Corporate Update

Premier African Minerals Limited ("Premier" or the "Company") announces that George Roach and Premier have today agreed to mutually terminate his consultancy agreement as both the Chief Executive Officer ("CEO") and a director of the Company in accordance with the terms of the consultancy agreement entered into on the 12 December 2012 ("Executive Service Agreement").

George Roach, CEO, said, "It has been an incredible journey to see this business develop and what has been accomplished since I founded Premier in 2007. Following the announcement on the 1 April 2025, Premier now has an opportunity to remedy the last remaining element of the plant not yet fully commissioned and demonstrate definitively the potential that the Zulu Lithium and Tantalum Project has to be a world class producer of Spodumene concentrate and other associated bye products.

In July 2023 I indicated to the Board and our shareholders that it was time for me to step down and that a new CEO be appointed. With our prepayment and offtake partner support in both the lifting of the long stop date and future funding it is as good a time as any to proceed with this change. To whatever extent is necessary and required, I will offer support and assistance as Premier embarks on this next and exciting step."

Godfrey Manhambara, Chairman, commented: "On behalf of the Board and everyone at the Company, I would like to thank George Roach for his support over the years, both in terms of the vital contribution to the founding of Premier and the years of development that have been achieved since. It is fundamental to acknowledge that without his passion, drive and devotion Premier wouldn't have been able to build two mines under his management and guidance.

Premier wishes George the best in his future endeavours and I personally look forward to working with him closely during the next three months to ensure that an orderly transition and handover can be achieved."

Executive Service Agreement

Under the terms of the Executive Service Agreement, George Roach will continue in his role as CEO and director for a further three calendar months with his final day of service being the 31 August 2025 ("Notice Period"). The Notice Period ensure an orderly handover and continuity while a replacement is appointed

In accordance with the Company share dealing code, George Roach will be classified as a good leaver, and he will have a 12-month period following the Notice Period to exercise any previously awarded Options.

The Board has already begun the search for a replacement CEO or non-board managing director and will make further announcements on the new executive management team and any applicable Board appointments in due course.