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KIBO MINING PLC - Invitaion from Tanzanian Government to present Rukwa Power Project Details

Release Date: 14/02/2013 15:51
Code(s): KBO     PDF:  
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Invitaion from Tanzanian Government to present Rukwa Power Project Details

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”)


14 February 2013

Invitation from Tanzanian Government to present Rukwa Power Project Details

The board of Kibo Mining Plc (the "Company") wishes to advise that it has received a formal
invitation dated 13 February 2013 from the Ministry of Energy and Minerals (“MEM”) to present
and discuss details pertaining to its Rukwa Coal to Power Project. The presentation will take place
on 22 February 2013 and will also be attended by the Tanzanian Electricity Supply Commission
(“TANESCO”).

Louis Coetzee, Chief Executive Officer of the Company commented: “ We welcome the sense of
urgency reflected by the short notice period of the invitation, and appreciate this opportunity to
participate in a formal forum where both the MEM and TANESCO are present. The written
invitation from the MEM emphasises the large scope for power generation in Tanzania, the acute
need for a stable power supply, and the fact that the demand for electricity continues to grow at a
fast rate.”


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

Matthew Johnson      +44 (0) 207           Northland Capital Broker
                     9768800               Partners Limited

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
14 February 2013

Corporate and Designated Adviser
River group

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