KIBO MINING PLC - Successful achievement of Strategic Development Objectives

Successful achievement of Strategic Development Objectives

 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”)

 02 June 2017

  Successful Achievement of Strategic Development Objectives Result in Significant
  Cost Savings via Rationalization of Lake Victoria Early Stage Licence Portfolios

  Kibo Mining plc (“Kibo” or the “Company”) (AIM: KIBO; AltX: KBO), the Tanzania focused
  mineral exploration and development Company, is pleased to announce that following a
  comprehensive technical and commercial review of its mineral licence portfolio in Tanzania it
  has relinquished several early stage non-core prospecting licences, licence offers and licence
  applications (together “the Licences”) in the Lake Victoria Region. This relinquishment (the
  “Rationalization”) is in line with the Company’s strategy to focus resources on its MCPP
  development projects (coal mining & coal to power), Haneti project (nickel), and the Imweru &
  Lubando projects (gold) held by Katoro Gold PLC (“Katoro”) in which Kibo is a 57.1%
  shareholder.

  Lake Victoria Project

  The Rationalization was carried out as part of the process of facilitating the spin-out of Kibo’s
  key gold resource based projects, Imweru and Lubando in the region, to Katoro (admitted to
  trading on AIM on 23 May 2017). The effect of the Rationalization is that the Company has
  now surrendered most of its early stage gold Licences in the Lake Victoria Goldfields (“LVG”)
  of northern Tanzania and its sole remaining gold interests in this region are in the greater
  Imweru and Lubando licence portfolios through its majority interest in Katoro. Altogether 79
  Licences were surrendered constituting a total Licence area of approximately 800 km2. The
  surrendered Licences cover various non-contiguous single Licence and small Licence blocks
  scattered throughout the LVG. All the Licences are at a very early stage of exploration and no
  longer contribute towards the Company’s strategic development objectives.

  Maps showing the Company’s updated Licence holdings in the Lake Victoria Region following
  the Rationalization can be found within the Lake Victoria project page on the Company’s
  website www.kibomining.com.

  Louis Coetzee, CEO of Kibo Mining, said: “Rationalization of our Lake Victoria project is a
  result of a continuous in-house evaluation of our mineral portfolios to ensure they are aligned
  with and positively support and contribute towards our corporate development strategy. The
  significant cost savings and additional availability of resources from this rationalization will be
  re-assigned to our flagship MCPP and Haneti nickel projects.”

  Contacts


  Louis Coetzee        +27 (0) 83 2606126      Kibo Mining plc        Chief Executive Officer

                                                                      
                                                                      Corporate Adviser and
  
  Andreas Lianos       +27 (0) 83 4408365        River Group
                                                                      Designated Adviser on JSE

                                                 Beaufort
  
  Jon Belliss          +44 (0) 207 382 8300                           Broker
                                                 Securities Limited
                                                

                                                 RFC Ambrian
  
  Andrew Thomson       +61 8 9480 2500                                Nominated Adviser on AIM
                                                 Limited
  


  Liz Morley / Molly
                       +44 (0) 203 772 2500
         Stewart                                     Bell Pottinger   Investor and Media Relations




 Kibo Mining - Notes to editors

Kibo Mining is listed on the AIM market in London and the AltX in Johannesburg. Kibo Mining is
focused on exploration and development of mineral projects in Tanzania, and controls a large mineral
rights portfolio in Tanzania. Tanzania provides a secure and stable operating environment for the mineral
resource industry and Kibo Mining therein.

Kibo Mining holds a thermal coal deposit at Mbeya, which has a significant NI 43-101compliant defined
resource, and is developing a 250-350 MW mouth-of-mine thermal power station, the Mbeya Coal to Power
Project (“MCPP”), previously called the Rukwa Coal to Power Project (“RCPP”), with an established
management team that includes ABSA / Barclays as Financial Advisor. Kibo has completed a Coal Mining
Definitive Feasibility Study and a Power Pre- Feasibility Study for the Mbeya project and has recently
announced the completion of an Integrated Bankable Feasibility Study report for the project. On 25 August
2016, Kibo signed an Agreement with China based EPC contractor SEPCO III granting it the right to
become the sole bidder for the EPC contract to build the power plant component of the MCPP in exchange
for SEPCO III refunding 50% of the development costs incurred by Kibo to date on the project. Kibo has
already received the first tranche of this funding in the amount of US$1.8 million on the 5th September 2016
and signed an EPC contract with SEPCO III on the 19th December 2016.

Kibo also holds the Haneti Project on which the latest technical report confirms prospectivity for nickel,
PGMs, gold and strategic metals including lithium.

Kibo Mining's projects are located in central Tanzania and in the Mtwara Corridor in southern Tanzania
where the Government has prioritized infrastructural development attracting significant recent investment
in coal and uranium. Kibo Mining has a positive working relationship with the Tanzanian government at
local, regional and national levels and works hard to maintain positive relationships with all communities
where company interests are held. Kibo Mining recognizes the potential to enhance the quality of life and
opportunity for Tanzanian citizens through careful development of its projects.

 Updates on the Company's activities are regularly posted on its website www.kibomining.com

 This announcement contains inside information as stipulated under the Market Abuse Regulations
 (EU) no. 596/2014 ("MAR").

 Johannesburg
 02 June 2017
 Corporate and Designated Adviser
 River Group

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