Issue of Equity

25 February 2026

Premier African Minerals Limited

Issue of Equity

Premier African Minerals Limited ("Premier" or the "Company") is pleased to announce that J R Goddard Contracting (Private) Limited ("JRG") has agreed to accept a partial payment of US$77,765 in new ordinary shares of the Company in line with mutual release and settlement agreement announced on the 19 January 2026.

Accordingly, the Company has today settled payment of US$US$77,765 (equivalent to £60,753,62) in outstanding invoices through the issue of 303,768,117 new ordinary shares of the Company at the price of 0.02 pence per ordinary share, being closing bid price on Tuesday, 24 February 2026 ("Settlement Shares").

The Settlement Shares will, when issued, rank pari passu in all respects with the existing ordinary shares and any sales of the Settlement Shares will be handled by Premier's brokers

Admission

Application is being made for 303,768,117 Settlement Shares to be admitted to trading on AIM and admission is expected to take place on or around 3 March 2026.

Total Voting Rights

Following the issue of the New Shares, the Company's issued share capital consists of 14,211,319,467 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, encompassing brownfield projects with near-term production potential to grass-roots exploration.

Ends