As something that may be worth considering-comparing. . . . Comstock Mining, Inc., (LODE) in Nevada has a story similar to PEM's, old claims in an old mining area, etc. This past summer (of 2010) LODE announced a new NI-43-101 of Measured and Indicated at 1,060,000 ounces and Infered ounces at 380,000 ounces. Their stock jumped from about .60 a share to over $3.00 a share. An article I read said that they want to try to initiate some mining (underground tunnels already exist) sometime in 2011 and that LODE's share price could rise significantly over time. The article alluded to some "majors" being very focused on LODE.

Premium Exploration's Friday-Petsite could end up having 1m to 2m+++ ounces in possibly a less expensive above groung mining operation. Airborn-mag. surveys, along with other indicators, show multiple additional locations along PEM's OSZ land holdings which have Friday-Petsite like signatures. I join Pitbull13 in what he said in his prior posting, that big investors in PEM are looking for a 500-600% gain in their investment. In my humble opinion, that could be achieved with just PEM's Friday-Petsite location.

As an aside, I mentioned here previously, PEM is considering possibly doubling the number of drills on site in 2011.