Premier African Minerals says spodumene flotation plant due on site

Zulu Lithium New Flotation Plant – update on delivery and installation date

Comment on recent announcement on lithium exports in Zimbabwe

Premier African Minerals Limited is pleased to provide the following corporate update in respect of the Zulu Lithium and Tantalum Project (“Zulu”).

Graham Hill, Managing Director, commented, “I am extremely pleased to report that following a short delay from the timetable previously announced and after several weeks of planning and mobilisation we now expect the new spodumene flotation plant to arrive on site on Tuesday, 3 March. The specialist installation engineer from the manufacturer is expected to arrive on site on today. The Zulu team stands ready to begin assembly of the plant, as soon as it arrives, on the foundations already constructed with commissioning and optimisation alongside other specialists from the manufacturer scheduled for Q2 2026.

In the meantime, and in response to certain recent announcements by the Ministry of Mines and Mining Development (“Ministry”) regarding the suspension of lithium concentrate and raw mineral exports with immediate effect, we are maintaining dialogue with the Ministry and remain aligned with Zimbabwe’s beneficiation objectives, having previously presented our value addition roadmap for Zulu. This suspension is understood to target specific issues, and we do not consider that it will create and problems for future production from Zulu.”

Flotation Plant Delivery and Installation

Further to the announcement on 11 February 2026 concerning the procurement, installation and commissioning contract for the 15-20 tonnes per hour spodumene flotation circuit, the Company is now expecting that the complete flotation plant is expected to be delivered at Zulu on or around Tuesday, 3 March 2026. An installation engineer from Xinhai Technology Processing is scheduled to arrive at Zulu today. The Company will confirm when the plant has arrived and notwithstanding that will update Shareholders at the Annual General Meeting this coming Wednesday. This spodumene flotation circuit will replace the previous spodumene flotation circuit with the balance of the processing plant, ahead of the spodumene flotation circuit being retained.

Additional materials for construction of access walkways, electrical cables, etc. is being separately purchased by Zulu as part of the plan and will be delivered during the course of the assembly of the new plant. The Company continues to target commissioning of the new flotation circuit during Q2 2026.

Zimbabwe Lithium Export Suspension

The Company notes the recent announcement by the Ministry regarding the suspension of lithium concentrate and raw mineral exports with immediate effect.

Premier confirms that it is fully aware of the recent regulatory development and remains in open dialogue with the Ministry in respect of the suspension and the framework for future product shipments from Zulu following commissioning of the flotation plant.

The Company further confirms that during 2024 it formally engaged with the Ministry and presented its proposed beneficiation and value addition strategy for Zulu. That engagement included outlining the Company’s longer-term processing and optimisation plans designed to enhance in-country value addition and the Company will continue to engage with the Ministry to ensure alignment between Zulu’s operational roadmap and Zimbabwe’s evolving beneficiation policy framework.

The Board does not currently envisage, on the basis that their understanding is that the ban is targeted at specific issues, that the recent suspension will impede Zulu’s future commercial production strategy as the Company progresses installation and commissioning of the flotation plant. However, it will give an update on this matter as and when the situation is clarified.

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.

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