Mooiplaats update 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 2 July 2015 Mooiplaats update Further to the announcements of 6 November 2014, 17 December 2014, 30 January 2015 and 5 May 2015, regarding the finalisation of a sale and purchase agreement (“SPA”) with Blackspear Capital ("Blackspear") for the disposal of the Mooiplaats Colliery for R250 million and the subsequent extension of the SPA until 30 June 2015, Coal of Africa Limited (“CoAL” or the “Company”) announces that the SPA will not be extended further and therefore will lapse. The Company is continuing discussions with various parties regarding the sale of the Mooiplaats asset. Blackspear, with whom the original SPA was signed, is one of the parties that the Company is engaged with, and it continues to work towards sourcing the required funding. CoAL will continue to update the market as and when it is appropriate. It should be noted that the company completed the equity raise referred to in the notice of 2 June 2015 David Brown Chief Executive Officer For more information contact: David Brown Chief Executive Officer Coal of Africa +27 10 003 8000 Celeste Riekert Investor Relations Coal of Africa +27 10 003 8000 Tony Bevan Company Secretary Endeavour Corporate Services +61 08 9316 9100 Company advisors: Matthew Armitt/Ross Allister Nominated Adviser and Peel Hunt LLP +44 20 7418 8900 Broker Jos Simson/Emily Fenton Financial PR (United Tavistock +44 20 7920 3150 Kingdom) Charmane Russell/Jane Kamau Financial PR (South Russell & Associates +27 11 880 3924 or Africa) +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). 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 De Wet O.Schutte - Chief Financial Officer Non-executive directors: Peter G. Cordin, Andrew D. Mifflin, Khomotso B. Mosehla , Thabo F. Mosololi, Rudolph H. Torlage Date: 02/07/2015 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.