Issue of Equity

Premier African Minerals Limited ("Premier" or the "Company") is pleased to announce that J R Goddard Contracting (Private) Limited ("JRG") has agreed to accept a partial payment of US$77,765 in new ordinary shares of the Company in line with mutual release and settlement agreement announced on the 19 January 2026.

Accordingly, the Company has today settled payment of US$US$77,765 (equivalent to £60,753,62) in outstanding invoices through the issue of 303,768,117 new ordinary shares of the Company at the price of 0.02 pence per ordinary share, being closing bid price on Tuesday, 24 February 2026 ("Settlement Shares").

The Settlement Shares will, when issued, rank pari passu in all respects with the existing ordinary shares and any sales of the Settlement Shares will be handled by Premier's brokers

Admission

Application is being made for 303,768,117 Settlement Shares to be admitted to trading on AIM and admission is expected to take place on or around 3 March 2026.

Total Voting Rights

Following the issue of the New Shares, the Company's issued share capital consists of 14,211,319,467 Ordinary Shares, with voting rights.

Market Abuse Regulations

The person who arranged the release of this announcement on behalf of the Company was Graham Hill.

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