Premier African Minerals Regulatory News (PREM)

3 April 2023

Premier African Minerals Limited

Zulu Lithium Update

Premier African Minerals Limited ("Premier" or the "Company"), provides an update on the first production at Zulu Lithium and Tantalum Project ("Zulu").

George Roach, CEO commented, "Two issues have delayed production this past weekend. The first is one final approval from a Zimbabwean authority who is working closely with Zulu to ensure that the approval is provided as soon as possible.

The second is the late delivery of one outstanding reagent. This was short-ordered due to an error on the part of the plant supplier as announced on the 29 March 2023. The reagent is freely available but not in Africa and complications related to airfreight of a chemical substance has caused this delay. It must be noted that the delay on this reagent does not necessarily stop the production of spodumene, however it will affect the grade of spodumene concentrate produced.

We believe that the above issues will be resolved in the coming days and will update the market thereafter."

Floatation for concentration of Spodumene.

The flowsheet for spodumene production in simplified terms requires that the ROM ore is milled to less than 200 micron and then processed in the floatation circuits. The ore contains a mica rich component that includes lepidolite and this should be removed in the first stages of the floatation process. The material that is free of the mica component is then passed to the spodumene floatation circuit that will normally produce SC6. The missing reagent is essential for the recovery and concentration of the mica/lepidolite fraction.

Whilst the mica circuit can be completely bypassed, the concentrate grade that would be achieved in the spodumene circuits would be lower than 6% and would contain contaminants. Whilst likely saleable in the present environment, this is not what Zulu intends to produce.

The person who arranged the release of this announcement on behalf of the Company was George Roach.

Enquiries:

Forward Looking Statements:

Certain statements in this announcement are or may be deemed to be forward looking statements. Forward looking statements are identied 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 reect 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. The Company has accepted a share offer by Vortex Limited ("Vortex") for the exchange of Premier's entire 4.8% interest in Circum Minerals Limited ("Circum"), the owners of the Danakil Potash Project in Ethiopia, for a 13.1% interest in the enlarged share capital of Vortex. Vortex has an interest of 36.7% in Circum.

In addition, the Company holds a 19% interest in MN Holdings Limited, the operator of the Otjozondu Manganese Mining Project in Namibia.

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