Premier African Minerals Regulatory News (PREM)

Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining 5 September 2013 Premier African Minerals Limited (`Premier' or `the Company') Option Extended for Tung Mine Adjoining Flagship RHA Tungsten Project, Zimbabwe Premier African Minerals Limited, the AIM quoted multi-commodity naturalresource company with mineral projects located in Western and Southern Africa,announces that it has extended its option agreement (the `Liebenberg Option')for the dormant historic Tung tungsten mine (`Tung'), which covers forty blocksof claims approximately 5 km to the North of the Company's flagship RHATungsten mine project (`RHA') in north-west Zimbabwe, where it is aiming torecommence low-cost mining activities in 2014. Under the terms of theLiebenberg Option, the owners of the claims, Clifford John Liebenberg and CarolAnn Correria have extended the option until 28 February 2014 at the samemonthly option payment of US$4,000 with the exercise price increasing to$156,000 less claim maintenance costs paid by the Company. As set out in the announcement of 28 August 2013 RHA has a maiden SAMRECcompliant code resource of 1,093,000 tonnes at 8.7 kg/t WO3 (Inferred) and147,000 tonnes at 4.7 kg/t WO3 (Indicated). A Preliminary Economic Assessmentand Concept Mining Study have also been completed which illustrate the robusteconomics of the RHA tungsten mine and support a 192,000 tonnes per annum oftungsten-bearing ore operation over a six year mine life. The historic Tungmine is located 5 km north-east of RHA and has a 2km untested strike which theCompany believe could extend the resource potential of RHA in the future. Commenting on this extension, Premier's CEO George Roach said, "The anticipateddevelopments in the coming months at RHA are exciting as we look to arrangefinancing and recommence mining activities in 2014. This extended option, whichI believe could be exercised shortly, further marks our commitment todeveloping RHA into a significant low-capex mining operation. In addition, themany unexplored tungsten occurrences in the immediate RHA/ Tung area and acrossother regions of Zimbabwe, could see the country emerge as a significantTungsten exporter and potentially encourage the development of an ammoniumpara-tungstate (APT) facility." **ENDS** For further information please visit www.premierafricanminerals.com or contactthe following: Pamela Hueston Premier African Minerals Tel: +44 (0) 755 778 3855 Limited Tony Rawlinson Cairn Financial Advisers LLP Tel: +44 (0) 207 148 7900 (Nominated Adviser) Jerry Keen Shore Capital Stockbrokers Tel: +44 (0) 207 408 4090 Limited Edward Mansfield Shore Capital Stockbrokers Tel: +44 (0) 207 408 4090 Limited Felicity Edwards St Brides Media & Finance Ltd Tel: +44 (0) 20 7236 1177 Charlotte Heap St Brides Media & Finance Ltd Tel: +44 (0) 20 7236 1177 Premier African Minerals Limited is a multi-commodity exploration anddevelopment company focussed in Southern and West Africa. As well as itsshareholding in TSX-V quoted AgriMinco, the Company has a diverse portfolio ofmulti-commodity projects which includes tungsten, rare earth elements (`REE'),gold, lithium, tantalum and uranium in Zimbabwe and Togo, which span frombrownfield projects with near-term production potential to grass-rootsexploration. Premier plans to create value by implementing defined explorationand development programmes to prove-up resources with a view to futureproduction and/or forming strategic alliances and completing corporatetransactions to maximise shareholder value. Premier's flagship RHA tungsten project has a SAMREC code compliant resource of1,093,000 tonnes at 8.7 kg/t WOȝ (Inferred) and 147,000 tonnes at 4.7 kg/t WOȝ(Indicated), and a mining study has been completed proving the economicviability of bringing a small-scale tungsten mining operation into productionin 2014. In addition, Premier's Katete REE project in Zimbabwe has thepotential to be developed as a mining project. The project, which spans 3,750ha, has returned a peak result from trenching of 14.6% TREO (non SAMRECcompliant). Premier is a control party to TSX-V listed AgriMinco (TSX-V: ANO), holding 120million shares representing 42% of AgriMinco. See www.agriminco.com.