Issue of Equity

Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining 18 October 2013 Premier African Minerals Limited (`Premier' or `the Company') Issue of Equity Premier African Minerals Limited, the AIM quoted multi-commodity naturalresource company with mineral projects located in Western and Southern Africa,announces that the final share payment consideration, as set out in theCompany's admission document dated 4 December 2012 in respect of the exerciseof the Zulu option, has been settled. The consideration is US$1.5m (£978k) tobe satisfied by the issue of 48,877,500 new ordinary shares of no par value atan issue price of 2 pence per share to Alpha International Business Limited("Alpha"). In addition, the Company has also issued 2,010,050 new ordinaryshares of no par value to a consultant. In aggregate therefore the Company hasissued 50,887,550 new ordinary shares of no par value (`New Shares'). The New Shares will rank pari passu in all respects with the existing ordinaryshares. Application will be made for the New Shares to be admitted to tradingon AIM and admission is expected to take place on 25 October 2013. Following the issue of the New Shares, the Company's issued share capitalconsists of 386,455,141 ordinary shares, with voting rights. This figure may beused by shareholders in the Company as the denominator for the calculation bywhich they will determine if they are required to notify their interest in, ora change to their interest in, the share capital of the Company under theFinancial Conduct Authority's Disclosure and Transparency Rules. Alpha will hold approximately 12.6% of the issued share capital of the Company.The New Shares issued to Alpha are subject to a lock-in agreement until 4December 2013 and an orderly market agreement for a further 12 monthsthereafter. **ENDS** For further information please visit www.premierafricanminerals.com or contactthe following: Pamela Hueston Premier African Minerals Limited Tel: +44 (0) 755 778 3855 Michael Cornish / Beaumont Cornish Limited Tel: +44 (0) 207 628 3396Roland Cornish (Nominated Adviser) Jerry Keen Shore Capital Stockbrokers Limited Tel: +44 (0) 207 408 4090 Edward Mansfield Shore Capital Stockbrokers Limited Tel: +44 (0) 207 408 4090 Felicity Edwards St Brides Media & Finance Ltd Tel: +44 (0) 20 7236 1177 Notes Premier African Minerals Limited (AIM: PREM) is a multi-commodity explorationand development company focussed in Southern and West Africa. As well as its42% shareholding in TSX-Venture quoted AgriMinco (see www.agriminco.com), theCompany has a diverse portfolio of multi-commodity projects which includestungsten, rare earth elements (`REE'), gold, lithium, tantalum and uranium inZimbabwe and Togo, which span from brownfield projects with near-termproduction potential to grass-roots exploration. Alpha International Business Limited is a BVI company set up to act as nomineefor Mr R Dollar, pursuant to the terms of which Mr R Dollar and his family mayfall within the class of potential beneficiaries.