Prem Premier African Minerals Limited reported a new SAMREC compliant Mineral Resource Estimate on its wholly owned Zulu Lithium and Tantalum Project ("Zulu"). The previous Mineral Resource Estimate issued on 6 June 2017 is simultaneously withdrawn. Highlights: This MRE is concerned with those areas of the Zulu tenements that are expected to be mined and processed through the present plant only and excludes the greater EPO area.

This MRE estimates Li2O that is contained in spodumene, specifically Li2O that is attributable to spodumene at 107,366 tonnes and the direct conversion of the contained Li2O to spodumene concentrate 6 (SC6) is 1,789,433 tonnes. This MRE estimates that the ore body contains 1,045,908 kg of Ta2O5. On-going Mineral Resource development drilling, with the aim of identifying extensions to the current MRE and thereto having the potential to add additional Mineral Resources, is ongoing.

Test work also indicated that all of the spodumene will be recovered and therefore a zero cut-off Li2O grade has been applied for the Mineral Resource statement. A zero cut off is considered applicable to this project as the Mineral Resource reflects the recovery of mineral (spodumene), as opposed to a metal. A further 5% geological loss has been applied for the Indicated category and 10% for the Inferred category.

Mineral Resource Classification: Extensive close-spaced drilling allows that 60% of this MRE falls within the Indicated category. A combination of results from mining activities and further in-fill drilling is likely to see an increase in the Indicated category. Similarly, it is anticipated that the Mineral Resource classification will likely change to a Reserve classification with ongoing mining activity and grade control sampling, providing real time confirmation of the validity of the modifying factors that may be applied to the Mineral Reserve.

Mining and Metallurgy: The Company has developed Zulu as an open pit mine. Plant and process design was based on metallurgical test work conducted by German based Dorfner-Anzaplan in 2016 and 2022 and is supported by extensive additional test work undertaken by Geolabs in South Africa and the laboratory established at Zulu in 2023.