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KBO - Kibo Mining Plc - Management changes 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: IE00B61XQX41 ("Kibo" or "the Company") KIBO MINING PLC Management Changes Kibo Mining plc ("Kibo" or the "Company") (AIM, KIBO: JSE, KBO) the mineral exploration and development company focused on gold and nickel projects in Tanzania announces changes in management to optimize its business over the coming months. The Company has identified potential investment interest amongst the investment community in Tanzania. To take advantage of this opportunity, the Company is considering seeking a listing on the Dar es Salaam Stock Exchange. Furthermore, the Company`s South African advisors are recommending raising Kibo`s profile in South Africa, where the company is quoted on the Johannesburg Stock Exchange. In parallel and as part of its ongoing exploration activities, the Company will be maximizing the returns from its large portfolio of exploration licenses in Tanzania. Kibo holds some 190 licenses totaling approximately 18,600 square kilometers under issue, application and offer located in the Lake Victoria, Morogoro and Dodoma areas with excellent exploration potential for gold and base metals. Whilst the Company will explore a number of these licenses on its own, it is aware that some areas might make a logical package for joint ventures or might be of strategic interest to neighbouring mineral rights holders. Consequently the Directors of the Company have agreed that Noel O`Keeffe will concentrate on the development of these exploration assets of Kibo as Exploration Director and Louis Coetzee, currently a Non-executive Director of the Company, will be appointed as interim Chief Executive Officer for twelve months to lead the marketing initiative of the Company. The Company will then appoint a full time chief executive officer to take the Company on to the next stage of its development. Noel O`Keeffe, a founder Director of Kibo, is an experienced professional exploration geologist with over 20 years experience in Tanzania, Australia, Canada and Ireland and has overseen the development of the Company to date. Louis Coetzee, appointed to the board on 19 July 2010, has over 25 years business development experience in Africa with 15 of these in Tanzania. Louis is currently a director and chief operating officer of the Mzuri Group, a substantial shareholder in Kibo. He is also Chairman of Australian listed East African Resources limited (ASX: AAF) which holds uranium exploration projects in Tanzania. Commenting on these changes, Chairman Christian Schaffalitzky said: "We are pleased that our Company has the requisite skills in-house to maximize our development progress over the coming months. Noel and Louis have worked hard to get the Company where it is today and both of them have a clear focus on adding shareholder value through the best use of our resources. This combined with our strategic approach, means we can look forward to making significant progress and reporting successful results to our Shareholders". Enquiries: Louis Coetzee +27 (0)83 Kibo Mining Chief 2606126 plc Executive Officer Noel O`Keeffe +353 (0)91 Kibo Mining Exploration 384562 plc Director John Simpson +44 (0)207 Daniel Stewart Nominated 7766550 & Company Plc Adviser
Andreas Lianos +27 (0)83 River Group Designated 4408365 Advisor
Nick Bealer +44 (0)207 Cornhill Broker 7109612 Capital Ltd (Corporate Broking)
Andrew Frangos +44 (0)207 Cornhill Broker 7109610 Capital Ltd (Corporate Finance)
Matt Beale +44 (0)7966 Fortbridge Public 389 196 Consulting UK Relations Updates on the Company`s activities are regularly posted on its website www.kibomining.com 4 November 20111 Pretoria Date: 04/11/2011 09:00:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.
