TIDMPREM

RNS Number : 9944V

Premier African Minerals Limited

12 April 2023

12 April 2023

Premier African Minerals Limited

Zulu Lithium Update

Premier African Minerals Limited ("Premier" or the "Company"), is pleased to provide a further update on the first production at Zulu Lithium and Tantalum Project ("Zulu").

George Roach, CEO commented , "I am very pleased to confirm that the two pending matters for Zulu (as announced on the 3 April 2023) have now fully been resolved with the reagent at site and all formal approvals are now in place to begin commercial production.

With plant commissioning already complete, we are now going through the final stages of process control implementation with the plant designers with first concentrate expected shortly and first shipments now targeted for the end of the month."

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

Enquiries:

 
 George Roach        Premier African Minerals     Tel: +27 (0) 100 
                      Limited                      201 281 
 Michael Cornish     Beaumont Cornish Limited     Tel: +44 (0) 20 
  / Roland Cornish    (Nominated Adviser)          7628 3396 
                    ---------------------------  ----------------- 
 John More/Toby      Shore Capital Stockbrokers   Tel: +44 (0) 20 
  Gibbs               Limited                      7408 4090 
                    ---------------------------  -----------------

Forward Looking Statements:

Certain statements in this announcement are or may be deemed to be forward looking statements. Forward looking statements are identi ed 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 re ect 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 a ccepted 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.

Ends

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April 12, 2023 07:30 ET (11:30 GMT)

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