Premier African Minerals Limited Zulu Lithium Update (1961N)

TIDMPREM

RNS Number : 1961N

Premier African Minerals Limited

21 September 2023

Premier African Minerals Limited

Zulu Lithium Update

Premier African Minerals Limited ("Premier" or the "Company"), is pleased to report on the progress of the installation and commissioning of the RHA Ball Mill ("Mill") at Premier's Zulu Lithium and Tantalum Project ("Zulu").

George Roach, CEO, commented , " Subsequent to our update of 23 August 2023, I am pleased to confirm the completion of the installation of the Mill including all necessary feeds and discharge components, pumps, control circuitry and grinding media requirements that is expected to support planned production of up to 1,000 tons per month of spodumene from November 2023 at Zulu.

The commissioning phase is now planned to commence from today with first material expected to be fed through the Mill on Monday, 25 September 2023.

Open pit mining operations at Zulu are expected to resume next week and while there is already substantial material on the run-of-mine pad, it remains critical that the plant has sufficient ore for current processing.

Further updates will follow in Premier's unaudited interim results for the six months ended 30 June 2023 which will be published on 29 September 2023 ."

Video of Mill circuit of Zulu plant:

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Market Abuse Regulation

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.

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

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

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" "planned" "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.

Enquiries:

 
 George Roach        Premier African Minerals 
                      Limited                     Tel: +27 (0) 100 201 281 
 Michael Cornish /   Beaumont Cornish Limited 
  Roland Cornish      (Nominated Adviser)         Tel: +44 (0) 20 7628 3396 
                    ---------------------------  -------------------------- 
 Douglas Crippen     CMC Markets UK Plc           Tel: +44 (0) 20 3003 8632 
                    ---------------------------  -------------------------- 
 Toby Gibbs/Rachel   Shore Capital Stockbrokers 
  Goldstein           Limited                     Tel: +44 (0) 20 7408 4090 
                    ---------------------------  --------------------------

Ends

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September 21, 2023 03:00 ET (07:00 GMT)

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