Agreed Extension of Project Due Diligence Period

Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining

For immediate release

15 July 2020

Premier African Minerals Limited

Agreed Extension of Project Due Diligence Period      

The Board of Premier African Minerals Limited ("Premier" or the "Company") is pleased to provide update on the conditional sale and purchase agreement to acquire a portfolio of hard-rock lithium assets located in Zimbabwe and Mozambique from Lithium Consolidated Ltd ("Li3") as announced 10 June 2020. 

The Company and Li3 have agreed to extend the due diligence period on the portfolio of hard-rock lithium until 24 July 2020 due to continuous interruptions as a result of Covid-19 issues in Zimbabwe.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. The person who arranged the release of this announcement on behalf of the Company was George Roach.

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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. The Company holds 5,010,333 shares in Circum Minerals Limited, the owners of the Danakil Potash Project in Ethiopia, which has the potential to be a world class asset. In addition, the Company holds a 19% interest in MN Holdings Limited, the owner and operator of the Otjozondu Manganese Mining Project in Namibia.

ENDS