Premier African Minerals Regulatory News (PREM)

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

For immediate release

26 January 2017

Premier African Minerals Limited

("Premier" or the "Company")

Zulu Lithium and Tantalum Project Update

Completion of 2,500 metre drilling programme

Premier African Minerals Limited (AIM: PREM), the London quoted mining exploration and production company, is pleased to report the completion of the 2,500 metre drilling programme at the Company's Zulu Lithium and Tantalum Project ("Zulu") in Zimbabwe.

George Roach, Premier's CEO, commented: 

"I am pleased to report that the 2,500 metre drilling programme is now complete, ahead of our anticipated completion date in mid-February. Work continues on core logging, splitting and sample preparation, and we will continue to publish results as they come to hand. Those received to date support our expectation that Zulu will become a substantial world-class deposit.

''Massive visible spodumene/petalite mineralisation over significant lengths continues to be seen as do assay results over 2% contained Lithium Oxide."

About the Zulu Lithium Project:

Zulu is located 80km east of Bulawayo and easily accessible by road. The project comprises 14 claims covering a surface area of 3.5km². Zulu is generally regarded as potentially the largest undeveloped lithium bearing pegmatite in Zimbabwe. The project was first pegged in 1955 and intensely explored until the early 1960s. Minor petalite production was reported for 1961 and 1962. The pegmatite bodies intruded along serpentine and sedimentary rocks over a strike length of several kilometres. The width varies between 10 and 25 meters. The bigger pegmatites to the north of the Machakwe River are rich in spodumene and lepidolite, the smaller pegmatites south of the Machakwe River are rich in petalite. The pegmatite bodies strike N20° and dip between 70° - 90° to the west. Parts of the pegmatites are rich in tantalite-(Mn).

Qualified Person:

Wolfgang Hampel, Exploration Manager of Premier African Minerals Limited, has reviewed and approved this release to the extent that reference is made to the Zulu tenements. 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.

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.

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

Enquiries:

Notes to Editor:

Premier African Minerals Limited (AIM: PREM) is a multi-commodity mining and natural resource development company focused in Southern and Western Africa with production started at its flagship RHA project in Zimbabwe.

The Company has a diverse portfolio of projects, which include tungsten, rare earth elements, gold, lithium and tantalum in Zimbabwe and Benin, encompassing brownfield projects with near-term production potential to grass-roots exploration. The Company recently acquired a 52% controlling stake in Mozambique-based TCT Industrias Florestais Limitada, which owns a substantial limestone deposit and forestry business located on rail in the Sofala Province of Mozambique. In addition, The Company holds 2 million 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. At present those shares are valued at US$4 million based on the latest price at which Circum has accepted subscriptions. Premier also has a 4.5% interest in Casa Mining Limited, a privately-owned exploration company that has a 71.25% interest in the 1.2 million ounce inferred resource Akyanga gold deposit in the DRC.

Glossary of Technical Terms

"pegmatite" is an exceptionally coarse-grained igneous rock, with interlocking crystals, usually found as irregular dikes, lenses, or veins, esp. at the margins of granitic intrusions

 "petalite" is the mineral name for lithium aluminium silicate LiAl(Si4O10) an important ore of lithium

 "spodumene" is the mineral name for lithium aluminium silicate LiAlSi2O6 an important ore of lithium. 

ENDS