling Ltd. of Hawkesbury, Ontario, Canada, who have provided three Zinex U-5 drills for purchase and training of local operators. Drill core samples are BQTK (40.7 mm diameter). All samples are ½ core cut by a diamond saw on site. Half of the core is retained for reference purposes. Samples are generally 1.0 to 1.5 metre intervals or less at the discretion of the site geologists. Sample preparation and lab analysis was completed at ALS Chemex in Johannesburg, South Africa. Commercially prepared blank samples and certified Cu/Ni sulphide analytical control standards with a range of grades are inserted in every batch of 20 samples or a minimum of one set per sample batch. Analyses for Ni, Cu and Co are completed using a peroxide fusion preparation and ICP-AES finish (ME-ICP81).

 

 
 

 

Holes are numbered as follows: SNUG (Selebi North Underground) + year + hole number starting at 013.

 

BHEM Surveys

 

The BHEM surveys at Selebi utilize the Crone PEM system operated by local Batswana staff. Survey data is collected using a 3-component fluxgate probe collecting full waveform data. Surveys have been collected using timebases between 50 and 1000ms (0.25 Hz to 5 Hz). The data has been processed to a calculated residual step response to better quantify the conductive sources. This added processing has proven to be invaluable because of the size of the highly conductive mineralized system.

 

Qualified Person

 

The scientific and technical content of this news release has been reviewed and approved by Sharon Taylor, Vice President Exploration of the Company, who is a “qualified person” for the purposes of National Instrument 43-101.

 

Technical Report

 

The MRE on the Selebi Mine is supported by the Technical Report. Reference should be made to the full text of the Technical Report for the assumptions, qualifications and limitations set forth therein, a copy of which is available on SEDAR+ (www.sedarplus.com) under PREM’s issuer profile.

 

About Premium Resources Ltd.

 

PREM 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.

 

PREM is committed to governance through transparent accountability and open communication within our team and our stakeholders. Our 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. PREM’s 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.

 

ON BEHALF OF THE BOARD OF DIRECTORS

 

Paul Martin

Director

Premium Resources Ltd.

 

For further information about Premium Resources Ltd., please contact:

 

Jaclyn Ruptash

Vice President, Communications and Government and Investor Relations

+1 (604) 770-4334

 

 
 

 

Cautionary Note Regarding Forward-Looking Statements

 

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. For the purposes of this release, forward looking information includes, but is not limited to: the response to the MRE in Botswana; the support for the redevelopment of the Selebi Mine from the National Government and local stakeholders; drilling at Selebi North; the ability to upgrade the inferred mineral resources on Selebi North; possible expansion potential down-dip and down-plunge of the existing MRE; the publication by the Company of a potential updated MRE or future prefeasibility study; the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selebi Mine as currently contemplated; the ability of exploration activities (including drill results) to accurately predict mineralization; management’s belief that the Selebi and Selebi North deposits may be connected at depth; the timing and ability of the Company to publish a prefeasibility study (by H1 2025 or at all); any discrepancies between the MRE technical report and the scientific and technical information in this news release; the timing to release of the remaining assay results; the ability of the Company to implement its drilling, geoscience and metallurgical work on its properties and work plans generally; the implementation of the objectives, goals and future plans of the Company including the proposed advancement of the Selebi Mine as currently contemplated; the ability of the Company to define additional or upgrade existing mineral resource estimates on the Selebi Mine in accordance with NI 43-101; the productivity rates for underground drilling at Selebi North; drilling results confirming the legacy fold pattern continues at depth; the effective targeting activities proposed by the Company; the ability to identify additional mineralization down plunge of existing workings and the ability of such findings to be used to complete a MRE and/or to support further economic studies; the ability and timing of advancing the underground drilling program at Selebi North as contemplated (if at all); the ability to expand the resource potential at the Selebi Mine; the results of the drill program on Selebi North and the timing and disclosures of the Company regarding same; the relationships between, and continuity of, the various deposits (if any); the benefits of the Company’s approach to exploration; management’s belief that the Historic Resource could be indicative of the presence of mineralization on the deposits; and the anticipated benefits of the Company’s approach to the resource development plan. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; the ability of exploration results to predict mineralization, prefeasibility or the feasibility of mine production; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.com) under PREM’s issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

 

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

 

Follow Us

 

X (formally Twitter): https://twitter.com/Prem_Resources

Linked in: https://www.linkedin.com/company/Premium-Resources

Facebook: https://www.facebook.com/PremiumResourcesLtd

 

 
 

 

 

Figure 1: Selebi North Location of Reported Drill Holes with 2024 Mineral Resource Estimate.

 

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/7759/233147_46b65a7914e6d80b_002full.jpg

 

 

Figure 2: Detailed view showing location of Selebi North drillholes reported and mentioned in this release with 2024 Mineral Resource Estimate, Underground Infrastructure and Modeled BHEM Plates.

 

 

 

 

HOLE ID   FROM
(m)
  TO
(m)
  1LENGTH
(m)
  Cu
(%)
  NI
(%)
  Co
(%)
  Au
(ppm)
  Pt
(ppm)
  Pd
(ppm)
  2CuEq
(%)
  3NiEq
(%)
DSLK012   71.00   211.00   139.00   0.47   0.38   0.02   0.08   0.16   0.68   1.55   0.90
DSLK028   37.00   110.00   68.70   0.32   0.26   0.01   0.06   0.13   0.61   1.11   0.64
DSLK035   61.00   92.85   31.85   0.29   0.27   0.01   0.05   0.13   0.62   1.10   0.64
DSLK035   110.00   189.00   79.00   0.24   0.22   0.01   0.05   0.11   0.49   0.90   0.52
DSLK037   31.15   120.00   88.85   0.29   0.27   0.01   0.05   0.14   0.61   1.09   0.63
DSLK039   120.00   238.00   108.01   0.29   0.21   0.01   0.05   0.11   0.44   0.93   0.54
DSLK040   81.00   169.00   88.00   0.37   0.30   0.02   0.05   0.12   0.53   1.23   0.71
DSLK040   186.60   200.00   13.40   0.51   0.27   0.02   0.05   0.12   0.53   1.30   0.76
DSLK047   107.00   264.00   157.00   0.35   0.29   0.02   0.09   0.12   0.54   1.21   0.70
DSLK075   50.00   73.00   23.00   0.24   0.24   0.01   0.04   0.10   0.50   0.94   0.55
DSLK075   89.00   101.00   12.00   0.27   0.26   0.01   0.05   0.13   0.60   1.06   0.62
DSLK075   115.00   214.00   99.00   0.32   0.27   0.01   0.06   0.13   0.63   1.15   0.67
DSLK079   100.00   214.00   114.00   0.41   0.35   0.02   0.05   0.14   0.59   1.36   0.79
incl.   123.00   188.00   65.00   0.50   0.43   0.02   0.05   0.17   0.70   1.64   0.96
DSLK086   56.00   76.00   20.00   0.19   0.20   0.01   0.04   0.10   0.39   0.77   0.45
DSLK086   106.00   274.00   168.00   0.30   0.32   0.02   0.05   0.13   0.56   1.19   0.69
DSLK139   277.00   333.00   56.00   0.33   0.28   0.02   0.06   0.13   0.55   1.15   0.67
incl.   277.00   297.00   20.00   0.39   0.35   0.02   0.06   0.15   0.64   1.38   0.80
DSLK145   90.00   128.00   38.00   0.13   0.16   0.01   0.03   0.09   0.40   0.64   0.37
DSLK145   140.00   202.00   25.80   0.06   0.08   0.01   0.01   0.04   0.14   0.28   0.16
DSLK145   213.00   349.50   136.50   0.28   0.27   0.01   0.05   0.13   0.55   1.06   0.62
incl.   249.00   349.50   100.50   0.31   0.28   0.01   0.05   0.14   0.60   1.14   0.66
DSLK216   61.00   273.00   210.20   0.36   0.32   0.02   0.06   0.14   0.57   1.25   0.73
incl.   61.00   97.00   36.00   0.24   0.27   0.02   0.05   0.11   0.44   0.99   0.58
and   117.00   273.00   154.45   0.41   0.35   0.02   0.06   0.15   0.64   1.39   0.81
DSLK218   14.00   46.00   32.00   0.26   0.18   0.02   0.04   0.11   0.33   0.80   0.46
DSLK219   21.00   36.60   15.60   0.29   0.23   0.01   0.05   0.11   0.43   0.95   0.55
DSLK219   41.00   63.80   22.80   0.33   0.24   0.02   0.06   0.11   0.45   1.03   0.60
DSLK219   78.90   99.00   20.10   0.59   0.34   0.02   0.09   0.13   0.61   1.57   0.91
DSLK219   111.00   130.00   19.00   0.27   0.18   0.01   0.04   0.08   0.48   0.84   0.49
DSLK219   181.00   191.00   10.00   0.26   0.18   0.01   0.04   0.08   0.29   0.77   0.45
DSLK232   35.00   70.84   35.84   0.98   1.20   0.06   0.12   0.33   1.74   4.04   2.35
incl.   47.3   64.00   16.70   1.56   1.73   0.1   0.09   0.37   2.14   5.78   3.36
DSLK243   120.00   306.25   186.25   0.48   0.41   0.02   0.08   0.17   0.76   1.65   0.96

 

 

 

 

Exhibit 99.19

 

 

December 23, 2024

 

PREMIUM RESOURCES AMENDS CONSULTING AGREEMENT WITH ALTITUDE CAPITAL PARTNERS

 

Toronto, Ontario, December 23, 2024 Premium Resources Ltd. (TSXV: PREM) (OTC Pink: PRMLF) (PREM” or the “Company) announces, further to the Company’s news release dated October 17, 2024 (entitled “Premium Nickel Engages Altitude Capital Partners”), that it has entered into an amended and restated consulting agreement dated December 20, 2024 (the “Consulting Agreement”) with Altitude Capital Partners Inc. (“Altitude”) which is effective as of October 1, 2024.

 

The Consulting Agreement has a term of an initial term of six months. The Company has agreed to pay Altitude a reduced monthly fee of CAD$10,000. No stock options or other securities have been issued to Altitude or are issuable under the Consulting Agreement. The previously announced agreement with Altitude will be replaced in its entirety with the Consulting Agreement.

 

Under the terms of the Consulting Agreement, Altitude will provide the following services to the Company: providing capital market intelligence in respect of potential capital market strategies based on PREM’s present stage of development; review and analysis of strategic opportunities for PREM; examining sources of funding and future capital requirements; and analyzing market depth and opportunities for future financings.

 

About Premium Resources Ltd.

 

PREM 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.

 

PREM is committed to governance through transparent accountability and open communication within our team and our stakeholders. Our 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. PREM’s 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.

 

For further information about Premium Resources Ltd., please contact:

 

Jaclyn Ruptash

Vice President, Communications and Government and Investor Relations

+1 (604) 770-4334

 

1
 

 

Cautionary Note Regarding Forward-Looking Statements:

 

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. For the purposes of this release, forward looking information includes, but is not limited to: the term length of engagement of Altitude; the global trend towards electrification and renewable energy; the significance of copper and nickel sources and the demand relating to energy and metals; and the objectives, goals and future plans of the Company, including the proposed advancement of the Selebi and Selkirk projects. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; and those risks set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.com) under PREM’s issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

 

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

 

Follow Us

 

X (formally Twitter): https://twitter.com/Prem_Resources

Linked in: https://www.linkedin.com/company/Premium-Resources

Facebook: https://www.facebook.com/PremiumResourcesLtd

 

2

 

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Cover
Aug. 15, 2024
Cover [Abstract]  
Document Type 8-K
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Document Period End Date Aug. 15, 2024
Current Fiscal Year End Date --12-31
Entity File Number 000-14740
Entity Registrant Name PREMIUM RESOURCES LTD
Entity Central Index Key 0000795800
Entity Incorporation, State or Country Code A6
Entity Address, Address Line One Suite 3400
Entity Address, Address Line Two One First Canadian Place
Entity Address, Address Line Three P.O. Box 130
Entity Address, City or Town Toronto
Entity Address, State or Province ON
Entity Address, Country CA
Entity Address, Postal Zip Code M5X 1A4
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Local Phone Number 770-4334
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Pre-commencement Tender Offer false
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Entity Emerging Growth Company false

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