Operational Update

5 November 2026

Premier African Minerals Limited

Operational Update

Premier African Minerals Limited ("Premier" or the "Company") provides a further update on progress towards the recommencement of operations at the Zulu Lithium and Tantalum Project ("Zulu") in Zimbabwe.

Graham Hill, Managing Director, commented: "We had originally anticipated recommencing operations during October. Whilst the final stages of preparation have taken longer than expected, we are now targeting the recommencement of processing activities during the week commencing 16 November 2026.

As outlined in our October announcement, the Board elected to move away from the original strategy of building a larger run-of-mine ("ROM") stockpile before recommencing processing, instead prioritising an initial operating campaign using the material already available at Zulu. We believe this revised approach represents the most effective use of our available resources and provides an opportunity to demonstrate stable and consistent plant performance, satisfactory recoveries and the production of spodumene concentrate of the required quality. The campaign will also generate valuable operational data to inform the next phase of operations. Experience gained during previous campaigns has significantly improved our understanding of the plant's requirements and the measures needed to achieve greater reliability and consistency.

I am pleased to confirm that the principal engineering works and process modifications required ahead of the restart are substantially complete. A new hydrocyclone is being installed, and all critical engineering materials, spare parts, lubricants, fuel and other essential consumables are either on site or scheduled for imminent delivery. We therefore do not anticipate any further delays to the targeted restart arising from the availability of equipment, materials or consumables, or from the remaining engineering preparations.

In parallel, we continue to address certain labour-related challenges in Zimbabwe, particularly the workforce arrangements necessary to support the recommencement of operations. Whilst these matters have presented some practical constraints, our senior management and supervisors have made considerable progress, ensuring that the critical engineering works and operational preparations have continued to advance. We remain constructively engaged with the relevant parties and are optimistic that the necessary arrangements will be finalised shortly.

With the engineering preparations substantially complete and the remaining workforce arrangements progressing, we remain confident that recommencement of processing activities during the week commencing 16 November 2026 is achievable.

Our immediate priority is to complete the final preparations and recommence processing in a controlled and sustainable manner. We look forward to demonstrating the improvements made at Zulu through the forthcoming operating campaign and will provide further updates as appropriate."

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.

Distribution

This announcement has been notified via a Regulatory Information Service, and it is not authorised for distribution into North America or any other jurisdiction where to do so would constitute a violation of the relevant laws or regulations of that jurisdiction.

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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