KIBO MINING PLC - Mbeya Coal to Power Project: Power Definitive Feasibility Study - Review Completed and Share Issue

Mbeya Coal to Power Project: Power Definitive Feasibility Study - Review Completed and Share Issue

Kibo Mining Plc 
(Incorporated in Ireland)
(Registration Number: 451931)
(External registration number: 2011/007371/10)
Share code on the JSE Limited: KBO 
Share code on the AIM: KIBO
ISIN:IE00B97C0C31
("Kibo" or "the Company")

29 April 2016

Mbeya Coal to Power Project: Power Definitive Feasibility Study - Review Completed and 
Share Issue

Kibo Mining plc ("Kibo" or the "Company") (AIM: KIBO; AltX: KBO), the Tanzania focused 
mineral exploration and development Company is pleased to announce that:

*The review of the Mbeya Coal to Power Project's ("MCPP") Power Definitive 
 Feasibility Study ("PDFS") has been completed. The final and official PDFS report 
 will be delivered to the Company's CEO on Monday 2 May 2016, during a 
 scheduled project meeting with Tractebel Engineering.

*Kibo has also today issued 180,778 new Ordinary Kibo shares of Û0.015 par value 
 each in the capital of the Company at 4.88p per share ("Settlement Shares") in 
 settlement of recent invoices from service providers for geological and investor 
 relations services to the Company. These Settlement Shares are in respect of 
 invoices totalling £8,822. Application will be made for the Shares to be admitted to 
 trading on AIM and the JSE AltX markets. Trading in the Shares is expected to 
 commence on AIM and the JSE on or around 3rd May  2016 ("Admission"). On 
 completion of Admission the Company will have 351,605,538 shares in issue.

Louis Coetzee, CEO of the Company, commented today: "We are extremely pleased to have 
completed the PDFS on schedule and within budget. The PDFS constitutes the most important 
component of the MCPP and is the foundation for the MCPP's entire business case. This milestone 
in the development of the MCPP is a critical achievement in advance of the financial close.

We look forward to updating the market on the PDFS results upon receipt of the official PDFS 
report next week."

Contacts

Louis Coetzee
+27 (0) 83 2606126
Kibo Mining plc
Chief Executive Officer
Andreas Lianos
+27 (0) 83 4408365
River Group
Corporate Adviser and 
Designated Adviser on JSE
Jon Belliss
+44 (0) 207 382 8300
Beaufort 
Securities Limited
Broker
Oliver Morse
+61 8 9480 2500
RFC Ambrian 
Limited
Nominated Adviser on AIM
Daniel Thšle / Anna Legge
+44 (0) 203 772 2500
Bell Pottinger
Investor and Media Relations

Kibo Mining - Notes to editors 
Kibo Mining is listed on the AIM market in London and the AltX in Johannesburg. The 
Company is focused on exploration and development of mineral projects in Tanzania, and 
controls one of Tanzania's largest mineral right portfolios. Tanzania provides a secure and stable 
operating environment for the mineral resource industry and Kibo Mining therein.

Kibo Mining holds a thermal coal deposit at Mbeya, which has a significant NI 43-101 
compliant defined resource, and is developing a 250-350 MW mouth-of-mine thermal power 
station, the Mbeya Coal to Power Project ("MCPP"), previously called Rukwa Coal to Power 
Project ("RCPP"), with an established management team that includes Standard Bank as 
Financial Advisor.  Kibo is undertaking a Coal Mining Definitive Feasibility Study and a Power 
Pre-Feasibility Study for the Mbeya project with an integrated Bankable Feasibility Study report 
for the MCPP to be released in the near term. On 20th April 2015, Kibo signed a Joint 
Development Agreement for the completion of the Definitive Feasibility Studies and 
development of the MCPP with China based EPC contractor SEPCO III.

The Company also has extensive gold focused interests including Lake Victoria Goldfields and 
Morogoro projects. At Lake Victoria, the Company has projects with a 550,000 oz. JORC 
compliant gold Mineral Resource at Imweru Project and a 168,000 oz. NI 43-101 compliant 
gold Mineral Resource at the Lubando Project in which the Company holds a 90% attributable 
interest. The Company is currently undertaking a Definitive Feasibility Study on its Imweru 
Project.

Kibo also holds the Haneti Project on which the latest technical report confirms prospectivity for 
nickel, PGMs, gold and strategic metals including lithium.

Kibo Mining further holds the Pinewood (coal & uranium) project where the company has 
entered into a 50/50 Exploration Joint Venture with Metal Tiger plc.

Finally, the Company also holds the Morogoro (gold) project where the company has also 
entered into a 50/50 Exploration Joint Venture with Metal Tiger plc.

The Company's projects are located in the established and gold prolific Lake Victoria 
Goldfields, the emerging goldfields of eastern Tanzania and the Mtwara Corridor in southern 
Tanzania where the Government has prioritized infrastructural development attracting 
significant recent investment in coal and uranium. The Company has a positive working 
relationship with the Tanzanian government at local, regional and national levels and works hard 
to maintain positive relationships with all communities where company interests are held. The 
Company recognizes the potential to enhance the quality of life and opportunity for Tanzanian 
citizens through careful development of its projects.

Updates on the Company's activities are regularly posted on its website www.kibomining.com

Johannesburg
29 April 2016
Corporate and Designated Adviser
River Group



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