Premier African Minerals Regulatory News (PREM)

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

For immediate release

26 July 2017

Premier African Minerals Limited

("Premier" or the "Company")

Zulu Lithium Project - Drilling Update

Premier African Minerals Limited (AIM: PREM), the London listed mining and exploration company, is pleased to provide an update on its drilling programme at the Company's Zulu Lithium Project near Fort Rixon in Zimbabwe ("Zulu"). The current drilling programme is focussed on expanding as well as upgrading the resources in the Main Zone of the license area where the Company delineated a Maiden Mineral Resource Estimate at Zulu of 20.1 million tonnes grading 1.06% Li₂O (as announced on 6 June 2017).

Highlights:

· 12 diamond core holes completed

· Significant massive visible lithium mineralisation zones intersected in all holes

· Diamond drill hole ZDD-40 intersected 4 meters of mineralisation from 88 meters down hole to 92 meters and 14 meters from 118 meters to 132 meters

· Diamond drill hole ZDD-37 intersected 5.50 metres of mineralisation downhole from 10 meters to 15.5 meters, 11.20 metres from 20 meters to 31.20 meters and 12 metres from 37.50 meters to 50.5 meters (drilling is still ongoing)

· Several new pegmatite zones discovered in the south of the license area

George Roach, Premier's CEO, commented: 

"These new results are most encouraging. The new intersections again confirm the potential of Zulu and are likely to significantly increase our maiden resource estimate of 20.1 million tonnes grading 1.06% at Zulu. In addition, our field reconnaissance programme discovered more new pegmatites in the south of the license area which further demonstrates the widespread mineralisation at Zulu. Our current exploration target is between 60-80 million tonnes, however this excludes the recently discovered pegmatite zones in our license area.

Drill hole ZDD-37 for example, demonstrates the potential of the Zulu project. The drill angle and the dip suggests that the intersections are near true widths and this supports our belief that Zulu is host to one of the best hard rock lithium exploration projects today. As previously reported, we continue discussions with a number of interested parties and I look forward to providing updates on these discussions as well as assay results as they come to hand."

Drilling at Zulu:

The Company has now completed 12 drill holes, since completion of the initial 2,500 metres drilling programme that resulted in the Maiden Mineral Resource Estimate at Zulu of 20.1 million tonnes grading 1.06% Li₂O (as announced on 6 June 2017). The current drilling programme is focussed on expanding as well as upgrading the resources in the Main Zone. All of the 12 new drill holes have intersected mineralisation with ZDD-37 having the best intersection so far.

The surface field reconnaissance programme discovered several new pegmatite zones in the south-east of the license. Diamond drilling has confirmed the presence of even more massive pegmatites in this zone. This discovery comes after the Company has discovered six new pegmatite zones during its field reconnaissance programme that was focussed on the eastern part of its license. These discoveries were recently made when farmers harvested the land in the eastern part of the license area and this part of the license area with very few outcrops, became accessible. The Company is now looking at further exploration efforts on these new zones to establish the continuation as well depth extensions.

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 26 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 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 2,649,333 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$5.2 million based on the latest price at which Circum has accepted subscriptions. Premier also has an 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.

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.

Glossary of Technical Terms

"Li2O" means Lithium oxide

 "lepidolite" is the mineral name for lithium bearing mica KLi2Al(Si4O10)(F,OH)2 an important ore of lithium

"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