RHA Tungsten Update

Premier African Minerals Limited ("Premier" or the "Company") confirms that it has received correspondence confirming the approved transfer of the Zimbabwean Government shares in RHA Tungsten Private Limited ("RHA Tungsten") previously held by the Ministry of Industry and Commerce through the National Indigenisation and Economic Empowerment Fund to the Ministry of Mines and Mining Development, under the stewardship of the Zimbabwe Mining Development Corporation ("ZMDC").

Premier is handling the implementation of the share transfer process and is working with the relevant parties to initiate and oversee the legal, financial and administrative steps necessary to execute and finalise the transfer. The correspondence further confirms that His Excellency, the President Dr. E.D. Mnangagwa, approved the transfer and that the relevant parties have been instructed to immediately commence and oversee all steps required to give effect to the approved transfer.

The correspondence also directs ZMDC to urgently engage with Premier so that the parties can move forward without delay and exhaust all necessary avenues to address the outstanding operational, legal and capital matters required to support the reinstatement of commercial operations at RHA Tungsten.

Graham Hill, Managing Director, commented, "Premier has now received direct written confirmation of the approved share transfer in relation to RHA Tungsten to ZMDC. This removes a key area of uncertainty and provides a clearer basis for Premier to progress commercial discussions on the future of RHA Tungsten.

Given the current tungsten price environment and the level of initial interest we are seeing around a potential transaction, this clarification is timely. Premier remains committed to engaging constructively with ZMDC to assess and advance any transaction capable of delivering value for the Company and its shareholders through our holding in RHA Tungsten."

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.