KIBO MINING PLC - Issue of Shares

Issue of Shares

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”)


17 January 2013

Issue of Shares

Further to its release on 9 January 2013, Kibo Mining Plc (the "Company") is pleased to advise
that it has issued 120,833,333 new ordinary shares to replace the same number of shares that
were borrowed from its major shareholder, Mzuri Capital Group Ltd in order to facilitate a
share placement.

Application has been made for the new shares to be admitted to trading on both AIM and on
the AltX market of the JSE. The new shares are expected to commence trading on both AIM
and AltX on or around 18 January 2013


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

Nick Bealer        +44 (0)207 7109612       Cornhill Capital                      Joint Broker
                                            Ltd



Tim                  +44 (0) 207 9768800 Northland Capital                        Joint Broker
Metcalfe/Matthew                         Partners Limited
Johnson

Stuart Laing       +61 8 94802500           RFC Corporate         Nominated Adviser on AIM
                                            Finance Limited

Matt Beale         +44 (0)7966 389196       Fortbridge                        Public Relations



Updates on the Company’s activities are regularly posted on its website www.kibomining.com
General Background & Strategy

Kibo was established in early 2008 to explore and develop mineral deposits in Tanzania, East
Africa and was admitted to AIM on 27 April 2010 and AltX in South Africa on 30 May 2011.
The Board of Kibo is composed of professionals whose experience include mineral
exploration, mine development, mining finance, tax, law, mergers and acquisitions, and
financial control of public companies. It is supported by competent and motivated Tanzanian
staffs that operate from Kibo's operations office in Dar es Salaam.

The mineral assets of the Company now comprise five projects in Tanzania - Haneti (nickel,
PGE and gold), Morogoro (Gold), Lake Victoria (Gold), Rukwa (Coal) and Pinewood (Coal &
Uranium) which give Kibo access to 38,000 km2 of early stage exploration licences in
Tanzania's premier gold mining region, the Lake Victoria Goldfield, within the emerging gold
exploration regions in eastern Tanzania and uranium and coal regions in south-western
Tanzania.

The Rukwa and Pinewood projects will provide Kibo shareholders with exposure to an
attractive portfolio of strategic energy assets in Tanzania. Importantly, they are situated within
and close to the Mtwara Corridor, an area where the Tanzanian Government has committed to
significant infrastructure development and which has seen recent multi-million dollar
investment in coal and coal-fired power stations and uranium exploration.

The Rukwa project is substantially more advanced than Kibo’s existing exploration projects,
with a significant Mineral Resource of thermal coal already defined. This provides nearer term
development and commercialisation potential, complementing the earlier stage existing
projects held by Kibo. This is further supported by the memorandum of understanding that has
already been entered into with a major Asian conglomerate for the development of a coal mine
and mine-mouth coal-fired power plant based on the Rukwa project.

In addition, the Pinewood project encompasses a significant ground holding of prospective
Karoo sequence sedimentary rocks. These sediments are attracting considerable interest from
international companies exploring for uranium and coal mineralisation following some notable
discoveries in recent years.

Kibo's objective is to build shareholder value in a sustainable manner. This objective will be
pursued primarily through active exploration of its own projects and by using the Company's
experience in Tanzania to acquire attractive exploration and development assets on competitive
terms that can be moved swiftly up the value curve by using the Company’s own skills base
whilst also seeking to benefit from strategic collaborative relationships with industry leaders
who have special skills and competencies within their chosen fields of focus. Kibo will
undertake continual risk assessment of its projects and take whatever actions it believes are
necessary to ensure that these risks are mitigated.

Johannesburg
17 January 2013

Corporate and Designated Advisor
River Group

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