Corporate Update

Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining 

14 November 2013

         Premier African Minerals Limited (`Premier' or `the Company')         

                               Corporate Update                                

Premier African Minerals Limited, the AIM traded multi-commodity natural
resource company with mineral projects located in Western and Southern Africa,
announces that the terms of the additional funding to be provided by the
Company's Chairman and CEO George Roach have been finalised. As previously
announced, George Roach has increased his working capital facility to the
Company from £300,000 to not less than £600,000 on substantially the same
terms. The conversion price for any additional drawings under the increased
facility, which George Roach subsequently elects to convert into new ordinary
shares, will be set by reference to the then most recent fundraising. The
Company has drawn down £200,000 of the additional funds to fund the costs of
the additional exploration activity currently being undertaken at Premier's
flagship RHA Tungsten Project in Zimbabwe, including further selected in-fill
drilling and metallurgical test work, together with providing additional
general working capital.

Premier is actively engaged in discussions with potential off-take partners and
funders with the objective of securing the necessary funding for the
development of the RHA Tungsten mine by the end of 2014. The Company will
provide a further update on progress in due course.

The increase in the working capital facility is a related party transaction for
the purposes of the AIM Rules. The Board of Premier, other than George Roach,
comprising the Independent Directors, consider, having consulted with the
Company's nominated adviser, that the terms of the increased facility are fair
and reasonable insofar as all shareholders are concerned.

                                   **ENDS**                                    

For further information please visit www.premierafricanminerals.com or contact
the following:

Pamela Hueston    Premier African Minerals Limited  Tel: [phone]  
                                                                               
Michael Cornish / Beaumont Cornish Limited          Tel: [phone]  
Roland Cornish    (Nominated Adviser)                                          
                                                                               
Jerry Keen        Shore Capital Stockbrokers        Tel: [phone]  
                  Limited                                                      
                                                                               
Edward Mansfield  Shore Capital Stockbrokers        Tel: [phone]  
                  Limited                                                      
                                                                               
Felicity Edwards  St Brides Media & Finance Ltd     Tel: [phone]  
                                                                               
Charlotte Heap    St Brides Media & Finance Ltd     Tel: [phone]  

Notes

Premier African Minerals Limited (AIM: PREM) is a multi-commodity exploration
and development company focussed in Southern and West Africa. As well as its
42% shareholding in TSX-Venture quoted AgriMinco (see www.agriminco.com), the
Company has a diverse portfolio of multi-commodity projects which includes
tungsten, rare earth elements (`REE'), gold, lithium, tantalum and uranium in
Zimbabwe and Togo, which span from brownfield projects with near-term
production potential to grass-roots exploration.