Zulu Assay Results and Pilot Plant Update

Jan 30, 2023 at 7:00 AM UTC · Issued by Premier African Minerals Ltd.

30 January 2023

Premier African Minerals Limited

Premier African Minerals Limited ("Premier" or the "Company"), is pleased to report on assay results at Premier's Zulu Lithium and Tantalum Project ("Zulu"). These results are from boreholes that are located within the area planned to be mined under operation of the Pilot Plant and will constitute a portion of the Mineral Resource update required to support the DFS.

Highlights:

· Multiple thick high-grade zones intersected.

· Consistent progress in construction of the Pilot Plant

George Roach, CEO commented , "The assay results reported on today continue to demonstrate good lithium values over significant widths that are all supportive of the quality of the mineralised pegmatites we intend to mine in the first phases of the pilot plant operations.

We are into the home stretch with pilot plant construction and site activity is frenetic with multiple work streams all targeting the same near-term completion date. Pre-strip has commenced in the initial pit area to be developed. Activity in the pilot plant assembly areas is now on a 24/7 basis. In the absence of any unforeseen issue, I expect that first shipments of SC6 will commence in Q1 as projected.

We still have a significant backlog of assay results and continue to develop a mining model for the pilot plant that is expected to deliver run of mine material from pegmatites that are dominated by spodumene. Whilst I am not in a position to provide direct guidance yet, it should be noted that the design capacity on the floatation circuit anticipates a mass pull of up to 30% at a design feed rate of 40 tons per hour of milled material. This represents a potential 12 ton per hour of spodumene rich concentrate. Until the plant operates, it is not possible to accurately predict either the feed grade of spodumene rich material reaching the floatation circuit, nor to predict the final concentrate grade, or final tonnage production rate. That is the nature of a pilot plant. I will provide further updates over the coming weeks.

I would like to take this opportunity to thank the Chairman of Suzhou TA&A, Mr Pei Zenzhue, for visiting Zulu in January 2023 and expressing his satisfaction with the progress we are making. We look forward to an exciting year".

Drill Holes: Lithium & Tantalum Results

The table below sets out the composites determined, as per the outlined compositing routine in the text below the table, from analyses received from the independent external laboratory (SGS) for holes GT-NP-03, ZDD003, ZDD010, ZDD013, ZDD015, ZDD016, ZDD019, ZDD023, ZDD027-2, ZDD029, ZDD030, ZDD032, ZDD037, ZDD038, ZDD039 & ZDD045.

Table 1 -Assay Summary Results

Hole	From (m)	To (m	Width* (m)	Li₂O%	Ta₂O₅ ppm	Rb ppm
GT-NP-03	167.12	169.46	2.34	0.81	64	1902
ZDD003	24.38	33.14	8.76	1.64	16	1687
Incl.	29.14	32.14	3.00	2.62	15	1128
ZDD003	40.15	44.87	4.72	1.55	19	2134
ZDD003	51.23	54.15	2.92	1.00	73	2109
Incl.	51.23	52.23	1.00	1.69	84	1787
ZDD010	81.58	84.41	2.83	0.76	30	3015
ZDD010	97.34	99.50	2.16	1.39	30	3165
ZDD010	100.93	104.70	3.77	1.57	25	1611
ZDD010	111.34	117.73	6.39	1.09	35	2459
Incl.	116.30	117.30	1.00	2.00	48	2981
ZDD010	119.68	123.08	3.40	1.58	40	2873
ZDD010	145.71	148.60	2.89	1.56	43	1742
ZDD013	111.86	114.37	2.51	1.46	16	1584
ZDD013	116.88	119.60	2.72	1.21	34	2636
ZDD013	122.62	124.89	2.27	0.80	15	2049
ZDD013	134.18	137.12	2.94	1.00	13	2347
Incl.	135.18	136.18	1.00	1.55	21	2880
ZDD013	139.12	143.70	4.58	1.00	28	2154
Incl.	140.12	141.12	1.00	1.81	21	2452
ZDD015	73.61	79.23	5.62	0.98	42	1903
Incl.	75.61	76.61	1.00	1.66	34	1322
ZDD016	27.73	35.95	8.22	1.37	54	1457
Incl.	28.73	29.73	1.00	2.27	35	1271
Incl.	34.44	35.55	1.11	2.49	29	899
ZDD016	40.80	48.22	7.42	0.91	36	2170
Incl.	41.80	42.80	1.00	1.46	88	1891
Incl.	47.22	48.22	1.00	1.51	14	1673
ZDD016	51.79	58.48	6.69	1.29	53	1817
Incl.	54.82	55.92	1.10	2.22	15	516
ZDD019	34.87	36.87	2.00	0.60	106	2891
ZDD023	67.46	71.03	3.57	1.36	72	1837
ZDD023	113.46	117.46	4.00	1.58	18	1814
ZDD023	120.85	124.60	3.75	0.96	27	1957
ZDD027-2	114.45	124.45	10.00	1.17	115	1413
ZDD028	54.12	60.36	6.24	1.00	58	2069
Incl.	58.00	59.36	1.36	1.59	47	2326
ZDD029	22.58	24.58	2.00	1.05	24	1255
ZDD029	30.04	35.97	5.93	0.89	70	1280
Incl.	34.97	35.97	1.00	1.92	204	364
ZDD030	53.06	59.14	6.08	0.85	30	2687
ZDD032	81.12	84.20	3.08	0.90	95	1626
ZDD037	10.93	13.93	3.00	0.80	155	1448
ZDD037	20.25	32.58	12.33	1.29	64	1313
Incl.	20.60	21.60	1.00	2.25	72	1376
ZDD037	37.67	41.00	3.33	0.99	57	872
Incl.	38.67	39.67	1.00	1.88	59	913
ZDD037	46.68	53.55	6.87	1.09	85	1156
ZDD037	74.94	79.00	4.06	1.01	55	784
ZDD038	68.00	70.00	2.00	1.35	19	848
ZDD038	72.78	79.91	7.13	1.15	80	1029
Incl.	72.78	73.78	1.00	1.95	69	914
Incl.	78.91	79.91	1.00	1.76	28	1144
ZDD039	111.36	114.05	2.69	1.13	58	894
ZDD045	102.26	113.31	11.05	1.26	38	1581
Incl.	102.26	104.26	2.00	2.44	11	771
Incl.	108.26	109.26	1.00	2.92	11	1311
Incl.	112.26	113.31	1.05	1.91	94	730
ZDD045	120.69	143.00	22.31	1.41	37	1234
Incl.	121.69	122.69	1.00	2.27	84	161
Incl.	128.31	129.31	1.00	2.35	14	497
Incl.	134.00	138.00	4.00	2.31	12	684
Incl.	140.00	141.00	1.00	2.38	26	220

ZDD045	145.50	152.53	7.03	1.31	40	1752

*Not True Width but drilled width

**0.50% Li₂O cut-off applied.

The following compositing routine has been applied:

·	0.50% Li₂O cut-off was applied to the pegmatitic intersections only.
·	<2m standalone composites at the cut-off grade but with an overall weighted average grade of >0.5% Li₂O are not reported.
·	Within any composite of >2m thickness, high-grade intersections of 1m and greater are reported provided the high-grade intersection is a multiple of x 1.5 of the overall weighted composite grade, and
·	Within any composite, inclusions of country rock of <2m thickness are included within the composite provided the overall grade of the composite is not <0.50% Li₂O.

The following Table 3 sets out the drill hole collar coordinates for the drill holes reported in Table 1 above:

Table 2 - Drill Holes Collar Coordinates - This RNS

Dhole	UTM 35S* Easting	UTM 35S* Northing	Elevation (AMSL)	Azimuth TN ( ° )	Collar Dip ( ° )	EOH (m)
GT-NP-03	751313.001	7782952.020	1334.161	16.98	-70	190.44
ZDD003	751390.294	7783152.151	1352.511	129.74	-61.4	135.98
ZDD010	751387.204	7783018.316	1333.003	339.54	-46	163.13
ZDD013	751186.871	7782642.708	1323.252	296.04	-61.2	158.03
ZDD015	751074.773	7782409.552	1319.483	152.44	-59	100.33
ZDD016	751203.413	7782361.006	1312.172	195.34	-45.2	125.00
ZDD019	751308.553	7784270.773	1344.508	134.24	-60.2	125.00
ZDD023	751348.412	7783001.033	1334.493	340.24	-61.2	140.16
ZDD027-2	751179.951	7782561.657	1318.667	161.04	-60.2	140.08
ZDD028	751323.645	7782631.586	1320.917	225.54	-59.7	140.28
ZDD029	751203.084	7782697.615	1328.882	343.14	-59.3	151.55
ZDD030	751084.593	7782623.225	1316.967	114.34	-60	150.00
ZDD032	751182.236	7782229.22	1315.339	281.54	-59.6	160.95
ZDD037	751375.427	7782183.235	1310.078	225.28	-58.8	140.38
ZDD038	751437.480	7782173.457	1311.838	234.08	-59	140.28
ZDD039	751363.787	7781823.057	1307.616	114.78	-59.6	140.68
ZDD045	751356.684	7782209.746	1309.944	251.88	-60.2	271.12

* ARC1950 Datum (10m local datum shift)

Table 3 - Drilling & Trenching Progress

A summary of the number of drill holes completed both prior to and for the ongoing updated mineral resource estimate as part of the DFS is set out below:

PROGRAMME	No of Drill Holes	Drill Metres (m)	No of Surface Trenches	Trenched Metres (m)
RST (1958)	7	903.90
ZULU - Initial Exploration	6	2,312.90
ZULU - PEA	43	5,809.10
ZULU - Pilot Plant DFS	127	29,134.54	7	832.56
ZULU - DFS (in progress)	0	0	6

Table 4 - Analytical Pipeline

A summary of the status of DFS drill core analysis is set out below:

Results received to date (excluding QA/QC samples)	7140
# QA/QC samples analysed	1027
Sample pulps at SGS Randfontein awaiting analysis	1661
Sample pulps ready to be shipped to SGS	0
Samples being pulped at Antec	0
Ongoing sampling of drill cores/trench samples at site*	0

*Estimate

Quality Assurance/Quality Control (QA/QC)

The drill holes are initially sited using a hand-held GPS (Global Positioning System device) within the tenement areas. Accurate coordinates and elevations of drill holes collars are subsequently derived from a DGPS (Differential Global Position devices) survey.

Drill cores are geologically logged, intersections of interest are selected are marked-up with unique sample ID assigned before splitting and sampling. Cores are cut in half using a core cutter, individual samples bagged, and sent for analysis.

Alternating Certified Refence Materials (CRM), blank or duplicate samples are inserted every 10^th sample into the sample stream sent to the laboratory to ensure QA/QC compliance. These QA/QC samples are assessed upon receipt of analyses, checked and, if acceptable, accepted into the analytical database. Follow-up with the laboratory is instigated in cases were any QA/QC sample fails the QA/QC parameters.

Currently, drill core samples are crushed and pulverised at the Antec Laboratory, Zimbabwe to 85% passing -75 microns. Sample pulps are inspected for export in Harare by the competent government authorities and couriered to the SGS Laboratory Services in Randfontein, South Africa where pulps are fused with sodium peroxide and analysed by ICP-OES and ICP-MS to report 51-elements. (SGS code ICP90A50 & IMS90A50).

The Geology of Zulu

The area, located in the Fort Rixon Greenstone Belt, is underlain by Archaean-aged meta-volcanics and meta-sedimentary sequences of the Bulawayan Supergroup, with serpentinites and banded iron formations at the base in the east and metamorphosed volcano-sedimentary sequences to the west. The greenstone belt is tear drop shaped measuring 30 km long and 19 km wide near the broad section at the top. Metamorphism is retrograded to Greenschist facies.

The Zulu Pegmatite is a LCT (Lithium-Caesium-Tantalum) pegmatite swarm which intrudes along the contacts between serpentine and metamorphosed volcano-sedimentary sequences over a strike length of several kilometres. Outcrop widths vary between 10 and 50m. The pegmatite bodies strike N20° and dip 70° to 90° to the west.

The area was first pegged in 1955 by J.S. Willemse and intensely explored, under option, by mapping, trenching and drilling by Rhodesian Selection Trust Co. Ltd. ("RST") in 1958. In 1961 and 1962 a small quantity of petalite from the River Pegmatites (see below) was mined by W. Burchett in partnership with J.S. Willemse. Premier later acquired the claims in 2013.

Recent mapping and interpretation of the pegmatite swarm from semi-quantitative X-Ray Diffraction (XRD) has identified three distinct phases of pegmatites. A spodumene-rich, thick pegmatite named the Main Zone which lies north and south of the Machakwe River, footwall low-spodumene pegmatites with associated tantalum and rubidium and a suite of petalite-bearing pegmatites of short strike length, named the River Pegmatites.

In general, the lithium minerals, occurring in varying quantities, are coarse grained with associated feldspars and quartz with only very minor sulphides being observed. In several contact zones, the lithium-bearing amphibole, holmquistite, has been observed.

Qualified Person

Bruce Cumming, geologist with Premier, has reviewed and approved this release to the extent that reference is made to Zulu. Mr. Cumming is a SACNASP and GSSA registered geoscientist with 46 years' experience in exploration and project management, in multicommodity projects throughout Africa.

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.

Enquiries:

George Roach

Premier African Minerals Limited

Tel: +27 (0) 100 201 281

Michael Cornish / Roland Cornish

Beaumont Cornish Limited

(Nominated Adviser)

Tel: +44 (0) 20 7628 3396

John More/Toby Gibbs

Shore Capital Stockbrokers Limited

Tel: +44 (0) 20 7408 4090

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.

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.

Glossary of Technical Terms:
"amphibole"	A class of rock-forming silicate or aluminosilicate minerals typically occurring as fibrous or columnar crystals.
"Banded Iron Formation (BIF)"	A sedimentary rock consisting of alternating layers of iron oxides and iron-poor chert.
"DFS"	Definitive Feasibility Study.
"Greenschist facies"	The Greenschist facies is at low pressure and temperature. The facies is named for the typical schistose texture of the rocks and green colour of the minerals chlorite, epidote and actinolite.
"feldspar"	An aluminosilicate mineral consisting of potassium, sodium, and calcium.
"Holmquistite"	A lithium-bearing amphibole related to hornblende with a formula as (Na,K,Ca)Li(Mg,Fe)₃Al₂Si₈O₂₂(OH)_2.
"ICP-OES"	Inductively coupled plasma-optical emission spectroscopy.
"ICP-MS"	Inductively coupled plasma mass spectrometry.
"Lepidolite"	A pink to lavender coloured lithium bearing mineral (KLi 2 Al(Si 4 O 10 )(F,OH) 2 ).
"Li to Li2O"	x 2.153.
"Li"	Lithium.
"Li₂O"	Lithium Oxide (Lithia) - an inorganic lithium compound used to assess lithium minerals.
"m"	Meters.
"meta-sediments"	Sedimentary rocks that have been metamorphosed.
"meta-volcanics"	Volcanic rocks that have been metamorphosed.
"PEA"	Preliminary Economic Study
"Petalite"	A white coloured lithium bearing mineral (LiAl(Si 4 O 10 )).
"ppm"	Parts per million.
"Rb"	Rubidium.
"SC6"	Is a high-purity lithium ore with approximately 6 percent lithium content being produced as a raw material for the subsequent production of lithium-ion batteries for electric vehicles
"serpentinite"	A dark, typically greenish metamorphic rock, consisting of serpentine or related minerals, formed when mafic igneous rocks are altered.
"Spodumene"	A white to pink coloured lithium bearing mineral (LiAlSi 2 O 6 ).
"Ta to Ta2O5"	x 1.221.
"Ta"	Tantalum.
"X-Ray Diffraction"	X-ray diffraction (XRD) is a widely used technique to assess the mineral assemblage, crystallinity and structure of rocks, cores etc.

LITHIUM CLASSIFICATION AND CONVERSION FACTORS

Lithium grades are normally presented in percentages or ppm. Grades of deposits are also expressed as lithium compounds in percentages, for example as a percent lithium oxide (Li ₂ O) content. The standard conversion factors are set out in the table below:

Table: Conversion Factors for Lithium Compounds and Minerals

Convert from		Convert to Li	Convert to Li ₂ O
Lithium	Li	1.000	2.153
Lithium Oxide	Li ₂ O	0.464	1.000

Ends