Zulu and Corporate Update

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

Zulu Operational Update

Pursuant to the RNS on 1 August 2024, Enprotec, the supplier of the flotation plant, has informed the Company that, in their opinion, no additional fundamental changes to the currently installed plant equipment are necessary to achieve the intended recoveries and grade. Enprotec has been conducting a series of laboratory tests to better understand the core processes of the plant, including reagent dosing amounts and points, agitation speeds, flow rates between components, slurry densities, cell residence times, and alternative water sources introduced into the flotation section. These tests are crucial for further optimising the flotation circuit.

Enprotec has notified Premier that they anticipate completing all laboratory test work by the end of this week, at which point the lead time for restarting operations will be determined.

At the same time, the Company has also been conducting a further financial review of the potential operating costs at Zulu with consideration of the impact of an enlarged float plant in due course to accommodate the surplus capacity on the front end of the plant. Internal Company estimates, which have not been independently verified, indicate that an enlarged float plant could result in a target mine gate production cost for spodumene concentrate of circa US$500 per ton.

George Roach, CEO, commented," Premier remains appreciative of the efforts and input from Enprotec and look forward to updating shareholders on the results of their test work. Premier is heartened with the outcome of the internal financial review and hasten to add that this still does not make any allowance for any potential revenue derived from Tantalum recovery or any other industrial mineral from the Zulu pegmatite.

Premier will run the plant when the laboratory work has been completed and when we have resolved the optimisation issues that have prevented proper production to date. Whilst this has reduced current expenditure, the Company will still need further funding and in particular to recommence production later this month."

ENPROTEC

Enprotec have reviewed and approved this release to the extent that reference is made to the flotation plant. Enprotec is a Multi-disciplinary Engineering Applications Group that Offers End-to-end Solutions to the Mining & Mineral Processing Industry. Enprotec aim to extract ore optimally and derive tangible value for its clients from their operations while eliminating environmental risks. Enprotec is a global partner in the mineral processing industry, offering a diverse range of solutions and technologies.

Enprotec involvement in Zulu was originally under the engagement and direction of Stark. Following Zulu's engineering team taking over as the operator of the Zulu plant, Enprotec have agreed to provide such support as requested by Zulu as may be required in the continuing optimisation, remedy and improvement of the Stark designed flotation plant.

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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

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