AFRICAN RAINBOW MINERALS LIMITED - Completion of African Rainbow Minerals Limited (ARM's) disposal of its 50% indirect interest in Dwarsrivier

Completion of African Rainbow Minerals Limited (ARM's) disposal of its 50% indirect interest in Dwarsrivier

AFRICAN RAINBOW MINERALS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 1933/004580/06
Share code: ARI
ISIN: ZAE000054045
(“ARM”)

COMPLETION OF AFRICAN RAINBOW MINERALS LIMITED (ARM’S) DISPOSAL OF ITS
50% INDIRECT INTEREST IN THE DWARSRIVIER CHROME MINE

ARM shareholders are referred to the announcement released on the Stock
Exchange News Service of the JSE Limited on 25 June 2015, in which they
were advised that ARM and Assore Limited (“Assore”) had concluded
definitive agreements for ARM’s disposal of its 50% indirect interest in
the Dwarsrivier Chrome Mine (“Dwarsrivier”), held through Assmang
Proprietary Limited (“Assmang”), to Assore for an amount of ZAR450
million (the “Transaction”).

ARM is pleased to advise that the conditions precedent to the
Transaction have been fulfilled. The Transaction will accordingly be
completed on 29 July 2016.

Assore will also refund Assmang an amount of approximately ZAR55 million
for additional funding advanced to Dwarsrivier’s operations by Assmang
between 1 July 2014 and 30 June 2016, in accordance with the terms of
the Transaction.

For all investor relations queries, please contact:

Jongisa Magagula

Head of Investor Relations and Corporate Development

Office: +27 11 779 1507

Email: jongisa.magagula@arm.co.za

Johannesburg

29 July 2016

Investment bank and corporate advisor to ARM
Absa Bank Limited

Sponsor to ARM
Deutsche Securities (SA) Proprietary Limited

Legal adviser to ARM
Bowman Gilfillan Incorporated

Tax adviser to ARM
PricewaterhouseCoopers

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