Premier African Minerals Regulatory News (PREM)

Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining

For immediate release

31 August 2018

Premier African Minerals Limited

RHA Drilling Update

Premier African Minerals Limited ("Premier" or the "Company") is pleased to report that the Company has commenced the diamond drilling programme at the open pit at the RHA Tungsten Mine ("RHA"). As stated in the announcement dated 14 August, the Company plans to drill a series of fifteen, inclined, 50m deep holes to determine the depth at which the ore body is sufficiently consolidated to allow resumption of open pit mining. This stage of the drill programme is expected to complete by end September and noteworthy results will be published as they are available.

Simultaneous with this, the open pit is now being remapped using UV lighting. Near surface, wolframite is often coated by a thin layer of scheelite, another major tungsten ore mineral with a distinctive blue-white fluorescence. In the open pit, wolframite may be difficult to identify, however this scheelite surface is easily visible and is expected to greatly assist in tracking mineralised zones. Existing data, open pit mining over the past two years, previous drilling, surface mapping and this new drill programme when combined will collectively lead to a definitive understanding of the mineralisation in the pit and will guide the future of the open pit.

The Company expects to release details of potential reprocessing of historic tailings in support of the reopening of underground operations. Contact with the Government of Zimbabwe remains open and we expect that following the inauguration of the President, final hurdles on the equity restructure at RHA will conclude.

Qualified Person:

Wolfgang Hampel, Senior Geologist with Premier African Minerals Limited, has reviewed and approved this release to the extent that reference is made to the RHA Project. Mr Hampel has 27 years' experience in the African, American, European and Asian exploration and mining industry and holds a Diploma in Economic Geology (Dipl.-Geol.) from the Technical University of Munich. He is a registered European Geologist (EurGeol). n° 1261 with the European Federation of Geologists.

Enquiries:

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 and Zulu projects in Zimbabwe.

The Company has a diverse portfolio of projects, which include tungsten, rare earth elements, lithium and tantalum in Zimbabwe, encompassing brownfield projects with near-term production potential to grass-roots exploration. In addition, the Company holds 5,010,333 shares in Circum Minerals Limited ("Circum"), the owners of the Danakil Potash Project in Ethiopia, which has the potential to be a world class asset. Premier also has an interest in Arc Minerals that has a number of mineral assets in Europe and Africa.

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. Many 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.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. 

ENDS