First Day of Dealings on AIM

Premier African Minerals Limited
Admission of Shares to AIM Market ("AIM"); First Day of Dealings
10 December 2012

 Premier African Minerals Limited / Index: AIM / TIDM: PREM / Sector: Natural  
                                   Resources                                   

                              ISIN: VGG7223M1005                               

10 December 2012

                       Premier African Minerals Limited                        

                         ("Premier" or "the Company")                          

       Admission of Shares to AIM Market ("AIM"); First Day of Dealings        

Premier African Minerals Limited, the multi-commodity natural resource asset
developer with mineral projects located in Western and Southern Africa, is
today being admitted to trading on AIM. The Company has raised £1.5 million
before expenses by way of a Placing of 75,000,000 new Ordinary Shares at 2
pence per Ordinary Share, bringing the total number of shares being admitted to
335,567,591. The Company has a market capitalisation of £6.7 million on
Admission.

The net funds raised will be used to assist in the funding of project
development activities, with an initial focus on continuing exploration work on
the Company's key projects of RHA, a former operating tungsten mine, and
Katete, a rare earth elements project, both located in Zimbabwe.

Premier is led by Chief Executive Officer George Roach, a founder and former
Managing Director (Africa) of UraMin Inc., Technical Director Bruce Cumming, an
exploration geologist with 26 years' experience at Falconbridge Limited, and
Finance Director Pamela Hueston. Shore Capital Stockbrokers Limited is Broker
to the Company and Cairn Financial Advisers LLP is the Company's Nominated
Adviser.

Overview

  * The Group is focused on acquiring assets with historical exploration and/or
    historical production, reduced geological risk and potential for rapid
    advancement such as the RHA Project in Zimbabwe;
   
  * The Group has acquired a wide range of commodities including tungsten,
    phosphates, lithium and tantalum, rare earth elements and clays that may be
    monetised in the near future;
   
  * Management focus is on value creation through cost effective acquisitions
    and judicious expenditure on focused exploration and development; and
   
  * The Group has a flexible approach to creating value which may include
    strategic joint ventures, disposals, development of projects to production
    by the Group itself or spin offs to new entities.
   
Unless otherwise defined herein, defined terms used in this announcement have
the meaning given to them in the Company's AIM Admission Document.

George Roach, Chief Executive Officer of Premier African Minerals Limited,
said:

"Premier African Minerals will not operate as a traditional junior exploration
company. We have worked since 2007 to establish a diversified portfolio of
mineral assets in in-demand commodities with potential to be fast-tracked into
viable economic mine operations. Utilising the Board's extensive experience in
acquiring secure tenure over well-priced resource projects across a number of
African jurisdictions and in the successful completion of strategic asset
disposals, Premier's business model focuses on transaction and liquidity events
that are geared to engineer substantial shareholder value. We have a strong and
diverse range of natural resource projects and a high-quality management team,
and intend to build on this momentum to establish Premier as a successful,
sustainable and attractive investment proposition. We look forward to
developing our portfolio and delivering on our stated business objectives."

For further information on the structure of the Company, please refer to the
Company's Admission Document, which can be found at
www.premierafricanminerals.com

Enquiries

Premier African Minerals Limited
Pamela Hueston, Finance Director
[phone]

Shore Capital Stockbrokers Limited
Broker
Jerry Keen/Ed Mansfield
[phone]

Cairn Financial Advisers LLP
Nominated Adviser
Tony Rawlinson
[phone]

Brand Mining
Financial PR
André Morrall/Iestyn Adams
[phone]





Ends