Premier African Minerals Regulatory News (PREM)

11 June 2026

Premier African Minerals Limited

Funding

Premier African Minerals Limited ("Premier" or the "Company") is pleased to announce that it has today completed a subscription to raise approximately £800,000 before expenses through the issue of new ordinary shares of nil par value in the capital of the Company at an issue price of 0.02 pence per new ordinary share (the "Issue Price").

Following the Company's operational update announced on 10 June 2026 in relation to the Zulu Lithium and Tantalum Project ("Zulu"), it remains of fundamental importance that Premier continues to support all essential operational requirements across both Premier and Zulu. The funding will principally be utilised to support ongoing activities at Zulu following the successful production of first spodumene concentrate from the newly commissioned flotation plant and general working capital requirements.

The funding will enable the Company to continue optimisation activities, refine operating parameters and support the ongoing operational requirements necessary to advance Zulu towards sustained production and commercial operation.

Graham Hill, Managing Director, commented:

"This funding provides important working capital to support ongoing operational requirements at Zulu and the continued optimisation of the modified existing plant and the newly commissioned flotation plant.

The recent production of first spodumene concentrate represents an important operational milestone for the Project and provides initial confirmation that the flotation circuit is operating and producing as expected. Whilst optimisation remains ongoing, we are encouraged by the initial plant performance and the improvements in operational stability that have been achieved to date.

The Board remains firmly focused on advancing Zulu towards sustained production, improving concentrate quality and recovery, and delivering long-term value from what we believe is a significant lithium asset."

Subscription

Premier has today issued by way of a direct subscription ("Subscription"), conditional on admission, 4,000,000,000 new ordinary shares of nil par value ("Subscription Shares") at the Issue Price. The Subscription Shares will, when issued, rank pari passu in all respects with the existing ordinary shares.

The issue of the Subscription Shares has been arranged within the Company's existing share authorities. Premier intends to use the proceeds of the Subscription principally to assist with the ongoing optimisation of the new Flotation Plant, operating expenses at Zulu, and the management of essential creditors at Zulu and to provide general working capital for Premier.

The Subscription Shares will, when issued, rank pari passu in all respects with the existing ordinary shares. CMC Markets UK Plc trading as CMC CapX, acted as the Company's placing agent in respect of the placing.

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Admission

Application has been made for the 4,000,000,000 Subscription Shares to be admitted to trading on AIM. Admission is expected to take place on or around 17 June 2026.

Total Voting Rights

Following the issue of the Subscription Shares, the Company's issued share capital will consist of 43,303,760,989 ordinary shares with voting rights.

This figure may be used by shareholders as the denominator for the purposes of calculating whether they are required to notify an interest in, or any change to an interest in, the Company's share capital under the Financial Conduct Authority's Disclosure and Transparency Rules.

Enquiries:

Nominated Adviser Statement

Beaumont Cornish Limited ("Beaumont Cornish"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in connection with this announcement and will not regard any other person as its client and will not be responsible to anyone else for providing the protections afforded to the clients of Beaumont Cornish or for providing advice in relation to such proposals. Beaumont Cornish has not authorised the contents of, or any part of, this document and no liability whatsoever is accepted by Beaumont Cornish for the accuracy of any information, or opinions contained in this document or for the omission of any information. Beaumont Cornish as nominated adviser to the Company owes certain responsibilities to the London Stock Exchange which are not owed to the Company, the Directors, Shareholders, or any other person.

Forward Looking Statements

Certain statements in this announcement are or may be deemed to be forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'' ''could'' "should" ''envisage'' ''estimate'' ''intend'' ''may'' ''plan'' ''will'' or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth results of operations performance future capital and other expenditures (including the amount. Nature and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The Company cannot assure investors that actual results will be consistent with such forward-looking statements. 

Notes to Editors:

Premier African Minerals Limited (AIM: PREM) is a multi-commodity mining and natural resource development company focused on Southern Africa with its RHA Tungsten and Zulu Lithium projects in Zimbabwe.

The Company has a diverse portfolio of projects, which include tungsten, rare earth elements, lithium and tantalum in Zimbabwe and lithium and gold in Mozambique, encompassing brownfield projects with near-term production potential to grass-roots exploration.

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