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Premier African Minerals Ltd.

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Summary

Project:

RHA

Deposit:RHA
Location:Zimbabwe
Commodities:Tungsten
Date:9/15/2017
Report Code:SAMREC
Report Type:Resource Estimation
Project Stage:Mine Development
Report details:15-9-2017: Premier African Minerals Ltd. announces a Resource Estimation report for its RHA deposit at the RHA project. Update of the underground mineral resource. Premier African Minerals Limited (AIM: PREM), the London-quoted mining and exploration comp
Resources:(Resource, Total): 1.325Mt @ 4.72kg/t WO3 for 6.26kt W contained at the underground resource
CP/QP:[Resources]: Gerard Evans (Internal)
ABSTRACT:Premier African Minerals Limited (AIM: PREM), the London-quoted mining and exploration company, is pleased to report an upgrade and increase in the underground Mineral Resource Estimate at the RHA Tungsten (RHA) Mine in Zimbabwe. Premier owns 49% of RHA and is the operator. George Roach, Premier's CEO, commented: "This increase in tonnes and grade of the underground Mineral Resources at RHA provides both higher confidence in these Mineral Resources at RHA and supports our long-term confidence in the mine. At the same time, the recent substantial increase in the price of APT to $310-$325 per mtu has reduced the breakeven throughput tonnage required from underground ore at the predicted Resource grade to approximately 4,500 tonnes per month and increases potential profitability as and when plant optimisation completes and we are able to process at the higher throughput tonnages projected for later in Q4 this year. Most importantly the reduced breakeven point can also be achieved without any feed from open pit operations and supports our determined efforts over the past year to bring RHA into continuous production. We have commenced an independent review of the open pit Mineral Resources and we will report further when this review is completed. With ongoing curtailment in supply of wolframite from China, we believe that RHA can become one of the larger producers." The underground Mineral Resource Estimate ("MRE") update set out in Table 1 below is prepared in accordance with the SAMREC code and in compliance with Appendix 3 of the AIM Note for Mining and Oil & Gas Companies - June 2009). No cut-off grade has been applied to the Mineral Resources as this is not required when XRT based sorting is applied.

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