25 March 2026

Premier African Minerals Limited

Operational Update Zulu Lithium

Premier African Minerals Limited ("Premier" or the "Company") is pleased to provide an interim update on the ongoing progress at the Zulu Lithium and Tantalum Project ("Zulu Lithium").

Graham Hill, Managing Director, commented: "We are very encouraged by the continued progress being made on site at Zulu Lithium. The installation of the Xinhai Flotation Plant is advancing well and, importantly, in line with our planned timeline. The level of coordination between our on-site team and the manufacturer's engineer has been particularly pleasing and gives the Board confidence as we move towards the commissioning phase.

It is also positive to see the increasing levels of operational readiness, including the mobilisation of the process engineering team and the availability of ore on the ROM pad to support early commissioning activities, utilising material already mined and at no additional mining cost to the Company.

We remain focused on delivering commissioning and optimisation during Q2 and moving the project towards steady-state production of spodumene concentrate.

We would also encourage shareholders to follow the Company's official account on X (formerly Twitter), where we are providing regular photographic updates of progress on site. These updates offer useful visual context to the significant work currently underway at Zulu Lithium and reflect the momentum being built".

Zulu Lithium Operational Update

Installation of the new flotation cells has been completed, with all units now aligned, levelled and connected. This critical phase was undertaken under the supervision of the manufacturer's installation engineer and is essential to ensure effective gravity-driven material flow through the flotation circuit. Following the delivery of materials for the fabrication of structural steel walkways and flotation launders, on-site fabrication by the Zulu Lithium team has progressed well. Installation of the launders is now underway, alongside the erection of supporting steel structures for safe plant access.

The new pumps for both product and tailings streams have been successfully installed on their respective plinths. In parallel, the piping team has mobilised to site and commenced installation of the pipework required to integrate the new flotation plant with existing infrastructure. The motor control switchgear is currently being assembled off-site and will undergo factory acceptance testing prior to delivery. Delivery to site remains on schedule and is expected within the next two weeks.

Operational readiness activities are advancing, including the development of a detailed commissioning plan and the mobilisation of the process engineering team. Discussions are also ongoing with a mining contractor to support appropriate mobilisation planning and ensure continuity of ore supply. The Company currently holds approximately 5,000 tonnes of ore on the ROM stockpile, which will be utilised during the initial commissioning phase, with additional ore to be supplied thereafter.

Commissioning and optimisation during Q 2 2026 remain the target, with the aim of achieving steady-state production of on-spec spodumene concentrate.

Market Abuse Regulations

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").

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, https://premierafricanminerals.com/.

Enquiries:

Nominated Adviser Statement

Beaumont Cornish Limited ("Beaumont Cornish"), which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in connection with this announcement and will not regard any other person as its client and will not be responsible to anyone else for providing the protections afforded to the clients of Beaumont Cornish or for providing advice in relation to such proposals. Beaumont Cornish has not authorised the contents of, or any part of, this document and no liability whatsoever is accepted by Beaumont Cornish for the accuracy of any information, or opinions contained in this document or for the omission of any information. Beaumont Cornish as nominated adviser to the Company owes certain responsibilities to the London Stock Exchange which are not owed to the Company, the Directors, Shareholders, or any other person.

Forward Looking Statements

Certain statements in this announcement are or may be deemed to be forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'' ''could'' "should" ''envisage'' ''estimate'' ''intend'' ''may'' ''plan'' ''will'' or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth results of operations performance future capital and other expenditures (including the amount. Nature and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The Company cannot assure investors that actual results will be consistent with such forward-looking statements. 

Notes to Editors:

Premier African Minerals Limited (AIM: PREM) is a multi-commodity mining and natural resource development company focused on Southern Africa with its RHA Tungsten and Zulu Lithium projects in Zimbabwe.

The Company has a diverse portfolio of projects, which include tungsten, rare earth elements, lithium and tantalum in Zimbabwe encompassing brownfield projects with near-term production potential to grass-roots exploration.

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