Stage 1 Equity Raise Cash Flow Received Coal of Africa Limited (Incorporated and registered in Australia) Registration number ABN 008 905 388 ISIN AU000000CZA6 JSE/ASX/AIM share code: CZA ("CoAL or the "Company" or the "Group") ANNOUNCEMENT 13 November 2014 Stage 1 Equity Raise Cash Flow Received Coal of Africa Limited (“CoAL” or “Company”), the coal exploration and project development company operating in South Africa and traded on the ASX, AIM and JSE is pleased to announce the successful th completion of the Stage 1 Share Placement and the receipt of funds on the 11 of November 2014. The Stage 1 Placement resulted in the issue of 251 million additional shares split according to the various subscription agreements on the AIM and JSE to the value of GBP 13,805 million (US$ 21,8 million). For more information th regarding the announced equity raise please refer to the announcement made on the 26 of August 2014. David Brown commented: “The receipt of funds from the Stage 1 placement is most welcome and will enable the Company to continue on our value creation strategy” AUTHORISED BY: David Brown For more information contact: David Brown Chief Executive Officer Coal of Africa +27 10 003 8000 Michael Meeser Chief Financial Officer Coal of Africa +27 10 003 8000 Celeste Harris Investor Relations Coal of Africa +27 10 003 8000 Tony Bevan Company Secretary Endeavour Corporate Services +61 08 9316 9100 Company advisors: Jos Simson/Emily Fenton Financial PR (United Kingdom) Tavistock +44 20 7920 3150 AU: Coal of Africa Limited, Suite 8, 7 The Esplanade, Mount Pleasant, Perth WA 6153, Australia, Tel: +61 8 9316 9100, Fax: +61 8 9316 5475 ZA: South Block, Summercon Office Park, Cnr Rockery Lane and Sunset Avenue, Lonehill, 2191, Tel: +27 10 003 8000 Fax: +27 11 388 8333 Email: adminza@coalofafrica.com Bernard R. Pryor – Chairman, David H. Brown – Chief Executive Officer , Michael G. Meeser – Chief Financial Officer Non-executive directors: Peter G. Cordin, Khomotso B. Mosehla , David J. K. Murray, Rudolph H. Torlage Chris Sim/George Price/Jeremy Ellis Nominated Adviser Investec Bank plc +44 20 7597 5970 Charmane Russell/Jane Kamau Financial PR (South Africa) Russell & Associates +27 11 880 3924 or +27 82 372 5816 Investec Bank Limited is the nominated JSE Sponsor About CoAL: CoAL is an AIM/ASX/JSE listed coal exploration, development and mining company operating in South Africa. CoAL’s key projects include the Vele Colliery (coking and thermal coal), the Greater Soutpansberg Project /MbeuYashu, including CoAL’s Makhado Project (coking and thermal coal). Date: 13/11/2014 08:00:00 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.