AFRICA’S

NEXT LITHIUM
DEVELOPER
Africa’s Next Lithium
Developer
MARCH 2021
June 2021

The information contained in this document has been prepared based upon
information supplied by Premier African Minerals Limited “the Company”. This
Document does not constitute an offer or invitation to any person to
subscribe for or apply for any securities in the Company.
While the information contained in this Document has been prepared in good
faith, neither the Company nor any of its shareholders, directors, officers,
agents, employees or advisers give any representations or warranties (express
or implied) as to the accuracy, reliability or completeness of the information in
this Document, or of any other written or oral information made or to be
made available to any interested party or its advisers (all such information
being referred to as “Information” and liability therefore is expressly
disclaimed.
Accordingly, to the full extent permitted by law, neither the Company nor any
of its shareholders, directors, officers, agents, employees or advisers take any
responsibility for, or will accept any liability whether direct or indirect, express
or implied, contractual, tortious, statutory or otherwise, in respect of, the
accuracy or completeness of the Information or for any of the opinions
contained in this Document or for any errors, omissions or misstatements or for
any loss, howsoever arising, from the use of this Document. Neither the issue of
this Document nor any part of its contents is to be taken as any form of
commitment on the part of the Company to proceed with any transaction
and the right is reserved to terminate any discussions or negotiations with any
person. under no circumstances will the Company be responsible for any
costs, losses or expenses incurred in connection with any appraisal or
investigation of the Company. In furnishing this Document, the Company
does not undertake or agree to any obligation to provide the recipient with
access to any additional information or to update this Document or to
correct any inaccuracies in, or omissions from, this Document which may
become apparent.
June 2021 PREMIER AFRICAN MINERALS | AIM : PREM
PREMIER AFRICAN MINERAL S
Disclaimer
This Document should not be considered as the giving of investment advice
by the Company or any of its shareholders, directors, officers, agents,
employees or advisers. Each party to whom this Document is made available
must make its own independent assessment of the Company after making
such investigations and taking such advice as may be deemed necessary. In
particular, any estimates or projections or opinions contained in this
Document necessarily involve significant elements of subjective judgment,
analysis and assumptions and each recipient should satisfy itself in relation to
such matters.
This Document may include certain statements that may be deemed
forward-looking statements. All statements in this discussion, other than
statements of historical facts, that address future activities and events or
developments that the Company expects, are forward-looking statements.
Although the Company believes the expectations expressed in such forward-
looking statements are based on reasonable assumptions, such statements
are not guarantees of future performance and actual results or
developments may differ materially from those in the forward-looking
statements. The Company, its shareholders, directors, officers, agents,
employees or advisers, do not represent, warrant or guarantee, expressly or
impliedly, that the information in this Document is complete or accurate. To
the maximum extent permitted by law, the Company disclaims any
responsibility to inform any recipient of this Document of any matter that
subsequently comes to its notice which may affect any of the information
contained in this Document. Factors that could cause actual results to differ
materially from those in forward-looking statements include market prices,
continued availability of capital and financing, and general economic,
market or business conditions. Investors are cautioned that any forward-
looking statements are not guarantees of future performance and that actual
results or developments may differ materially from those projected in forward-
looking statements.
2
 COMPANY

Overview

PROFILE STRATEGY KEY PROJECTS VALUE

AIM-listed mining and Expanding the Large Zulu Lithium (205km² license
exploration company Resource base at Zulu
Lithium and Deliver a
Developing lithium, tungsten Feasibility Study
and industrial minerals
Bringing RHA into
Experienced management commercial production
team
Board with track record of Diversify into cash
successful mineral generative assets
developments
Expand Board and
Technical skill base
Scoping Study demonstrates
Area) a robust project with
attractive economics Zulu
RHA Tungsten Project Lithium & Tantalum
Emerging Tungsten Miner
RHA Tungsten Project
A US$6.25 million
shareholding in Circum
Minerals Limited, a private
potash developer
A 19% interest in the
producing Otjozondu
Manganese Mine

June 2021 PREMIER AFRICAN MINERALS | AIM : PREM 3

 COMPANY

Share Capital
DAILY SHARE PRICE AND LIQUIDITY SINCE JAN 2020

52 WEEK SHARE PRICE

0.400 0.02- 0.49 pence

AIM Closing Price (pence)

0.300
MAJOR SHAREHOLDERS
0.200 James Goezee – 7.1%
George Roach -7.0%
0.100

0.000 AVERAGE DAILY

Jan-20 Mar-20 May-20 Aug-20 Oct-20 Dec-20 Mar-21 TRADING VOLUMES

Capital Structure as of 19 March 2021

Share Price 0.23 pence 2020 Q4 171,986,769

2020 Q3 87,692,251
2020 Q2 161,137,077
Shares Outstanding 17,793,009,831
2020 Q1 165,418,794

Market Capitalisation £40.9 million

June 2021 PREMIER AFRICAN MINERALS | AIM : PREM 4

 COMPANY
Board of Directors
Highly experienced Board with extensive experience in exploration, development and mining

George Roach Extensive experience in natural resource business development in Africa. He has held positions
CEO in and/or initiated a number of start-up businesses listed on AIM and/or TSX-V.

Trained with PwC and has been involved in growing mining ventures, both as an executive
(including Antofagasta plc, Brancote Holdings plc and UraMin Inc.) and as a manager of
Neil Herbert investments (including Galahad Gold plc and Polo Resources Limited). Mr. Herbert has served
Chairman as a director of companies on the AIM, ASX, LSE, JSE and TSX and was previously a director of
Premier between 20 August 2013 and 22 April 2016.

Mr Hampel has 27 years' experience in the African, American, European and Asian exploration
Wolfgang Hampel and mining industry and holds a Diploma in Economic Geology (Dipl.-Geol.) from the
Non-Executive Director Technical University of Munich. He is a registered European Geologist (EurGeol), n° 1261, with
the European Federation of Geologists.

Zimbabwean national with extensive experience in business. Mr Manhambara is currently Chief

Executive of Beta Holdings, the largest Brick and tile manufacturer in Zimbabwe. Mr
Godfrey Manhambara Manhambara was formerly Chief Executive of Affretair, an international cargo commercial
Non-Executive Director airline that operated out of Harare. In 1999, Mr Manhambara was appointed as Chief
Executive Officer of the Civil Aviation Authority in Zimbabwe a position he held until 2001.

June 2021 PREMIER AFRICAN MINERALS | AIM : PREM 5

 EXPLORA TION PROJECTS
Southern African Assets

Tinde Project
Fluorite & Barite

Katete Project
Rare Earths

RHA Project
Tungsten

Zulu Project
Lithium & Tantalum

June 2021 PREMIER AFRICAN MINERALS | AIM : PREM 6

 EXPLORA TION PROJECTS

In Southern Africa
Project & Mineral Geology Status Update / Potential

ZULU PROJECT

Lithium & Tantalum Two pegmatite zones totaling 3.5km in length
with lithium oxide (Li₂O) grades up to 4.24%,
tantalum oxide (Ta₂O₅) to 1,037 ppm; newly
discovered step-out zones add another
+2.5km strike length.
DFS commenced May 2021 with appointment
of engineering practice and construction of
exploration camp. Resource expansion and
definition drilling commencing late June.
Expanded exploration into the 205km² EPO
region commenced and further resource
expansion anticipated.

TINDE PROJECT

Fluorite & Barite Numerous, up to 3m wide, hydrothermal Potential for bulk, open pit mining.
fluorite veins in granites and gneisses. Small
scale industrial mining took place until the
1970s.

KATETE PROJECT

Rare Earths A large carbonatite, 37.5km² in size, with light Best total rare earth oxides (TREO) surface grab
rare earth, neodymium rich mineralisation in sample analysis of 14.6%, with up to TREO of 3%
both outcrop and cores. in drill cores.

June 2021 PREMIER AFRICAN MINERALS | AIM : PREM 7

 EXPLORA TION PROJECTS

Zulu Lithium Project

 EPO (Exclusive Prospecting Order) for larger
tenement over the Zulu project was granted on 12
March 2021
 EPO covers 205km² surrounding the Zulu Lithium and
tantalum project
 Zulu Lithium and Tantalum project lies in a highly
mineralised pegmatite belt located 80km east of
Bulawayo
 Maiden Mineral Resource Estimate of 20.1 million
tonnes of 1.06% Li₂O and 51 ppm Ta₂O₅ using a cut-
off grade of 0.5% Li₂O and 7 million tonnes at 1.50%
Li₂O using a cut-off grade of 1.1% Li₂O
 Metallurgical testwork on spodumene pegmatite
achieved a lithium recovery of 81.8%
 Initial Exploration Target of 60-80 million tonnes in
Main Zone and on-going drill intersections in the New
Zone indicating the potential to add substantial new
tonnes to the Resource base
 Scoping Study demonstrated a robust project with
attractive economics for both the Concentrate Sales
option US$127.3M NPV10 and 85.9% IRR and Lithium
Carbonate Plant option US$718.9m NPV10 and 80.4%
IRR
Premier is now commencing a feasibility study on the
project.
June 2021 PREMIER AFRICAN MINERALS | AIM : PREM 8
 EXPLORA TION PROJECTS

Zulu Lithium

June 2021 PREMIER AFRICAN MINERALS | AIM : PREM 9

 ZULU LITHIUM PROJECT

Mineral Resource Estimate

 Maiden Mineral Resource Estimate of 20.1 Tonnes Grade Li₂0 Contained Li₂0
Category
million tonnes of 1.06% Li₂O and 51 ppm Ta₂O₅ (millions) % in tonnes
using a cut-off grade of 0.5% Li₂O
Measured - - -
 Containing 526,000 tonnes of Lithium
Carbonate Equivalent (“LCE”) and 1,025 Indicated - - -
tonnes of Tantalum Pentoxide
Inferred 20,112,736 1.06 213,195
 Maiden Resource Estimate covers only 35% of Total 20,112,736 1.06 213,195
original Zulu claim’s known 3.5km surface strike
length and drilling continues to upgrade and Drill cores containing lithium mineralisation
expand the Mineral Resource Estimate
Notes:
 Deposit remains open at depth and along 1. Premier is the operator of the Zulu Lithium and Tantalum Project
strike (“Zulu”).
2. Premier currently holds 100% interest in Zulu.
3. Mineral Resources which are not Mineral Reserves have no
 Initial Exploration Target of 60-80 million tonnes demonstrated economic viability.
4. The effective date of the Mineral Resource is 01 June 2017.
5. Mineral Resources for Zulu have been calculated using a cut-
off of 0.5% Li₂0 and classified according to SAMREC.
6. The Mineral Resource Estimate is based on information
compiled by the Company and reviewed by Mr Wolfgang
Hampel (as described further below).

June 2021 PREMIER AFRICAN MINERALS | AIM : PREM 10

 ZULU LITHIUM PROJECT

Metallurgical Testwork
 Metallurgical testwork was conducted by German
based Dorfner Anzaplan

 Flotation testwork on spodumene pegmatite achieved

a lithium recovery of 81.8%

 Flotation testwork on mixed pegmatite sample

achieved a spodumene concentrate containing 5.9%
Li₂0 being acceptable for spodumene concentrates as
feed stock for lithium carbonate production and a
commercial grade petalite concentrate containing
3.9% Li₂0 at exceptionally low Fe₂0₃ content of < 0.01%
at a recovery in the concentrates of an estimated 70%

 The tailings of spodumene and petalite flotation

process contain very low iron oxide concentrations in
the range of 0.01%, offering the potential for high
quality, low iron feldspar and quartz as by-product for
glass and ceramics applications From left to right:
lepidolite spodumene pegmatite @ 0.94% Li2O and 42 ppm Ta2O5
 Further metallurgical testwork is planned including
testwork on the recoveries of lithium bearing minerals, spodumene (pink) pegmatite @ 2.09% Li2O and 106 ppm Ta2O5
the recovery of saleable tantalite concentrates and petalite pegmatite @ 2.39% Li2O and 46 ppm Ta2O5
high purity, low iron oxide quartz and feldspar holmquistite gneiss / amphibolite and pyrite @ 0.55 % Li2O
concentrates as well as optimise the flowsheet design

June 2021 PREMIER AFRICAN MINERALS | AIM : PREM 11

 ZULU LITHIUM PROJECT

Proposed Flowsheet Design

June 2021 PREMIER AFRICAN MINERALS | AIM : PREM 12

 ZULU LITHIUM

Scoping Study
A robust project with compelling economics
Concentrate Sales Option Lithium Carbonate Plant

Mine life 15 years Project life 15 years

84,000 tonnes of spodumene Target Annual Production 14,500 tonnes of Li₂CO₃

Target Annual Production concentrate and 32,500 tonnes
of petalite concentrate
Pre-Tax NPV10 US$719 million
Pre-Tax NPV10 US$127 million
Pre-Tax IRR 80%
Pre-Tax IRR 86%
Gross Revenues US$2.9 billion*
Gross revenue US$1 billion*

Capital Costs Initial Capital Cost

US$64 million US$238 million
(including 30% contingency)
(including 30%
Contingency) C1 Operating Costs US$1.1 billion
C1 Operating Cost US$486 million
Peak Funding Requirement US$178 million
Peak Funding Requirement US$38 million
Payback 2 years
Payback 2 years
After-Tax NPV at 10% US$524 million
After-Tax NPV at 10% US$92 million

After-Tax IRR 65% After-Tax nominal IRR 63%

* based on sales prices of US$800/t spodumene concentrate and US$400/t petalite
concentrate over life of mine * based on a sales price of US$15,000/t Lithium Carbonate

June 2021 PREMIER AFRICAN MINERALS | AIM : PREM 13

 ZULU LITHIUM

Drill Hole ZDD-45

 Intersected 40.58m containing an average
grade of 1.56% Li₂O in multiple intersections

 Including 0.95m at 4.24% Li₂O

 ZDD-45 drilled 220m south-east of the Main

Zone demonstrate the potential for an
additional 60-80m tonnes in this Step-out Zone

 An infill drilling programme is planned to

expand the current mineral resource base

June 2021 PREMIER AFRICAN MINERALS | AIM : PREM 14

 ZULU LITHIUM

valuation
MarketCap/Resources
$800.00

$600.00

$400.00

$200.00

$63.90

$70.08 $81.11 $185.26 $192.18 $245.28 $295.19 $465.40 $504.34 $695.00

$0.00
Firefinch - Premier - Zulu Prospect Critical AVZ - Premier - Zulu Liontown - Sayona - Core Lithium - Pilbara
Bougouni potential Resources - Elements - Manono (US$52m) Kathleen Authier Finess Minerals -
(US$32m) 70Mt 1.06% Arcadia - Rose 31.04Mt (US$457m) ($645m) (US$94m) (US$95m) Pilangoora
(US$46m) 1.04% (US$2.950m)

June 2021 PREMIER AFRICAN MINERALS | AIM : PREM 15

 PREMIER AFRICAN MINERAL S

Investment Highlights
 Delineated a 20.1 million tonnes at 1.06% Li₂O
Maiden Mineral Resource Estimate at Zulu –
resource on only 1/3 of the strike length
 Metallurgical testwork achieves commercial
grade concentrate and recovery of 81.8% on
spodumene at 6.5% Li₂0
 Zulu - Scoping Study demonstrates a robust
project with attractive economics
 EPO award is a step change for the project
 Shareholding in Circum valued at US$6.25m
 Significant minority interest (19%) in the operating
Otjozondu Manganese mines
 Diversified natural resources company with a
portfolio of significantly undervalued projects
 Experienced board and management team with
a proven track record of successful
development of mineral projects on the African
continent

June 2021 PREMIER AFRICAN MINERALS | AIM : PREM 16

 COMMODITY

Lithium Raw Materials

 Lithium raw materials are the vital ingredient for

lithium battery technology

 Lithium is sourced predominantly from:

 Hard-rock mining of spodumene deposits

 Extracting lithium from brine deposits

 Zimbabwe is historically the world’s 5th largest

producer of lithium mineral concentrate Spodumene Concentrate Production

 The Zulu deposit is among Zimbabwe’s largest

lithium-tantalum projects with Inferred
Resources of 20.1 Mt at 1.06% Li₂0 and 51 ppm
Ta₂0₅ containing 526,000 tonnes of Lithium
Carbonate Equivalent (“LCE”) and 1,025
tonnes of Tantalum Pentoxide

 Spodumene and petalite ore is processed into

a concentrate and then converted into lithium
carbonate or lithium hydroxide to be utilised in
lithium battery components Battery Tesla Model S

June 2021 PREMIER AFRICAN MINERALS | AIM : PREM 17

 COMMODITY

Lithium Market
Lithium Supply / Demand Balance

Source: UBSe A sunny day in Shanghai

 Pollution has driven Government policies towards

 Decarbonisation and “Net Zero” emission policies
“New Energy”
have significantly accelerated demand for lithium
 Lithium carbonate pricing took-off
 Despite supply side increases, the incremental
coincidentally with acceleration in EV’s and
increase in demand will see a deficit forming in 2024 –
Electric Bus sales
based on base case projects
 Broad transportation electrification Projects
 Significant lack of new commercial projects in the
pipeline to meet expected demand  99 million electrical vehicles sold pa by 2020

 By 2050, 81% of global car sales will be electric*

* Source Reuters, Morgan Stanley,

June 2021 PREMIER AFRICAN MINERALS | AIM : PREM 18

Contact Information

For additional information or enquiries,

please contact:

George Roach - CEO

info@premierafricanminerals.com
www.premierafricanminerals.com

June 2021 PREMIER AFRICAN MINERALS | AIM : PREM 19