RHA Tungsten Update

7 July 2026

Premier African Minerals Limited

RHA Tungsten Update

Premier African Minerals Limited ("Premier" or the "Company") confirms that it has received correspondence confirming the approved transfer of the Zimbabwean Government shares in RHA Tungsten Private Limited ("RHA Tungsten") previously held by the Ministry of Industry and Commerce through the National Indigenisation and Economic Empowerment Fund to the Ministry of Mines and Mining Development, under the stewardship of the Zimbabwe Mining Development Corporation ("ZMDC").

Premier is handling the implementation of the share transfer process and is working with the relevant parties to initiate and oversee the legal, financial and administrative steps necessary to execute and finalise the transfer. The correspondence further confirms that His Excellency, the President Dr. E.D. Mnangagwa, approved the transfer and that the relevant parties have been instructed to immediately commence and oversee all steps required to give effect to the approved transfer.

The correspondence also directs ZMDC to urgently engage with Premier so that the parties can move forward without delay and exhaust all necessary avenues to address the outstanding operational, legal and capital matters required to support the reinstatement of commercial operations at RHA Tungsten.

Graham Hill, Managing Director, commented, "Premier has now received direct written confirmation of the approved share transfer in relation to RHA Tungsten to ZMDC. This removes a key area of uncertainty and provides a clearer basis for Premier to progress commercial discussions on the future of RHA Tungsten.

Given the current tungsten price environment and the level of initial interest we are seeing around a potential transaction, this clarification is timely. Premier remains committed to engaging constructively with ZMDC to assess and advance any transaction capable of delivering value for the Company and its shareholders through our holding in RHA Tungsten."

Market Abuse Regulations

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").

The person who arranged the release of this announcement on behalf of the Company was Graham Hill.

A copy of this announcement is available at the Company's website, www.premierafricanminerals.com.

Enquiries:

Nominated Adviser Statement

Beaumont Cornish Limited ("Beaumont Cornish"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in connection with this announcement and will not regard any other person as its client and will not be responsible to anyone else for providing the protections afforded to the clients of Beaumont Cornish or for providing advice in relation to such proposals. Beaumont Cornish has not authorised the contents of, or any part of, this document and no liability whatsoever is accepted by Beaumont Cornish for the accuracy of any information, or opinions contained in this document or for the omission of any information. Beaumont Cornish as nominated adviser to the Company owes certain responsibilities to the London Stock Exchange which are not owed to the Company, the Directors, Shareholders, or any other person.

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 encompassing brownfield projects with near-term production potential to grass-roots exploration.