Premium Nickel Resources

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About Company

Premium Nickel Resources Ltd. (TSX-V: PREM) is a Canadian mineral exploration and development company focused on redeveloping past-producing nickel, copper, cobalt, and platinum group element (PGE) sulphide mines in Botswana. The company operates through its wholly owned subsidiary, Premium Resources Botswana, which leads operations in the country.

Key Projects in Botswana

1. Selebi Mine

  • Location: Near Selebi-Phikwe, Central District.

  • History: Originally operated by BCL Limited from 1980 until 2016, when it was placed on care and maintenance.

  • Acquisition: Premium Nickel acquired the mine in January 2022.

  • Infrastructure: Features two shafts—Selebi (1,140 meters) and Selebi North (970 meters)—along with existing rail, power, and water infrastructure.

  • Resource Estimates:

    • Selebi Main: 18.89 million tonnes (Mt) inferred at 3.51% copper equivalent (CuEq) or 1.70% nickel equivalent (NiEq).

    • Selebi North: 3.00 Mt indicated at 2.92% CuEq (1.42% NiEq) and 5.83 Mt inferred at 3.11% CuEq (1.51% NiEq).

  • Current Activities: Ongoing underground drilling and geophysical surveys aim to upgrade resources and support a prefeasibility study expected by 2025.

2. Selkirk Mine

  • Location: Approximately 28 kilometers southeast of Francistown.

  • History: Previously operated by Tati Nickel Mining Company until 2002.

  • Acquisition: Premium Nickel completed the acquisition in August 2022.

  • Resource Estimates: 44.2 Mt inferred at 0.3% copper, 0.24% nickel, 0.55 grams per tonne (g/t) palladium, and 0.12 g/t platinum.

  • Current Activities: Conducting resource expansion drilling and metallurgical optimization studies.

Strategic and Financial Developments

  • Financing: In June 2024, the company upsized its private placement to approximately CAD $27.5 million to advance its Botswana projects, reflecting strong investor interest.

  • Bridge Loan: Secured a CAD $7 million bridge loan in November 2022 to fund ongoing work on its Botswana assets, providing flexibility to finalize long-term financing initiatives.

  • Name Change: In November 2024, the company changed its name from Premium Nickel Resources Ltd. to Premium Resources Ltd. to better reflect its broader focus on critical metals beyond nickel.

Commitment to Sustainability

Premium Resources emphasizes responsible mining practices, aiming to minimize environmental impact and contribute to local economic development. The company is committed to transparency, stakeholder engagement, and adhering to international environmental, social, and governance (ESG) standards.