Premium Exploration

August 30, 2013, Vancouver, British Columbia – Premium Exploration Inc. (TSXV: PEM; OTCQX: PMMEF) (“Premium” or the “Company”) announces that it has entered into a binding letter agreement dated August 29, 2013 (the “Letter Agreement”) with an arms’ length party (the “Purchaser”) pursuant to which Premium has agreed to sell and the Purchaser has agreed to acquire a 24.9% interest in Premium’s wholly owned U.S. subsidiary, Premium Exploration USA Inc. (“PEM USA”) through the issuance of 249 common shares (the “Shares”) in the capital of PEM USA to the Purchaser, in exchange for an immediate advance of $200,000 (the “Funds”) (the “Sale Transaction”).

Funny how the number of shares is identical to the % if you remove the decimal. Could it be that this was just a way to quickly get the money to Premium so they didn't lose the property that they still feel may have a future?