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Update on Katoro Gold PLC: Imweru Gold Project
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: IE00B97C031
("Kibo" or "the Company")
31 May 2017
Update on Katoro Gold PLC: Imweru Gold Project
Kibo Mining plc ("Kibo Mining") (AIM: KIBO; AltX: KBO), the Tanzania focused mineral
exploration and development company, would like to draw shareholders' attention to the
announcement released by Katoro Gold plc ("Katoro") at 7am today, regarding progress at the
Imweru Gold project in Tanzania.
The body of the announcement released by Katoro is reproduced below:
Katoro Gold plc (Incorporated in England and Wales)
(Registration Number: 9306219)
Share code on AIM: KAT
ISIN: GB00BSNBL022
("Katoro" or "the Company")
31 May 2017
Work on Imweru Gold Project Commences
Katoro Gold plc ("Katoro" or the "Company") (AIM: KAT), the Tanzania focused gold
exploration and development company, is pleased to announce that development work on the
Imweru gold project in Tanzania has officially commenced. Operational teams were deployed to
site over the past week and the first drill rig is expected to arrive on 1 June 2017. With the site and
drill pad preparation already complete, drilling will commence immediately once the rig arrives on
site.
Louis Coetzee, Executive Chairman of Katoro commented: "We are extremely pleased with the
successful and rapid start of work on the Imweru project. As a result, we are now two months
ahead of our previous work programme schedule which initially indicated that drilling would
commence in Q3 2017. With this, the capability and capacity of the project team who are
responsible for executing the Imweru work program, is also clearly demonstrated."
-ENDS-
Kibo Mining 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
Andrew
Thomson
+61 8 9480 2500
RFC Ambrian Limited
Nominated Adviser
on AIM
Liz Morley /
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. Kibo Mining 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 43-101compliant defined
resource, and is developing a 250-350 MW mouth-of-mine thermal power station, the Mbeya Coal to
Power Project ("MCPP"), previously called the Rukwa Coal to Power Project ("RCPP"), with an
established management team that includes ABSA / Barclays as Financial Advisor. Kibo has completed a
Coal Mining Definitive Feasibility Study and a Power Pre- Feasibility Study for the Mbeya project and
has recently announced the completion of an Integrated Bankable Feasibility Study report for the project.
On 25 August 2016, Kibo signed an Agreement with China based EPC contractor SEPCO III granting it
the right to become the sole bidder for the EPC contract to build the power plant component of the MCPP
in exchange for SEPCO III refunding 50% of the development costs incurred by Kibo to date on the
project. Kibo has already received the first tranche of this funding in the amount of US$1.8 million on the
5th September 2016 and signed an EPC contract with SEPCO III on the 19th December 2016.
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's projects are located in central Tanzania and in the Mtwara Corridor in southern Tanzania
where the Government has prioritized infrastructural development attracting significant recent
investment in coal and uranium. Kibo Mining 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. Kibo Mining recognizes the potential to enhance the
quality of life and opportunity for Tanzanian citizens through careful development of its projects.
Updates on the Kibo Mining's activities are regularly posted on its website www.kibomining.com.
This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no.
596/2014 ("MAR").
Johannesburg
31 May 2017
Corporate and Designated Adviser
River Group
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