MIRANDA MINERAL HOLDINGS LIMITED - CANCELLATION OF S329963 Shareholder update and withdrawal of cautionary

CANCELLATION OF S329963 Shareholder update and withdrawal of cautionary

Miranda Mineral Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1998/001940/06)
Share code: MMH ISIN: ZAE000074019
(“Miranda” or “the Company”)

Shareholder update and withdrawal of cautionary

1.      Introduction

Shareholders are referred to the condensed reviewed provisional results for the year ended 31
August 2012, as announced on 29 November 2012, in which the Company reported that:

     1.1 Settlement of the dispute between Sesikhona and Stefanutti Stocks Mining Services a
         division of Stefanutti Stocks (Proprietary) Limited (“SSMS”) for an amount of R8 million is
         imminent; an additional buyer for the anthracite of Sesikhona Klipbrand Colliery Pty Limited
         (“Sesikhona”) has been identified and that a Coal sale agreement will be concluded subject
         to certain conditions precedent including compliance with all regulatory requirements; and
     1.2 negotiations with a preferred Mining Contractor have reached an advanced stage;

Resultant on the above, the Company issued a cautionary, the last of which was announced on 19
March 2013.

2.      Sesikhona

Shareholders are advised that:

     2.1 A settlement agreement between Sesikhona and SSMS was concluded on 15 March 2013 for
         an amount of R6.5million, in full and final settlement of all disputes between the parties.
         R5million of this amount is to be settled in new Miranda shares at a price of [insert] and
         R1,5million in cash, which amount is to be paid on 5 September 2013; and.

     A memorandum of understanding has been entered into between Shanduka Coal Pty Limited
     (“Shanduka”) and Sesikhona in terms whereof Shanduka will buy 1.2million tonnes of raw
     material from the Sesikhona mine, however, Osho SA Coal Resources Pty Limited, with whom a
     term sheet in respect of an off take agreement was signed in December 2011, is alleging that
     they have purchased all of the Sesikhona anthracite and consequently applied for an interim
     interdict to stop Miranda from delivering anthracite from the Sesikhona mine to another off
     taker. Miranda is opposing this application. The matter was heard in the Pietermaritzburg High
     Court on 4 March 2013. Judgement was reserved and will be delivered in due course. An
     announcement will be made to update shareholders once judgement is received.

The management of Miranda are therefore unable to finalise its negotiations with Shanduka until
such time as the dispute has been resolved.

Withdrawal of cautionary
Shareholders are advised that as a result of the conclusion of the Stefanutti settlement and the fact
that negotiations with Shanduka cannot be finalised until such time as judgement is delivered
caution is no longer required to be exercised by shareholders when dealing in their securities.

26 March 2013

Sponsor

PricewaterhouseCoopers Corporate Finance (Pty) Ltd

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