Update on Proceeds of Placing 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: IE00B97C0C31 ("Kibo" or "the Company") Dated: 25 March 2015 Update on Proceeds of Placing Kibo Mining Plc ("Kibo" or the "Company") (AIM:KIBO; JSE AltX: KBO), the Tanzania focused mineral exploration and development company, provides the following update to the announcement it made on 17 March 2015 regarding the delayed receipt of the proceeds of its recent placing due to the fact that Hume Capital Securities plc ("Hume Capital") had appointed administrators. Kibo believes that, of the outstanding placing proceeds, £526,000 (representing the consideration for 10,520,000 Kibo shares which were to be issued to third party investors) which had been paid into Hume Capital's client money account, will be released to Kibo, as soon as practically possible under the procedures established by the FCA for such circumstances. However Kibo understands that the balance of the placing consideration of approximately £204,000 (representing the consideration for 4,080,000 Kibo shares which were to be issued to Hume Capital's discretionary clients) is unlikely to be released to the Company. The shares which were issued by Kibo in relation to this portion of the placing will likely be declared forfeit and cancelled by the Company, as provided for by the Company's Articles of Association. Further information will be provided to investors as it becomes available to the Company. Louis Coetzee, CEO of the Company, commented today: "The latest developments in relation to the Company's February placing with Hume, does not affect the Company's on-going business activities. Sufficient pre-cautionary measures are in place and have subsequently been introduced, to ensure that the Company can carry on with its business as usual, without any undue disruption. Shareholders can expect further updates on the various activities the Company has been reporting on over the past months, shortly." Contacts 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 Elliot Hance +44 (0) 207 382 8300 Beaufort Securities Limited Broker Oliver Morse +61 8 9480 2500 RFC Ambrian Limited Nominated Adviser on AIM Daniel Thšle Lucinda Alderson +44 (0) 203 772 2500 Bell Pottinger Investor and Media Relations Johannesburg 25 March 2015 Corporate and Designated Adviser River Group Date: 25/03/2015 01:15:00 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.