SNU - Sentula Mining - Failure of a condition precedent to the exchange of

SNU - Sentula Mining - Failure of a condition precedent to the exchange of      
shares agreement                                                                
Sentula Mining Limited                                                          
Incorporated in the Republic of South Africa                                    
(Registration number 1992/001973/06)                                            
Share code: SNU ISIN:ZAE000107223                                               
("Sentula")                                                                     
FAILURE OF A CONDITION PRECEDENT TO THE EXCHANGE OF SHARES AGREEMENT            
Shareholders are referred to the detailed terms announcement released on SENS   
on 21 April 2011, the announcement relating to the posting of the circular to   
the shareholders of Sentula released on SENS on 19 May 2011 and the exchange    
of shares agreement concluded between Sentula and Shanduka Resources            
(Proprietary) Limited ("Shanduka Resources") on 20 April 2011, as amended       
("Exchange of Shares Agreement").                                               
The Exchange of Shares Agreement is subject to a number of conditions           
precedent, including the approval of the exchange of shares by the              
shareholders of Shanduka Group (Proprietary) Limited ("Shanduka Group").        
Sentula has been advised by Shanduka Group that its shareholders have not       
approved the exchange of shares and will not approve the exchange of shares     
by 30 June 2011, being the last date for fulfilment of the said condition.      
Sentula has also been advised by a senior executive of Shanduka Resources       
that the shareholders of Shanduka Group have approved the acceptance of an      
alternative offer for Shanduka Resources` coal assets.                          
Shareholders are accordingly advised that, unless the shareholders of           
Shanduka Group approve the exchange of shares on or before midnight on 30       
June 2011, the operative provisions of the Exchange of Shares Agreement will    
not become of any force and effect and the exchange of shares will not be       
implemented.                                                                    
Johannesburg                                                                    
28 June 2011                                                                    
Investment Bank and Transaction Sponsor to Sentula                              
Standard Bank                                                                   
Sponsor to Sentula                                                              
Merchantec Capital                                                              
Legal Adviser to Sentula                                                        
Cliffe Dekker Hofmeyr Incorporated                                              
Investor Relations for Sentula                                                  
College Hill                                                                    
Date: 28/06/2011 17:50:01 Supplied by www.sharenet.co.za                     
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