AgriMinco Danakil Option Update

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

For immediate release

11 April 2014

Premier African Minerals Limited

('Premier' or 'the Company')

AgriMinco Danakil Option Update

On 19 March 2014 Premier announced that it had entered into an option agreement with AgriMinco Corp (TSX VENTURE: ANO) ("AgriMinco"), pursuant to which AgriMinco had granted Premier the exclusive option to purchase AgriMinco's 30% interest in the Danakil Potash Project (the "Project"), Ethiopia (the "Option Agreement").

AgriMinco has announced that the TSX Venture Exchange has provided conditional acceptance to AgriMinco of the proposed transaction subject to AgriMinco independent shareholder approval of the transaction at a special meeting of AgriMinco's shareholders to be held on 8 May 2014 (the "AgriMinco Meeting"). Accordingly, the Company and AgriMinco have agreed to extend the exercise date of the Option Agreement to five days following the AgriMinco Meeting.

Notes

Premier African Minerals Limited (AIM: PREM) is a multi-commodity exploration and development company focused in Southern and West Africa. As well as its 42 per cent. shareholding in TSX-Venture quoted AgriMinco (see www.agriminco.com), the Company has a diverse portfolio of multi-commodity projects which includes tungsten, rare earth elements, gold, lithium, tantalum and uranium in Zimbabwe and Togo, which span from brownfield projects with near-term production potential to grass-roots exploration.