Premier African Minerals Limited Board Changes (3428K)

TIDMPREM

RNS Number : 3428K

Premier African Minerals Limited

10 April 2018

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

For immediate release

10 April 2018

Premier African Minerals Limited

Board Changes

Premier African Minerals Limited ("Premier" or the "Company") announces that Mr John Stalker ("Mr Stalker") has today resigned as a director of the Company and simultaneously Mr Wolfgang Hampel ("Mr Hampel") has been appointed as a director of the Company with immediate effect.

George Roach, CEO and Chairman commented: "Mr Stalker has made a valuable contribution to the development of the Company over several years. On behalf of the Company and the Board, I would like to express my appreciation and wish him well in future endeavours, and his goal of reducing his current work load.

At the same time, I welcome Mr Hampel to the Board. Mr Hampel is a widely experienced seasoned geologist and has overseen Premier's exploration projects in Zimbabwe since 2014. His knowledge and experience in pegmatite ore bodies and rare earth elements is significant as we look to progress Zulu Lithium to definitive feasibility study and with re-emerging interest in rare earth elements (REEs), revitalise our exploration of the Katete rare earth carbonatite complex."

Appointment of Mr Hampel

The Company has today appointed Mr Hampel as a director. Mr Hampel is a seasoned geologist with 27 years of experience in lithium, rare earth elements and as well precious and base metals. Before joining Premier, between 2008 and 2012 Mr Hampel was Chief Operating Officer and consulting geologist for Tantalus Rare Earths AG which discovered a rare earth ionic clay deposit on the Ampasindava Peninsula in Northern Madagascar. Between 2006 and 2008, Mr Hampel was Head of the Department for Mining Infrastructure and Mineral Exploration for Fugro Consult GmbH, a leading geological and earth sciences consultancy and previously, Mr Hampel worked for the Federal Institute for Geosciences and Natural Resources, the central geoscientific authority providing advice to the German Federal Government on geoscience related matters. In the 1990s, Mr Hampel was involved in the discovery and development of several gold deposits and major gold anomalies in West Africa.

Mr Hampel has a degree in Geology, Economic Geology and Petrology from the Technical University of Munich, Germany and is a member of the European Federation of Geologists (ndeg 1261) and the German Professional Association of Geoscientists. He is a Qualified Person for the purposes of the AIM Rules and NI43-101, JORC, the Pan-European Reserves and Resources Reporting Committee (PERC) and the South African Institute of Mining and Metallurgy (SAIMM).

Further AIM Disclosures

Further disclosures on Mr Hampel as required under Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies are as follows:

Mr Wolfgang Hampel, aged 54, has held the following directorships and/or partnerships in the past five years:

 
 Current:   Past: 
---------  ------ 
 n.a.       n.a. 
---------  ------ 
 

Mr Hampel will be an executive director. Mr Hampel currently holds options to subscribe up to 8,000,000 ordinary shares of no par value in the Company on the terms set out below:

 
 Number of shares     Exercise Price   Expiry Date 
  covered by option 
-------------------  ---------------  ---------------- 
 2,500,000            1.5p             28 July 2024 
 2,750,000            0.28p            14 January 2027 
 2,750,000            0.4p             14 January 2027 
-------------------  ---------------  ---------------- 
 

There is no further information on Mr Hampel required to be disclosed under Schedule Two, paragraph (g) of the AIM Rules for Companies.

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014. The person who arranged for the release of this announcement on behalf of the Company was George Roach, Director.

Enquiries:

 
                          Premier African         Tel: [phone] 
 Fuad Sillem              Minerals Limited                  922074 
------------------  ---------------------------  ----------------- 
 Michael Cornish          Beaumont Cornish            Tel: +44 (0) 
  / Roland Cornish             Limited                20 7628 3396 
                         (Nominated Adviser) 
------------------  ---------------------------  ----------------- 
 Jerry Keen/Edward   Shore Capital Stockbrokers       Tel: +44 (0) 
  Mansfield                    Limited                20 7408 4090 
------------------  ---------------------------  ----------------- 
                        Brandon Hill Capital          Tel: +44 (0) 
 Jonathan Evans                Limited                20 3463 5000 
------------------  ---------------------------  ----------------- 
 

Notes to Editors:

Premier African Minerals Limited (AIM: PREM) is a multi-commodity mining and natural resource development company focused on Southern Africa with its flagship RHA project in Zimbabwe.

The Company has a diverse portfolio of projects, which include tungsten, rare earth elements, lithium and tantalum in Zimbabwe, encompassing brownfield projects with near-term production potential to grass-roots exploration. In addition, the Company holds 5,010,333 shares in Circum Minerals Limited ("Circum"), the owners of the Danakil Potash Project in Ethiopia, which has the potential to be a world class asset. Premier also has a 4.5% interest in Casa Mining Limited, a subsidiary of Arc Minerals Limited that has a 71.25% interest in the 1.5-million-ounce inferred resource Akyanga gold deposit in the DRC.

Forward Looking Statements:

Certain statements in this announcement are or may be deemed to be forward looking statements. Forward looking statements are identi ed by their use of terms and phrases such as "believe" "could" "should" "envisage" "estimate" "intend" "may" "plan" "will" or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth results of operations performance future capital and other expenditures (including the amount. nature and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward looking statements re ect the Directors' current beliefs and assumptions and are based on information currently available to the Directors. Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements including risks associated with vulnerability to general economic and business conditions competition environmental and other regulatory changes actions by governmental authorities the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the Company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The Company cannot assure investors that actual results will be consistent with such forward looking statements.

ENDS

This information is provided by RNS

The company news service from the London Stock Exchange

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April 10, 2018 02:01 ET (06:01 GMT)