21 July 2025

Premier African Minerals Limited 

Issue of Equity and Corporate Update
 

Premier African Minerals Limited ("Premier" or the "Company") announces that the Company has today issued 1,666,666,667 new ordinary shares at an issue price of 0.012 pence per share in settlement of accrued but unpaid interest amounting to £200,000 due on the 2023 loan advance made by George Roach to the Company ("Settlement Shares"). The Settlement Shares will rank pari passu in all respects with the existing ordinary shares. Application will be made for the Settlement Shares to be admitted to trading on AIM and admission is expected to take place on or around 28 July 2025. The issue price of the Settlement Shares has been set at the same issue price as the last market-based subscription announced on 11 June 2025.

Following the issue of the Settlement Shares, which represent 2.1% of the current issued share capital, George Roach will be interested in aggregate in 2,913,180,874 Shares, representing 3.8% of the issued share capital. There have been no other issue of Shares or rights over Shares to George Roach in the prior 12-month period.

As set out in the published audited accounts for the year ended 31 December 2024, the advance made by George Roach to the Company in 2023 ("Loan"), which had a first repayment due from January 2024 ("Repayment Date") is still outstanding and due on demand. In accordance with the terms of the Loan (as previously amended), interest was waived unless there was an event of default and accordingly accrued interest is due which, as at 30 June 2025, amounted to £207,741.77. George Roach has agreed not to seek any repayment of the Loan until the earlier of either 21 June 2026, or an agreement from a reputable buyer acceptable to Canmax Technologies Co., Ltd ("Canmax") that they will settle and/or manage the outstanding prepayment amount plus interest owed to Canmax ("Extension"). This Extension is conditional on there being no further default under the Loan.

Total Voting Rights

Following the issue of the Settlement Shares, the Company's issued share capital consists of 77,674,775,980 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 Regulation

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. The person who arranged the release of this announcement on behalf of the Company was Godfrey Manhambara.

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

Enquiries:

Beaumont Cornish Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in relation to the matters referred herein. Beaumont Cornish Limited is acting exclusively for the Company and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of Beaumont Cornish Limited, or for providing advice in relation to the contents of this announcement or any matter referred to in it.

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

 
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