Premium Nickel Resources Ltd. to Start Trading on the OTCQX Best Market and Appoints Timothy H. Moran as CLO

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Toronto, Ontario – Premium Nickel Resources Ltd. (TSXV: PNRL) (OTCQX: PNRLF) (‘PNRL’ or the ‘Company’), is happy to announce that the widespread shares of the Company will start buying and selling on the OTCQX Best Market (‘OTCQX Market’) on the open of the market on January 20, 2023 beneath the image ‘PNRLF’. The Company confirms appointment of Mr. Timothy H. Moran as Chief Legal Officer and Corporate Secretary, efficient instantly.

Trading on the OTCQX Market is a crucial step for firms in search of to offer clear buying and selling for his or her U.S. buyers. For firms listed on a professional worldwide alternate, streamlined market requirements allow them to make the most of their dwelling market reporting to make their data obtainable within the U.S. To qualify for OTCQX Market, firms should meet excessive monetary requirements, observe finest follow company governance and exhibit compliance with relevant securities legal guidelines. Investors can discover present market data and real-time quotes for the Company on www.otcmarkets.com.

Timothy Moran has been with the Company and Premium Nickel Resources Corporation since September 2019, as Corporate Secretary. As CLO, Mr. Moran will oversee administration of PNRL’s compliance and danger administration. Mr. Moran is a Canadian company and securities legislation skilled with over 30 years of expertise advising home and worldwide private and non-private firms.

About Premium Nickel Resources Ltd.

PNRL is a Canadian firm devoted to the exploration and growth of high-quality nickel copper + cobalt sources. PNRL believes that the medium to long-term demand for these metals will proceed to develop by means of international urbanization and the rising substitute of inside combustion engines with electrical motors. Importantly, these metals are key to a low-carbon future.

PNRL focuses its efforts on discovering world class nickel sulphide property in jurisdictions with rule of-law that adjust to PNRL’s values and ideas which surpasses the very best business requirements. PNRL is dedicated to governance by means of clear accountability and open communication inside our workforce and our stakeholders.

PNRL maintains a talented workforce that has labored on over 100 initiatives collectively, accumulating over 400 years of useful resource discoveries, mine growth and mine re-engineering expertise on initiatives like Selebi and Selkirk. PNRL’s workforce members have on common greater than 20 years of expertise in each single facet of mine discovery and growth, from geology to operations.

On January 31, 2022, PNRL closed the acquisition of PNRL’s flagship asset, the Selebi Mine. The Selebi Mine contains two shafts (Selebi and Selebi North shafts) and associated infrastructure (rail, energy and water). Shaft sinking and plant development began in 1970. Mining concluded in October 2016 when the operations had been positioned on care and upkeep as a result of a failure within the separate and offsite processing facility. The Selebi Mine was subsequently positioned beneath liquidation in 2017. The proposed work plan for the Selebi Mine contains diamond drilling which is anticipated to be ongoing for as much as 18 months. During that point, further metallurgical samples shall be collected and despatched for extra detailed research. The underground infrastructure at Selebi North shall be upgraded to assist an underground drilling program in addition to improved well being & security.

In addition, PNRL is evaluating direct and oblique nickel asset acquisition alternatives globally, and likewise: (i) holds 100% curiosity within the Selkirk Mine which was acquired in August 2022 in addition to 4 adjoining Prospecting Licenses in Botswana, (ii) holds a 100% curiosity within the Maniitsoq property in Greenland, which is a camp-scale permitted exploration mission comprising 3,048 sq. kilometres protecting quite a few high-grade nickel-copper + cobalt-sulphide occurrences related to norite and different mafic-ultramafic intrusions of the Greenland Norite Belt; (iii) holds a 100% curiosity within the Post Creek/Halcyon property in Sudbury, Ontario which is strategically positioned adjoining to the previous producing Podolsky copper-nickel-precious metallic sulphide deposit of KGHM International Ltd.; (iv) holds a 100% possession of property within the Quetico area close to Thunder Bay, Ontario; and (v) is increasing its space of exploration pursuits into Morocco.

Contact:

Keith Morrison

Chief Executive Officer

Premium Nickel Resources Ltd.

Jaclyn Ruptash

Vice President Business Development

T: +1 (604) 770-4334

Cautionary Note Regarding Forward-Looking Statements:

This information launch accommodates ‘forward-looking data’ inside the which means of relevant Canadian securities laws based mostly on expectations, estimates and projections as on the date of this information launch. Forward-looking data entails dangers, uncertainties and different components that might trigger precise occasions, outcomes, efficiency, prospects and alternatives to vary materially from these expressed or implied by such forward-looking data. Forward-looking data on this information launch contains, however isn’t restricted to, targets, objectives or future plans of the Company together with the proposed work plan on the Selebi Mine. Factors that might trigger precise outcomes to vary materially from such forward-looking data embody, however usually are not restricted to, capital and working prices various considerably from estimates; the preliminary nature of metallurgical take a look at outcomes; delays in acquiring or failures to acquire required governmental, environmental or different mission approvals; uncertainties regarding the supply and prices of financing wanted sooner or later; adjustments in fairness markets; inflation; fluctuations in commodity costs; delays within the growth of initiatives; the opposite dangers concerned within the mineral exploration and growth business; and people dangers set out within the Company’s public disclosure report on SEDAR (www.sedar.com) beneath the Company’s issuer profile. Although the Company believes that the assumptions and components utilized in making ready the forward-looking data on this information launch are affordable, undue reliance shouldn’t be positioned on such data, which solely applies as of the date of this information launch, and no assurance will be provided that such occasions will happen within the disclosed time frames or in any respect. The Company disclaims any intention or obligation to replace or revise any forward-looking data, whether or not because of new data, future occasions or in any other case, apart from as required by legislation.

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