Premium Resources Generates Drill Targets in Botswana with BHEM Technology

PREM owns two previously-producing copper, nickel, cobalt and platinum-group-element (PGE) mines in Botswana, a safe, mineral-rich Tier 1 mining jurisdiction in Africa.

Exploration at the Selebi Project Area began in 1959 with geochemical sampling and diamond drilling by a local company called Bamangwato Concessions Limited. The Selebi copper-nickel discovery was made in 1963.

The underground Selebi Mines were in production between 1980 and 2016. Both Selebi and Selebi North mines, having produced 40 million tonnes of ore, were put into Care & Maintenance due to low metal prices and a failure of the on-site smelter.

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On March 18, 2025 it was announced that a consortium of institutional investors made sizable early bets on the future of Premium's Botswana assets. The $46 million non-brokered equity financing included the participation of the Fiore Management and Advisory Corporation, headed by Frank Giustra.

"Premium Resources has been reactivated with new money, new talent and new ideas," Morgan Lekstrom, CEO of Premium Resources told Guy Bennett, CEO of Global Stocks News (GSN).

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"The previous operator drilled more than 400 surface holes into the Selebi Main and North Deposits," Lekstrom told GSN. "We inherited the historical data including location maps. Our team identified the strategically located historical holes and opened them up and began an extensive borehole electromagnetic program (BHEM)."

"With BHEM, a transmitter loop is placed on the surface," explained Lekstrom. "The receiver is lowered into the empty historical hole and functions like a large metal detector. In this area, the only conductive material is sulphides, which based on our drilling to date correlates with high-grade mineralization. BHEM is a quick cost-effective method of expanding our knowledge of the ore body, and generating drill targets."

"The significant step-outs and ongoing expansion that we are achieving, in the time frame, clearly illustrates that this deposit expands well beyond the boundaries of the current resource area," stated Lekstrom in the May 27, 2025 press release.

"Given the strong grades in our existing resource well over 3% CuEq, each successful step-out highlights the potential that was previously undefined. Our use of BHEM and our deep understanding of the technology has enabled us to target and drill these step-downs with a high degree of precision."

"While the current resource has a down-plunge extent of 965 metres, our drilling has intercepted more massive sulphides (host to the copper, nickel and cobalt) and extended the deposit by approximately 315 meters."

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The May 27, 2025 PREM news follows successful BHEM results announced on May 1, 2025 that revealed "significant mineralization at Selebi North Underground below the Mineral Resource Estimate [1.], confirming the down-plunge continuation of massive sulphides".

Follow-up drilling is already underway to further evaluate the continuity and scale of both the South Limb and N2 mineralized systems. Assays for 2025 drill holes are expected in early July and will be released as they are received.

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Currently, diamonds account for around 80% of Botswana's exports, one-third of fiscal revenues, and one-quarter of GDP. The country is the world's largest diamond producer by value.

"I've had the privilege of meeting the new President Duma Boko," Lekstrom told GSN. "He is a Harvard Law School graduate, a passionate politician and a sharp businessman. Boko wants to expand Botswana's extraction industry beyond diamonds. It's a natural progression. They have the commodities, a skilled workforce and the capacity for ample solar power generation."

Recent interest in the Selebi and Selkirk Mines has been catalysed by a surge in demand for critical metals required for the green energy transformation (Solar, EVs). In the last five years, as demand drivers intensify, the price of copper has increased 92% - from USD $2.36/lb to $4.50/lb.

[1.] The MRE on the Selebi Mine is supported by the 2024 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 and on PREM's website here.

The technical information presented in this news release has been reviewed and approved by Sharon Taylor, Vice President Exploration, who is the Qualified Person for technical disclosure at Premium Resources, as defined by NI 43-101 "Standards of Disclosure for Mineral Projects".

Contact: guy.bennett@globalstocksnews.com

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