Additional Funding for Zulu

Premier African Minerals Limited ("Premier" or the "Company") is pleased to announce that following strong institutional interest following the funding announced on 11 April 2024, the Company has agreed to accept a further subscription of 588,235,294 new ordinary shares to raise approximately £1 million before expenses at the same issue price of 0.17 pence per new ordinary share primarily for the Zulu Lithium and Tantalum Project ("Zulu").

Funding and Subscription

Premier has today issued by way of a direct subscription ("Subscription"), conditional on admission, 588,235,294 new ordinary shares of nil par value ("Subscription Shares") at a Subscription price of 0.17 pence per Subscription Share. The Subscription Shares will, when issued, rank pari passu in all respects with the existing ordinary shares. CMC Markets UK Plc trading as CMC CapX, acted as the Company's placing agent in respect of the Subscription.

Application will be made for the Subscription Shares to be admitted to trading on AIM and admission is expected to take place on or around 19 April 2024.

Total Voting Rights

Following the issue of the Subscription Shares, the Company's issued share capital consists of 29,616,938,211 Ordinary Shares, with voting rights.

Market Abuse Regulations

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.

CMC CapX