17 April 2026

Premier African Minerals Limited

Issue of Equity

Premier African Minerals Limited ("Premier" or the "Company") announces that Canmax Technologies Co., Ltd ("Canmax") has elected to convert a further £187,296.16 (US$251,661.42) of accrued interest due under the Restated and Amended Offtake and Prepayment Agreement ("Agreement") into new ordinary shares in the Company at an issue price of 0.0126 pence per share, being the same price as the Company's last placing announced on 26 March 2026 (the "Issue Price"), in accordance with the terms of the Addendum to the Agreement as announced on 24 December 2024.

In addition, the Company has agreed to settle £53,877 of contractor invoices (the "Contractors"), at the Issue Price, in order to preserve cash resources while continuing to meet its operational obligations.

The Company has therefore issued today 1,486,477,442 new ordinary shares to Canmax (the "Canmax Shares") and 427,595,238 new ordinary shares to the Contractors (the "Contractor Shares"), being 1,914,072,680 new ordinary shares in aggregate (the "New Shares").

Admission

Application will be made for the New Shares to be admitted to trading on AIM and admission is expected to take place on or around 23 April 2026.  The New Shares will, when issued, rank pari passu in all respects with the existing ordinary shares. 

Total Voting Rights

Following the issue of the New Shares, the Company's issued share capital consists of 25,367,938,732 Ordinary Shares, with voting rights.

This figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

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, www.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.

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 and lithium encompassing brownfield projects with near-term production potential to grass-roots exploration.

Ends